Pursuant to Regulation 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of the Company at its meeting ....
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Polytex India Limited's board approved audited financial results for FY 2024-25, reporting a loss of Rs 10.76 lacs, narrower than the Rs 16.11 lacs loss in the previous year. Total income stood at Rs 1.35 lacs versus Rs 1.05 lacs last year, with total expenses of about Rs 16.11 lacs. The statutory auditor flagged a material uncertainty related to going concern, noting that current liabilities exceed current assets by Rs 42.10 lacs, though the promoter has committed to continued financial support. The auditor also raised two emphasis-of-matter points: pending valuation of unquoted investments and non-compliance with Ind AS-19 for employee benefits. The RBI had earlier cancelled the company's NBFI registration in June 2024, and the company now operates with minimal activity.
Shareholders should note the company is loss-making, barely operational, and dependent on promoter support to continue as a going concern; the NBFI licence cancellation and weak financials are significant red flags despite the narrowed loss.