Texel Industries Limited reported a profit after tax of ₹52.99 crore for the financial year ended March 31, 2026 (FY26), a decrease from ₹45.61 crore in the previous year. The company recorded a loss of ₹8.54 crore for the quarter ended March 31, 2026 (Q4FY26), compared to a profit of ₹38.27 crore in the same period last year. Revenue from operations for FY26 stood at ₹990.82 crore, down from ₹1,157.08 crore in FY25.

The Board of Directors approved the audited standalone and consolidated financial results at a meeting held on May 29, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board also re-appointed M/s. Sweta Patel & Associates as the internal auditor of the company. Statutory Auditors M/s Sunil Poddar & Co. issued an unmodified opinion on the results.

Financial Performance

The company's total income for FY26 was ₹1,009.58 crore, a decline from ₹1,211.74 crore in the previous year. Total expenses for the year amounted to ₹978.02 crore, compared to ₹1,164.51 crore in FY25. For Q4FY26, total income was ₹251.91 crore against total expenses of ₹280.30 crore, resulting in a loss before tax of ₹28.38 crore.

Auditor's Emphasis

The auditors drew attention to Note 34 regarding other expenses, which includes a write-off of unreconciled GST Input Tax credit from earlier periods amounting to ₹2.73 crore. Additionally, the auditors highlighted investments and unsecured loans granted to Texel Industries (Africa) Limited, a wholly owned subsidiary whose net worth has been fully eroded as of the balance sheet date.

Segment Performance

The company operates primarily in two segments: Technical Textile and Land, Building & Property Development. For FY26, the Technical Textile segment reported revenue of ₹942.82 crore, while the Land, Building & Property Development segment reported revenue of ₹47.99 crore.

Texel Industries Limited has announced the conversion of 4,36,437 warrants into equity shares by its promoter group members through preferential allotment. The conversion was disclosed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, with Managing Director Shailesh Ramniklal Mehta filing the disclosure on behalf of all promoter and promoter group members.

Warrant Conversion Details

The conversion involved three key promoter group members who exercised their warrants in April 2024:

Impact on Shareholding Structure

The warrant conversion has resulted in a significant change in the promoter group's shareholding pattern. The total promoter and promoter group holding increased from 25.50% to 27.87% of the expanded share capital.

Key Promoter Holdings Post-Conversion

Following the warrant conversion, the major promoter group members hold the following stakes:

• Shailesh Ramniklal Mehta: 9,58,232 shares (6.97%)
• Krishnakant Gulabchand Vakharia: 4,43,227 shares (3.23%)
• Bhupendra Ramniklal Mehta: 4,31,910 shares (3.14%)
• Avani Shailesh Mehta: 4,26,059 shares (3.10%)
• Avishi Anuj Sharedalal: 1,33,721 shares (0.97%)

Outstanding Warrants

Despite the conversion, Avani Shailesh Mehta retains 3,47,875 outstanding warrants, representing 2.47% of the total diluted share capital. The total diluted share capital of the company stands at ₹14,09,13,030, consisting of 1,40,91,303 equity shares.

Regulatory Compliance

The conversion was executed through preferential allotment in accordance with SEBI (ICDR) Regulations. The disclosure was filed with BSE Limited, where Texel Industries shares are listed under scrip code 526638. The company maintains its registered office at Prime Industrial & Logistics Hub, Hariyala, Kheda, Gujarat, and operates in the industrial sector with multiple ISO certifications including ISO-9001:2015, ISO-14001:2015, and ISO-45001:2018.