The Board considered, noted, and approved the following matters:

1. Financial Results and Audit:

  • Approved the Standalone Audited Financial Results for the quarter and year ended 31 March 2026, the Standalone Statement of Assets & Liabilities, and the Standalone Cash Flow Statement as at 31 March 2026.
  • Statutory Auditors, M/s. Lodha & Co LLP (FRN: 301051E/E300284), issued an audit report with an unmodified opinion on the Audited Financial Results (Standalone) for the year ended 31 March 2026.

2. Regulatory Compliance:

  • Submitted a declaration duly signed by the Chief Financial Officer (CFO) pursuant to the second proviso to Regulation 33(3)(d) of the SEBI LODR Regulations, 2015.
  • Submitted details of Outstanding Qualified Borrowings and Incremental Qualified Borrowings in reference to SEBI Circular No. SEBI/HO.DDHS.DDHS-RACPODI/P/CIR/2023/172 dated October 19, 2023, duly signed by the CFO. The details provided were:
  • Outstanding Qualified Borrowings at the start of the Financial Year: Nil
  • Outstanding Qualified Borrowings at the end of the Financial Year: Nil
  • Highest credit rating for unsupported bank borrowings or plain vanilla bonds: Nil
  • Incremental Borrowing done during the year (qualified borrowing): Nil
  • Borrowings by way of issuance of Debt Securities during the year: Nil

3. Corporate Action:

  • The issue of equity shares on a preferential basis has been deferred to the next meeting.

Detailed Financial Performance (Standalone)

(All figures in ₹ lakhs)

For the Quarter ended March 31, 2026 (Audited):

  • Revenue from Operations: 3,791
  • Other Income: 22
  • Total Income: 3,813
  • Total Expenses: 4,494
  • Loss before exceptional item and tax: (681)
  • Exceptional Item (Refer Note 4): (118)
  • Loss after exceptional item and before tax: (681) - (118) = (799) [Note: The provided table shows (681) for this line, indicating the exceptional item was included in the pre-tax loss calculation]
  • Tax Expense: (190) [Deferred Tax: (190); Prior Period Tax Expense: 0]
  • Loss after tax: (491)
  • Other Comprehensive Income: (3)
  • Total Comprehensive Loss: (494)
  • Earnings per share (Basic & Diluted): ₹ (2.80)

For the Year ended March 31, 2026 (Audited):

  • Revenue from Operations: 16,056
  • Other Income: 179
  • Total Income: 16,235
  • Total Expenses: 17,327
  • Loss before exceptional item and tax: (1,092)
  • Exceptional Item (Refer Note 4): (1,286)
  • Loss after exceptional item and before tax: (1,092) - (1,286) = (2,378) [Table shows (1,286)]
  • Tax Expense: (118) [Deferred Tax: (118); Prior Period Tax Expense: 0]
  • Loss after tax: (1,404)
  • Other Comprehensive Income: 332
  • Total Comprehensive Loss: (1,072)
  • Earnings per share (Basic & Diluted): ₹ (6.11)

Comparative Figures (Year ended March 31, 2025 - Audited):

  • Loss after tax: (546)
  • Total Comprehensive Loss: (465)
  • Earnings per share (Basic & Diluted): ₹ (2.65)

Financial Position as at March 31, 2026 (Standalone)

(Rs. in lakhs)

Liabilities:

  • Total Equity: 7,267.67
  • Equity Share Capital: 1,754.96
  • Other Equity: 5,512.71
  • Non-Current Liabilities: 2,882.40
  • Borrowings: 2,352.27
  • Provisions: 187.59
  • Deferred Tax Liabilities (Net): 342.54
  • Current Liabilities: 2,364.89
  • Borrowings: 1,466.37
  • Trade Payables: 1,801.39
  • Total outstanding dues of micro enterprises and small enterprises: 250.07
  • Total outstanding dues of other creditors: 1,551.32
  • Other Current Liabilities: 483.13
  • Provisions: 121.53

Total Equity and Liabilities: 12,514.86

Assets:

  • Non-Current Assets: 5,558.04
  • Current Assets: 6,956.82
  • Inventories: 4,215.12
  • Financial Assets:
  • Investments: 1,115.24
  • Trade Receivables: 377.38
  • Cash and Cash Equivalents: 181.70
  • Bank balances other than Cash and Cash Equivalents: 14.37
  • Other Financial Assets: 1,053.01
  • Other Current Assets: 43.69
  • Assets held for Sale: 0

Total Assets: 12,514.86

Cash Flow Statement for the Year ended March 31, 2026 (Standalone)

(Rs. in lakhs)

  • Net Cash Flow from Operating Activities: (555.56)
  • Net Cash Flow from Investing Activities: 1,149.36
  • Net Cash Flow from Financing Activities: (472.31)
  • Net Increase/(Decrease) in Cash and Cash Equivalents: 121.49
  • Cash & Cash Equivalents at the beginning of the year: 255.89
  • Cash & Cash Equivalents at the end of the year: 377.38

Notes to the Financial Results

1. The results were reviewed by the Audit Committee and approved by the Board on May 28, 2026. The Statutory Auditors audited the annual results.

2. The company operates primarily in the Textile Products segment, which is its sole reportable segment.

3. The quarterly figures are the balancing figures between the audited annual figures and the published year-to-date figures up to the third quarter.

4. Exceptional Item: The Government of India notified new Labour Codes on November 21, 2025. Based on draft rules and an actuarial valuation as of December 31, 2025, the company recognized a provision of ₹118 lakhs (₹12.86 million for the year) towards the incremental liability for past periods relating to employee benefits under Ind AS 19.

5. Previous period figures have been regrouped and reclassified for comparability.

Declaration and Compliance

The Chief Financial Officer, V. Raghu Ram, submitted a declaration confirming the statutory auditors issued an unmodified opinion on the annual audited financial results.