Unaudited Results for the 1st Quarter June 2025
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Awaiting price reaction for this filing.
Sri Lakshmi Saraswathi Textiles reported a net loss of Rs. 377.05 lakhs in Q1 FY26, an improvement from the Rs. 619.19 lakhs loss in the same quarter last year. Net sales declined about 5.6% year-on-year to Rs. 2,197.69 lakhs, while total income from operations stood at Rs. 2,223.90 lakhs. Employee costs rose sharply to Rs. 540.64 lakhs from Rs. 424.51 lakhs a year ago, and finance costs stayed elevated at Rs. 154.90 lakhs. The statutory auditor issued a qualified opinion, flagging accumulated losses of Rs. 9,195.89 lakhs and negative net worth as a material going concern uncertainty. The auditor also highlighted an emphasis of matter regarding unpaid Employees' Provident Fund (Rs. 88.35 lakhs) and ESI (Rs. 4.09 lakhs) dues including interest and penalties. Management stated the company continues to operate on a going concern basis, citing expected improvement in industry conditions.
Negative net worth, ongoing losses and a qualified auditor opinion with a going concern flag make this a high-risk situation for shareholders. The unpaid statutory dues add to financial stress, and the stock is likely to remain under pressure until the company demonstrates a clear turnaround in profitability and improves its balance sheet.