PRAXIS HOME RETAIL LTD

Operates a retail business selling home products under the Praxis brand, based on the registered name Praxis Home Retail Ltd. In FY26, revenue from operations stood at Rs 95.66 cr, down 19.6% from Rs 118.97 cr in FY25. The cost base is typical of a store-led retailer, with other operating expenses at 54.7% of revenue (Rs 52.28 cr), employee costs at 20% (Rs 19.16 cr), and depreciation at 21.6% of revenue (Rs 20.64 cr), while reported materials cost is nil. The company posted a net loss of Rs 66.6 cr in FY26 versus Rs 35 cr in FY25, with Q4 FY26 alone absorbing a Rs 115.3 cr loss that included a Rs 101 cr exceptional ECL provision on a security deposit from related party Future Enterprises Limited, which is under insolvency proceedings. To fund operations and settle trade payables, it completed a rights issue of Rs 49.58 cr in August 2025 and entered an unsecured loan facility of up to Rs 14.5 cr with CMS IT Services at 11% per annum interest. The statutory auditor flagged material uncertainty on going concern, citing negative net worth of Rs 77.2 cr, cash loss of Rs 40.6 cr, and current liabilities exceeding current assets.