Outcome of Board Meeting held today i.e. Thursday, 28th May, 2026 pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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Samtex Fashions Ltd reported its FY2026 audited financial results with a Qualified Opinion from auditors Kapil Kumar & Co. The standalone results show a net loss of Rs 31.82 lakhs (vs Rs 29.57 lakhs loss in FY25), with total income of just Rs 0.14 lakhs. The company has not undertaken any manufacturing or business activity for years. The standalone net worth is deeply negative at Rs -1,521.75 lakhs, while consolidated net worth stands at Rs -25,451.39 lakhs. No dividend was declared. The auditors flagged multiple concerns including: non-charging of depreciation on PPE, unconfirmed trade receivables of Rs 587.34 lakhs (standalone), and Rs 28,477.48 lakhs (consolidated) without ECL provisions. The auditors also highlighted that the company gave a corporate guarantee of Rs 807.46 crores for its subsidiary SSA International Ltd, which has been classified as NPA, with SARFAESI notices issued and the company declared a willful defaulter by IDBI Bank.
This is a high-risk filing. The qualified audit opinion combined with explicit going concern doubts, negative net worth, massive contingent liabilities from the subsidiary's NPA exposure (Rs 807.46 crores), and zero business activity signal extreme financial distress. Shareholders face potential total loss of investment value as the company may be unable to continue operations.