Audited Financial results for the quarter and year ended 31st March, 2025 as per SEBI (LODR) Regulations, 2015
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Samtex Fashions reported extremely weak results for FY25, with standalone revenue of just Rs 10.80 lakhs (down nearly 50% from Rs 21.51 lakhs in FY24) and a net loss of Rs 29.23 lakhs (vs Rs 31.94 lakhs loss in FY24). On a consolidated basis, revenue was Rs 435.07 lakhs with a much larger net loss of Rs 118.04 lakhs, though losses narrowed sharply from Rs 468.65 lakhs in FY24. The auditor issued a qualified opinion, citing multiple unresolved issues including no impairment testing on fixed assets, unconfirmed trade receivables of Rs 587 lakhs (standalone) and Rs 28,470 lakhs (consolidated), non-compliance with Ind AS 19 for employee benefits, and no depreciation being charged. The auditor also flagged a Material Uncertainty Related to Going Concern, noting accumulated losses, fully eroded net worth (consolidated other equity at negative Rs 25,455 lakhs), current liabilities exceeding current assets, and no business activity carried out during the year.
This is a deeply distressed company with no real operations, fully eroded shareholder equity, and a massive Rs 807.46 crore corporate guarantee given for its NPA-classified subsidiary SSA International Ltd. Shareholders face near-total loss of value, significant litigation exposure (declared wilful defaulter by IDBI Bank), and the stock is essentially a non-performing, non-operating shell — extremely high risk.