Q1 loss widens to Rs 5.52 cr; auditor flags going concern doubt
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Sri Lakshmi Saraswathi Textiles posted Q1 FY27 net loss of Rs 551.84 lakhs versus Rs 377.05 lakh loss in the year-ago quarter. Net sales dipped to Rs 2070.36 lakhs from Rs 2197.69 lakhs. Auditor issued a qualified opinion, flagging material going concern doubt due to accumulated losses of Rs 10,514 lakhs and negative net worth of Rs 85.10 crores after excluding the revaluation reserve. Also flagged unpaid EPF of Rs 149.10 lakhs, ESI of Rs 5.24 lakhs, TDS of Rs 22.83 lakhs, and an unconfirmed capital advance of Rs 34.58 lakhs outstanding for over three years.
Persistent losses, negative net worth, and unpaid statutory dues signal serious financial distress. Going concern flag is a major red flag for shareholders.