AP Tanneries FY26 net loss narrows to ₹14.5 lakh; AGM set for Sep 30
- AP Tanneries reported a net loss of ₹14.50 lakh for FY26, down 47% from ₹27.29 lakh in FY25
- Total income rose 268% to ₹5.52 lakh driven entirely by other income, while revenue remained nil
- The 52nd Annual General Meeting is scheduled for September 30, 2026, with a record date of September 23
- Negative net worth increased to ₹1,299.33 lakh amid continued cash outflows and non-operational status
*this image is generated using AI for illustrative purposes only.
Andhra Pradesh Tanneries Limited (APTL) reported a net loss of ₹14.50 lakh for the financial year ended March 31, 2026. The tannery plant remains non-operational, with losses driven primarily by administrative expenses incurred during the period.
The company is scheduled to hold its 52nd Annual General Meeting on Wednesday, September 30, 2026, at 11:00 am at its registered office in Vizianagaram, Andhra Pradesh. The record date for the meeting has been fixed as September 23, 2026.
Financial Performance
Total income for FY26 stood at ₹5.52 lakh, a significant increase from ₹1.50 lakh in the previous year. This growth was entirely attributable to other income, which rose to ₹5.52 lakh from ₹1.50 lakh in FY25. Revenue from operations remained at nil for both periods.
Total expenses declined to ₹20.02 lakh from ₹28.79 lakh in FY25. The reduction was largely due to the absence of finance costs in the current year, compared to ₹3.75 lakh in the prior year. Employee benefit expenses also fell to ₹2.53 lakh from ₹5.52 lakh.
| Metric | FY26 | FY25 | Change |
|---|---|---|---|
| Total Income | ₹5.52 lakh | ₹1.50 lakh | +268% |
| Total Expenses | ₹20.02 lakh | ₹28.79 lakh | -30.5% |
| Net Loss | ₹14.50 lakh | ₹27.29 lakh | -47% |
What the Numbers Show
The narrowing of the net loss from ₹27.29 lakh to ₹14.50 lakh reflects a reduction in operational overheads rather than revenue generation. With zero revenue from operations, the company's total income of ₹5.52 lakh came exclusively from other income sources, including sundry credit balances written back and miscellaneous receipts. This indicates that the entity is currently sustaining itself through administrative wind-down activities and non-operating gains rather than core business functions.
Balance Sheet Position
As of March 31, 2026, the company reported a negative net worth of ₹1,299.33 lakh, an increase from the negative ₹1,284.83 lakh recorded in the previous year. Total assets decreased to ₹28.17 lakh from ₹32.20 lakh. Cash and cash equivalents fell sharply to ₹1.72 lakh from ₹4.88 lakh, signaling continued cash outflows despite the reduction in expenses.
Non-current liabilities remained substantial at ₹1,103.92 lakh, dominated by borrowings of ₹1,100.38 lakh. Current liabilities were relatively stable at ₹223.58 lakh. The auditor highlighted a material uncertainty related to going concern due to the negative net worth and non-operational status.
Corporate Governance
The Board of Directors comprises Ms. Uma Yelavarthy, Mr. Glen Sylvester Mascarenhas, Mr. Vibheeshana Rao Busurothu, and Mr. Narasimha Reddi Akkineni. Mrs. Uma Yelavarthy retires by rotation and offers herself for re-appointment.
Ms. Binita Patel was appointed as Company Secretary and Compliance Officer effective May 1, 2026. The Secretarial Audit Report noted that the company had not appointed a Company Secretary as mandated under Section 203 of the Companies Act, 2013, until this recent appointment. Trading in the company's equity shares remains suspended on BSE Limited.
What is the Board's strategic plan to resolve the negative net worth and address the auditor's going concern qualification?
How does the recent appointment of a Company Secretary impact the company's compliance status and potential for reinstating equity trading on the BSE?
Are there any concrete proposals or timelines for restarting operations at the non-functional tannery plant, or is a strategic exit/wind-down more likely?
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