Prashant India Limited announced a significant legal development concerning the company. The National Company Law Tribunal (NCLT), Ahmedabad Bench, has dismissed both a waiver application and a connected main petition filed against the company.

Key Details of the NCLT Order

• The NCLT Ahmedabad Bench pronounced its order on August 25, 2025.
• The case numbers involved were CP/47(AHM) 2025 and CP/49(AHM) 2025.
• The waiver application was filed by Procon Financial & Investment Pvt. Ltd. under Section 244(1) of the Companies Act, 2013.
• The connected main petition was filed under Sections 241 and 242 of the Companies Act, 2013.
• Both the waiver application and the main petition were dismissed by the tribunal.

Company's Disclosure

Prashant India Limited, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, informed BSE Limited about this development. The company had previously made a submission regarding this matter on July 10, 2025.

About Prashant India Limited

Prashant India Limited, with the Corporate Identification Number (CIN) L15142GJ1983PLC006574, is a company registered in Gujarat, India. The company's registered office is located at Block 456, Palsana Char Rasta, N. H. 8, Palsana - 394 315, Dist. Surat, Gujarat.

This legal outcome may have implications for the company's operations and stakeholder relationships. Investors and market participants are advised to consider this information in their assessment of Prashant India Limited.

As always, stakeholders should conduct their own due diligence and consult financial advisors before making investment decisions based on this news.

Prashant India Ltd , a textile and wind farm operator, has reported its financial results for the first quarter, showing a reduction in net loss and an increase in revenue.

Financial Performance

The company reported a net loss of Rs 6.81 lakh for the quarter, compared to a loss of Rs 10.87 lakh in the same quarter of the previous year. This represents a significant improvement in the company's bottom line, with the loss narrowing by 37.35% year-over-year.

Total income from operations increased to Rs 7.00 lakh from Rs 5.32 lakh in the corresponding quarter last year, marking a growth of 31.58%. This rise in revenue indicates a positive trend in the company's operational performance.

Segment-wise Performance

Prashant India Ltd operates in two primary segments: textile and wind farm. The textile segment generated revenue of Rs 5.12 lakh, while the wind farm segment contributed Rs 0.86 lakh to the total income.

Expenses and Profitability

Total expenses for the quarter stood at Rs 13.81 lakh, with employee benefit expenses at Rs 5.43 lakh and other expenditure at Rs 6.60 lakh. The company's efforts to manage costs are evident, as the total expenses decreased compared to the previous year's figure of Rs 16.19 lakh for the same quarter.

Financial Position

Prashant India Ltd maintained cash and cash equivalents of Rs 106.20 lakh, showing a slight increase from Rs 102.60 lakh at the end of the previous quarter. The company's short-term borrowings remained stable at Rs 3,460.59 lakh.

Earnings Per Share

The basic and diluted earnings per share (EPS) for the quarter stood at negative Rs 0.16, an improvement from negative Rs 0.26 in the same quarter of the previous year.

Management Approval

The Board of Directors of Prashant India Ltd approved these unaudited standalone financial results. The meeting commenced at 4:00 p.m. and concluded at 5:30 p.m.

Auditor's Review

M/s Ashish Bhoola & Co., the statutory auditors of the company, conducted a limited review of the financial results. Based on their review, they stated that nothing has come to their attention that causes them to believe that the financial results do not present a true and fair view in accordance with applicable accounting standards and other recognized accounting practices and policies.

While Prashant India Ltd continues to face challenges, the narrowing of losses and increase in revenue suggest that the company's efforts to improve its financial performance are showing some positive results. Investors and stakeholders will be watching closely to see if this trend continues in the coming quarters.