Financial results for the Quarter ending and year ending 31.03.2026
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Pasari Spinning Mills reported a net profit of Rs. 27.96 lakhs for FY 2026, down from Rs. 36.05 lakhs in FY 2025, representing a 22% decline. Total income fell to Rs. 53.25 lakhs from Rs. 68.66 lakhs, primarily due to loss of rental income after the Commercial Court ordered vacation of premises in January 2026. Q4 FY 2026 showed a loss of Rs. 5.52 lakhs. The company's equity has eroded significantly with reserves at negative Rs. 1,346.63 lakhs, leaving total equity at only Rs. 33.37 lakhs against total assets of Rs. 258.26 lakhs. The auditors issued a Material Uncertainty Related to Going Concern note due to ongoing legal dispute with Cotton Corporation of India over alleged dues of Rs. 703.12 lakhs, though High Court has granted interim stay. A contingent liability of Rs. 639.23 lakhs has been disclosed.
The company is in severe financial distress with eroded net worth and negative reserves. The auditor's going concern qualification indicates significant doubt about the company's ability to continue operations. Shareholders face extreme risk as the company battles legal proceedings and has minimal equity cushion.