Gokak Textiles Ltd (532957)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Gokak Textiles' revenue was ₹25.4 Cr (+52.3% year on year, -0.4% on the previous quarter), and net profit ₹-4.4 Cr (a smaller loss than a year earlier); the operating margin was 25.4%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹25.4 | +52.3% | -0.4% |
| Operating profit | ₹6.4 | +570.8% | -14.6% |
| Net profit | ₹-4.4 | loss narrowed | loss narrowed |
| EPS (₹) | -6.48 | loss narrowed | loss narrowed |
| Operating margin | 25.4% | — | — |
📢 Recent Corporate Announcements
Gokak Textiles has officially closed its Garment Division (Knitwear Unit) at Marihal Village, Belagavi, effective October 06, 2026, following deemed approval from the Karnataka Labour Department under Section 25-O of the Industrial Disputes Act. In FY26, this unit contributed ₹4.23 Cr (9.76% of total revenue) but carried a negative net worth of ₹(41.93) Cr. The company previously agreed to sell the unit's 15.65-acre land, building, and machinery to M/s V. G. Parekh & Co. for ₹19.50 Cr, which equals 50% of the company's current ₹39 Cr market cap. Full and final settlement of all dues and statutory closure compensation will be paid to terminated workers.
- Garment Division at Marihal Village officially closed effective October 06, 2026, with worker services terminated.
- Sale agreement for the unit's land (15.65 acres), building, and machinery agreed at ₹19.50 Cr with M/s V. G. Parekh & Co.
- Knitwear unit contributed revenue of ₹422.73 lakhs (9.76% of FY26 revenue) and negative net worth of ₹(4,192.55) lakhs.
- Closure permission deemed granted as the State Government did not issue an order within the statutory 60-day period.
Gokak Textiles Limited has submitted its Annual Report for FY 2025-2026 along with the notice convening its 20th Annual General Meeting (AGM) scheduled for September 24, 2026, via Video Conferencing. The cut-off date for e-voting entitlement is September 17, 2026, with remote e-voting open from September 21 to September 23, 2026. Consolidated statements reflect continued financial stress, with a total comprehensive loss of ₹35.89 cr (₹3,589.05 lakhs) for FY26 compared to a loss of ₹43.88 cr in FY25, and accumulated negative other equity of ₹252.66 cr (₹25,265.92 lakhs).
- 20th AGM scheduled for Thursday, September 24, 2026 at 2:30 PM IST via VC/OAVM
- Cut-off date for e-voting set as September 17, 2026
- Remote e-voting window active from September 21, 2026 (9:00 AM) to September 23, 2026 (5:00 PM)
- Consolidated total comprehensive loss for FY26 stood at ₹35.89 cr (₹3,589.05 lakhs)
- Cost auditor remuneration for FY 2026-27 proposed at ₹1.65 lakhs plus taxes
Gokak Textiles has issued the notice and Annual Report for its 20th Annual General Meeting scheduled for September 24, 2026, via Video Conferencing. Key agenda items include the adoption of FY2025-26 audited financial statements, reappointment of retiring director Mr. Vinod Bhandawat, and ratification of ₹1.65 lakhs remuneration for the cost auditor. The remote e-voting window runs from September 21 to September 23, 2026, with a cut-off date of September 17, 2026. This is a routine statutory annual compliance filing.
- 20th Annual General Meeting scheduled for September 24, 2026, at 2:30 PM IST via VC/OAVM
- Remote e-voting window opens September 21, 2026, and closes September 23, 2026
- Record/Cut-off date set as September 17, 2026, for voting eligibility
- Special business includes ratification of ₹1.65 lakhs cost auditor remuneration for FY27
Gokak Textiles has received Board approval for the permanent closure and sale of its loss-making Knitwear Unit in Belagavi, Karnataka, for a consideration of Rs 19.50 Crores. The unit, which contributed 9.76% to FY26 revenue (Rs 4.22 Cr), had a significantly negative net worth of Rs 41.92 Cr. The sale to M/s V. G. Parekh & Co. is now expected to be completed by October 2026, following previous delays from the original January 2026 timeline. This divestment is critical for the company, which currently carries Rs 288 Cr in debt and a negative total net worth.
