Approved the Quarterly standalone and consolidated financial results for the quarter ended 30th June 2025
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Mohite Industries reported a weak Q1 FY26 with total standalone revenue of ₹2,227 lakhs, down about 29.6% from ₹3,162 lakhs in Q1 FY25, driven mainly by a sharp fall in textile segment sales (₹2,115 lakhs vs ₹3,073 lakhs). Hydro Power revenue was a small bright spot, rising to ₹112 lakhs from ₹89 lakhs. The company swung to a standalone loss before tax of ₹157 lakhs from a profit of ₹39 lakhs a year ago, and standalone loss after tax was ₹157 lakhs (EPS of -₹0.08 vs +₹0.19). On a consolidated basis, which includes subsidiary Solitaire Constructions, revenue fell about 45% to ₹2,624 lakhs and the company posted a loss after tax of ₹101 lakhs vs a profit of ₹210 lakhs last year. The statutory auditor issued an unmodified (clean) limited review opinion. The board also approved the appointment of internal, cost and secretarial auditors for FY26 and fixed the 34th AGM for 30 September 2025.
Shareholders should view this negatively: both top line and bottom line deteriorated sharply year-on-year, with the company slipping into losses on both standalone and consolidated bases. Power costs and finance charges remained heavy relative to weaker revenue, weighing on profitability, while the clean auditor opinion and routine auditor appointments provide no incremental comfort.