Saraswati Saree Depot reported audited financial results for the year ended March 31, 2026, recording a revenue of ₹6,035.90 million. The company posted a net profit of ₹234.06 million for the fiscal year, a decline from the ₹305.76 million reported in the previous year. For the quarter ended March 31, 2026, the company achieved a revenue of ₹1,352.65 million and a net profit of ₹33.35 million.

The board of directors approved the audited financial results along with the audit report of the statutory auditors in accordance with Indian Accounting Standards (Ind AS). Additionally, the board appointed M/s. Ajit M. Joshi and Associates, Chartered Accountants, as the internal auditor for the financial year 2026-27 based on the recommendations of the Audit Committee.

Financial Performance

The company's total expenses for the year ended March 31, 2026, stood at ₹5,671.74 million, compared to ₹5,485.54 million in the prior year. Profit before tax for the year was ₹311.96 million, down from ₹408.21 million in FY25. The basic earnings per share for the year were recorded at ₹1.77.

The statutory auditors, Sanjay Vhanbatte & Company, issued a qualified opinion in their report. The qualification noted that the company has not maintained stock records giving quantitative details of the goods dealt in during the year, with closing inventory taken based on physical counting carried out and related procedures.

Key Financial Figures

Board Decisions

During the meeting held on May 29, 2026, the board approved the appointment of M/s. Ajit M. Joshi and Associates as the internal auditor. The firm, holding FRN 100228W, will conduct the internal audit for the company for FY 2026-27. The company also submitted a signed Statement of Impact on Audit Qualifications to the exchanges following a discrepancy raised regarding an unsigned submission.

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