FLEXITUFF VENTURES INT L

Operates in the textiles sector, manufacturing other textile products, with a plant at Kashipur. Revenue from operations collapsed to Rs. 1,680.06 lakhs in FY26 from Rs. 28,857.17 lakhs in FY25, an unprecedented year-on-year drop. The Kashipur plant was shut down during the year due to a labor strike over unpaid wages and raw material shortages, which explains the revenue collapse. Cost structure shows employee costs at 60.5% of revenue, materials at 50.4%, and depreciation at 145.1% of a now-tiny revenue base, leaving the company deep in operating losses. The company has defaulted on bank borrowings of Rs. 25,971.26 lakhs, with SARFAESI notices issued by lenders, and current liabilities exceed current assets by Rs. 32,233.86 lakhs. Statutory auditors resigned in June 2026 citing non-payment of audit fees and inability to obtain sufficient audit evidence, and issued an Adverse Opinion on FY26 results flagging going concern doubt and complete erosion of net worth (negative equity of Rs. 10,682.58 lakhs on a standalone basis).