Un-audited Financial Results for the Quarter and Half-Year ended 30.09.204.
Awaiting price reaction for this filing.
Vijay Textiles reported revenue of Rs 224.38 lakhs in Q2 FY25 versus Rs 310.39 lakhs in Q2 FY24, a decline of around 28%. Half-year revenue fell to Rs 449.13 lakhs from Rs 728.01 lakhs, a drop of roughly 38%. The company reported a wider net loss of Rs 859.77 lakhs for H1 FY25 (vs Rs 438.11 lakhs a year ago), with basic EPS of Rs (4.70). Finance costs remain heavy at Rs 445.59 lakhs for the half-year, and losses before tax nearly doubled to Rs 752.27 lakhs. Critically, the factory unit was taken possession of by an Advocate Commissioner on 6 June 2024 under SARFAESI Act, bank accounts are classified as NPAs, and a one-time settlement of Rs 79.60 crores was revoked in May 2023.
This is a deeply distressed filing. The auditor has flagged a material uncertainty on the company's ability to continue as a going concern, factory possession has been taken by lenders, and a DRT hearing is scheduled for 14 May 2025 for attachment of immovable property. Shareholders face high risk of total loss or significant dilution if a resolution or liquidation process unfolds.