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Akshar Spintex Limited (AKSHAR)

₹0.42 +0.00% last close, 16 Oct

📊 NSE: AKSHAR 🏢 Textiles - Cotton/Blended 📢 Latest filing: 30 Sep 2026 📝 Analysis written: 13 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Akshar Spintex's revenue was ₹29.9 Cr (+14.3% year on year, -13.0% on the previous quarter), and net profit ₹0.6 Cr (against a loss a year earlier); the operating margin was 7.3%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹29.9	+14.3%	-13.0%
Operating profit	₹2.2	from loss	+81.0%
Net profit	₹0.6	from loss	from loss
EPS (₹)	0.01	from loss	—
Operating margin	7.3%	—	—

Full quarterly financials → Results calendar →

AKSHAR delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 84.74% of the AKSHAR shares traded on NSE were taken to delivery, against the stock's own 20-session average of 69.41%. That is higher than usual for this stock. Turnover was only ₹3 lakh, so a handful of trades can move this figure.

84.74%Delivery, 16 Oct

69.41%Own 20-session average

0.8×Volume vs its average

₹0.42NSE close · +0.00%

Delivery in the last 5 sessions: 80.0% · 75.7% · 86.8% · 94.2% · 84.7%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Akshar Spintex Shareholders Reject All 9 Resolutions at AGM, Including Financials and Auditor Appointment

🔴 NEGATIVE ⭐ 8/10

MANAGEMENT 📅 30 Sep 2026, 06:04 PM

In an extraordinary corporate governance event, Akshar Spintex announced that all 9 resolutions put forth at its 13th Annual General Meeting held on September 28, 2026, failed to pass. Resolutions rejected by public shareholders included the adoption of FY26 financial statements, appointment of statutory auditors (M/s H. Jamnadas and Company), and director remuneration proposals. With promoters holding just 0.27% of shares, non-institutional public shareholders cast ~52-55% of polled votes against each agenda item. The company currently faces severe governance uncertainty alongside existing CARE D default status.

None of the 9 resolutions were passed due to lack of requisite majority votes
Adoption of FY26 Financial Statements rejected with 51.87% of total polled votes against (2,86,54,415 votes against vs 2,65,90,869 in favour)
Appointment of new Statutory Auditor rejected with 51.85% votes against
Turnout was low with 5,52,45,284 total votes polled representing only 7.02% of outstanding shares
Promoter holding stands at an ultra-low 0.27% (21.63 lakh shares held), leaving voting control entirely to public shareholders

💡 Watch for subsequent filings regarding how the Board plans to resolve statutory non-compliance (unadopted financial statements and vacant auditor/directorship positions) and any regulatory intervention by SEBI or ROC.

Akshar Spintex Resubmits Q1 FY27 Financial Results; Q1 Net Profit at Rs 0.60 Cr

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 07 Sep 2026, 04:01 PM

Akshar Spintex resubmitted its unaudited financial results for the quarter ended June 30, 2026, in a machine-readable format pursuant to an NSE compliance query. The results, originally approved on August 7, 2026, show revenue from operations of Rs 29.93 Cr (Rs 2,993.31 lakhs) compared to Rs 26.19 Cr in Q1 FY26. Net profit stood at Rs 0.60 Cr (Rs 59.80 lakhs) against a net loss of Rs 1.24 Cr in the corresponding quarter of the previous year. The statutory auditor issued a qualified observation regarding the inability to verify the physical existence and condition of inventories.

Resubmission of Q1 (ended June 30, 2026) results in compliance with NSE circular requirements.
Revenue from operations was Rs 29.93 Cr (Rs 2,993.31 lakhs) vs Rs 26.19 Cr in Q1 FY26.
Quarterly net profit reported at Rs 0.60 Cr (Rs 59.80 lakhs) vs net loss of Rs 1.24 Cr in Q1 FY26.
Auditor highlighted an inability to verify physical inventories due to lack of inspection during the period.
Total outstanding borrowing facilities reported at Rs 3.06 Cr with zero default reported as on date.

💡 Track subsequent quarterly filings to see whether internal controls and inventory verification issues raised by the auditor are resolved.

