Nature of Event

Board of Directors of Patspin India Limited held a meeting on August 10, 2026, and approved the unaudited standalone financial results for the quarter ended June 30, 2026, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting also addressed matters related to the 35th Annual General Meeting (AGM).

Financial Results (Standalone, Unaudited for Q1 June 2026)

  • Revenue from operations: ₹1,101 lakh
  • Other income: ₹14 lakh
  • Total revenue: ₹1,115 lakh
  • Expenses:
  • Cost of materials consumed: ₹39 lakh
  • Processing charges: ₹6 lakh
  • Power charges: ₹462 lakh
  • Employee benefits expense: ₹459 lakh
  • Finance cost: ₹175 lakh
  • Depreciation and amortization expense: ₹71 lakh
  • Other expenses: ₹157 lakh
  • Total expenses: ₹1,369 lakh
  • Loss before tax: ₹(254) lakh
  • Net loss after tax: ₹(254) lakh
  • Earnings per share (EPS): Basic (₹0.82), Diluted (₹0.77)
  • Paid-up equity share capital: ₹3,092 lakh (face value ₹10 each)
  • Other equity: ₹(12,700) lakh (excluding revaluation reserve)

Comparative figures:

  • For quarter ended March 31, 2026 (audited): Net loss ₹(280) lakh, revenue ₹1,083 lakh
  • For quarter ended June 30, 2025 (unaudited): Net loss ₹(236) lakh, revenue ₹1,143 lakh
  • For year ended March 31, 2026 (audited): Net loss ₹(1,140) lakh, revenue ₹4,866 lakh

Auditor's Review

Statutory auditors M/s L.U. Krishnan & Co. issued a limited review report, highlighting:

  • Net loss of ₹253.81 lakh and cash loss of ₹182.58 lakh for the quarter ended June 30, 2026.
  • Net worth is eroded, and accounts with lenders were classified as sub-standard as of March 31, 2021, due to irregularity in debt servicing.
  • Material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern.
  • Management is pursuing debt restructuring with lenders, supported by a techno-economic viability (TEV) study that confirmed the proposal's viability.

Restructuring Efforts

  • The company has submitted a resolution plan to lenders for restructuring outstanding debts (Working Capital Demand Loan - WCTL) with a moratorium for interest and WCTL installment payments, and reduction in interest rate to Bank MCLR level.
  • Bankers have issued notices under Section 13(2) and 13(4) of the SARFAESI Act, 2002, and filed a petition with the Debt Recovery Tribunal (DRT).
  • The company is in discussions with bankers and is hopeful of an amicable solution to restart own manufacturing operations, which could generate better EBITDA and cash profit.

AGM and Corporate Actions

  • 35th AGM date: September 28, 2026, at 10:00 AM IST through Video Conferencing (VC) / Other Audio Visual Means (OAVM).
  • Cut-off date for e-voting: September 21, 2026, to determine shareholder eligibility.
  • e-Voting service provider: M/s Central Depository Services Limited (CDSL).
  • Book closure: From September 23, 2026, to September 28, 2026 (both days inclusive) for AGM purposes.
  • Scrutinizer: Shri. M R L Narasimha, Practicing Company Secretary (FCS Membership No. 2851, CP No. 799), or failing him, Shri. Abhilash N A, Practicing Company Secretary (FCS Membership No. 10876, CP No. 14524).

Other Details

  • Board meeting commenced at 12:17 PM and concluded at 3:36 PM on August 10, 2026.
  • The document was signed by Veena Vishwanath Bhandary, Company Secretary.
  • The company is engaged in the "Yarn Segment" with no separate reportable segments per Ind AS 108.
  • Exceptional item for the year ended March 31, 2026, was ₹104 lakh, representing incremental gratuity liability due to actuarial valuation under Ind AS 19 and new Labour Codes.