Corporate Insolvency Resolution Process (CIRP) Status

The Hon'ble National Company Law Tribunal (NCLT), Chennai Bench, admitted an application under Section 10 of the Insolvency and Bankruptcy Code, 2016 (IBC) against the company vide order dated August 7, 2026. This commenced the Corporate Insolvency Resolution Process (CIRP). Consequently, the powers of the Board of Directors stand suspended. CA G. Gunasekaran (IBBI/IPA-001/IP-P00681/2017-2018/11178) was appointed as the Interim Resolution Professional and subsequently confirmed as Resolution Professional (RP).

The company is under moratorium under Section 14 of IBC until completion of CIRP or until NCLT approves a resolution plan under Section 31 or orders liquidation under Section 33.

Financial Results Approval

The Resolution Professional, at the Management Committee meeting held on November 11, 2026 (4:00 PM to 5:00 PM), considered, approved, and took on record the Unaudited Standalone Financial Results for the quarter ended September 30, 2026.

Financial Performance Highlights (Quarter Ended September 30, 2026)

  • Revenue from Operations: ₹0
  • Other Income: ₹0
  • Total Income: ₹0
  • Total Expenses: ₹5,52,221 (primarily categorized as "Other Expenses")
  • Profit/Loss before Tax: Loss of ₹(5,52,221)
  • Tax Expenses: ₹0
  • Profit/Loss for the period: Loss of ₹(5,52,221)
  • Earnings Per Share (EPS) - Basic and Diluted: (₹0.0096)

Comparative Financial Performance

Quarterly Comparison (Unaudited):

  • September 30, 2026: Loss of ₹(5,52,221); EPS (₹0.0096)
  • June 30, 2026: Loss of ₹(2,39,000) [inferred from half-year data]; EPS (₹0.0073)
  • September 30, 2025: Loss of ₹(1,98,000); EPS (₹0.0060)

Half-Yearly Comparison (Unaudited):

  • September 30, 2026: Loss of ₹(5,52,221); EPS (₹0.0169)
  • September 30, 2025: Loss of ₹(4,36,010); EPS (₹0.0134)

Balance Sheet Position (as of September 30, 2026)

Assets:

  • Total Assets: ₹15,21,20,457
  • Non-Current Assets: ₹15,21,20,457
  • Property, Plant & Equipment: ₹2,21,608
  • Investments: ₹15,00,52,000
  • Other Non-Financial Assets: ₹17,87,365
  • Current Assets: ₹59,484
  • Cash & Cash Equivalents: ₹49,735
  • Other Current Assets: ₹9,750

Equity and Liabilities:

  • Total Equity: Negative ₹(236,89,27,480)
  • Equity Share Capital: ₹1,06,72,73,170
  • Other Equity - Reserves & Surplus: Negative ₹(343,62,00,650)
  • Liabilities: ₹15,21,20,457
  • Non-Current Liabilities: ₹5,78,77,312 (Other Non-Current Liabilities)
  • Current Liabilities: ₹240,76,70,625
  • Trade Payables: ₹5,38,859
  • Provisions: ₹5,55,00,000
  • Current Tax Liabilities: ₹24,46,777
  • Borrowings (Other than Debt Securities): ₹240,46,84,989

Shareholding Pattern (as of September 30, 2026)

  • Total Share Capital: 3,26,01,770 shares
  • Public Shareholding: 2,46,14,177 shares (75.47%)
  • Promoter & Promoter Group Shareholding: 79,87,593 shares (24.53%)
  • Encumbered: 59,87,593 shares (18.36% of total capital)
  • Non-encumbered: 20,12,864 shares (6.12% of total capital)

Additional Information

  • Going Concern: The financial statements have been prepared on a going concern basis. The RP is endeavoring to protect and preserve the company's value and manage operations as a going concern.
  • Investor Complaints: No complaints were received or pending during the quarter.
  • Segment Information: Single segment - Textiles.
  • Related Party Transactions: No related party transactions during the quarter.
  • Auditor: M/s. M. Gangadaran & Co., Statutory Auditors, issued a limited review report stating nothing came to their attention causing belief that the financial results contain material misstatement.
  • Results Publication: The financial results will be published in newspapers and uploaded on the company's website www.gangotritextiles.in.