Akshar Spintex Schedules Annual General Meeting for September 28, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 01 Sep 2026, 04:46 PM

Akshar Spintex Limited has submitted notice of its upcoming Annual General Meeting scheduled for September 28, 2026. The filing is a standard regulatory intimation regarding the shareholder meeting date. Financially, the company operates under stressed liquidity and low promoter holding of 0.27%, reporting revenue of Rs 29.93 Cr and PAT of Rs 0.60 Cr for the quarter ended June 2026.

Annual General Meeting scheduled to be held on September 28, 2026
Intimation filed with the exchange on September 1, 2026
Company reported Q1 FY27 revenue of Rs 29.93 Cr and net profit of Rs 0.60 Cr
Promoter shareholding remains extremely low at 0.27%

💡 Track the full AGM notice and resolutions for any key agenda items such as board changes, auditor reports, or fundraise proposals.

Akshar Spintex Schedules 13th AGM for Sept 28, 2026; Recommends New Statutory Auditor

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 01 Sep 2026, 02:24 PM

Akshar Spintex Limited's Board approved the notice convening the 13th Annual General Meeting for September 28, 2026, via Video Conferencing. The Board recommended appointing M/s. H. Jamnadas & Company as Statutory Auditors for a five-year term ending in 2031, replacing retiring auditor M/s. H. B. Kalaria & Associates. Additionally, the Board recommended annual remunerations of up to ₹30 lakh for Chairman Harikrushna Chauhan, up to ₹15 lakh for Illaben Paghdar, and up to ₹12 lakh for Executive Director Harry Paghdar.

13th AGM scheduled for Monday, September 28, 2026, with cut-off date on September 21, 2026
Recommendation to appoint M/s. H. Jamnadas & Company as Statutory Auditors for a 5-year term until 2031
Proposed managerial remuneration of up to ₹30,00,000 per annum for Chairman-cum-WTD Harikrushna Chauhan for 3 years
Proposed remuneration of up to ₹15,00,000 per annum for Illaben Paghdar and up to ₹12,00,000 per annum for Harry Paghdar
Remote e-voting window open from September 23, 2026 (9:00 AM) to September 27, 2026 (5:00 PM)

💡 Track voting outcomes and shareholder approvals at the AGM on September 28, 2026, alongside any commentary on debt resolution and inventory/asset verification in the upcoming annual report.

Akshar Spintex Announces Cessation of Independent Director Parshotam L. Vasoya

🟡 NEUTRAL ⭐ 2/10

MANAGEMENT 📅 22 Aug 2026, 01:15 PM

Akshar Spintex Limited has disclosed the cessation of Mr. Parshotam L. Vasoya as a Non-Executive Independent Director, effective August 22, 2026, following the completion of his tenure. The company confirmed it will begin evaluating suitable candidates to appoint a new Independent Director to maintain SEBI LODR board composition requirements. In its most recent reported quarter (Jun 2026), the company posted revenue of Rs 29.93 Cr and a net profit of Rs 0.60 Cr.

Independent Director Parshotam L. Vasoya (DIN: 09229252) ceased his role effective August 22, 2026.
Cessation occurred due to the scheduled completion of his existing tenure.
Company is initiating the process to appoint a replacement Independent Director under Companies Act and SEBI LODR regulations.

💡 Track subsequent exchange filings for the appointment of a replacement Independent Director to ensure timely board compliance under SEBI LODR norms.

Akshar Spintex Reports Q1 FY27 Net Profit of ₹0.60 Cr; Auditor Flags Inventory Verification Issues

🔵 WATCH ⭐ 7/10

EARNINGS 📅 07 Aug 2026, 04:18 PM

Akshar Spintex has reported a turnaround in Q1 FY27 with a net profit of ₹0.60 Cr, compared to a net loss of ₹1.24 Cr in the same quarter last year. Revenue from operations grew 14.3% YoY to ₹29.93 Cr. However, the statutory auditor issued a modified conclusion, stating they were unable to verify the quantity and condition of inventories due to a lack of physical inspection. The company also reported non-payment of certain statutory dues like professional tax during the period.

Net Profit of ₹0.60 Cr in Q1 FY27 vs a loss of ₹1.24 Cr in Q1 FY26.
Revenue from operations increased to ₹29.93 Cr from ₹26.19 Cr in the year-ago period.
Auditor unable to obtain assurance on inventories (valued at ₹40.33 Cr in previous filings) due to lack of inspection.
Total financial indebtedness reported at ₹3.06 Cr as of June 30, 2026.
Rights issue proceeds of ₹48.75 Cr utilized primarily for working capital (₹33 Cr) and debt repayment (₹3.20 Cr).

