Date: May 29, 2026 (Board Meeting), June 19, 2026 (Submission)

Board Meeting Outcomes

The Board of Directors meeting held on May 29, 2026 (4:00 PM to 5:30 PM) approved:

1. Audited Standalone and Consolidated Financial Results for quarter and financial year ended March 31, 2026

2. Appointment of Mr. Hemal Kahar (PAN: BEPPK9663A) as Internal Auditor for FY2026-27

3. Appointment of M/s. Nainesh Kantliwala & Co. Cost Accountants (Firm Registration No.: 001303) as Cost Auditors for FY2026-27

KMP / Board / Auditor Changes

Internal Auditor Appointment:

  • Name: Mr. Hemal Kahar
  • Designation: Internal Auditor
  • Effective Date: May 29, 2026
  • Term: April 1, 2026 to March 31, 2027
  • Profile: Holds Master of Commerce degree, pursuing Chartered Accountancy, 9 years experience in taxation and GST
  • Relationship with directors: Not Applicable

Cost Auditor Appointment:

  • Firm: M/s. Nainesh Kantliwala & Co.
  • Designation: Cost Auditor
  • Effective Date: May 29, 2026
  • Term: April 1, 2026 to March 31, 2027
  • Profile: Proprietor Nainesh Kantliwala is Whole Time Cost Accountant with 10 years experience in Cost Audit, Maintenance of Cost Records, Product Costing, GST & Income tax return filings
  • Relationship with directors: Not Applicable

Financial Results (Standalone)

Income Statement Highlights (₹ in lakhs):

  • Total Income: ₹14,209.49 (FY2026)
  • Total Expenditure: ₹14,342.12 (FY2026)
  • Net Loss: ₹132.63 (FY2026) compared to [prior period not fully quantified in data]
  • Earnings Per Share: ₹(0.53) (FY2026)

Balance Sheet Highlights (₹ in lakhs) as at March 31, 2026:

  • Total Assets: ₹8,438.63 (₹9,976.39 in 2025)
  • Total Liabilities: ₹5,711.42 (₹6,595.81 in 2025)
  • Equity Share Capital: ₹1,415.76 (unchanged)
  • Other Equity: ₹1,311.45 (₹1,964.83 in 2025)
  • Net Worth: ₹2,727.21 (₹3,380.59 in 2025)
  • Borrowings: ₹5,568.43 (Current ₹4,831.55 + Non-current ₹736.88)
  • Cash & Cash Equivalents: ₹2.57 (₹0.69 in 2025)

Cash Flow Statement (₹ in lakhs) for FY2026:

  • Net Cash from Operating Activities: ₹1,272.81 (negative ₹477.24 in FY2025)
  • Net Cash used in Investment Activities: ₹(226.13) (₹(94.36) in FY2025)
  • Net Cash from Financing Activities: ₹(1,044.80) (₹569.26 in FY2025)
  • Net Increase in Cash: ₹1.89 (negative ₹2.35 in FY2025)

Management Response to Audit Qualification

The Board stated that:

  • Provisions for post-employment benefits are determined based on actuarial valuation methods per Ind AS
  • The company decided to pay benefits as they become due since the amount is "negligible" and won't impact financial position
  • Considering company size and "negligible liability," no provisions were made under Defined Benefit Plans

Operational Highlights

  • Company has only one reportable segment: Textiles
  • Profitability supported by strategic cost-optimization measures
  • Increased solar power generation reduced overall energy expenses
  • Q2 FY2026 adverse weather conditions limited solar generation to 65% of installed capacity
  • Generation improved in current quarter (Q4) and expected to normalize further
  • Operational performance and profitability anticipated to improve going forward

Subsidiary/Associate Information

  • Mohit Overseas Limited (Associate) - 49.25% ownership
  • Mohit Yarns Limited (Associate) - 49.48% ownership

Consolidated Financial Results

Key Figures (₹ in lakhs):

  • Total Assets: ₹14,965.57 (₹24,197.39 in 2025)
  • Net Worth (incl. minority interest): ₹9,254.15 (₹17,601.59 in 2025)
  • Total Liabilities: ₹5,711.42 (₹6,595.81 in 2025)
  • Investments: ₹7,759.60 (₹16,006.84 in 2025)

Other Disclosures

  • Financial results prepared in accordance with Ind AS 34 "Interim Financial Reporting"
  • Previous period figures regrouped/reclassified where necessary
  • Results reviewed by Audit Committee before board approval