Vardhman Polytex Limited has informed the Exchange regarding Change in Auditors of the company.
VARDMNPOLY · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Vardhman Polytex reported FY26 revenue of Rs 236.7 crore, down 21% from Rs 311.1 crore in FY25. Net profit after tax declined 48.5% to Rs 7.68 crore from Rs 14.92 crore in the prior year. The company raised Rs 75 crore via NCDs in April 2026 and Rs 15 crore via OCDs in May 2026 to fully repay Phoenix ARC debt. Despite net worth being fully eroded (negative equity of Rs 197 crore), management prepared financials on going concern basis. Segmentally, Textiles reported loss of Rs 3.38 crore before interest while Real Estate contributed Rs 20.04 crore profit. Share capital increased to Rs 48.3 crore after conversion of 2.41 crore warrants. Auditors Navneet Sehgal & Co. issued an unmodified opinion.
Significant revenue and profit decline with negative net worth raises serious concerns about financial health, though fresh debt issuance and asset sales (Ludhiana land, Bathinda land) provide some liquidity support. Going concern basis indicates management sees operational continuation as viable.