💡 Investors should monitor whether the company can resolve the auditor's concerns regarding inventory verification and internal controls in subsequent quarters. The 'CARE D' rating and low promoter holding (0.3%) remain significant structural risks despite the marginal quarterly profit.

Akshar Spintex Approves Q1 FY27 Unaudited Financial Results

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 07 Aug 2026, 03:34 PM

Akshar Spintex Limited approved its unaudited standalone financial results for the quarter ended June 30, 2026, in a board meeting held on August 7, 2026. The company, currently valued at a market cap of Rs 31 Cr, is struggling with a TTM net loss of Rs 7 Cr and a 'CARE D' (Default) credit rating. With promoter holding at a critical low of 0.27%, these results are vital for assessing if the company can stabilize its operations following its 2024 Rights Issue. The filing confirms the completion of the limited review by auditors for the period.

Board approved unaudited standalone financial results for the quarter ended June 30, 2026
Company reported a TTM revenue of Rs 117 Cr against a small market capitalization of Rs 31 Cr
Promoter holding remains exceptionally low at 0.27% as of the latest reporting period
Operating margins (TTM) stood at -4.0%, reflecting ongoing profitability challenges
Board meeting concluded within 45 minutes, starting at 2:45 p.m. and ending at 3:30 p.m.

💡 Investors should scrutinize the full financial notes for any updates on the 'CARE D' rating and check if the auditor has cleared previous disclaimers regarding the verification of Rs 37.79 Cr in fixed assets.

Akshar Spintex Reports 100% Demat Holding for Quarter Ended June 30, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 13 Jul 2026, 04:53 PM

Akshar Spintex Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations for the period ending June 30, 2026. The company's Registrar and Share Transfer Agent, Bigshare Services Private Limited, confirmed that the entire shareholding of the company is already in dematerialized form. Consequently, no requests for dematerialization or rematerialization were received or processed during the quarter. This is a standard administrative filing confirming the electronic status of the company's equity.

100% of the company's shares are confirmed to be held in dematerialized form as of June 30, 2026
Zero requests for dematerialization or rematerialization were received during the quarter from March 31, 2026, to June 30, 2026
The filing confirms compliance with SEBI (Depositories and Participants) Regulations, 2018
Certificate issued by Bigshare Services Private Limited, the company's Registrar and Share Transfer Agent

💡 This is a routine regulatory filing with no impact on business fundamentals. Investors should monitor the upcoming quarterly earnings report for operational performance updates.

Akshar Spintex Announces Trading Window Closure from July 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 27 Jun 2026, 04:39 PM

Akshar Spintex Limited has announced the closure of its trading window effective July 1, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations. This closure is a standard procedure preceding the announcement of the company's unaudited financial results for the quarter ending June 30, 2026. The restriction applies to promoters, directors, and designated employees and will lift 48 hours after the results are published. Investors should note the company's challenging financial position, including a TTM loss of ₹7 Cr and a 'CARE D' (Default) rating.

Trading window closure begins on July 1, 2026, for the Q1 FY27 reporting period.
Window to remain closed until 48 hours after the declaration of unaudited financial results for the quarter ended June 30, 2026.
Restriction applies to all designated persons including the promoter group, which holds a minimal 0.27% stake.
The company reported a TTM revenue of ₹117 Cr with a negative operating margin of 4.0%.

💡 Watch for the upcoming Q1 FY27 results announcement date to assess if the company can improve its liquidity position and address the 'CARE D' default rating.

Akshar Spintex FY26 Revenue flat at ₹117.28 Cr; Annual Net Loss widens to ₹7.39 Cr

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 21 May 2026, 04:20 PM

Akshar Spintex reported a stagnant top-line for FY26 with revenue of ₹117.28 crore, nearly unchanged from the previous year. The company's annual net loss widened significantly to ₹7.39 crore from ₹4.45 crore in FY25, primarily due to higher depreciation and purchase costs. However, Q4 FY26 showed a narrowing of losses to ₹38.97 lakhs compared to a loss of ₹1.14 crore in the same quarter last year, alongside a significant improvement in operating cash flow.

