Akshar Spintex Ltd. Board Approves Unaudited Standalone Financial Results for Q1 FY27
Akshar Spintex Limited approved its unaudited standalone financial results for the quarter ended June 30, 2026. Total income was ₹3,050.62 lakhs, with a profit after tax of ₹59.80 lakhs, resulting in an EPS of ₹0.01. The company reported no deviation in the utilization of funds from its Rights Issue.
The approval of quarterly results and the detailed financial disclosures are material information for investors. The improvement in profitability compared to the previous year is a positive indicator.
The company reported a profit for the quarter, a significant improvement from a loss in the same quarter last year. The utilization of funds from the rights issue also shows no significant deviations.
Akshar Spintex Limited announced the outcome of its Board of Directors meeting held on Friday, August 7, 2026. The Board considered and approved the Unaudited Standalone Financial Results for the quarter ended June 30, 2026, along with the Limited Review Report from the Auditors.
The financial results for the quarter ended June 30, 2026, were prepared in accordance with Indian Accounting Standards 34 "Interim Financial Reporting" and Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The Board Meeting commenced at 2:45 p.m. and concluded at 3:30 p.m. The company's operations fall under a single segment, "Spinning of Cotton Yarn", making segment reporting not applicable.
In terms of financial performance for the quarter ended June 30, 2026, Akshar Spintex Limited reported a Total Income of ₹3,050.62 lakhs. The Cost of materials consumed was ₹2,442.26 lakhs, and Total Expenses amounted to ₹2,946.51 lakhs. The company recorded a Profit before exceptional items and tax of ₹104.12 lakhs, resulting in a Profit for the period (after tax) of ₹59.80 lakhs. This translates to an Earnings Per Share (Basic and Diluted) of ₹0.01 for the quarter.
Comparatively, for the quarter ended June 30, 2025, the company had reported a Total Income of ₹2,668.90 lakhs and a Profit/(Loss) for the period of (₹123.65) lakhs, with an EPS of (₹0.02).
The company also provided a statement on the deviation or variation for the proceeds of its Rights Issue dated October 7, 2024. The total amount raised was ₹4,874.81 lakhs. The funds were primarily allocated to repaying unsecured loans (₹345.67 lakhs, with ₹320.00 lakhs utilized) and augmenting working capital (₹3,300 lakhs, fully utilized). Corporate expenses related to the issue amounted to ₹1,194.14 lakhs, with ₹1,193.16 lakhs utilized. Estimated issue-related expenses of ₹35.00 lakhs saw ₹16.30 lakhs utilized, with the remaining ₹18.70 lakhs transferred to General Corporate Purpose.
Regarding outstanding defaults on loans and debt securities, the company reported a total outstanding amount of ₹306.03 lakhs for loans and revolving facilities from banks/financial institutions, with no amount of default as of the reporting date. There were no unlisted debt securities outstanding.
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Akshar Spintex Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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