Audited Standalone Financial Results for quarter and year ended 31 March 2026
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Patspin India Ltd reported a net loss of Rs 1,140 lakhs for FY 2025-26, compared to a loss of Rs 979 lakhs in the previous year. Revenue from operations declined slightly to Rs 4,652 lakhs from Rs 4,733 lakhs. The company has negative other equity of Rs 9,643 lakhs, indicating severely eroded net worth. Total borrowings stand at Rs 8,126 lakhs with irregular debt servicing issues. The statutory auditor issued an unmodified opinion but explicitly flagged a material uncertainty about going concern due to cash losses, eroded net worth, and uncertain future cash flows. The company is pursuing a debt restructuring proposal with banks which has undergone TEV study confirming viability. An exceptional item of Rs 104 lakhs was recorded for labour code provisions. The company also appointed new internal auditors for FY 2026-27.
The company is in financial distress with mounting losses, negative net worth, and going concern doubts raised by auditors. While the restructuring proposal offers some hope, shareholders face significant risk as the company may not survive without successful debt restructuring and revival of manufacturing operations.