BSE: 519014
PRASHANT INDIA LTD.
Operates in two segments: a Textile division (based at Palsana, Surat) that has already been shut down and whose plant, machinery and factory land/building are being sold off as scrap, and a Wind farm segment that continues to generate small amounts of revenue. FY26 total income was Rs. 13.93 lakhs, down from Rs. 30.29 lakhs in FY25, while quarterly revenue is effectively nil (Rs. 1.13 lakhs in Q3 FY26). The company reported a net profit of Rs. 636.63 lakhs for FY26, but this was almost entirely due to an exceptional gain of Rs. 1,022.52 lakhs from the sale of fixed assets and investments, not from operating activity; operating loss before exceptional items was Rs. 385.89 lakhs. Quarterly P&Ls show finance costs of Rs. 259.82 lakhs in Q3 alone, far exceeding operating revenue. The statutory auditor issued a qualified opinion and flagged serious doubts about the company's ability to continue as a going concern, citing Rs. 1,153.37 crores of unpaid interest on secured creditor loans accruing since 2001 that has not been provided for. The company's Corporate Identification Number was changed in July 2026 to L68100GJ1983PLC006574, indicating a reclassification of its objects clause. Equity share capital is Rs. 423.54 lakhs and net worth is negative at Rs. 2,684.64 lakhs. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Textile, Wind farm, Unallocated. Small, distressed former textile manufacturer in wind-down, with a residual wind farm business, asset-sale-driven reported profits, negative net worth and auditor-flagged going concern doubts.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1 | 1 | 0 | 0 | 0 |
| EBITDA (ex other income) | (0) | (0) | (0) | (0) | 10 |
| margin % | (10.0) | (20.5) | (136.0) | (264.5) | 113086.0 |
| Owners' profit | (0) | (0) | (0) | (0) | 6 |
| EPS, as reported (₹) | (0.37) | (0.58) | (0.85) | (0.47) | 15.03 |
| ROE % · ROCE % | 0.5 · 0.5 | 0.7 · 0.7 | 1.1 · 1.1 | 0.6 · 0.6 | (23.7) · (36.6) |
| Debt / equity (x) | (1.07) | (1.06) | (1.05) | (1.04) | (1.05) |
| Cash from operations | 0 | (0) | (0) | (1) | (5) |
| Capex | 0 | 0 | 0 | 0 | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | (0) | 0 | (0) | (0) | (0) | 10 | (3) | (1) |
| Net profit | (0) | 0 | (0) | (0) | (0) | 10 | (3) | (1) |
| EPS (₹) | (0.26) | 0.06 | (0.20) | (0.08) | (0.16) | 23.69 | (6.31) | (2.18) |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Textile | 0 | 83.2 |
| Unallocated | 0 | 45.8 |
| Total, before eliminations | 0 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| KPR MILL LTD. | 35,410 | 38.8 | 6.21 | 25.6 | 15.2 | 19.3 | 13.5 | 21.2 |
| WELSPUN LIVING LIMITED | 20,311 | 73.9 | 4.08 | 26.1 | 4.3 | 4.0 | 5.1 | 12.7 |
| VARDHMAN TEXTILES LIMITED | 14,333 | 16.6 | 1.35 | 11.0 | 7.1 | 7.4 | 10.0 | 20.4 |
| TRIDENT LIMITED | 11,018 | 27.7 | 2.31 | 13.5 | 7.9 | 8.6 | 8.1 | 17.7 |
| INDO COUNT INDUSTRIES LTD | 8,338 | 55.3 | 3.54 | 20.1 | 5.4 | 5.4 | 10.5 | 13.3 |
| GARWARE TECH FIBRES LTD | 7,621 | 36.8 | 5.63 | 23.8 | 14.7 | 18.7 | 8.1 | 20.5 |
| FILATEX INDIA LTD | 4,197 | 22.0 | 2.79 | 11.5 | 12.2 | 13.8 | — | 7.6 |
| SANATHAN TEXTILES LIMITED | 4,161 | 68.6 | 2.22 | 18.6 | 4.1 | 3.5 | — | 8.4 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 0.8 | 16.5 | 4 of 179 | 98% |
| ROCE | (23.7) | 4.3 | 207 of 215 | 4% |
| Revenue growth | (100.0) | 6.9 | 186 of 192 | 0% |
| Profit growth | (2666.5) | 20.0 | 202 of 203 | 1% |
| Market cap | 5 | 59 | 220 of 223 | 1% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 15 Oct 2026 · Quarterly confirmation certificate submitted under SEBI Regulation 74(5) | compliance | minimal | — | — |
| 30 Sept 2026 · Independent Director completes second term and steps down | management changes | medium | — | — |
| 30 Sept 2026 · Independent Director Shobhaben Ramani completes her tenure | management changes | medium | — | — |
| 30 Sept 2026 · Prashant India appoints new non-executive non-independent director | management changes | medium | — | — |
| 30 Sept 2026 · New Non-Executive Non-Independent Director appointed at Prashant India | management changes | medium | — | — |
| 29 Sept 2026 · Prashant India 43rd AGM outcome: all 3 resolutions passed | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Trading window closed from 1 Oct 2026 until results declared | compliance | minimal | — | — |
| 26 Sept 2026 · 43rd AGM of Prashant India Ltd held on Sept 26, 2026 | board shareholder meetings | low | — | — |
| 10 Sept 2026 · Corrigendum to 43rd AGM Notice - Shareholding data revised | board shareholder meetings | low | — | — |
| 4 Sept 2026 · Prashant India publishes 43rd AGM notice in newspapers | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.