Key Quantitative Figures

Financial Results (Year Ended 31/03/2026, in ₹ Lakhs)

  • Revenue from Operations: 10.83 (Previous Year: 115.65)
  • Other Income: 517.28 (Previous Year: 602.96)
  • Total Income: 528.11 (Previous Year: 718.61)
  • Total Expenses: 743.26 (Previous Year: 1,012.78)
  • Loss Before Tax: (215.15) (Previous Year: (294.17))
  • Tax Expenses (Deferred Tax Credit): (135.66) (Previous Year: (119.94))
  • Net Loss for the Year: (79.49) (Previous Year: (174.23))
  • Other Comprehensive Income (OCI): 262.10 (Previous Year: (56.04))
  • Total Comprehensive Income for the Year: 182.61 (Previous Year: (230.27))
  • Paid-up Equity Share Capital (Face Value ₹10): 874.02
  • Other Equity: (3,567.31) (Previous Year: (3,749.92))
  • Earnings Per Share (Basic & Diluted): (0.91) (Previous Year: (1.99))

Financial Results (Quarter Ended 31/03/2026, in ₹ Lakhs)

  • Revenue from Operations: 0.56 (Previous Quarter: 1.78; Year-Ago Quarter: 50.42)
  • Other Income: 42.63 (Previous Quarter: 45.72; Year-Ago Quarter: 310.02)
  • Total Income: 43.19 (Previous Quarter: 47.50; Year-Ago Quarter: 360.44)
  • Total Expenses: 177.47 (Previous Quarter: 190.37; Year-Ago Quarter: 217.31)
  • Loss Before Tax: (134.28) (Previous Quarter: (142.87); Year-Ago Quarter: 143.13)
  • Tax Expenses (Deferred Tax Credit): (41.42) (Previous Quarter: (39.43); Year-Ago Quarter: (23.41))
  • Net Loss for the Quarter: (92.86) (Previous Quarter: (103.44); Year-Ago Quarter: 166.54)
  • Other Comprehensive Income (OCI): 298.34 (Previous Quarter: (50.34); Year-Ago Quarter: (106.59))
  • Total Comprehensive Income for the Quarter: 205.48 (Previous Quarter: (153.78); Year-Ago Quarter: 59.95)
  • Earnings Per Share (Basic & Diluted): (1.06) (Previous Quarter: (1.18); Year-Ago Quarter: 1.90)

Cash Flow (Year Ended 31/03/2026, in ₹ Lakhs)

  • Net Cash Used in Operating Activities: (250.33) (Previous Year: (165.10))
  • Net Cash Generated from Investing Activities: 749.74 (Previous Year: 311.10)
  • Net Cash Used in Financing Activities: (488.50) (Previous Year: (203.35))
  • Net Increase in Cash and Cash Equivalents: 10.91 (Previous Year: (57.35))
  • Cash and Cash Equivalents at Year End: 15.53 (Previous Year: 4.62)

Segment Information (Year Ended 31/03/2026, in ₹ Lakhs)

  • Textiles (Yarn) Segment Revenue: 10.83 (Previous Year: 24.08); Segment Result: (480.79) (Previous Year: (381.74))
  • Real Estate Development Segment Revenue: 0.00 (Previous Year: 91.57); Segment Result: 0.00 (Previous Year: 90.27)
  • Total Segment Assets: 2,652.21 (Textiles: 2,105.69; Real Estate: 546.52)
  • Total Segment Liabilities: 5,228.10 (Textiles: 4,767.48; Real Estate: 460.62)

Dates of Action

  • Board Meeting Date: 22nd May, 2026
  • Meeting Commencement Time: 03:00 P.M.
  • Meeting Conclusion Time: 03:40 P.M.
  • Financial Period: Quarter and Year Ended 31st March, 2026
  • Supreme Court Order Date: 25th March, 2026

Parties Involved

  • Auditor: Lodha & Co. LLP (Firm Registration No. 301051E/E300284), Partner A M Hariharan (Membership No. 038323)
  • Stock Exchanges: Bombay Stock Exchange Limited, National Stock Exchange of India Limited
  • Regulator: SEBI
  • Courts: Hon'ble Supreme Court, Hon'ble High Court, Mumbai
  • Association: CPP Association

Purpose or Stated Rationale

The disclosure is a mandatory submission of audited financial results to the stock exchanges as per SEBI Listing Regulations.

Financial or Operational Impact

Emphasis of Matter by Auditor (Note 6)

The Hon'ble Supreme Court, vide its Order dated 25th March, 2026, decided against the company regarding an electricity duty of ₹305.54 lakhs for earlier years. The company has decided to file a review petition through the CPP Association and, based on expert legal opinion, expects a favorable decision. Consequently, no provision has been made for the duty and any interest/penalty.

Material Uncertainty Related to Going Concern (Note 4)

The auditor highlights that the company has incurred cash losses, eroded its entire net worth, and discontinued manufacturing operations at its Kolhapur plants since 25th March 2019 (closure announced on 30th March 2022). The financial results are prepared on a going concern basis as management has settled lender bank dues (by borrowing from promoter group companies) and plans to undertake further development of available land at Kolhapur, yarn trading, or other business activities.

Other Key Notes

  • Note 5: Other Income for the year includes ₹370.22 lakhs (PY: ₹130.47 lakhs) from profit on the sale of plant, machinery, and freehold land at Kolhapur.
  • Note 7: The company recognized a provision of ₹27.42 lakhs towards an incremental gratuity liability for past periods due to the enactment of the four Labour Codes on 21st November 2025. It will re-evaluate the impact upon notification of rules and state-level regulations.
  • The figures for the last quarter and corresponding quarter of the previous year are balancing figures between audited annual and unaudited quarterly figures.

Capital Structure Impact

No change in paid-up equity share capital reported. The capital structure remains affected by accumulated losses, reflected in negative other equity of ₹(3,567.31) lakhs.

Cash Flow Implications

Significant cash inflow from investing activities (₹749.74 lakhs) was primarily from the sale of property, plant, and equipment (₹750.60 lakhs). This was offset by cash outflows from operating and financing activities, resulting in a net cash increase of ₹10.91 lakhs.

Forward-Looking Guidance or Management Commentary

Management commentary is limited to the stated plans to develop available land in Kolhapur and pursue other business activities, and the expectation of a favorable outcome in the electricity duty review petition. No explicit financial guidance is provided.