Outcome of Board Meeting
Awaiting price reaction for this filing.
The Board of Directors of Suryavanshi Spinning Mills, at its meeting held on November 13, 2025, approved the unaudited financial results for the quarter and half year ended September 30, 2025. The company reported a consolidated loss of ₹90.37 lakhs in Q2 FY26 versus a profit of ₹18.11 lakhs in Q2 FY25, widening the H1 FY26 loss to ₹379.25 lakhs from ₹167.89 lakhs in H1 FY25. Revenue from operations plunged sharply to ₹16.74 lakhs in Q2 FY26 from ₹131.65 lakhs in Q2 FY25 as the spinning division (discontinued since November 2023) continues to wind down. Total equity remains deeply negative at ₹(1,062.82) lakhs, with accumulated losses of ₹2,687.07 lakhs. The company disclosed that financial statements are still prepared on a going concern basis, relying on the market value of its immovable properties. The statutory auditor (K.S. Rao & Co) issued an unmodified limited review report.
Weak results with sharp revenue decline and widening losses raise serious concerns about the company's viability. Negative net worth and continued operating losses (excluding discontinued division gains) suggest potential stock price weakness and heightened risk for shareholders.