Amit Spinning Industries Limited (ASIL)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Amit Spinning's revenue was ₹25.0 Cr (+1.3% year on year, -31.9% on the previous quarter), and net profit ₹-2.7 Cr (a bigger loss than a year earlier); the operating margin was -1.5%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹25.0 | +1.3% | -31.9% |
| Operating profit | ₹-0.4 | to loss | to loss |
| Net profit | ₹-2.7 | loss widened | to loss |
| EPS (₹) | -9.67 | loss widened | to loss |
| Operating margin | -1.5% | — | — |
📢 Recent Corporate Announcements
Girnar Spintex Industries Limited (formerly Amit Spinning Industries Limited) submitted its statement of deviation or variation under Regulation 32(1) for the quarter ended September 30, 2026. The company stated that the regulation is not applicable since it has not conducted any public issue, rights issue, or preferential issue during the period. This is a routine quarterly compliance filing indicating zero deviation in fund utilization.
- Regulation 32(1) statement filed for quarter ended September 30, 2026
- Company confirmed no public issue, rights issue, or preferential issue was conducted
- Statement of deviation/variation deemed not applicable for the quarter
- Filing officially submitted and dated October 17, 2026
Girnar Spintex Industries Limited (formerly Amit Spinning Industries Limited) has submitted its compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate from RCMC Share Registry Private Limited confirms that securities received for dematerialisation were processed and cancelled within the prescribed 15-day timeline. Dematerialised shares remain listed on the stock exchanges. This is a standard quarterly administrative filing with no financial impact.
- Compliance certificate submitted under Regulation 74(5) for the quarter ended September 30, 2026
- RTA RCMC Share Registry confirmed demat requests were verified and cancelled within 15 days
- RTA certificate dated October 3, 2026, submitted to exchanges on October 17, 2026
Girnar Spintex Industries Limited (formerly Amit Spinning Industries Limited) has received approval from the Registrar of Companies (ROC), Pune, for a three-month extension to hold its Annual General Meeting (AGM) for the financial year ended March 31, 2026. The AGM, which was originally due by September 30, 2026, can now be conducted on or before December 31, 2026. The approval was granted via ROC letter dated September 15, 2026, following the company's application on September 11, 2026, under Section 96(1) of the Companies Act, 2013.
- ROC Pune granted a 3-month extension under Section 96(1) of the Companies Act, 2013
- AGM deadline extended from September 30, 2026, to on or before December 31, 2026
- Company filed application vide SRN AC5970647 on September 11, 2026, approved on September 15, 2026
- ROC issued an advisory to the company to remain careful regarding future compliance
Girnar Spintex Industries Limited (formerly Amit Spinning Industries) has cancelled its Annual General Meeting previously scheduled for September 30, 2026. The cancellation arose because the notice of the AGM could not be dispatched to members within the requisite statutory timeline. Consequently, the Board has authorized filing an application with the Registrar of Companies (ROC) to obtain an extension of time to hold the AGM for FY26. A fresh AGM date will be determined once approval is received from the ROC.
- Board cancelled the AGM earlier scheduled for September 30, 2026 at 1.00 P.M.
- Notice could not be dispatched to members within the requisite legal timeline.
- Application being filed before the Registrar of Companies (ROC) for extension of time for FY ended March 31, 2026.
- Board meeting approving the cancellation was held on September 09, 2026 between 4.00 p.m. and 5.00 p.m.
Girnar Spintex Industries Limited (formerly Amit Spinning Industries Limited) approved the Board's Report for FY 2025-26 at its board meeting on September 04, 2026. The company has scheduled its Annual General Meeting (AGM) for September 30, 2026, at 1.00 P.M. via video conferencing. Additionally, the Board approved the re-appointment of M/s. Thigale Utturkar and Associates as Internal Auditor and M/s. Nilesh Ashok Chalke as Cost Auditor for FY 2026-27.
- AGM scheduled for September 30, 2026 at 1.00 P.M. via video conferencing
- Board's Report approved for the financial year ended March 31, 2026
- Re-appointment of M/s. Thigale Utturkar and Associates as Internal Auditor for FY 2026-27
- Re-appointment of M/s. Nilesh Ashok Chalke as Cost Auditor for FY 2026-27
Girnar Spintex Industries Limited (formerly Amit Spinning Industries) reported Q1 revenue of ₹2,498.08 lakh, up marginally from ₹2,465.85 lakh YoY, but net losses widened sharply to ₹265.31 lakh from ₹34.36 lakh in Q1 FY26. The company provided an updated timeline for its composite textile plant modernisation, targeting commercial production of the Processing Division by the end of September 2026 and the expanded Spinning Division by end-November 2026. Additionally, the company shifted its banking ties to Cosmos Bank and secured a loan sanction for the expansion, placing an order for 11,040 spindles with Rieter India.
