Re-appointment of Internal auditor for the FY 2026-27
SUPERSPIN · price
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On the reaction day the stock moved 0.5 pts less than Nifty Microcap 250 and 0.6 pts less 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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Super Spinning Mills reported audited FY26 results with continuing operations (rental services) revenue of Rs.630.91 lakhs, down from Rs.662.73 lakhs in FY25 — a decline of about 5%. The company posted a total comprehensive loss of Rs.580.19 lakhs for the year, though this is significantly improved from the Rs.1,640.08 lakh loss in FY25. The textile business remains discontinued. A major contingent liability exists from power disputes with SPDCL — Rs.8,324.06 lakhs claimed versus only Rs.1,907.56 lakhs recognized as payables. The company has entered a joint venture for developing its Puliakulam land. Statutory auditors CSK Prabhu and Co issued an unmodified opinion. Mr. A Palaniappan was reappointed as internal auditor for FY27.
The stock may see limited movement as losses persist but improve from prior year. The huge disputed power claim (Rs.8,324 lakhs vs Rs.1,908 lakhs provided) remains a significant litigation risk that investors should monitor closely.