Summary of Key Information:
Reporting Period (Quarter/Year): Quarter Ended June 30, 2026 (Q1 FY27)
Nature of Filing / Announcement: Outcome of Board Meeting and Unaudited Financial Results
Date of Board Meeting / Approval: August 14, 2026
Audit Opinion: Clean (Unmodified)
Auditor's Comment: Emphasis of Matter regarding company's operational losses, liquidity position, and dependence on successful implementation of turnaround initiatives. Also emphasis on material unreviewed joint venture results.
Key Financial Highlights [Amounts in INR Lakhs]
Standalone Results:
Revenue from Operations: ₹8,606.24 (Q1 FY27) vs ₹13,010.96 (Q1 FY26) - Decline of 33.9% YoY
Total Income: ₹8,620.11 vs ₹13,117.95 (Q1 FY26)
Net Profit: Loss of ₹149.65 vs Loss of ₹1,701.26 (Q1 FY26)
EPS: -₹3.11 (Basic & Diluted) vs -₹35.32 (Q1 FY26)
Consolidated Results:
Revenue from Operations: ₹8,606.24 (Q1 FY27) vs ₹13,010.96 (Q1 FY26) - Decline of 33.9% YoY
Total Income: ₹8,620.11 vs ₹13,117.95 (Q1 FY26)
Net Profit: Loss of ₹149.65 vs Loss of ₹1,701.26 (Q1 FY26)
EPS: -₹3.11 (Basic & Diluted) vs -₹35.32 (Q1 FY26)
Share of Profit from Joint Venture: ₹644.70
Segment-wise Performance:
The company has only one reportable operating segment: Manufacturing of Textiles and Garments
Corporate Actions:
80th Annual General Meeting scheduled for Tuesday, September 22, 2026 to be held through Video Conferencing / Other Audio-Visual means
No dividend declared for the quarter
Other Significant Information:
Exceptional Items: Profit on Sale of Assets of ₹233.76 lakhs from disposal of idle plant and machinery
Discontinued Operations: Loss of ₹118.04 lakhs from discontinued operations
Turnaround Initiatives: Company continues realignment and rationalization of manufacturing operations to improve capacity utilization, enhance operational efficiencies, and optimize costs
Asset Monetization: Considerable progress in monetization of underutilized and non-core assets, with further assets identified for monetization including assets classified as 'Held for Sale'
Joint Venture Disclosure: Consolidated results include Group's share of Net Profit of ₹644.70 lakhs from Gruppo P&P Loyal SPA, a Foreign Joint Venture, whose financial information was not subjected to review (non-compliance with Regulation 33(3)(h) of SEBI LODR)
Tax Position: No current tax recognized due to losses from continuing and discontinued operations together with implications of exceptional items
Notes:
- Financial results prepared in accordance with Indian Accounting Standards (Ind AS 34)
- Figures for quarter ended March 31, 2026 are balancing figures between audited annual figures and unaudited nine-month figures
- Previous year exceptional items included: Profit on Sale of Assets (₹3,381.64 lakhs), Impairment of Inventories (₹3,646.60 lakhs), and New Labour Code Gratuity Obligation (₹107 lakhs)
- Management confident of achieving sustainable operational profitability in near future based on progress in operational improvement and liquidity enhancement