Harish Textile Engineers Ltd — Board Meeting, 25-06-2025: Board Meeting

Harish Textile Engineers Limited has announced a board meeting on 25 June 2025 where it approved the financial results for the quarter and half-year ended 31 March 2025. The company reported a marginal profit of ₹23.55 lakh for the year, reversing a loss of ₹37.26 lakh in the previous year, with total revenue stable around ₹132 Cr. However, working capital remains under pressure with current liabilities of ₹64.65 Cr exceeding current assets of ₹43.25 Cr, resulting in a negative working capital of ₹21.40 Cr. The company faces liquidity challenges and ongoing negotiations with lenders and debenture holders are critical for meeting obligations. Legal disputes include a petition contesting a 2019 slump-sale transfer and notices related to delayed payments under the MSMED Act, with interest liabilities yet to be quantified. The company has also mutually agreed to transfer back agricultural land due to delayed non-agricultural conversion. Despite these hurdles, Harish Textile is pursuing legal recourse and funding strategies to sustain operations and protect shareholder value.