Annual revenue from operations remained flat at ₹11,728.12 lakhs compared to ₹11,676.91 lakhs in FY25.
Net loss for the full year FY26 widened to ₹738.94 lakhs from ₹444.81 lakhs YoY.
Q4 FY26 net loss narrowed to ₹38.97 lakhs from ₹114.26 lakhs in Q4 FY25.
Finance costs decreased significantly by 62% to ₹41.17 lakhs from ₹108.95 lakhs in the previous year.
Net cash flow from operating activities turned positive at ₹767.51 lakhs vs a deficit of ₹2,957.16 lakhs in FY25.

💡 Investors should remain cautious as the company continues to report annual losses and stagnant revenue. While the narrowing quarterly loss and positive operating cash flow are encouraging, a clear path to profitability is needed for a positive outlook.

Akshar Spintex Pays ₹5.15 Lakh Penalty for SEBI Non-Compliance

🔴 NEGATIVE ⭐ 4/10

REGULATORY 📅 21 May 2026, 03:05 PM

Akshar Spintex Limited has voluntarily paid a penalty of ₹5,15,660 to the BSE for non-compliance with SEBI Listing Obligations. The fines stem from a 17-day delay in appointing a qualified Company Secretary and an 84-day failure to maintain the required minimum of six directors on the Board. Although the company is framing this as a move toward transparency, the underlying lapses highlight past governance gaps. The monetary impact is low, but it serves as a cautionary note regarding administrative oversight.

Total penalty amount of ₹5,15,660 paid to BSE for violations of Regulation 6 and 17(1)
Fine of ₹1,000 per day plus GST for a 17-day delay in appointing a Company Secretary
Fine of ₹5,000 per day plus GST for an 84-day delay in maintaining the required Board composition
The non-compliance periods occurred between September 2025 and February 2026

💡 Investors should note the governance lapse but recognize that the financial impact is immaterial to the company's operations. Continued monitoring of Board stability and regulatory filings is advised.

Akshar Spintex Pays ₹5.15 Lakh Penalty as NSE Rejects Waiver for SEBI Non-Compliance

🔴 NEGATIVE ⭐ 4/10

REGULATORY 📅 14 May 2026, 03:06 PM

Akshar Spintex Limited has paid a total penalty of ₹5,15,660 to the National Stock Exchange (NSE) after its waiver applications were rejected. The penalties were imposed for non-compliance with SEBI LODR Regulations regarding board composition and the appointment of a Company Secretary. Specifically, the company failed to maintain the minimum requirement of six directors for 84 days and lacked a qualified Compliance Officer for 17 days. The company has fulfilled the payment obligation as of May 13, 2026, following the NSE's refusal to waive the fines.

Total penalty of ₹5,15,660 paid for violations of SEBI LODR Regulations 17(1)(c) and 6
Board composition violation lasted 84 days with a fine of ₹5,000 per day plus GST
Company Secretary appointment delay lasted 17 days with a fine of ₹1,000 per day plus GST
NSE rejected the company's waiver application which cited shareholder non-approval and recruitment challenges
Net payment of ₹4,71,960 (after TDS) was completed on May 13, 2026

💡 Investors should note these governance lapses and monitor if the company stabilizes its board and management structure to avoid further regulatory friction. While the financial impact is small, consistent compliance issues can affect market sentiment and institutional trust.

Akshar Spintex to Close Trading Window from April 1, 2026 for FY26 Audited Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 23 Mar 2026, 10:58 AM

Akshar Spintex Limited has officially announced the closure of its trading window effective from April 1, 2026. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the declaration of audited financial results for the half-year and full year ending March 31, 2026. The restriction applies to all promoters, directors, and designated employees, preventing them from trading in company securities. The window will reopen 48 hours after the financial results are made public.

Trading window closure begins on Tuesday, April 1, 2026.
Closure is related to the Audited Financial Results for the year ending March 31, 2026.
Restriction applies to Promoters, Directors, KMPs, and their immediate relatives.
Trading window will reopen 48 hours after the declaration of the financial results.

💡 This is a routine regulatory filing and does not impact the company's fundamentals. Investors should monitor the upcoming board meeting date for the actual financial performance disclosure.

Akshar Spintex Approves Materiality Policy and Authorizes KMPs for SEBI Disclosures

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 24 Feb 2026, 05:58 PM

Akshar Spintex has formally adopted a 'Policy for Determination of Materiality of Events' as per SEBI (LODR) Regulations, 2015. The company has authorized Chairman Harikrushna Shamjibhai Chauhan and Director Ilaben Dineshbhai Paghdar to determine which events require disclosure to stock exchanges. The policy sets specific financial thresholds for materiality, including 2% of turnover or net worth and 5% of average profit after tax. This move enhances corporate governance by providing a clear framework for reporting significant developments.

