Veejay Lakshmi reports net loss for FY26
Veejay Lakshmi Engineering Works Limited reported a net loss of ₹566.96 lakh for FY26 on revenue of ₹8022.75 lakh. The Textile Division drove revenue but also incurred significant losses. Auditors issued an unmodified opinion, and the company recognized a one-time provision for new labour codes.
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Veejay Lakshmi Engineering Works Limited reported a net loss of ₹566.96 lakh for the financial year ended March 31, 2026, compared to a net loss of ₹331.48 lakh in the previous year. Revenue from operations for the year increased to ₹8022.75 lakh from ₹7964.93 lakh in FY25. The company recorded a total comprehensive income of -₹613.23 lakh for the standalone results and -₹592.16 lakh for the consolidated results for the year ended March 31, 2026.
Financial Performance
The standalone financial results for the quarter ended March 31, 2026, show a net loss of ₹34.71 lakh on revenue from operations of ₹2444.57 lakh. For the full year, the company reported a loss before tax of ₹549.14 lakh. The Textile Division contributed ₹6320.24 lakh to the segment revenue, while the Engineering Division contributed ₹1705.42 lakh. The Textile Division reported a segment loss before interest and tax of ₹497.84 lakh for the year.
Auditor's Opinion
M/s. N R D Associates, Chartered Accountants, the statutory auditors, issued an audit report with an unmodified opinion on the standalone and consolidated financial results for the year ended March 31, 2026. The auditors stated that the financial statements give a true and fair view of the company's financial position and results of operations in conformity with the Indian Accounting Standards (Ind AS).
Exceptional Items
The company reported exceptional items amounting to -₹5.54 lakh for the year ended March 31, 2026. This expense relates to the statutory impact of new labour codes, which resulted in a one-time increase in the provision for employee benefits. The provision was recognized immediately in the statement of profit and loss as per the guidance issued by the Institute of Chartered Accountants of India (ICAI) under IndAS 19.
Consolidated Results
The consolidated financial results include the accounts of the company's associate, Veejay Sales and Services Limited. The share of profit of the associate for the year ended March 31, 2026, was ₹20.16 lakh. Consolidated revenue from operations for the year stood at ₹8022.75 lakh, with a net loss of ₹566.96 lakh. The consolidated earnings per share (EPS) for the year was -₹11.18 on a basic and diluted basis.
| Metric | Year Ended March 31, 2026 (₹ in Lakhs) | Year Ended March 31, 2025 (₹ in Lakhs) |
|---|---|---|
| Revenue from Operations | 8022.75 | 7964.93 |
| Total Income | 8445.40 | 8284.92 |
| Total Expenses | 8989.00 | 8615.22 |
| Net Profit/(Loss) for the period | (566.96) | (331.48) |
| Earnings Per Share (Basic) | (11.18) | (6.54) |
Historical Stock Returns for Veejay Lakshmi Engineering Works
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.53% | -4.00% | -4.99% | -30.69% | -36.84% | -25.31% |
What specific cost-cutting measures or strategic shifts does management plan to implement to reverse the widening net losses in the Textile Division?
How will the recent one-time provision for employee benefits under the new labour codes impact the company's operating cost structure going forward?
Are there any anticipated changes in capital expenditure or product pricing strategies to improve margins in the Engineering Division?
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