Unaudited Financial Results for the Quarter ended 30.06.2025
Awaiting price reaction for this filing.
Suryavanshi Spinning Mills reported its Q1 FY26 unaudited results, with revenue from operations rising to about Rs 1,567.68 lakhs from Rs 1,354.59 lakhs in Q1 FY25, a growth of roughly 16% year-on-year. The company disclosed a going concern note, stating accumulated losses of Rs 2,596.69 lakhs and current liabilities exceeding current assets as of June 30, 2025, though it is continuing as a going concern based on the market value of its immovable properties. The spinning division remains discontinued since November 2023, and the company booked a one-time profit of about Rs 38.87 lakhs from the sale of the division's non-current assets. Other board actions include the resignation of Independent Director Sushma Gupta (personal reasons), appointment of Rajani Elaprolu as Additional Independent Director, and naming HSP & Associates LLP as Secretarial Auditor for five years.
The top-line growth is a positive sign, but the going concern flag, accumulated losses, and reliance on property values to stay solvent are red flags for shareholders. The headline profit is largely driven by a one-time asset sale, not core operations, so the underlying business remains weak.