Saraswati Saree Depot reported a 23.4% decline in net profit to ₹234.06 million for the financial year ended March 31, 2026, compared to ₹305.76 million in the previous year. Revenue from operations rose 4.6% to ₹6,311.62 million from ₹6,035.90 million in FY25. The company’s board approved the audited financial results during a meeting held on May 29, 2026.

The statutory auditor, Sanjay Vhanbatte & Company, issued a qualified opinion in its report. The qualification states that the company has not maintained stock records giving quantitative details of the goods dealt in during the year. Consequently, the closing inventory was determined based on physical counting carried out and related procedures. This qualification has been continuing for five years, though the management stated that the qualification pertains to the recording process while the stock has been physically verified.

For the quarter ended March 31, 2026, the company reported a net profit of ₹33.35 million, a decrease from ₹70.25 million in the same quarter of the previous year. Revenue for the quarter stood at ₹1,335.33 million, down from ₹1,363.50 million in Q4FY25. Total expenses for the year increased to ₹6,057.51 million from ₹5,671.74 million in the prior year.

The board also approved the appointment of M/s. Ajit M. Joshi and Associates, Chartered Accountants, as the internal auditor for the financial year 2026-27. The appointment is based on the recommendations of the Audit Committee. The company submitted the Statement of Impact of Audit Qualifications to the exchanges on July 2, 2026, following a discrepancy raised regarding an earlier unsigned submission.

Financial Results for FY26

Saraswati Saree Depot Ltd promoter Rajesh Sujandas Dulhani confirmed that there has been no creation, invocation, or release of encumbrance on any shares held by him along with persons acting in concert during the financial year ended March 31, 2026. This declaration provides assurance to shareholders regarding the status of the promoter's holdings against pledged assets, which is a key indicator of financial stability and governance.

The disclosure was submitted to BSE Limited and National Stock Exchange of India Ltd. in compliance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The regulation mandates promoters to report any changes in the encumbrance status of their holdings to ensure transparency in the market.

Filing Details

The confirmation was signed by Rajesh Sujandas Dulhani, a promoter of the company, on April 3, 2026, at Kolhapur. The filing was addressed to the stock exchanges and copied to the Board of Directors of Saraswati Saree Depot Ltd.