SVP GLOBAL TEXTILES LIMITED — Board Meeting, 30-05-2025: Outcome of Board Meeting

SVP Global Textiles has announced a board meeting approving the financial results for the quarter and half-year. Consolidated revenue fell sharply to Rs. 92.21 Cr from Rs. 301.90 Cr last year, with losses widening to Rs. 979.54 Cr, driven by major write-offs of Rs. 462.57 Cr linked to inventory, receivables, and investments in subsidiaries under insolvency. Standalone sales were nil, with a loss of Rs. 12.34 Cr. The company appointed new auditors for costs, secretarial, and internal audits for FY26. Insolvency resolution is underway for key subsidiaries, with creditor approval of the plan, and finance costs are currently not accounted post-June 2024 due to lender arrangements.