Gangotri Textiles Reports FY26 Audited Results: Loss Narrows to Rs 6.71 Lakhs
Gangotri Textiles Limited reported standalone audited financial results for FY26 with a net loss of Rs 6.71 lakhs, marginally lower than Rs 7.16 lakhs in FY25, and no revenue from operations. Total assets as at March 31, 2026 were Rs 15,20,32,464, with borrowings of Rs 246,18,47,638. The auditors issued an unmodified opinion, and the 37th AGM is scheduled for August 21, 2026.
*this image is generated using AI for illustrative purposes only.
Gangotri Textiles Limited has released its standalone audited financial results for the quarter and financial year ended March 31, 2026, filed with stock exchanges under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were reviewed and approved by the Audit Committee and subsequently taken on record by the Board of Directors at their meeting held on May 15, 2026. The statutory audit was conducted by M/s M. Gangadaran & Co., Chartered Accountants (Firm Registration No. 0881S), who issued an unmodified audit opinion on the standalone financial results.
Financial Performance Overview
The company recorded no revenue from operations for both the quarter ended March 31, 2026, and the full financial year, reflecting its continued non-operational status following the sale of all its assets by lenders during 2015-16. The financial results are presented in Rs lakhs. The following table summarises the key financial metrics:
| Metric: | Q4 FY26 | Q3 FY26 | Q4 FY25 | FY26 | FY25 |
|---|---|---|---|---|---|
| Revenue from Operations: | --- | --- | --- | --- | --- |
| Other Income: | --- | --- | --- | --- | --- |
| Total Income: | --- | --- | --- | --- | --- |
| Depreciation & Amortization: | 0.03 | --- | --- | 0.03 | 0.03 |
| Other Expenses: | 1.08 | 1.24 | 1.15 | 6.68 | 7.13 |
| Total Expenses: | 1.11 | 1.24 | 1.15 | 6.71 | 7.16 |
| Loss Before Tax: | (1.11) | (1.24) | (1.15) | (6.71) | (7.16) |
| Loss for the Period: | (1.11) | (1.24) | (1.15) | (6.71) | (7.16) |
The company's total expenses for FY26 stood at Rs 6.71 lakhs, comprising depreciation of Rs 0.03 lakhs and other expenses of Rs 6.68 lakhs, compared to total expenses of Rs 7.16 lakhs in FY25. The loss from discontinued operations for FY26 was Rs 6.71 lakhs, marginally lower than the Rs 7.16 lakhs recorded in the previous year. The company noted that since all its assets were taken over and sold by lenders, interest has not been provided after September 2015.
Earnings Per Share
The earnings per share figures reflect the company's continued loss position across all categories:
| EPS Metric: | Q4 FY26 | Q3 FY26 | Q4 FY25 | FY26 | FY25 |
|---|---|---|---|---|---|
| EPS – Discontinued Ops (Basic): | (0.0034) | (0.0038) | (0.0035) | (0.0206) | (0.0230) |
| EPS – Discontinued Ops (Diluted): | (0.0034) | (0.0038) | (0.0035) | (0.0206) | (0.0230) |
| EPS – Continuing & Discontinued (Basic): | (0.0034) | (0.0038) | (0.0035) | (0.0206) | (0.0230) |
| EPS – Continuing & Discontinued (Diluted): | (0.0034) | (0.0038) | (0.0035) | (0.0206) | (0.0230) |
Balance Sheet Highlights
The company's total assets as at March 31, 2026, stood at Rs 15,20,32,464, compared to Rs 15,19,34,519 as at March 31, 2025. Key balance sheet items are detailed below:
| Balance Sheet Item: | 31-3-2026 | 31-3-2025 |
|---|---|---|
| Cash & Cash Equivalents: | 50,765 | 50,765 |
| Investments: | 15,00,52,000 | 15,00,52,000 |
| Other Financial Assets: | 9,750 | 9,750 |
| Property, Plant & Equipment: | 2,21,608 | 2,25,237 |
| Other Non-Financial Assets: | 16,98,341 | 15,96,767 |
| Total Assets: | 15,20,32,464 | 15,19,34,519 |
| Borrowings (other than debt securities): | 246,18,47,638 | 246,10,93,056 |
| Other Financial Liabilities: | 5,55,00,000 | 5,55,00,000 |
| Other Non-Financial Liabilities: | 24,49,684 | 24,46,684 |
| Equity Share Capital: | 106,72,73,170 | 106,72,73,170 |
| Other Equity – Reserves & Surplus: | (343,56,48,428) | (343,49,77,191) |
| Total Liabilities & Equity: | 15,20,32,464 | 15,19,34,519 |
The equity share capital remains unchanged at Rs 106,72,73,170, while the accumulated deficit in reserves and surplus widened to Rs (343,56,48,428) from Rs (343,49,77,191) in the prior year. Outstanding borrowings as at March 31, 2026, stood at Rs 240.47 crores.
Shareholding Pattern and Investor Complaints
The public shareholding remained stable at 2,46,31,177 shares, representing 75.52% of total share capital, across all reported periods. Of the promoter and promoter group's shareholding, 59,87,593 shares (75.00% of promoter holding, representing 18.36% of total share capital) remain pledged or encumbered, while 19,95,864 shares (25.00% of promoter holding, representing 6.12% of total share capital) are non-encumbered. There were no investor complaints pending at the beginning of the quarter, none received during the quarter, and none remaining unresolved at the end of the quarter ended March 31, 2026.
Regulatory Compliance and Audit Observations
The Board of Directors declared, pursuant to Regulation 33(3)(d) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that the statutory auditors have issued an audit report with an unmodified opinion on the standalone audited financial results for the quarter and year ended March 31, 2026. The company confirmed that no related party transactions were undertaken during the half-year ended March 31, 2026. The company also confirmed that it does not qualify as a Large Corporate under the SEBI Circular dated November 26, 2018, as it has not been in operation following the sale of its entire assets by lenders during 2015-16. The company operates within a single business segment, namely Textiles. The 37th Annual General Meeting has been scheduled for Friday, August 21, 2026, via Video Conferencing, with book closure from August 15, 2026 to August 21, 2026. No dividend has been recommended for FY26.
With borrowings of Rs 240.47 crores vastly exceeding total assets of Rs 15.20 crores and over a decade of non-operations, what legal or regulatory mechanisms could lenders or regulators use to finally delist or wind up Gangotri Textiles?
Given that 75% of promoter shares remain pledged while the company has been non-operational since 2015-16, what are the potential implications for minority shareholders if lenders decide to invoke these pledges?
How does SEBI's continued listing compliance requirement serve investor interests for shell companies like Gangotri Textiles that have had zero revenue for over a decade, and could regulatory reforms change this?
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