Key Quantitative Figures

Standalone Financials (₹ Lakhs):

  • Q4 FY26 Net Loss: (101.85)
  • FY26 Net Loss: (636.94)
  • Q4 FY25 Net Loss: (201.94)
  • FY25 Net Loss: (996.33)
  • Basic EPS FY26: (0.50)
  • Basic EPS Q4 FY26: (0.08)
  • Employee Cost FY26: 35.87
  • Depreciation FY26: 734.21
  • Finance Cost FY26: (60.23) [Negative indicates reversal/credit]
  • Equity Share Capital: 1,265.00 (Face Value ₹1.00)
  • Other Equity: (7,046.04)

Consolidated Financials (₹ Lakhs):

  • FY26 Net Loss Attributable to Owners: 6,768.51
  • FY25 Net Loss Attributable to Owners: (98,950.85)
  • Basic EPS FY26: 3.61
  • Total Revenue FY26: 508.75
  • Total Comprehensive Income FY26 Attributable to Owners: 6,768.51

Dates of Action

  • Board Meeting Date: 30th May 2026 (3:00 PM to 9:25 PM)
  • Resignation Effective: 31st May 2026 (closure of business hours)
  • Auditor Appointments Effective: 30th May 2026 for FY 2026-27
  • Financial Period: Quarter and Year ended 31st March 2026

Parties Involved

Regulatory Bodies:

  • BSE Limited
  • National Stock Exchange of India Limited
  • SEBI
  • National Company Law Tribunal (NCLT)

Auditors:

  • Statutory Auditors: M/s. Motilal & Associates LLP (FRN: 106584W/W100751)
  • New Cost Auditor: M/s. M. Goyal & Co. (Reg No 000051)
  • New Internal Auditor: M/s. Shweta Jain & Co. LLP (FRN: 127673W/W101149)

Individuals:

  • Resigning Director: Mrs. Prima Denish Parmar (DIN: 10081050) - Independent Director
  • Signing Director: Mr. Gopal Lohia (DIN: 09563931)
  • Auditor Partner: Rishabh Jain (ICAI MRN: 179547)

Subsidiaries Mentioned:

1. Shrivallabh Pittie Enterprises Private Limited

2. Shrivallabh Pittie South West Industries Limited (Under CIRP)

3. Shrivallabh Pittie Industries Limited (Under CIRP)

4. SV Pittie Sohar Textiles LLC (Foreign)

5. SV Pittie Trading (FZC) LLC (Foreign)

Financial and Operational Impact

Corporate Insolvency Impact:

  • NCLT initiated Corporate Insolvency Resolution Process (CIRP) against key subsidiaries:
  • Shri Vallabh Pittie South West Industries Limited (Order dated 10.10.2023)
  • Shri Vallabh Pittie Industries Limited (Order dated 07.03.2024)
  • Creditors voted on Resolution Plan
  • Certain CIRP information remains confidential with Committee of Creditors and NCLT
  • Auditors unable to comment on possible financial impact due to lack of access to confidential CIRP information

Accounting Qualifications:

1. Trade Balances Subject to Confirmation: Trade receivables, payables, and loan receivables amounts subject to third-party confirmations

2. Finance Cost Provision: Company has not provided finance cost for periods after June 30, 2024, as no charge/interest intimation received from lenders

3. Subsidiary Write-off Reversals: Subsidiary under CIRP reversed substantial write-offs of inventory and trade receivables in current period

Capital Structure Impact:

  • No change in paid-up equity share capital (₹1,265.00 lakhs)
  • Other equity negative at (₹7,046.04 lakhs)

Governance Changes

  • Resignation: Mrs. Prima Denish Parmar resigned as Independent Director due to "personal and other professional commitments"
  • Confirmation: No other material reasons for resignation beyond those stated
  • New Appointments:
  • Cost Auditor: M/s. M. Goyal & Co. (28 years experience, 5 partners)
  • Internal Auditor: M/s. Shweta Jain & Co. LLP (20 years experience, diverse service offerings)

Audit Opinion

  • Statutory Auditors issued unmodified audit opinion on annual audited financial results
  • Audit report includes Emphasis of Matter paragraphs regarding:
  • CIRP impact and confidentiality constraints
  • Trade balance confirmation uncertainties
  • Finance cost provisioning approach
  • Write-off reversals in subsidiary financials

Cash Flow Impact

Standalone Cash Flow (₹ Lakhs):

  • Net decrease in cash and cash equivalents: 0.00
  • Closing cash balance: 4.08

Consolidated Cash Flow (₹ Lakhs):

  • Net cash from operating activities: 4,966.10
  • Net cash used in investing activities: (39,741.64)
  • Net cash from financing activities: 43,617.53
  • Net decrease in cash: (1,090.21)
  • Closing cash balance: 476.58

Additional Notes

  • The company has only one business segment: Textiles Business
  • Previous period figures have been regrouped/reclassified where necessary
  • Finance cost for FY26 shown as negative (₹60.23 lakhs) indicating credit/reversal
  • Q4 FY26 figures are balancing figures between audited full year and published unaudited YTD figures