Board Meeting Details

  • Meeting held on: 26th May, 2026
  • Time of commencement: 03.00 P.M.
  • Time of conclusion: 03.55 P.M.

Financial Results Approval

The Board of Directors approved the audited standalone financial results for the quarter and year ended March 31, 2026.

Auditor Appointments

1. Cost Auditor: Based on Audit Committee recommendation, appointed Mr. Satnam Singh Saggu, Cost Accountants (Membership No. 10555) as cost auditors for Financial Year 2026-27.

2. Internal Auditor: Based on Audit Committee recommendation, appointed M/s Suresh Kumar Mittal & Company, Chartered Accountants, as Internal Auditor for financial year 2026-27.

Related Party Transactions

Approved related party transactions for the quarter ended 31.03.2026.

Financial Performance (Standalone)

Quarter Ended March 31, 2026:

  • Revenue from Operations: ₹2,820 lacs
  • Other Income: ₹28 lacs
  • Total Revenue: ₹2,848 lacs
  • Total Expenses: ₹2,600 lacs
  • Profit before tax: ₹248 lacs
  • Tax expense: ₹71 lacs
  • Profit for the period: ₹177 lacs
  • EPS (Basic & Diluted): ₹1.90

Year Ended March 31, 2026:

  • Revenue from Operations: ₹9,934 lacs (Previous year: ₹10,050 lacs)
  • Other Income: ₹140 lacs (Previous year: ₹125 lacs)
  • Total Revenue: ₹10,074 lacs (Previous year: ₹10,175 lacs)
  • Total Expenses: ₹9,757 lacs (Previous year: ₹10,089 lacs)
  • Profit before tax: ₹317 lacs (Previous year: ₹86 lacs)
  • Tax expense: ₹95 lacs (Previous year: ₹(2) lacs)
  • Profit for the period: ₹222 lacs (Previous year: ₹88 lacs)
  • EPS (Basic & Diluted): ₹2.37 (Previous year: ₹0.94)

Segment-wise Performance (FY2026)

  • Textiles & Textile Articles: Revenue ₹9,330 lacs, Segment Profit ₹444 lacs
  • Logistic & Warehousing Services: Revenue ₹604 lacs, Segment Profit ₹307 lacs

Balance Sheet Position (as at March 31, 2026)

  • Total Assets: ₹10,743 lacs (Previous year: ₹10,604 lacs)
  • Property, Plant and Equipment: ₹3,713 lacs (Previous year: ₹3,781 lacs)
  • Inventories: ₹2,617 lacs (Previous year: ₹2,563 lacs)
  • Trade receivables: ₹2,807 lacs (Previous year: ₹2,840 lacs)
  • Equity Share Capital: ₹934 lacs (unchanged)
  • Other Equity: ₹2,431 lacs (Previous year: ₹2,216 lacs)
  • Borrowings (Current): ₹4,669 lacs (Previous year: ₹4,775 lacs)
  • Borrowings (Non-current): ₹432 lacs (Previous year: ₹624 lacs)

Cash Flow Statement (FY2026)

  • Net Cash from Operating Activities: ₹474 lacs
  • Net Cash used in Investing Activities: ₹(175) lacs
  • Net Cash used in Financing Activities: ₹(304) lacs
  • Net decrease in Cash & Cash equivalents: ₹(5) lacs
  • Cash & Cash equivalents at close: ₹7 lacs

Audit Qualification

The auditor issued a qualified opinion regarding unaccounted land compensation claim:

  • The company has claimed additional compensation of ₹614.64 lacs (including amount up to previous year ₹614.64 lacs) for part of factory land acquired
  • Management states this will be accounted for as and when received
  • Had this compensation been accounted for, profit for the year would have been higher by ₹614.64 lacs and other current assets would have increased correspondingly
  • This is a repetitive qualification from previous years

Impact of Audit Qualification (Quantified)

If the qualification were adjusted:

  • Turnover/Total income: ₹10,689.10 lacs (vs reported ₹10,074.46 lacs)
  • Net Profit: ₹829.20 lacs (vs reported ₹214.56 lacs)
  • EPS: ₹8.95 (vs reported ₹2.37)
  • Total Assets: ₹11,357.39 lacs (vs reported ₹10,742.79 lacs)
  • Net Worth: ₹3,979.20 lacs (vs reported ₹3,364.60 lacs)

Joint Venture Operations

1. With Star Cotspin Ltd (from 1.4.2013): Operations temporarily suspended from 16.08.2016 due to sealed premises of job work party. Legal action initiated for missing material.

2. With Star Cotspin Ltd (from 15.03.2022): Joint venture agreement terminated w.e.f. 1st August 2022 due to adverse market conditions.

Labour Code Implementation

The Government of India consolidated 29 labour legislations into four labour codes effective from November 21, 2025. The incremental impact assessed by the Company is NIL. Once Central/State Rules are fully notified, the Company will evaluate any impact on employee benefits measurement.

Borrowings Disclosure

  • Outstanding Qualified Borrowings at start of FY: ₹9.99 crores
  • Outstanding Qualified Borrowings at end of FY: ₹6.56 crores
  • Incremental borrowing during year: -₹3.43 crores (reduction)
  • Highest Credit Rating: IND BB-/Stable and IND A4+ from India Ratings & Research
  • No borrowing through debt securities during the year