Mahaalaxmi Texpro Limited has re-appointed CA Nilesh Kothari as its Internal Auditor for the financial year 2026-27. The Board of Directors approved the appointment during a meeting held on June 18, 2026, ensuring continued oversight of the company's functions and activities.

The re-appointment follows the provisions of Section 138 of the Companies Act 2013 read with Rule 13 of the Companies (Accounts) Rules, 2014. The Board meeting, which commenced at 3.00 p.m. and concluded at 3.30 p.m., also addressed compliance requirements under Regulation 30 of the Listing Regulations and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.

CA Nilesh Kothari, a Fellow member of the Institute of Chartered Accountants of India, brings over 14 years of experience in accounting, auditing, taxation, and corporate advisory. He is also registered as an Insolvency Professional under the Insolvency and Bankruptcy Code 2016.

Details of Appointment

The disclosure was submitted to the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited as per regulatory norms.

Mahaalaxmi Texpro Limited narrowed its net loss to ₹8.43 lakh for the quarter ended March 31, 2026, compared to a net loss of ₹2,175.19 lakh in the corresponding period of the previous year. The company reported total revenue of ₹6.92 lakh for Q4FY26, a sharp decline from ₹410.98 lakh in Q4FY25. For the full year ended March 31, 2026, the company recorded a net loss of ₹135.54 lakh on total revenue of ₹8.03 lakh.

The Board of Directors approved the audited standalone financial results for the quarter and year ended March 31, 2026, at a meeting held on May 29, 2026. The results were reviewed by the audit committee and are based on the Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013. M/s. ARNA & Associates, Statutory Auditors, issued an audit report with an unmodified opinion on the financial results.

Financial Performance

The company's revenue from operations was nil for the quarter and year ended March 31, 2026, whereas it stood at ₹80.60 lakh and ₹462.21 lakh respectively for the corresponding periods in the previous year. Other income contributed ₹6.92 lakh in Q4FY26 and ₹8.03 lakh in FY26, down from ₹330.38 lakh and ₹331.49 lakh respectively in the prior year.

Total expenses for Q4FY26 were ₹15.35 lakh, significantly lower than the ₹427.47 lakh reported in Q4FY25. For the full year FY26, total expenses amounted to ₹143.58 lakh, compared to ₹1,314.06 lakh in FY25. The reduction in expenses was primarily driven by lower operating and other expenses, which fell to ₹0.70 lakh in Q4FY26 from ₹293.09 lakh in the previous year's quarter.

Key Financial Metrics

The following table summarizes the standalone financial results for Mahaalaxmi Texpro Limited for the quarter and year ended March 31, 2026:

Balance Sheet and Cash Flows

As of March 31, 2026, the company's total assets stood at ₹599.61 lakh, a decrease from ₹928.17 lakh as of March 31, 2025. Total equity was negative at ₹172.41 lakh, compared to negative ₹36.87 lakh in the previous year. Current liabilities were ₹756.73 lakh, while non-current liabilities were ₹15.29 lakh.

The cash flow statement for the year ended March 31, 2026, showed a net decrease in cash and cash equivalents of ₹0.73 lakh. Cash generated from operations was negative at ₹42.91 lakh, while net cash used in investing activities was positive at ₹72.17 lakh. Net cash used in financing activities was ₹29.99 lakh. Cash and cash equivalents at the end of the period were ₹48.47 lakh.

Auditor's Observations

The statutory auditors, M/s. ARNA & Associates, noted that the company incurred cash losses of ₹84.31 lakh for the year 2025-26, compared to ₹276.67 lakh in the previous year. They also highlighted that disputed statutory dues amounting to ₹147.13 lakh were pending before appropriate authorities as of March 31, 2026, while there were no undisputed statutory dues outstanding for more than six months.