Outcome of Board Meeting held on 13.11.2025 to approve the Un-Audited Standalone and Consolidated Financial Results for the Quarter and Half Year ended 30.09.2025
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Samtex Fashions' board approved its unaudited financial results for Q2 and H1 FY26 (ended September 30, 2025) on November 13, 2025. The company reported a loss of about Rs 16.29 lakh on a standalone basis and Rs 20.55 lakh on a consolidated basis for the half-year, with negligible revenue from operations. The auditor (Kapil Kumar & Co.) issued a qualified conclusion along with a separate 'Material Uncertainty Related to Going Concern' note, flagging that the company has accumulated losses, its net worth has fully eroded (standalone equity is negative at Rs 14.98 lakh; consolidated at negative Rs 23,968.94 lakh), and no business activity has been carried out during the year. The auditor also raised multiple emphasis-of-matter points, including a corporate guarantee of Rs 807.46 crore given for its defaulted wholly-owned subsidiary M/s SSA International Ltd, which has been classified as a non-performing asset, with IDBI Bank declaring the company a willful defaulter and SARFAESI/DRT proceedings underway.
Very negative for shareholders — the company is effectively non-operational, deeply loss-making with fully eroded net worth, and faces massive contingent liability from a subsidiary's bank defaults. Auditors have flagged a going-concern uncertainty and a qualified review report, which signals serious solvency and governance risk and could weigh heavily on the stock.