- Sale consideration finalized at Rs 19.50 Crores, representing approximately 51.3% of the company's current market capitalization.
- Knitwear unit contributed Rs 4.22 Crores (9.76%) to total FY26 revenue.
- Unit net worth was negative Rs 41.92 Crores as of March 31, 2026, weighing down the consolidated balance sheet.
- Sale includes 15.65 acres of freehold land, buildings, and remaining machinery on an 'as is where is' basis.
- Transaction completion target revised to October 2026 due to previous process delays.
Gokak Textiles has approved the permanent closure and sale of its loss-making Knitwear Unit in Belagavi, Karnataka, for a consideration of Rs 19.50 Crores. The unit, which contributed 9.76% (Rs 4.23 Cr) to FY26 revenue, had a significant negative net worth of Rs 41.93 Cr. The sale proceeds represent approximately 51% of the company's current market capitalization of Rs 38 Cr, providing a much-needed cash infusion. The transaction is expected to be completed by October 2026, pending regulatory and labor approvals.
- Sale consideration agreed at Rs 19.50 Crores for the 15.65-acre Knitwear Unit to M/s V. G. Parekh & Co.
- Unit contributed Rs 4.23 Crores (9.76%) to total revenue in FY 2025-26.
- Unit's net worth was negative Rs 41.93 Crores as of March 31, 2026, weighing down the consolidated balance sheet.
- Sale value of Rs 19.50 Cr is approximately 51.3% of the company's current market cap of Rs 38 Cr.
- Expected completion date for the closure and asset disposal is October 2026.
Gokak Textiles has approved the permanent closure and sale of its Knitwear Unit in Belagavi, Karnataka, for a consideration of ₹19.50 Cr. The unit, which contributed 9.76% (₹4.23 Cr) to FY26 revenue, has been operationally unviable with a significant negative net worth of ₹41.93 Cr. The sale proceeds are highly material, representing approximately 51% of the company's current market capitalization of ₹38 Cr. The transaction is expected to be completed by October 2026, providing a liquidity injection to the debt-stressed firm.
- Sale of 15.65 acres of freehold land and building for a total consideration of ₹19.50 Cr.
- Knitwear unit contributed ₹4.23 Cr to revenue in FY26, representing 9.76% of total operations.
- The unit carried a negative net worth of ₹41.93 Cr as of March 31, 2026.
- Sale proceeds of ₹19.50 Cr represent over 50% of the company's current market cap.
- Target completion date for the disposal is set for October 2026.
Gokak Textiles has scheduled a board meeting for August 11, 2026, to approve its unaudited financial results for the quarter ended June 30, 2026. The company is currently in a precarious financial position with a negative net worth of Rs 76 Cr and a high debt of Rs 288 Cr against a market cap of only Rs 38 Cr. While quarterly revenue improved to Rs 25.5 Cr in March 2026 from Rs 16.67 Cr in June 2025, the company remains deeply loss-making with a TTM PAT of Rs -36 Cr. This meeting will provide critical data on whether the operational recovery is sustaining enough to manage interest obligations.
- Board of Directors meeting scheduled for August 11, 2026
- Approval of results for the quarter ended June 30, 2026
- Trading window closed since June 25, 2026
- Trading window to remain closed until 48 hours after results are public
Financial Performance
Financial analysis data not yet available for this company.
Operational Drivers
Operational analysis data not yet available for this company.
Strategic Growth
Strategic growth analysis not yet available for this company.
External Factors
External factors analysis not yet available for this company.
Regulatory & Governance
Regulatory analysis not yet available for this company.
Risk Analysis
Risk analysis not yet available for this company.