- Q1 standalone revenue was ₹2,498.08 lakh vs ₹2,465.85 lakh YoY; net loss widened to ₹265.31 lakh.
- Basic EPS for the quarter dropped to ₹(9.67) compared to ₹(1.25) in Q1 FY26.
- Processing Division commissioning targeted for end of September 2026; trial job work has commenced.
- Ordered 11,040 additional spindles from Rieter India, aiming for commercial spinning production by end of November 2026.
- Shifted banking facilities from HDFC Bank to Cosmos Bank and secured expansion loan sanction.
Girnar Spintex Industries (formerly Amit Spinning Industries) reported a standalone net loss of ₹265.31 lakh for the quarter ended June 30, 2026, widening from a loss of ₹34.36 lakh in Q1 FY26. Revenue from operations stood at ₹2,498.08 lakh, up marginally from ₹2,465.85 lakh year-on-year but down sequentially from ₹3,667.55 lakh in Q4 FY26. On the capex front, the company has secured debt sanction from Cosmos Bank and ordered 11,040 additional spindles from Rieter India. Commercial production for the expanded processing and spinning divisions is scheduled to commence by September 2026 and November 2026, respectively.
- Q1 FY27 revenue from operations reached ₹2,498.08 lakh versus ₹2,465.85 lakh in Q1 FY26
- Net loss widened significantly to ₹265.31 lakh compared to a loss of ₹34.36 lakh in the prior-year period
- Ordered 11,040 additional spindles from Rieter India with delivery expected within one month
- Targeting commercial operations for the expanded processing division by September 2026 and spinning by November 2026
- Total borrowings stood at ₹6,608.59 lakh (₹2,362.10 lakh non-current and ₹4,246.49 lakh current) as of June 30, 2026
Girnar Spintex Industries Limited (formerly Amit Spinning Industries Limited) has submitted its quarterly compliance report under Regulation 32(1) of SEBI LODR. The company confirmed that it has not raised any funds through public issues, rights issues, or preferential issues during the period. Consequently, there are no deviations or variations in the utilization of funds to report. This is a standard procedural filing for the quarter ended June 30, 2026.
- Reporting period concluded on June 30, 2026
- Zero funds raised via public, rights, or preferential issues during the quarter
- Compliance confirmed under Regulation 32(1) of SEBI (LODR) Regulations, 2015
- Statement of deviation is not applicable as no capital was raised
Girnar Spintex Industries Limited (formerly Amit Spinning Industries Limited) has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The document confirms that all share certificates received for dematerialization during the quarter ended June 30, 2026, were processed within the mandated 15-day period. This filing is a standard administrative requirement to verify the integrity of the company's share registry. No operational or financial data was disclosed in this report.
- Compliance certificate issued for the quarter ended June 30, 2026
- Dematerialization requests processed and depository names substituted within 15 days of receipt
- Confirmation provided by Registrar and Share Transfer Agent (RTA), RCMC Share Registry Private Limited
- Filing dated July 16, 2026, following the RTA's confirmation on July 01, 2026
Girnar Spintex (formerly Amit Spinning) reported a 23% YoY increase in revenue from operations to ₹24.66 crore for Q1 FY26. The company's net loss narrowed significantly to ₹34.36 lakhs from a loss of ₹75.50 lakhs in the same period last year. A key driver was the newly acquired fabric manufacturing unit (effective March 2025), which contributed approximately 68% of the total revenue. Despite the top-line growth, the company remains loss-making as total expenses rose to ₹26.09 crore, primarily due to a 72.5% increase in raw material costs.
- Revenue from operations increased 23.2% YoY to ₹2,465.85 lakhs from ₹2,000.54 lakhs.
- Net loss narrowed by 54.5% YoY to ₹34.36 lakhs compared to ₹75.50 lakhs in Q1 FY25.
- The new fabric manufacturing unit acquired in March 2025 contributed ~68% of total revenue this quarter.
- Cost of materials consumed surged 72.5% YoY to ₹1,738.71 lakhs, impacting margins.
