Outcome of Board Meeting for Quarterly financial results for the quarter ended on June 30, 2025 and appointment of secretarial auditor
Awaiting price reaction for this filing.
The board approved unaudited standalone financial results for Q1 FY26 (quarter ended June 30, 2025). Revenue from operations rose about 23% year-on-year to Rs 2,465.85 lakh, up from Rs 2,000.54 lakh in Q1 FY25, helped by a newly acquired fabric manufacturing unit (contributing around 68% of quarterly revenue). However, the company slipped into a loss of Rs 34.36 lakh at the PAT level versus a loss of Rs 75.50 lakh in the same quarter last year; the narrower loss was offset by a sharp jump in depreciation and finance costs. The statutory auditor (Nenawati & Associates) issued an unmodified limited review report. Separately, the board appointed M/s Shrenik Nagaonkar & Associates as the new secretarial auditor for a five-year term through FY 2029-30.
Revenue momentum is positive and YoY losses are shrinking, which is mildly constructive, but the company continues to post bottom-line losses and rising cost base keeps profitability elusive — sentiment is likely neutral to slightly negative. The secretarial auditor change is a routine governance update with no material valuation impact.