Results March 2025
Awaiting price reaction for this filing.
Mahaalaxmi Texpro Limited (formerly Abhishek Corporation) reported weak FY25 results with total income of Rs. 793.70 lakhs against total expenditure of Rs. 1,313.76 lakhs, resulting in a net loss before exceptional items of Rs. 520.06 lakhs. The company recorded a massive exceptional loss of Rs. 2,008.16 lakhs from the sale of its Fabric Manufacturing division, write-off of the factory building, and excess interest provisions. EPS came in at negative Rs. 75.04 and net worth turned negative at Rs. 36.87 lakhs (accumulated reserves negative at Rs. 1,367 lakhs). The auditor issued a qualified opinion (a repeat qualification since FY 2009-10), noting cash losses of Rs. 276.67 lakhs and referencing ongoing Insolvency and Bankruptcy Code (IBC) proceedings for resolution of liabilities.
This is a deeply negative filing — qualified audit opinion, negative net worth, repeated cash losses, and active IBC insolvency proceedings signal serious financial distress. Shareholders face significant risk of dilution or wipeout under IBC resolution, and the stock is likely to remain under pressure.