Flexituff Ventures International Limited (FLEXITUFF)
₹2.95 -1.99% last close, 16 Oct
Latest quarterly results (Q4 FY26)
In its latest reported quarter, Q4 FY26, Flexituff Ventures' revenue was ₹0.0 Cr (-100.0% year on year), and net profit ₹-69.0 Cr (a bigger loss than a year earlier).
| Q4 FY26 (₹ Cr) | Value | YoY vs Q4 FY25 | QoQ |
|---|---|---|---|
| Revenue | ₹0.0 | -100.0% | — |
| Operating profit | ₹-1.0 | loss narrowed | loss narrowed |
| Net profit | ₹-69.0 | loss widened | loss widened |
| EPS (₹) | -21.06 | loss widened | loss widened |
FLEXITUFF exchange data
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📢 Recent Corporate Announcements
Flexituff Ventures International Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited on October 6, 2026, pertains to the quarter and half-year ended September 30, 2026. It confirms that securities received for dematerialisation were processed, accepted/rejected, and listed on the respective stock exchanges within standard guidelines.
- Compliance submission under Regulation 74(5) of SEBI Regulations, 2018
- Pertains to the quarter and half-year ended September 30, 2026
- Issued by RTA MUFG Intime India Private Limited dated October 6, 2026
Flexituff Ventures International informed exchanges that shareholder resolutions to appoint three directors at its 33rd AGM on September 30, 2026, were not properly passed and must be re-passed. The individuals include Non-Executive Non-Independent Woman Director Mrs. Gudiya Yadav, alongside Additional Non-Executive Independent Directors Mrs. Surabhi Singh Rathod and Mr. Siddharth Shankar Mahajan. Consequently, the additional director tenures of Mrs. Rathod and Mr. Mahajan lapsed as of September 30, 2026. The company stated it will undertake corrective actions and statutory filings to regularize the appointments.
- Resolutions for 3 director appointments at the 33rd AGM held on September 30, 2026, failed proper passage
- Tenures of 2 Additional Independent Directors (Mrs. Surabhi Singh Rathod and Mr. Siddharth Shankar Mahajan) expired on September 30, 2026
- Appointment of Mrs. Gudiya Yadav as Non-Executive Non-Independent Woman Director requires re-passing
- Company to take corrective actions and statutory filings under SEBI LODR Regulations to regularize board seats
Flexituff Ventures International informed exchanges that shareholder resolutions to appoint three directors at its 33rd AGM on September 30, 2026, were not properly passed and must be re-passed. The individuals include Non-Executive Non-Independent Woman Director Mrs. Gudiya Yadav, alongside Additional Non-Executive Independent Directors Mrs. Surabhi Singh Rathod and Mr. Siddharth Shankar Mahajan. Consequently, the additional director tenures of Mrs. Rathod and Mr. Mahajan lapsed as of September 30, 2026. The company stated it will undertake corrective actions and statutory filings to regularize the appointments.
- Resolutions for 3 director appointments at the 33rd AGM held on September 30, 2026, failed proper passage
- Tenures of 2 Additional Independent Directors (Mrs. Surabhi Singh Rathod and Mr. Siddharth Shankar Mahajan) expired on September 30, 2026
- Appointment of Mrs. Gudiya Yadav as Non-Executive Non-Independent Woman Director requires re-passing
- Company to take corrective actions and statutory filings under SEBI LODR Regulations to regularize board seats
At its 33rd AGM held on September 30, 2026, Flexituff Ventures International approved the appointment of M/s. S.N. Gadiya & Co. as Statutory Auditors for a 1-year term until the 34th AGM. Shareholders also cleared the re-appointment of Whole-time Director Saurabh Kalani following his retirement by rotation. Additionally, a special resolution was passed to rebrand the company from Flexituff Ventures International Limited to Kaashipur Venture International Limited. These governance and branding changes occur amidst severe financial distress, with TTM revenues down to Rs 17 Cr and net worth at Rs -107 Cr.
- Appointed M/s. S.N. Gadiya & Co. as Statutory Auditor for a 1-year tenure from 33rd AGM to 34th AGM
- Shareholders approved re-appointment of Mr. Saurabh Kalani (DIN: 00699382) as Whole-time Director
- Special Resolution passed to rename the company to Kaashipur Venture International Limited
- Name availability clearance previously received from ROC CRC on September 2, 2026
At its 33rd AGM held on September 30, 2026, Flexituff Ventures International approved the appointment of M/s. S.N. Gadiya & Co. as Statutory Auditors for a 1-year term until the 34th AGM. Shareholders also cleared the re-appointment of Whole-time Director Saurabh Kalani following his retirement by rotation. Additionally, a special resolution was passed to rebrand the company from Flexituff Ventures International Limited to Kaashipur Venture International Limited. These governance and branding changes occur amidst severe financial distress, with TTM revenues down to Rs 17 Cr and net worth at Rs -107 Cr.
