Integrated Filing - Financial for quarter and year ended 31.3.2025
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Patspin India Ltd reported widening losses for FY25 with a net loss of Rs 979 lakhs versus Rs 665 lakhs in the previous year, while Q4 FY25 swung to a Rs 249 lakh loss from a Rs 207 lakh profit a year ago. Revenue from operations rose about 8% to Rs 4,733 lakhs, but total income dipped marginally to Rs 4,883 lakhs. The company's net worth is fully eroded, with negative other equity of Rs 11,587 lakhs, and it has defaulted on Rs 4.93 crore of bank borrowings against total debt of Rs 56.67 crore. The statutory auditor flagged a material uncertainty on the company's ability to continue as a going concern, although the audit opinion itself remained unmodified. Management plans to restart cotton yarn manufacturing at its Palakkad plant and has submitted a new debt restructuring proposal to lenders, who have completed a techno-economic viability study.
Shareholders face serious solvency risks — widening losses, fully eroded net worth, and ongoing loan defaults. The auditor's going-concern warning adds significant uncertainty, and the stock is likely to remain under pressure until the lender-led debt restructuring is approved and manufacturing operations restart successfully.