Outcome of Board Meeting held on 27th May, 2026
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Board approved audited FY2025-26 results showing total income of ₹8,814.10 lakhs (down from ₹10,022.80 lakhs) and a net loss of ₹1,574.43 lakhs, though this improved from the previous year's loss of ₹2,132.31 lakhs. The company's net worth turned positive at ₹12,894.42 lakhs versus negative ₹6,858.62 lakhs last year, mainly due to significant other comprehensive income of ₹21,270.78 lakhs. The statutory auditor issued a qualified opinion citing material uncertainty about going concern, incomplete balance confirmations for advances/receivables totaling ₹395.57 lakhs and trade payables of ₹3,350.77 lakhs, and defaults in statutory dues including EPF (₹124.78 lakhs principal), TDS/TCS (₹24.47 lakhs), ESI (₹4.71 lakhs), and erroneous GST credit of ₹6.75 lakhs. The Board also approved amendment to Memorandum of Association to enter real estate, construction, and retail/e-commerce businesses, alongside re-appointing secretarial, internal, and cost auditors.
The stock faces significant risk due to ongoing losses, qualified auditor opinion, going concern doubts, and statutory compliance issues. However, the sharp reduction in losses and positive net worth restoration may provide some relief. The MOA amendment signals a potential diversification strategy away from textiles.