Patspin India Ltd — Updates, 30-05-2025: Company Update

Patspin India Limited has announced a board meeting to approve the financial results for the quarter and half-year. The company reported a total comprehensive loss of Rs 271 lakhs for the quarter and Rs 1001 lakhs for the year, with continued net losses before tax of Rs 249 lakhs quarterly and Rs 979 lakhs annually. Despite challenging market conditions and liquidity stress, the company plans to resume cotton yarn manufacturing at its Palakkad plant, aiming to improve financial stability and operational profitability. A new debt restructuring proposal including moratoriums and lower interest rates is under lender review following a viability study. The company’s auditors issued an unmodified opinion but highlighted material uncertainty related to its going concern status due to continued losses and liquidity issues. Outstanding borrowings stood at Rs 56.67 Cr, with defaults totaling Rs 4.93 Cr on loans from banks. The company secured an interest-free advance of Rs 14.58 Cr from promoter directors to manage liquidity during the year. Operationally, the company focused on job work activities as own manufacturing was suspended until now.