SVP GLOBAL TEXTILES LIMITED has informed the Exchange regarding Board meeting held on May 30, 2025.
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SVP Global Textiles' board approved audited standalone and consolidated financial results for Q4 and FY ended March 31, 2025, along with the statutory auditor's report (unmodified opinion with emphasis of matter). On the consolidated side, the company reported a massive net loss of Rs 97,953.79 lakhs in FY25 (worse than Rs 43,194.90 lakhs loss in FY24), with revenue collapsing from Rs 30,189.84 lakhs to Rs 9,220.72 lakhs. Exceptional items of Rs 29,001.46 lakhs (including a Rs 462.57 crore write-off of inventory, receivables, and investments at the subsidiary level) drove the loss. Standalone performance was much smaller, with a net loss of Rs 996.33 lakhs in FY25 (improved from Rs 12,336.05 lakhs in FY24 due to prior-year exceptional items). The board also re-appointed M. Goyal & Co. as cost auditor, appointed Shravan A. Gupta & Associates as secretarial auditor for five years (FY26-FY30), and appointed Dhawan & Co. as internal auditor for FY26. Statutory auditor Motilal & Associates LLP issued an unmodified opinion but flagged serious concerns around CIRP proceedings against two key subsidiaries, debt covenant breaches, and pending balance confirmations.
The stock is under severe financial stress - two key subsidiaries are undergoing Corporate Insolvency Resolution Process (CIRP), lenders have recalled loans due to debt covenant breaches, finance costs have not been provisioned since June 2024, and consolidated other equity is deeply negative at Rs 113,442.83 lakhs against total assets of Rs 257,439 lakhs. Shareholders face significant risk of further value erosion; near-term stock price is likely to remain under pressure until the CIRP outcome of the subsidiaries is known.