Amit Spinning Industries Limited — Results, 26-05-2025: Reply to Clarification- Financial results

Girnar Spintex Industries Limited has announced a board meeting on August 14, 2024, approving the financial results for the quarter and half-year ended June 30, 2024. Revenue from operations declined to ₹20.01 Cr from ₹23.90 Cr a year ago. Total expenses stood at ₹20.77 Cr, slightly lower sequentially but above last year’s quarter. The company posted a loss before tax and exceptional items of ₹0.75 Cr, improving from a loss of ₹1.43 Cr last year but down from a ₹0.90 Cr profit in the preceding quarter. No tax expenses were recorded. Total comprehensive loss matched the PBT at ₹0.75 Cr, with EPS at -₹2.75.

On the balance sheet, non-current assets dipped marginally to ₹78.26 Cr, while current assets fell sharply to ₹11.63 Cr. Equity remained steady at ₹38.53 Cr. Borrowings edged up to ₹42.41 Cr. Notably, trade receivables reduced significantly to ₹1.95 Cr from ₹3.65 Cr in the prior year, signaling better cash collections. Cash and equivalents remained minimal at ₹0.02 Cr.

The board also reappointed the statutory auditors for FY 2024-25. The quarter reflects persistent cost pressures and weak operating performance, though losses have narrowed compared to last year. Market participants should monitor margin trends and working capital efficiency going forward.