Garware Synthetics revises FY26 cash flow statement
Garware Synthetics Limited revised its audited standalone financial results for FY26 to correct a typographical error in the cash flow statement, adjusting proceeds from non-current borrowings to ₹9.51 lakh. The company returned to profitability with a net profit of ₹36.22 lakh for the year, despite a decline in revenue to ₹1033.92 lakh.
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Garware Synthetics Limited has revised its audited standalone financial results for the financial year ended March 31, 2026, to correct a typographical error in the cash flow statement. The company identified a clerical error under the heading "Cash Flow from Financing Activities" where proceeds from non-current borrowings were incorrectly reported as (5.93) instead of 9.51. The correction was submitted to the exchange on June 01, 2026.
The company reported a net profit of ₹36.22 lakh for FY26, a significant turnaround from the net loss of ₹1.30 lakh in the previous year. Revenue from operations declined to ₹1033.92 lakh from ₹1072.99 lakh in FY25. For the quarter ended March 31, 2026, the company reported a net loss of ₹9.41 lakh, while revenue from operations stood at ₹240.87 lakh.
Total expenses for the year decreased to ₹993.84 lakh from ₹1122.76 lakh in the prior year. The company reported a profit before tax of ₹41.62 lakh for FY26, compared to ₹6.76 lakh in the previous year. Basic earnings per share (EPS) for the year increased to ₹0.72 from ₹0.02 in FY25.
The statement of assets and liabilities as of March 31, 2026, showed total assets at ₹1389.47 lakh, down from ₹1427.33 lakh in the previous year. Cash and cash equivalents decreased to ₹3.26 lakh from ₹10.32 lakh at the end of FY25. The company’s equity share capital remained unchanged at ₹580.89 lakh.
Financial Results for FY26
| Particulars | FY26 (₹ in Lakhs) | FY25 (₹ in Lakhs) |
|---|---|---|
| Revenue from operations | 1033.92 | 1072.99 |
| Total Revenue | 1035.46 | 1101.78 |
| Total Expenses | 993.84 | 1122.76 |
| Profit before tax | 41.62 | 6.76 |
| Net Profit | 36.22 | 1.30 |
| Basic EPS | 0.72 | 0.02 |
Quarterly Performance Comparison
| Particulars | Q4 FY26 (₹ in Lakhs) | Q4 FY25 (₹ in Lakhs) |
|---|---|---|
| Revenue from operations | 240.87 | 274.55 |
| Total Revenue | 241.39 | 301.67 |
| Total Expenses | 251.00 | 292.03 |
| Net Profit / (Loss) | (9.41) | 0.79 |
| Basic EPS | (0.16) | 0.01 |
Historical Stock Returns for Garware Synthetics
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.89% | -5.00% | -4.31% | +0.47% | -37.11% | +27.52% |
How will the significant decline in cash and cash equivalents impact the company's ability to fund operations and manage working capital in FY27?
What strategic initiatives will the company implement to reverse the trend of declining revenue from operations observed over the past year?
Is the reduction in total expenses sustainable, or were there one-time cost-cutting measures that contributed to the profitability turnaround?
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