ATVO Enterprises Reports Q1 Results, Reappoints Chairman for New Term
By ScanX News Team
Atvo Enterprises Limited reported a 26.80% decrease in total income to Rs. 80.03 lacs for Q1 ended June 30. Despite lower sales, net profit increased by 58.20% to Rs. 5.57 lacs. The Board approved the reappointment of Mr. Naresh Kumar Gattani as Chairman and Managing Director for a three-year term starting March 29, 2026, subject to shareholder approval. The company operates primarily in the Knitting Job work segment.
*this image is generated using AI for illustrative purposes only.
Atvo Enterprises Limited, formerly known as Vandana Knitwear Limited, has announced its unaudited financial results for the quarter ended June 30, along with key management decisions.
Financial Performance
The company reported a mixed financial performance for the first quarter:
| Particulars (in Rs. Lacs) | Q1 Current | Q1 Previous | Change (%) |
|---|---|---|---|
| Net Sales | 61.83 | 94.20 | -34.40 |
| Other Operating Income | 18.20 | 15.18 | +19.90 |
| Total Income | 80.03 | 109.38 | -26.80 |
| Net Profit After Tax | 5.57 | 3.52 | +58.20 |
| Basic EPS (Rs.) | 0.01 | 0.00 | +420.00 |
Despite a significant decrease in net sales, Atvo Enterprises managed to increase its net profit after tax by 58.20% compared to the same quarter last year. The company's total income from operations decreased by 26.80% year-over-year, from Rs. 109.38 lacs to Rs. 80.03 lacs.
Management Reappointment
The Board of Directors has approved the re-appointment of Mr. Naresh Kumar Gattani as the Chairman and Managing Director of the company. The new term is set for three years, from March 29, 2026, to March 28, 2029, subject to shareholder approval at the upcoming Annual General Meeting.
Mr. Gattani, 58, holds a graduate degree in Commerce and brings over 29 years of management experience to the role. His expertise spans across textiles, real estate, and the hotel industry.
Additional Information
- The company's Board meeting was held on August 2, at its registered office in Bhilwara, Rajasthan.
- Atvo Enterprises operates primarily in the Knitting Job work segment, as per IND AS 108 Operation Segments.
- The trading window for designated persons will open 48 hours after the declaration of these financial results.
The financial results have been reviewed by the Audit Committee and approved by the Board of Directors. Naresh Maheshwari & Co., Chartered Accountants, conducted a limited review of the financial statements and found no material misstatements.
Atvo Enterprises Limited continues to navigate market challenges while focusing on profitability and strategic leadership for future growth.
Historical Stock Returns for Atvo Enterprises
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -3.23% | -0.92% | -3.73% | +63.69% | +293.55% | +6,000.00% |
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