Un-audited Financial Results for the Quarter ended 31.12.2024.
Awaiting price reaction for this filing.
Vijay Textiles reported deeply negative Q3 FY25 results with revenue from operations falling to ₹221.06 lakhs, down about 29% from ₹310.39 lakhs in the same quarter last year. The company posted a net loss of ₹228.14 lakhs for the quarter, much wider than the ₹72.10 lakhs loss in Q3 FY24, while total expenses of ₹539.96 lakhs far exceeded total income of ₹229.71 lakhs. For the nine months ended December 2024, revenue collapsed 35% to ₹670.19 lakhs and the loss ballooned to ₹1,062.52 lakhs from ₹505.60 lakhs a year ago. The auditor flagged a material uncertainty on going concern, noting the failed ₹79.60 crore one-time settlement with SBI and Axis Bank, an ongoing SARFAESI recovery case, and the fact that the bank-appointed Advocate Commissioner took physical possession of the company's factory in June 2024.
These results signal severe financial distress — shrinking revenue, mounting losses, a factory already taken over under SARFAESI, and an explicit going-concern warning from auditors. Shareholders should view this as a high-risk situation where the company's survival as a going concern is uncertain and the equity is likely to face significant pressure.