Goodricke Group Q1 FY27 Net Loss of ₹2.87 Crore

The Board approved the unaudited financial results for Q1 FY27.

Revenue from Operations: ₹17,451 lakhs (Q1 FY26: ₹21,130 lakhs)
Other Income: ₹538 lakhs (Q1 FY26: ₹455 lakhs)
Total Income: ₹17,989 lakhs (Q1 FY26: ₹21,585 lakhs)
Total Expenses: ₹17,839 lakhs (Q1 FY26: ₹17,850 lakhs)
Profit/(Loss) before exceptional items and tax: ₹150 lakhs (Q1 FY26: ₹3,735 lakhs)
Exceptional Items: ₹0 lakhs (Q1 FY26: ₹560 lakhs)
Profit/(Loss) before tax: ₹150 lakhs (Q1 FY26: ₹4,295 lakhs)
Tax Expense: ₹(1,873) lakhs (credit) (Q1 FY26: ₹146 lakhs expense)
Current tax: ₹801 lakhs
Deferred tax: ₹(2,674) lakhs (credit)
Profit/(Loss) for the period: ₹2,023 lakhs (Q1 FY26: ₹4,149 lakhs)
Paid-up equity share capital: ₹2,160 lakhs (face value ₹10 each)
Earnings Per Share (Basic & Diluted): ₹9.36 (Q1 FY26: ₹19.21)

MSKA & Associates LLP issued a qualified conclusion on the financial results.

Basis for Qualification: The valuation of stock of finished tea goods as of 30th June 2026 is at the lower of cost and net realizable value. However, the cost considered is based on the estimated production and expenditure for the full year ending 31st March 2027, which is not in compliance with Indian Accounting Standard 2 (Ind AS 2). The standard requires the use of actual cost for the period.
Impact: The management has not ascertained the financial impact of this non-compliance. Consequently, the auditors are unable to comment on its effect on the stated results.
Precedent: This issue is a repeat of a qualification made by the predecessor auditor in their review report for the quarter ended 30th June 2025.

Appointment of Internal Auditors: The Board approved the appointment of M/s Grant Thornton Bharat LLP (LLP Identification No. AAA-7677) as the Internal Auditors for the company's Tea Estates and other units. The term is for three consecutive financial years, from FY 2026-27 to FY 2028-29.
Asset Sale: The Board took note of the sale of specified assets and assignment of leasehold rights of land of a tea estate. This sale was in line with the Board's approval granted on 3rd April 2026.

The Board Meeting commenced at 12:30 PM IST and concluded at 5:45 PM IST on 11th August 2026.
The financial results were reviewed by the Audit Committee prior to Board approval.

The company's own crop for the quarter was 41% higher than the corresponding period of the previous year (excluding the impact of crop from tea estates that were sold).
The performance is seasonal and impacted by weather conditions and cropping patterns.