Soma Textiles & Industries Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
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Soma Textiles & Industries reported standalone revenue of Rs 8,088 lakhs for FY2026, up 16.2% from Rs 6,960 lakhs in the prior year. The company swung from a loss of Rs 147 lakhs in FY2025 to a net profit of Rs 982 lakhs in FY2026, driven by a pivot from textiles trading to highway construction (new promoters took control in July 2025). Exceptional items of Rs 611 lakhs (foreign exchange gain on loan to associate Soma Textiles FZC and profit on sale of fixed assets) contributed significantly. Operating cash flow is deeply negative at Rs 10,904 lakhs (before exceptional items), driven by a large surge in trade receivables (Rs 9,188 lakhs vs Rs 302 lakhs prior year) and other receivables, reflecting the business transition. The auditor issued an unmodified opinion with an Emphasis of Matter drawing attention to the fully impaired investment in associate Soma Textiles FZC (40% stake), which has accumulated losses exceeding its capital.
The company has successfully turned around from loss to profit following a change in business to highway construction and new management. However, the large negative operating cash flow and massive receivables buildup are red flags that investors should monitor closely, particularly given the impairment on the associate loan.