OUTCOME OF 307TH BOARD MEETING HELD ON 28TH MAY 2026 FOR APPROVAL OF AUDITED FINANCIAL STATEMENT FOR THE QUARTER AND YEAR ENDED 31ST MARCH 2026
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Salora International Ltd reported audited financial results for FY26 with significant revenue decline. Revenue from operations dropped to Rs. 5,241.80 lakhs from Rs. 15,090.30 lakhs in FY25, representing a 65% decline. The company posted a net loss of Rs. 407.46 lakhs compared to a loss of Rs. 132.61 lakhs in the previous year. An exceptional item of Rs. 237.77 lakhs was written off due to lapse of deferred tax assets. The statutory auditors issued an un-modified (clean) opinion on the financial statements. The board also approved appointments of internal auditors and cost auditors, and disclosed related party transactions with directors and associated entities. A pending Supreme Court case (SLP admitted on merits) represents a contingent liability.
The company is facing severe financial stress with revenue declining by 65% and losses tripling. However, the clean audit opinion provides some comfort. Shareholders should monitor the company's ability to turn around operations given the significant revenue contraction.