Outcome of Board Meeting held on 28.01.2026.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.6 pts more than Nifty Microcap 250 and 3.6 pts more than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The Board of Directors approved the unaudited financial results for the quarter and nine months ended December 31, 2025. Revenue from operations for Q3 stood at ₹682.95 lakhs, down nearly 20% from ₹850.51 lakhs in the same quarter last year. For the nine-month period, revenue fell to ₹2,074.71 lakhs from ₹2,301.63 lakhs, a decline of about 10%. The company reported an exceptional item of ₹225.01 lakhs, mainly a write-off of ₹214.11 lakhs in export duty credit that is no longer realisable, plus ₹10.90 lakhs in earlier GST demands. Profit after tax for nine months was ₹121.63 lakhs versus ₹223.91 lakhs a year ago. The auditor (K.S. Rao & Co.) issued a qualified conclusion because no provision was made for interest on unpaid TDS dues of ₹29.69 lakhs. The company also disclosed accumulated losses of ₹1,803.47 lakhs and current liabilities exceeding current assets, but is continuing to prepare accounts on a going concern basis citing the market value of its immovable properties.
Several red flags for shareholders: revenue is shrinking year-on-year, the auditor has qualified the review report, accumulated losses have crossed ₹18 crore, and working capital remains negative. The going-concern qualifier and exceptional write-offs suggest underlying stress, which could weigh on the stock and signal higher risk going forward.