Vardhman Polytex Q4 FY26 Results: Net Profit Declines to ₹88.26 Lakhs
Vardhman Polytex reported Q4 FY26 net profit of ₹88.26 Lakhs, down from ₹1,492.40 Lakhs YoY. Revenue from operations increased to ₹6,484.66 Lakhs. The company re-appointed its Cost Auditor and issued NCDs worth ₹75 Crores and OCDs worth ₹15 Crores post-year-end. Land monetization approvals are progressing.
The decline in profit and the ongoing financial challenges (eroded net worth) are significant for the company's financial health. However, the re-appointment of the cost auditor and ongoing land monetization efforts suggest some operational continuity and strategic initiatives.
The net profit for the quarter and financial year shows a significant decline compared to the previous year, indicating a negative financial performance.
Vardhman Polytex Limited announced its audited financial results for the quarter and financial year ended March 31, 2026. The company's board of directors, in a meeting held on May 29, 2026, approved these results.
For the fourth quarter of FY26, the company reported a net profit of ₹88.26 Lakhs, a significant decrease compared to ₹1,492.40 Lakhs in the previous year. Revenue from operations for the quarter stood at ₹6,484.66 Lakhs, up from ₹5,059.64 Lakhs in the corresponding quarter of the previous year. Total expenses for the quarter were ₹6,543.08 Lakhs.
The company also re-appointed M/s Ramanath Iyer & Co. as its Cost Accountants for the Financial Year 2026-27. The board meeting commenced at 02:00 PM and concluded at 02:45 PM.
Additionally, the company disclosed that subsequent to the financial year-end, it allotted Secured Rated Listed Redeemable Non-Convertible Debentures aggregating to ₹75 Crores on April 6, 2026, and Optionally Convertible Debentures aggregating to ₹15 Crores on May 18, 2026. The company has also repaid debt owed to Phoenix ARC and NOC. Despite net worth being fully eroded, management considers the company an operating entity and has prepared financial statements on a going concern basis.
The company operates in two segments: Textiles and Real Estate. The Bathinda land monetization opportunity received approval from Bathinda Development Authority for establishing a Residential Colony, subject to other regulatory approvals. The land has been reclassified from fixed assets to inventory and is valued at fair value based on the collector rate. The board had previously approved the sale, transfer, disposal, assignment or otherwise alienation of land at the Ludhiana Unit.
During the quarter, the company issued 2,41,25,000 equity shares upon conversion of warrants, increasing the paid-up share capital to ₹48,30,19,004.
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