Company Overview
Soma Textiles & Industries Limited (BSE: 521034, NSE: SOMATEX) conducted its 88th Annual General Meeting on July 31, 2026, and submitted comprehensive financial disclosures for FY 2025-26.
Financial Performance
FY26 demonstrated remarkable transformation with revenue from operations surging 752.51% YoY to ₹8,088.16 lakhs (from ₹948.75 lakhs). The company reported a consolidated net profit of ₹981.84 lakhs and total comprehensive income of ₹983.28 lakhs. Despite reporting a loss before exceptional items and tax of ₹492.05 lakhs, exceptional gains of ₹611.24 lakhs (including foreign exchange gain of ₹337.19 lakhs and profit on sale of fixed assets) contributed to the bottom line. Cash and cash equivalents decreased to ₹58.12 lakh from ₹182.01 lakh year-over-year.
Business Transformation
The company underwent significant strategic shifts, discontinuing textile manufacturing operations following court orders regarding polluting industries and subsequently diversifying into cotton trading. Following a change in management control effective October 2025, the company restructured operations and commenced highway construction business from December 2025, which became its only reportable primary business segment.
Corporate Actions & Governance
The AGM approved audited financial statements, reappointment of Director Shri Shrikant Bhairaveshwar Bhat, and declaration of a 5% final dividend (₹0.50 per equity share) totaling approximately ₹165.17 lakhs. Record date was set for July 17-31, 2026, with payment due by August 14, 2026.
Complete management overhaul occurred in October 2025 with new appointments including Shri Ameet Harjinder Gadhoke as Managing Director and Smt. Teja Ranade Gadhoke as Chairman, replacing previous leadership. Shareholding pattern changed significantly with transfer of 74.98% stake to new acquirers including Roadway Solutions entities.
Related Party Transactions & Associates
Material transactions were approved with Roadway Solutions group entities, involving advances of ₹13,942.57 lakhs for business operations. The company maintains a 40% investment in associate Soma Textile FZC (UAE), accounted using equity method with outstanding loan of ₹3,354.40 lakhs and minimal financial impact.
Regulatory Compliance & Approvals
The company complied with all SEBI Listing Regulations and Companies Act provisions. Financial statements were prepared under Ind AS and approved by the Board on May 30, 2026, with audits conducted by Pipara & Co. LLP and Drolia & Company. All statutory disclosures regarding benami properties, cryptocurrency, and corporate governance were duly made.