Meyer Apparel Limited held a Board of Directors meeting on August 12, 2026, which commenced at 12:40 PM and concluded at 1:10 PM. The Board considered and approved the Unaudited Financial Results for the quarter ended June 30, 2026, along with the Limited Review Report from the statutory auditors.

Financial Results (Amounts in Lakhs)

Quarter Ended June 30, 2026 Performance:

  • Revenue from operations: ₹0.00 (compared to ₹8.02 lakh in Q1 FY26 and negative ₹0.08 lakh in Q4 FY26)
  • Other Income: ₹0.30 lakh
  • Total Income: ₹0.30 lakh
  • Total Expenses: ₹22.75 lakh (comprising Employee Benefits: ₹11.79 lakh, Finance Costs: ₹3.33 lakh, Depreciation: ₹0.14 lakh, Other Expenses: ₹7.49 lakh)
  • Loss before exceptional items and tax: ₹22.45 lakh
  • Exceptional Items: ₹48.00 lakh (one-time legal settlement cost)
  • Loss before tax: ₹70.45 lakh
  • Tax Expense: ₹0.00
  • Net Loss for the quarter: ₹70.45 lakh
  • Other Comprehensive Income: ₹0.12 lakh
  • Total Comprehensive Loss: ₹70.33 lakh
  • Earnings Per Share (Basic and Diluted): -₹0.09 (face value ₹3 per share)

Comparative Performance:

  • Q1 FY26: Net Loss of ₹18.85 lakh
  • Q4 FY26: Net Loss of ₹24.20 lakh
  • Full Year FY26: Net Loss of ₹78.80 lakh

Balance Sheet Position as of June 30, 2026:

  • Paid-up Equity Share Capital: ₹2,426.67 lakh (unchanged)
  • Accumulated Losses: ₹6,366.45 lakh
  • Negative Net Worth: ₹3,426.78 lakh
  • Current liabilities exceed current assets by ₹3,426.16 lakh

Key Disclosures

1. Going Concern Assessment: Management acknowledges accumulated losses of ₹6,366.45 lakh and negative net worth of ₹3,426.78 lakh but believes the company will continue as a going concern. They expect improved operational efficiencies and strategic initiatives to generate adequate cash flows, and are exploring additional business opportunities and funding avenues.

2. Exceptional Item: The ₹48.00 lakh expense represents a one-time settlement cost for a legal matter, which is non-recurring in nature and not expected to arise in future periods.

3. Business Segments: The company operates in a single business segment - wholesaling and retailing of men's suits and trousers, predominantly within India.

4. Auditor's Review: Khandelwal Jain & Co. issued a limited review report highlighting material uncertainty regarding going concern due to accumulated losses and negative net worth, but issued an unmodified conclusion otherwise.