Binny Limited has announced its unaudited financial results for the first quarter of FY25, reporting a net profit of ₹425.41 lakhs for the quarter ended June 30, 2024. The results were reviewed by the audit committee and approved by the board of directors at their meeting held on February 17, 2026.

Financial Performance Overview

The company's financial performance for Q1 FY25 showed mixed results compared to the previous year. While the company maintained profitability, there was a decline in net profit compared to the same quarter last year.

Revenue Recognition and Business Segments

The revenue from operations of ₹1,947.10 lakhs was primarily recognized under the Second Amended and Reinstated Joint Development Agreement dated August 6, 2025. According to the company's disclosure, it operates in only one business segment - the real estate business, in accordance with Ind AS 108 on Operating Segments.

The settlement under the Joint Development Agreement was determined through a Special Committee appointed by the board, headed by Hon'ble Retired Justice Bhaskar. The committee appointed two independent valuers who conducted a comprehensive valuation exercise and bifurcated the settlement into two phases:

• Phase I: Up to 53.18 lakh sq. ft. of saleable area settled through lump sum payment
• Phase II: Balance saleable area from total contemplated 120 lakh sq. ft. developed under area sharing model

Expense Management

Total expenses for the quarter were ₹604.61 lakhs, significantly lower than ₹1,933.85 lakhs in Q1 FY24. The major expense components included:

Corporate Governance Updates

The board of directors approved the resignation of Mr. Sudhir Anand as Company Secretary and Compliance Officer of the company, effective from January 5, 2026. The company maintains its paid-up equity share capital at ₹1,115.97 lakhs with a face value of ₹5 per share.

Auditor's Qualified Opinion

The independent auditor's review report contained several qualifications, including concerns about the recoverability of ₹2,918.05 lakhs advanced to RRB Energy Limited and issues related to unregistered land parcels worth ₹26,765.00 lakhs. The auditors also raised questions about revenue recognition compliance with Indian Accounting Standards in certain transactions.

Despite these qualifications, the company's management expressed confidence in the recoverability of outstanding amounts and compliance with accounting standards. The financial results demonstrate the company's continued focus on its real estate operations while managing various legacy issues.

Binny mills Limited has announced its unaudited financial results for the quarter ended 31st December 2025, revealing a widening net loss despite modest revenue growth. The Chennai-based textile company reported challenging financial performance with continued operational difficulties.

Financial Performance Overview

The company's financial metrics for Q3FY26 showed mixed results with revenue growth offset by increased losses:

Expenditure Analysis

The company's expenditure structure remained challenging with finance costs being the primary burden. Finance costs remained constant at ₹316.60 lakhs for the quarter, unchanged from the previous year. Purchase of stock-in-trade increased significantly to ₹91.34 lakhs from ₹49.14 lakhs in Q3FY25, representing an 85.94% increase. Other expenses decreased to ₹45.78 lakhs from ₹58.82 lakhs year-on-year, while employee benefit expenses dropped to ₹8.90 lakhs from ₹14.50 lakhs.

Nine-Month Performance

For the nine-month period ended 31st December 2025, Binny Mills reported improved performance compared to the previous year:

Key Financial Indicators

The company's earnings per share (EPS) for Q3FY26 stood at ₹(10.58) compared to ₹(9.78) in the corresponding quarter of the previous year. The paid-up equity share capital remained stable at ₹258.32 lakhs with a face value of ₹10 per share. Total comprehensive loss for the quarter was ₹273.40 lakhs compared to ₹252.54 lakhs in Q3FY25.

Balance Sheet Position

As of 31st December 2025, the company's total assets stood at ₹17,935.11 lakhs compared to ₹17,789.91 lakhs as of 31st March 2025. The company reported negative equity of ₹23,696.46 lakhs, reflecting accumulated losses over time. Investment property constituted the largest asset component at ₹15,906.73 lakhs.

Regulatory Compliance

The Board of Directors approved these unaudited financial results at their meeting held on 12th February 2026. The results were prepared in compliance with Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013. The financial statements were subject to a limited review by M/s. Ramesh & Ramachandran, Chartered Accountants, who issued an unqualified review report.