Simplex Mills FY26 Net Loss Widens to ₹17.20 Lakhs
Simplex Mills Company Limited's audited financial results for FY26 reveal a widened net loss of ₹17.20 lakhs, driven by declining revenue and rising expenses. The balance sheet shows a significant reclassification of assets as held for sale, while equity remains negative. The 28th AGM is set for August 4, 2026.
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Simplex Mills Company Limited's Board of Directors approved the audited financial results for the quarter and financial year ended 31st March, 2026. The results, reviewed by the Audit Committee, were prepared in accordance with Indian Accounting Standards (Ind AS). Khandelwal and Mehta LLP issued an unmodified opinion on the financial results, though they included an Emphasis of Matter regarding loans and advances recoverable from a company with eroded net worth, which management believes are recoverable based on submitted projections.
Financial Performance: Annual Results
The company reported a deterioration in financial performance for the full year. Total income for FY26 stood at ₹75.94 lakhs, a decline from ₹78.56 lakhs in the previous year. Revenue from operations decreased to ₹12.65 lakhs from ₹15.90 lakhs, while other income rose marginally to ₹63.29 lakhs from ₹62.66 lakhs. Total expenses increased to ₹93.14 lakhs from ₹81.73 lakhs, driven by higher finance costs and other expenses. Consequently, the net loss for FY26 widened to ₹17.20 lakhs compared to ₹3.17 lakhs in FY25.
| Metric | FY26 (₹ in Lakhs) | FY25 (₹ in Lakhs) |
|---|---|---|
| Revenue from Operations | 12.65 | 15.90 |
| Other Income | 63.29 | 62.66 |
| Total Income | 75.94 | 78.56 |
| Total Expenses | 93.14 | 81.73 |
| Net Loss | (17.20) | (3.17) |
| Basic & Diluted EPS (₹) | (57.31) | (10.57) |
Quarterly Performance: Q4 FY26
For the quarter ended 31st March, 2026, the company reported nil revenue from operations, compared to ₹3.89 lakhs in Q4 FY25. Total income for the quarter stood at ₹15.59 lakhs, against ₹19.52 lakhs in the corresponding quarter of the previous year. Total expenses rose to ₹26.88 lakhs from ₹21.28 lakhs, resulting in a quarterly net loss of ₹11.29 lakhs, widening from ₹1.76 lakhs in Q4 FY25.
| Metric | Q4 FY26 | Q3 FY26 | Q4 FY25 |
|---|---|---|---|
| Revenue from Operations (₹ Lakhs) | - | 6.35 | 3.89 |
| Total Income (₹ Lakhs) | 15.59 | 21.97 | 19.52 |
| Total Expenses (₹ Lakhs) | 26.88 | 23.78 | 21.28 |
| Net Loss (₹ Lakhs) | (11.29) | (1.81) | (1.76) |
| EPS (₹) | (37.62) | (6.04) | (5.87) |
Balance Sheet and Cash Position
As at 31st March, 2026, total assets stood at ₹684.58 lakhs, compared to ₹709.26 lakhs in the prior year. Non-current assets declined sharply to ₹0.94 lakhs from ₹397.42 lakhs, primarily due to the reclassification of assets amounting to ₹395.64 lakhs as Assets Held for Sale. Total current assets rose to ₹683.64 lakhs from ₹311.84 lakhs. Total equity remained negative at ₹(365.02) lakhs, reflecting accumulated losses. Non-current borrowings increased to ₹300.15 lakhs from ₹275.21 lakhs. Cash and cash equivalents at year-end stood at ₹8.06 lakhs, down from ₹10.20 lakhs at the start of the year.
Annual General Meeting
The Board announced that the 28th Annual General Meeting of the company will be held on Tuesday, 4th August, 2026, through the permissible mode. The company operates in a single reportable segment, Textile.
What is the timeline and expected proceeds from the sale of the ₹395.64 lakhs in assets classified as 'Assets Held for Sale,' and will the proceeds be sufficient to address the negative equity position of ₹365.02 lakhs?
Given the complete cessation of revenue from operations in Q4 FY26 and the widening net loss, what strategic restructuring or revival plan does Simplex Mills' management intend to present at the upcoming August 2026 AGM?
How long can the company sustain operations with only ₹8.06 lakhs in cash and cash equivalents, and what refinancing options are being explored given the increase in non-current borrowings to ₹300.15 lakhs?
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