Board Meeting Details
The Board of Directors meeting was held on 30th May 2026 from 04:00 PM to 05:20 PM at the company's Head Office at Balkrishna Krupa, 2nd Floor, 45/49, Babu Genu Road, Princess Street, Mumbai-400002.
Key Decisions and Approvals
1. Financial Results Approval
The Board approved the Audited Standalone Financial Results for the quarter and year ended 31st March 2026, including:
- Statement of Assets and Liabilities as at 31st March 2026
- Cash Flow Statement for the year ended 31st March 2026
- The results were recommended by the Audit Committee
2. Auditor's Report Consideration
The Board considered the Auditor's Report of the Audited Standalone Financial Results for the quarter and year ended 31st March 2026.
3. Regulatory Declaration
The Board made a declaration under SEBI Circular No. CIR/CFD/CMD/56/2016 dated May 27, 2016 regarding the Statutory Auditor's Audit Report with unmodified opinion for financial results for year ended 31st March 2026.
4. Internal Auditor Re-appointment
The Board approved the re-appointment of Mr. Sanjay Sarju Mishra as Internal Auditor for FY 2026-2027. Mr. Mishra is a B.Com from Allahabad University with over 29 years of experience in accounts department of textile industry.
5. Cost Auditor Re-appointment
The Board approved the re-appointment of M/s V.J. Talati & Co. Cost Accountants, Mumbai as Cost Auditors for FY 2026-2027. The firm has extensive experience in cost auditing across various industries including textiles.
Financial Results Summary (Standalone)
Year Ended 31st March 2026 (Audited)
- Revenue from operations: ₹4,788 lakhs
- Other income: ₹18 lakhs
- Total Income: ₹4,806 lakhs
- Total Expenses: ₹4,774 lakhs
- Profit before tax: ₹32 lakhs
- Tax expense: ₹16 lakhs (Current tax: ₹63 lakhs, Deferred tax: ₹-47 lakhs)
- Profit for the period: ₹16 lakhs
- Other Comprehensive Income: ₹24 lakhs
- Total Comprehensive Income: ₹40 lakhs
- Paid-up Equity Share Capital: ₹1,134 lakhs (Face Value of ₹10 per share)
- Earnings per equity share (Basic & Diluted): ₹0.03
Quarter Ended 31st March 2026 (Audited)
- Revenue from operations: ₹832 lakhs
- Other income: ₹14 lakhs
- Total Income: ₹846 lakhs
- Total Expenses: ₹837 lakhs
- Profit before tax: ₹9 lakhs
- Tax expense: ₹-6 lakhs (Current tax: ₹-16 lakhs, Deferred tax: ₹10 lakhs)
- Profit for the period: ₹15 lakhs
- Earnings per equity share (Basic & Diluted): ₹0.10
Comparative Figures (Year Ended 31st March 2025)
- Revenue from operations: ₹1,072 lakhs
- Profit before tax: ₹-12 lakhs
- Profit for the period: ₹-12 lakhs
- Earnings per equity share: ₹-0.12
Segment Information
The company operates in two reportable segments: Domestic and International
Year Ended 31st March 2026
- Domestic Segment Revenue: ₹4,788 lakhs
- Domestic Segment Results: ₹317 lakhs
- International Segment Revenue: ₹0 lakhs
- Total Segment Results: ₹317 lakhs
- Finance cost: ₹285 lakhs
- Total Profit before Tax: ₹32 lakhs
Quarter Ended 31st March 2026
- Domestic Segment Revenue: ₹832 lakhs
- Domestic Segment Results: ₹62 lakhs
- Finance cost: ₹86 lakhs
- Total Profit before Tax: ₹-24 lakhs
Balance Sheet Position (as at 31st March 2026)
Assets
- Total Assets: ₹6,883 lakhs
- Non-Current Assets: ₹1,225 lakhs
- Property, Plant and Equipment: ₹1,042 lakhs
- Deposits: ₹23 lakhs
- Deferred Tax Assets: ₹160 lakhs
- Current Assets: ₹5,658 lakhs
- Inventories: ₹839 lakhs
- Trade Receivables: ₹3,417 lakhs
- Cash and Cash Equivalents: ₹85 lakhs
- Other Bank Balance: ₹1 lakh
- Other Financial Assets: ₹1,039 lakhs
- Other Current Assets: ₹277 lakhs
Equity and Liabilities
- Total Equity: ₹3,031 lakhs
- Share Capital: ₹1,134 lakhs
- Other Equity: ₹1,897 lakhs
- Non-Current Liabilities: ₹604 lakhs
- Borrowings: ₹544 lakhs
- Provisions: ₹60 lakhs
- Current Liabilities: ₹3,248 lakhs
- Borrowings: ₹1,597 lakhs
- Trade Payables: ₹1,164 lakhs
- Micro and Small enterprises: ₹29 lakhs
- Other creditors: ₹1,135 lakhs
- Other Current Liabilities: ₹450 lakhs
- Provisions: ₹37 lakhs
Cash Flow Statement (Year Ended 31st March 2026)
- Net Cash from Operating Activities: ₹323.92 lakhs
- Net Cash used in Investing Activities: ₹-3.32 lakhs
- Net Cash used in Financing Activities: ₹-288.31 lakhs
- Net Increase in Cash and Cash Equivalents: ₹32.29 lakhs
- Opening Cash Balance: ₹54.23 lakhs
- Closing Cash Balance: ₹86.52 lakhs
Auditor's Report Emphasis Matters
The Statutory Auditors, S.M. Gupta & Co., issued an unmodified (unqualified) opinion but emphasized:
- The company incurred expenses of ₹169.01 lakhs during the year on which TDS of ₹20.84 lakhs has not been paid
- The company has not paid Provident Fund dues of ₹10.33 lakhs and Profession Tax dues of ₹2.00 lakhs during the year