- Appointed M/s. S.N. Gadiya & Co. as Statutory Auditor for a 1-year tenure from 33rd AGM to 34th AGM
- Shareholders approved re-appointment of Mr. Saurabh Kalani (DIN: 00699382) as Whole-time Director
- Special Resolution passed to rename the company to Kaashipur Venture International Limited
- Name availability clearance previously received from ROC CRC on September 2, 2026
Flexituff Ventures International Limited announced key board decisions following its meeting on September 08, 2026. The Board approved the appointment of S.N. Gadiya & Co. as Statutory Auditors for FY 2026-27, subject to shareholder approval. Additionally, the company took note of CRC approval to rename the company to 'Kaashipur Ventures International Limited' and approved calling the 33rd Annual General Meeting. This comes amid severe financial distress, with TTM revenues down to Rs 17 Cr and a negative net worth of Rs -107 Cr.
- Appointment of S.N. Gadiya & Co. as Statutory Auditor for FY 2026-27, subject to AGM approval
- Approval granted by Central Registration Centre (CRC) to rename the company to 'Kaashipur Ventures International Limited'
- Board approved the revised draft Directors' Report for FY ended 31st March, 2026
- Board meeting held on September 08, 2026, commencing at 5.00 P.M. and concluding at 6.00 P.M.
Flexituff Ventures International Limited has appointed M/s. S.N. Gadiya & Co., Chartered Accountants, as its Statutory Auditors with effect from September 8, 2026. The firm has been practicing since 1983 and currently audits four listed entities. This comes at a time when the company faces severe financial distress, having recorded a net loss of ₹134 crore on revenue of ₹17 crore in FY26, alongside negative net worth of ₹-107 crore and total debt of ₹268 crore.
- S.N. Gadiya & Co. appointed as Statutory Auditors effective September 8, 2026
- Firm Registration No. is 002052
- Auditing firm has been in continuous practice since 1983
- Appointed auditor is currently associated with the audit of 4 listed entities
Flexituff Ventures International Limited has issued notice for its 33rd Annual General Meeting (AGM) scheduled for September 30, 2026. The key agenda items include the adoption of FY26 financial statements, the appointment of directors, and the appointment of S.N. Gadiya & Co. as statutory auditors at an annual fee of Rs 2,50,000. Additionally, the company seeks shareholder approval via special resolution to change its name to 'Kaashipur Venture International Limited'. This follows extensive restructuring after a steep revenue drop to Rs 17 Cr in FY26 and severe balance sheet distress.
- 33rd Annual General Meeting scheduled for September 30, 2026, at 02:30 P.M. IST via video conferencing
- Special resolution proposed to change company name to 'Kaashipur Venture International Limited'
- Proposal to appoint statutory auditor S.N. Gadiya & Co. at a remuneration of Rs 2,50,000 per annum plus expenses
- Director appointments include Mrs. Gudiya Yadav, Mrs. Surabhi Singh Rathod, and Mr. Siddharth Shankar Mahajan
Flexituff Ventures International Limited has notified the exchanges that its register of members and share transfer books will remain closed from September 24, 2026 to September 30, 2026. The book closure is conducted for the purpose of holding its 33rd Annual General Meeting (AGM) scheduled on September 30, 2026. The filing is standard annual compliance and does not contain any commercial or operational updates. The company remains in severe financial distress, having recorded zero revenue in recent quarters and an FY26 net loss of Rs 134 Cr.
- Share transfer books closed from September 24, 2026 to September 30, 2026 (both days inclusive)
- Purpose is the 33rd Annual General Meeting scheduled for September 30, 2026
- Record date explicitly noted as N.A. in the detailed table
- Company reported FY26 annual revenue of Rs 17.0 Cr and debt of Rs 268 Cr
Flexituff Ventures International reported zero revenue from operations for Q1 FY27 (quarter ended June 30, 2026) compared to ₹11.11 Cr in Q1 FY26, resulting in a loss before tax of ₹15.68 Cr. Statutory auditors issued a Disclaimer of Conclusion citing severe management deadlock, lack of verification records, non-appointment of internal auditor/CS, and outstanding audit fees. Additionally, total bank dues with interest reached ₹309.36 Cr as of June 30, 2026, triggering SARFAESI notices from lenders. The company has proposed changing its name to 'Kaashipur Ventures International Limited'.
- Revenue from operations collapsed to ₹0.00 for the quarter ended June 30, 2026, down from ₹11.11 Cr in Q1 FY26.
- Quarterly loss before tax stood at ₹15.68 Cr, driven primarily by finance costs of ₹7.59 Cr and depreciation of ₹6.01 Cr.
- Lenders have issued SARFAESI notices as total outstanding bank dues and accrued interest stood at ₹309.36 Cr as of June 30, 2026.
