Key Financial Figures - Consolidated Results
- Revenue from operations: ₹993.11 crore (Q1 FY27) vs ₹932.49 crore (Q1 FY26) and ₹982.97 crore (Q4 FY26)
- Other income: ₹5.13 crore (Q1 FY27) vs ₹6.99 crore (Q1 FY26) and ₹12.86 crore (Q4 FY26)
- Total income: ₹998.24 crore (Q1 FY27) vs ₹939.48 crore (Q1 FY26) and ₹995.83 crore (Q4 FY26)
- Cost of materials consumed: ₹538.86 crore (Q1 FY27) vs ₹456.98 crore (Q1 FY26) and ₹462.87 crore (Q4 FY26)
- Employee benefits expense: ₹113.57 crore (Q1 FY27) vs ₹126.41 crore (Q1 FY26) and ₹108.21 crore (Q4 FY26)
- Finance costs: ₹150.91 crore (Q1 FY27) vs ₹155.87 crore (Q1 FY26) and ₹148.50 crore (Q4 FY26)
- Depreciation and amortization: ₹66.78 crore (Q1 FY27) vs ₹68.21 crore (Q1 FY26) and ₹61.47 crore (Q4 FY26)
- Loss before tax: ₹138.25 crore (Q1 FY27) vs ₹171.56 crore (Q1 FY26) and ₹193.56 crore (Q4 FY26)
- Net loss for period: ₹138.25 crore (Q1 FY27) vs ₹171.56 crore (Q1 FY26) and ₹192.54 crore (Q4 FY26)
- Total comprehensive income: ₹136.55 crore loss (Q1 FY27) vs ₹164.72 crore loss (Q1 FY26) and ₹281.86 crore loss (Q4 FY26)
- EPS (Basic & Diluted): ₹(0.28) (Q1 FY27) vs ₹(0.35) (Q1 FY26) and ₹(0.39) (Q4 FY26)
- Paid-up equity share capital: ₹496.53 crore
- Other equity: ₹(22,024.32) crore
Key Financial Figures - Standalone Results
- Revenue from operations: ₹935.94 crore (Q1 FY27) vs ₹884.52 crore (Q1 FY26) and ₹932.56 crore (Q4 FY26)
- Other income: ₹3.05 crore (Q1 FY27) vs ₹6.11 crore (Q1 FY26) and ₹12.34 crore (Q4 FY26)
- Net loss for period: ₹136.20 crore (Q1 FY27) vs ₹176.48 crore (Q1 FY26) and ₹186.66 crore (Q4 FY26)
- Total comprehensive income: ₹136.20 crore loss (Q1 FY27) vs ₹176.28 crore loss (Q1 FY26) and ₹187.11 crore loss (Q4 FY26)
- EPS (Basic & Diluted): ₹(0.27) (Q1 FY27) vs ₹(0.36) (Q1 FY26) and ₹(0.38) (Q4 FY26)
Exceptional Items
The company recognized an exceptional gain of ₹17.20 crore in Q1 FY27 from an insurance claim settlement for damage caused by a tornado to certain assets of spinning plants located at Silvassa. The claim was filed in FY 2024-25.
Resolution Plan Accounting Treatment
As per Clause 1.2(xi) of the Approved Resolution Plan, outstanding debt amounting to ₹17,384.02 crore assigned to Resolution Applicants does not carry interest for the first 8 years from the Closing Date (September 14, 2020). The debt has been measured at cost, overriding Ind AS requirements which would require recognition at fair value with imputed interest cost. This treatment is based on legal opinion obtained by the company.
Subsidiaries and Joint Ventures
- Consolidated results include: 8 subsidiaries and 2 joint ventures
- 2 subsidiaries reviewed by other auditors: Total revenue ₹57.17 crore, total loss ₹0.12 crore, total comprehensive loss ₹1.97 crore for Q1 FY27
- 6 subsidiaries not reviewed by auditors: Total revenue ₹Nil, net profit after tax ₹Nil, total comprehensive income ₹2.47 crore for Q1 FY27
- 2 joint ventures not reviewed by auditors: Group's share of net loss ₹0.24 crore, Group's share of total comprehensive loss ₹0.24 crore for Q1 FY27
Operational Context
The company has completed all steps under the Resolution Plan approved by NCLT on March 8, 2019. Resolution applicants obtained joint control on September 14, 2020 (Closing Date). The company is restructuring its operations and has accumulated losses of ₹23,784.41 crore as of June 30, 2026. EBITDA for Q1 FY27 was ₹59.57 crore. Financial statements are prepared on a going concern basis considering cash flow projections, improved market conditions, and expected growth in the textile industry.
Business Segment
The group operates in a single primary business segment: "Textiles" (reportable segment per Ind AS 108).
Approval Process
The financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on July 16, 2026. The board meeting commenced at 2:00 p.m. and concluded at 4:15 p.m.
Auditor Review
The results were reviewed by Chaturvedi & Shah LLP, Chartered Accountants (Firm Registration No. 101720W/W100355), who issued an unmodified review conclusion.