Latest news about Gokak Textiles
Gokak Textiles
62.98
+1.98(+3.25%)
Company Performance:
View Company Insights1D+3.25%
1M-1.59%
6M-18.55%
1Y-36.38%
5Y+248.92%
More news about Gokak Textiles
12Feb 26
Gokak Textiles Reports Q3FY26 Net Loss of Rs 607.30 Lakhs Amid Operational Challenges
Gokak Textiles reported a net loss of Rs 607.30 lakhs for Q3FY26, showing improvement from Rs 939.91 lakhs loss in the previous year quarter, though revenue declined 19.94% to Rs 1,809.79 lakhs. Nine-month losses widened to Rs 3,210.84 lakhs from Rs 2,335.32 lakhs, with revenue falling 31.62% to Rs 4,920.25 lakhs. The company received Rs 270.54 lakhs as exceptional income from insurance claims related to solar plant damages. With accumulated losses of Rs 26,080.85 lakhs and current liabilities exceeding assets by Rs 5,034.65 lakhs, the company continues operations with financial support from Shapoorji Pallonji And Company Private Limited.
27Jan 26
Gokak Textiles Postpones Knitwear Plant Sale to April 2026 Due to Process Delays
Gokak Textiles Limited has postponed the sale of its knitwear manufacturing plant in Karnataka by three months due to process delays, moving the completion date from January 2026 to April 2026. The 15.65-acre facility in Belagavi, established in 1995, is being sold to M/s V. G. Parekh & Co. for Rs. 19.50 crores. The knitwear unit contributed Rs. 505.47 lakhs in turnover during FY 2024-25, representing 5.17% of total revenue, though it maintained a negative net worth of Rs. 4,115.21 lakhs.
09Sept 25
Gokak Textiles to Sell Knitwear Plant for Rs. 19.50 Crores Amid Declining Performance
Gokak Textiles Limited plans to sell its knitwear manufacturing plant in Belagavi, Karnataka, to V.G. Parekh & Co for Rs. 19.50 Crores. The plant, valued at Rs. 21.49 Crores, contributed 5.17% to the company's total revenue in FY 2024-2025 but had a negative net worth. The sale, expected to complete by January 2026, is subject to shareholder approval via postal ballot. This move is part of Gokak Textiles' strategy to address declining performance in its knitwear business.
05Sept 25
Gokak Textiles Solar Plant Hit by Lightning Strike, 20MW Capacity Affected
Gokak Textiles Limited reported a transformer failure at its Solar Power Plant in Gokak Falls, Karnataka, on May 13, 2025. The incident, caused by heavy lightning and grid supply failure, has reduced the plant's power generation capacity by 50%. One of the two 25 MVA transformers (PTR-2) suffered internal damage, requiring factory repairs. The company has adequate insurance coverage, including 311.31 crores for material damage and 37.84 crores for business interruption. Gokak Textiles has notified insurers, initiated damage assessment, and is working to restore normal operations.
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