Board approved the 'Policy for Determination of Materiality of Events' on February 24, 2026.
Materiality threshold set at the lower of 2% of turnover, 2% of net worth, or 5% of average 3-year PAT.
Chairman Harikrushna Shamjibhai Chauhan and Director Ilaben Dineshbhai Paghdar are the authorized KMPs for disclosures.
Policy mandates disclosure of all material events as soon as reasonably possible per Regulation 30 of SEBI LODR.

💡 This is a routine governance update and requires no immediate action. It provides a transparent framework for how the company will report future material events to the market.

Akshar Spintex Approves Materiality Policy and KMP Details for SEBI Compliance

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 24 Feb 2026, 05:19 PM

Akshar Spintex Limited held a board meeting on February 24, 2026, to formalize its compliance with SEBI (LODR) Regulations. The board approved a new policy for determining the materiality of events, which is a standard requirement for listed companies. Additionally, the company designated specific Key Managerial Personnel (KMP) to oversee the determination and disclosure of material events. The meeting was brief, lasting approximately 35 minutes, and no other business or financial matters were discussed.

Board meeting conducted on February 24, 2026, from 04:30 P.M. to 05:05 P.M.
Approved the Policy for Determining Materiality of Events under Regulation 30 of SEBI (LODR) Regulations, 2015.
Finalized details of Key Managerial Personnel (KMP) responsible for materiality assessments.
No other business matters were discussed during the session.

💡 This is a routine regulatory update regarding corporate governance and does not impact the company's financial standing. No immediate action is required from investors based on this announcement.

View All AKSHAR Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

The company operates in a single segment, 'Spinning of Cotton Yarn', which generated INR 48.53 Cr in H1 FY26, representing a decline of 19.4% compared to INR 60.21 Cr in H1 FY25.

Geographic Revenue Split

100% of revenue is derived from domestic operations in India, with the sole manufacturing facility located in Haripar, Jamnagar, Gujarat.

Profitability Margins

Net Profit Margin worsened from -1.6% in H1 FY25 to -6.6% in H1 FY26. The company reported a net loss of INR 3.20 Cr for H1 FY26, a 229.7% increase in loss compared to INR 0.97 Cr in H1 FY25.

EBITDA Margin

EBITDA margin (PBILDT) was negative 2.4% (INR -2.08 Cr) for 9MFY25. Core profitability remains negative as total expenses of INR 52.83 Cr exceeded total income of INR 49.50 Cr in H1 FY26.

Capital Expenditure

Historical capital expenditure for H1 FY26 was INR 1.02 Cr for Property, Plant & Equipment. No future planned capex was disclosed.

Credit Rating & Borrowing

The company is rated CARE D (Default) as of April 2025. Total bank facilities are INR 18.27 Cr, including INR 16.92 Cr long-term and INR 1.35 Cr short-term. Borrowing costs are high due to default status and poor liquidity.

⚙️ Operational Drivers

Raw Materials

Cotton (86.3% of total cost).

Import Sources

Gujarat, India.

Capacity Expansion

Current installed capacity is 24,480 spindles (6,000 MTPA). No expansion plans were disclosed.

Raw Material Costs

Raw material costs were INR 41.89 Cr in H1 FY26, representing 86.3% of revenue, compared to INR 51.02 Cr in H1 FY25.

📈 Strategic Growth

Growth Strategy

The company raised INR 48.75 Cr via a Rights Issue in October 2024, allocating INR 33 Cr for working capital and INR 3.45 Cr for debt repayment to stabilize operations and reduce finance costs, which fell 66% YoY in H1 FY26.

Products & Services

Carded, combed, and compact cotton yarn (16s to 44s counts).

🌍 External Factors

Industry Trends

The cotton textile industry is facing demand headwinds. ASL is struggling with a 19.4% revenue decline and a 'Default' rating, positioning it as a high-risk entity compared to solvent peers.

Competitive Landscape

Fragmented industry with significant competition from larger, more liquid spinning mills.

Competitive Moat

No durable moat. The company lacks internal controls, as evidenced by the auditor's inability to verify fixed assets (INR 37.79 Cr) and inventories (INR 40.33 Cr).