This is to inform that the Company has convened Board Meeting on Friday, the 23rd day of May, , 2025 to consider inter-alia approving the audited Financial Results for the quarter and the ....
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Gangotri Textiles' Board, meeting on 23rd May 2025, approved the audited financial results for FY ended 31st March 2025. Revenue from operations was NIL for the year, with total expenses of Rs 7.16 lakhs, resulting in a loss of Rs 7.16 lakhs (loss per share Rs 0.0220). The Board did not recommend any dividend. The 36th AGM is scheduled for 25th July 2025 via video conferencing. Notably, the Board accepted the resignation of Statutory Auditor Mr. T.M. Mohanraj and appointed Mr. M. Gangadaran as the new Statutory Auditor. The auditor issued an unmodified opinion, but a note reveals that all the company's assets have been taken over and sold by lenders, and interest has not been provided since September 2015.
The company continues to post losses with zero revenue, extremely negative reserves (Rs 343 crores) against borrowings of Rs 246 crores, and assets already taken over by lenders — raising serious going-concern doubts. Shareholders should note the auditor change, absence of dividend, and the company's effectively non-operational status before making investment decisions.