Outcome of Board Meeting held on 20th May 2026.
Awaiting price reaction for this filing.
The board approved audited financial results for the year ended March 31, 2026. Total income nearly doubled to ₹700 Lakhs from ₹283 Lakhs in FY25. The company posted a net profit of ₹132.23 Lakhs compared to a loss of ₹167.89 Lakhs in the prior year. However, total equity remains deeply negative at ₹(865.49) Lakhs, and the auditor issued a Qualified Opinion for the fourth consecutive year due to unprovided TDS interest of ₹1.38 Lakhs and expired-limitation payables of ₹197.01 Lakhs. The spinning division discontinued in November 2023 contributed a profit of ₹77.86 Lakhs from asset sales versus a loss of ₹516.33 Lakhs previously.
The company has returned to profitability but continues to face serious concerns with negative net worth and repeated audit qualifications. Shareholders should be cautious as going concern doubts persist and the qualified opinion signals ongoing accounting/regulatory compliance risks.