- Appointed M/s. Shrenik Nagaonkar & Associates as Secretarial Auditor for a 5-year term (FY 2025-26 to 2029-30).
Girnar Spintex Industries Limited (formerly Amit Spinning Industries Limited) has announced the closure of its trading window for all designated persons and their immediate relatives starting July 1, 2026. This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, regarding the unaudited financial results for the quarter ended June 30, 2026. The window will remain closed until 48 hours after the board meeting where the results are approved. The specific date for the board meeting has not yet been disclosed.
- Trading window closure effective from July 1, 2026
- Closure pertains to the financial results for the quarter ended June 30, 2026
- Window to reopen 48 hours after the conclusion of the Board Meeting
- Applies to all designated persons and their immediate relatives as per SEBI regulations
Promoters Deepak Choudhari and Jitendrakumar Chopra of Girnar Spintex Industries Limited (formerly Amit Spinning Industries Limited) have declared that no equity shares were pledged or encumbered during the financial year ended March 31, 2026. The promoters collectively hold 29,04,969 shares, representing their entire stake in the company. The filing notes that while they are recognized as promoters by the Registrar of Companies following an NCLT resolution plan, administrative updates with CDSL and NSDL are still in progress. This disclosure confirms the absence of debt-related pressure on the promoter's equity holdings.
- Promoters declared zero encumbrance on 29,04,969 equity shares for the year ended March 31, 2026.
- Individual holdings consist of Deepak Choudhari with 14,52,485 shares and Jitendrakumar Chopra with 14,52,484 shares.
- The company was acquired under the Insolvency Resolution Process via an NCLT order dated July 31, 2018.
- Formal recognition of the new promoters in CDSL and NSDL records is currently pending due to procedural issues.
Girnar Spintex Industries Limited (formerly Amit Spinning Industries) reported a 19.5% YoY increase in annual revenue to ₹125.84 crore for FY26. Full-year net profit grew significantly by 55% to ₹3.86 crore, up from ₹2.49 crore in FY25, with EPS rising to ₹14.05. However, the Q4 FY26 performance was notably weak, with net profit plunging to ₹16.80 lakhs from ₹2.45 crore in the previous year's corresponding quarter. The company successfully integrated a new fabric manufacturing unit and maintained an unmodified audit opinion.
- Annual total revenue increased to ₹125.84 crore in FY26 from ₹105.30 crore in FY25.
- Full-year net profit rose 55% YoY to ₹3.86 crore, resulting in an EPS of ₹14.05.
- Q4 FY26 net profit dropped sharply to ₹16.80 lakhs compared to ₹2.45 crore in Q4 FY25.
- Finance costs for the full year increased to ₹5.53 crore from ₹4.37 crore in the previous year.
- The company reported zero defaults on loans and debt securities as of March 31, 2026.
Girnar Spintex Industries Limited (formerly Amit Spinning Industries) has failed to submit its audited financial results for the quarter and year ended March 31, 2026, within the regulatory timeline. The Board meeting originally scheduled for May 30, 2026, was adjourned to June 2, 2026, but the results could still not be finalized as the statutory audit process remains incomplete. The company cited pending information and audit procedures as the primary reasons for the delay. Management has stated that the results will be submitted immediately upon completion of the audit to ensure compliance with accounting standards.
- Board meeting for FY26 results originally scheduled for May 30, 2026, was adjourned due to pending information.
- Reconvened meeting on June 2, 2026, failed to approve results as statutory audit procedures are still ongoing.
- Company cited the non-availability of the final audit report as a key reason for the non-submission.
- Management claims the delay is unintentional and necessary to ensure the accuracy of financial information.
- The company is yet to provide a specific new date for the approval and submission of the FY26 results.
Girnar Spintex Industries Limited (formerly Amit Spinning Industries Limited) has announced a delay in the submission of its audited financial results for the fiscal year ended March 31, 2026. The Board of Directors met on May 30, 2026, but could not finalize the results due to pending audit procedures and missing critical information. The meeting has been adjourned and is now scheduled to reconvene on June 02, 2026. The company maintains that the delay is unintentional and necessary to ensure the accuracy of the financial statements.
- Audited financial results for FY ended March 31, 2026, delayed beyond the May 30 deadline.
- Board meeting adjourned to June 02, 2026, due to incomplete audit-related procedures.
- Delay caused by non-availability of certain critical information required for compliance.
- Company emphasizes the delay is to ensure the highest standards of corporate governance.
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