Siddhi Cotspin FY26 net profit falls 25.2% to ₹964.08 lakh
Siddhi Cotspin reported a 25.2% decline in net profit to ₹964.08 lakh for the financial year ended March 31, 2026, while revenue from operations fell 34% to ₹47,814 lakh. The board approved the audited standalone financial results and re-appointed internal, cost, and secretarial auditors for FY 2026-27. The company confirmed full utilization of its IPO proceeds amounting to ₹5,339.52 lakh.
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Siddhi Cotspin Limited reported a 25.2% decline in net profit to ₹964.08 lakh for the financial year ended March 31, 2026, compared to ₹1,288.16 lakh in the previous year. Revenue from operations for the year decreased 34% to ₹47,814 lakh from ₹72,454.45 lakh in FY25. The board approved the standalone audited financial results for the half year and financial year ended March 31, 2026, at its meeting held on May 28, 2026.
The statutory auditors, M/s. ABHL & Associates, issued an audit report with an unmodified opinion on the financial results. For the half year ended March 31, 2026, the company reported a net profit of ₹420.30 lakh on revenue of ₹25,845.01 lakh. Total expenses for the full year stood at ₹46,488.72 lakh, with finance costs decreasing to ₹312.41 lakh from ₹600.27 lakh in the prior year.
The board also noted the complete utilization of Initial Public Offer (IPO) proceeds totaling ₹5,339.52 lakh. The funds raised were fully deployed towards working capital requirements, repayment of borrowings, general corporate purposes, and public issue-related expenses as of March 31, 2026. The company had raised ₹53,39,52,000 through the issue of 49,44,000 shares at a premium of ₹98 per share.
In governance matters, the board approved the re-appointment of M/s. JPMK & Company as Internal Auditor, M/s. Anuj Aggrawal & Co. as Cost Auditor, and M/s. Parshwa Shah & Associates as Secretarial Auditor for the financial year 2026-27. These appointments are effective from April 1, 2026. The company confirmed it is not classified as a Large Corporate under SEBI regulations regarding debt securities.
Financial Performance for FY26
| Particulars | Year Ended March 31, 2026 (₹ in Lakhs) | Year Ended March 31, 2025 (₹ in Lakhs) |
|---|---|---|
| Revenue from Operations | 47,814.00 | 72,454.45 |
| Total Income | 47,827.11 | 72,465.94 |
| Total Expenses | 46,488.72 | 70,715.14 |
| Profit Before Tax | 1,338.39 | 1,750.79 |
| Net Profit | 964.08 | 1,288.16 |
| Basic EPS (₹) | 4.38 | 6.62 |
IPO Proceeds Utilization
| Object of the Issue | Amount Allocated (₹ in Lakhs) | Amount Utilized (₹ in Lakhs) |
|---|---|---|
| Funding working capital requirements | 2,510.00 | 2,510.00 |
| Repayment of borrowings | 896.50 | 896.50 |
| General Corporate Purposes | 1,316.20 | 1,316.20 |
| Public Issue Related Expenses | 616.82 | 616.82 |
| Total | 5,339.52 | 5,339.52 |
Historical Stock Returns for Siddhi Cotspin
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.09% | -10.00% | -12.05% | -17.68% | -67.11% | -67.11% |
What strategic initiatives will the company implement to reverse the 34% decline in revenue for FY27?
With IPO proceeds now fully utilized, how does Siddhi Cotspin plan to fund future working capital needs or expansion?
Will the significant reduction in finance costs be sustained in the coming year given the current interest rate environment?
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