Outcome of Board meeting held on 30th May, 2026
Awaiting price reaction for this filing.
Avi Products India Ltd reported a massive turnaround to loss for FY2026 with net loss of Rs 194.26 Lakhs compared to profit of Rs 5.37 Lakhs in FY2025. Revenue from operations declined sharply to Rs 117.95 Lakhs from Rs 470.80 Lakhs in the prior year, a drop of about 75%. The company did not declare any dividend for FY2025-26. Total assets declined from Rs 799.48 Lakhs to Rs 523.51 Lakhs, while cash and cash equivalents dropped significantly to Rs 3.37 Lakhs from Rs 38.30 Lakhs. The auditors issued an unmodified opinion on the financial statements. The filing also notes that PPMS Real Estates LLP has acquired 37.88% stake from promoters and an open offer for 26% more shares at Rs 33 per share is currently ongoing.
The company has suffered severe financial deterioration with revenues falling 75% and turning loss-making. Negative operating cash flow of Rs 311.25 Lakhs and declining equity base (from Rs 378.93 Lakhs to Rs 184.67 Lakhs) indicate significant distress. The ongoing open offer may bring new management.