Patspin India Limited announced the unaudited standalone financial results for the quarter and half year ended 30th September 2026, approved by the Board of Directors in their meeting held on 13th November 2026 from 11:19 AM to 1:10 PM.

Financial Performance (Quarter Ended 30.09.2026)

  • Total Income: ₹11.78 lakhs (₹11.15 lakhs in Q1 FY27, ₹13.84 lakhs in Q2 FY26)
  • Revenue from Operations: ₹11.70 lakhs
  • Other Income: ₹0.08 lakhs
  • Net Loss Before Tax: ₹(2.04) lakhs (₹(2.54) lakhs in Q1 FY27, ₹(3.03) lakhs in Q2 FY26)
  • Net Loss After Tax: ₹(2.04) lakhs
  • Basic EPS: ₹(0.66) per share (face value ₹10 each)
  • Diluted EPS: ₹(0.66) per share

Financial Performance (Half Year Ended 30.09.2026)

  • Total Income: ₹22.93 lakhs (₹25.27 lakhs in H1 FY26)
  • Net Loss Before Tax: ₹(4.58) lakhs (₹(5.39) lakhs in H1 FY26)
  • Net Loss After Tax: ₹(4.58) lakhs
  • Basic EPS: ₹(1.48) per share
  • Diluted EPS: ₹(1.48) per share

Balance Sheet Position (as at 30.09.2026)

  • Total Assets: ₹772.60 lakhs (₹791.10 lakhs as at 31.03.2026)
  • Property, Plant and Equipment: ₹582.90 lakhs
  • Equity Share Capital: ₹309.20 lakhs (unchanged)
  • Other Equity: ₹(1,010.10) lakhs (negative)
  • Total Borrowings: ₹812.60 lakhs (₹812.60 lakhs current, ₹145.80 lakhs non-current)
  • Cash and Cash Equivalents: ₹0.60 lakhs

Cash Flow (Half Year Ended 30.09.2026)

  • Net Cash from Operating Activities: ₹1.80 lakhs
  • Net Cash from Investing Activities: ₹(0.30) lakhs
  • Net Cash from Financing Activities: ₹(1.40) lakhs
  • Net Increase in Cash: ₹0.10 lakhs

Operational Context and Challenges

  • The company operates exclusively in the "Yarn Segment" with no other reportable segments.
  • Due to absence of working capital facilities and pending lender approval for restructuring, the company continues job work/contract manufacturing where revenues cover operational costs.
  • The company is pursuing debt restructuring with banks for outstanding Working Capital Demand Loan (WCTL) to restart own manufacturing of cotton yarn.
  • Bankers have initiated recovery measures including notice under Section 13(2) of SARFAESI Act, 2002, possession notice under Section 13(4) of SARFAESI Act, 2002, and petition to Debt Recovery Tribunal (DRT).
  • A TEV study conducted earlier by bankers confirmed viability of the restructuring proposal.
  • The company continues discussions with bankers, with latest meeting on 22.10.2026.

Auditor's Review

  • Statutory Auditors M/s L.U. Krishnan & Co. conducted limited review and provided unmodified opinion.
  • Auditors noted material uncertainty regarding going concern due to net losses (₹204 lakhs quarterly, ₹458 lakhs half-yearly), eroded net worth, and sub-standard loan classification since March 2021.
  • The uncertainty stems from the company's ability to continue as a going concern, though management believes restructuring and improved market conditions could generate better EBITDA and cash profit.