Meyer Apparel Limited's Board of Directors convened on May 17, 2026, approving the company's audited standalone financial results for the quarter and year ended March 31, 2026. The results, audited by M/s Khandelwal Jain & Co., Chartered Accountants, were prepared in accordance with Indian Accounting Standards (Ind AS). The statutory auditors issued an unmodified audit opinion on the financial statements. Subsequently, pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company published the audited financial results in the Financial Express (English Edition) and Jansatta (Hindi Edition) on May 19, 2026. The submission was signed by Anjali Tiwari, Company Secretary and Compliance Officer, and the results were approved on behalf of the Board by Gajender Kumar Sharma, CEO & Whole Time Director.

Financial Performance: Quarter and Full Year

Meyer Apparel's financial results reflect a period of operational stress, with revenue from operations declining significantly on a year-on-year basis. The company recorded negative revenue from operations of ₹(0.08) lakhs for the quarter ended March 31, 2026, compared to ₹25.15 lakhs in the corresponding quarter of the prior year. For the full year, revenue from operations stood at ₹8.70 lakhs, a sharp decline from ₹120.25 lakhs in the year ended March 31, 2025.

The following table presents the key financial metrics for the periods under review:

Total expenses for the full year stood at ₹87.63 lakhs, compared to ₹235.15 lakhs in the prior year. No current or deferred tax expense was recorded in either period. The paid-up equity share capital remained unchanged at ₹2,426.67 lakhs (face value of ₹3/- each) across all reported periods.

Balance Sheet Highlights

As at March 31, 2026, the company's total assets stood at ₹70.60 lakhs, compared to ₹65.78 lakhs as at March 31, 2025. Total current assets increased to ₹67.45 lakhs from ₹59.61 lakhs, driven primarily by a rise in other current assets to ₹48.98 lakhs and inventories to ₹12.00 lakhs.

The company's total equity remained deeply negative at ₹(3,356.45) lakhs as at March 31, 2026, compared to ₹(3,278.40) lakhs in the prior year. Current borrowings of ₹67.86 lakhs were recorded as at March 31, 2026, with no corresponding balance in the prior year.

Going Concern and Accumulated Losses

The auditors, M/s Khandelwal Jain & Co., drew attention to a material uncertainty related to going concern. As at March 31, 2026, the company has accumulated losses of ₹6,296.12 lakhs (previous year ₹6,218.07 lakhs), resulting in a negative net worth of ₹3,356.45 lakhs. Current liabilities exceed current assets by ₹3,356.10 lakhs as at March 31, 2026. The auditors noted that these factors raise doubts about the company's ability to continue as a going concern, though the audit report was not qualified on this matter. Management has stated confidence in generating cash flows from continued business operations to fund operating and capital requirements, and the financial statements have accordingly been prepared on a going concern basis.

Cash Flow Summary

For the year ended March 31, 2026, net cash outflow from operating activities was ₹(64.87) lakhs, compared to ₹(0.90) lakhs in the prior year. Net cash inflow from investing activities was ₹1.19 lakhs, while net cash inflow from financing activities was ₹63.73 lakhs, primarily on account of addition of borrowings of ₹67.86 lakhs. The net increase in cash and cash equivalents for the year was ₹0.05 lakhs, with closing cash and cash equivalents at ₹2.05 lakhs as at March 31, 2026.