- Statutory auditor issued a Disclaimer of Conclusion and resigned due to unpaid fees and complete operational deadlock.
- Board approved a name reservation application to change company name to 'Kaashipur Ventures International Limited'.
Flexituff Ventures International Limited issued a corrigendum to its August 12, 2026 filing to correct typographical errors in the names of two newly appointed Independent Directors. The correct names are Mrs. Surabhi Singh Rathod (Additional Non-Executive Independent Woman Director) and Mr. Siddharth Shankar Mahajan (Additional Non-Executive Independent Director). Both appointments took effect on August 12, 2026, for a tenure of 12 months, subject to shareholder approval. The filing is purely administrative and does not alter the company's distressed financial standing.
- Corrects spelling of Mrs. Surabhi Singh Rathod (DIN: 11878920) and Mr. Siddharth Shankar Mahajan (DIN: 10819584)
- Both directors appointed for a term of 12 months starting from August 12, 2026
- Appointments remain subject to shareholder approval
- Company reported negative net worth of Rs -107 Cr and FY26 net loss of Rs -134 Cr
Flexituff Ventures has appointed Mrs. Surabhi Kumar Rathod (Company Secretary) and Mr. Siddharth Mahajan (Chartered Accountant) as Additional Non-Executive Independent Directors for a 12-month term starting August 12, 2026. These appointments aim to bolster corporate governance and financial oversight, which is critical given the company's severe financial distress, including a negative net worth of ₹107 Cr and a TTM loss of ₹134 Cr. The appointments are subject to shareholder approval and come at a time when the company is rated 'CARE D' (Default) and is attempting to deleverage through asset sales.
- Appointment of 2 new Independent Directors effective August 12, 2026
- Fixed term of 12 months for both newly appointed directors
- Company currently carries a debt of ₹268 Cr against a market cap of only ₹11 Cr
- TTM revenue has declined to ₹17 Cr from ₹598 Cr in FY24
- Appointments include one Woman Independent Director to meet regulatory requirements
Mr. Dharmendra Pawar has resigned as a Non-Executive Independent Director of Flexituff Ventures International Limited effective August 5, 2026. He also ceases to be a member of the Audit, Nomination and Remuneration, and Stakeholders’ Relationship Committees. The resignation is attributed to personal and unavoidable circumstances. This change occurs while the company faces severe financial distress, including a default rating (CARE D) and a negative net worth of ₹107 Cr.
- Resignation of Mr. Dharmendra Pawar effective from August 5, 2026
- Departure from 3 key board committees: Audit, NRC, and Stakeholders’ Relationship
- Company reported a TTM loss of ₹134 Cr against a market cap of only ₹12 Cr
- Debt stands at ₹268 Cr, significantly exceeding the company's current valuation
- TTM revenue has declined to ₹17 Cr from ₹598 Cr in FY24
Flexituff Ventures has informed that UCO Bank published possession notices in newspapers on August 3, 2026, under the SARFAESI Act, 2002. This legal action follows the company's persistent defaults, with a total debt of Rs 268 Cr significantly exceeding its Rs 13 Cr market capitalization. The company's financial health is critical, reporting a TTM loss of Rs 134 Cr and a negative net worth of Rs -107 Cr. This move by the lender indicates an escalation in debt recovery proceedings which may lead to the sale of secured assets.
- UCO Bank published possession notices in Free Press and Dainik Bhaskar on August 3, 2026.
- Total debt of Rs 268 Cr is approximately 20.6x the company's current market capitalization of Rs 13 Cr.
- TTM Revenue has collapsed to Rs 17 Cr, a 97% decline from FY24 revenue of Rs 598 Cr.
- Net worth remains deeply negative at Rs -107 Cr, indicating severe insolvency.
- TTM PAT stands at a loss of Rs 134 Cr, highlighting ongoing operational failure.
UCO Bank, acting for a consortium of lenders, has taken symbolic possession of Flexituff's commercial property in Uttarakhand as of July 29, 2026. This legal action under Section 13(4) of the SARFAESI Act follows the company's severe financial distress, including a negative net worth of ‹ -107 Cr and total debt of ‹ 268 Cr. The property is located in Mahuakhedaganj, Kashipur. This move signals an escalation in debt recovery proceedings by lenders against the company's remaining assets.
- Symbolic possession taken under Section 13(4) of the SARFAESI Act, 2002, on July 29, 2026.
- Action initiated by UCO Bank on behalf of a consortium of lenders regarding the Uttarakhand commercial property.
- Company debt of ‹ 268 Cr is approximately 17.8x its current market capitalization of ‹ 15 Cr.
- Net worth remains deeply negative at ‹ -107 Cr as per latest financial context.
- TTM revenue has collapsed to ‹ 17 Cr from ‹ 598 Cr in FY24.
Financial Performance
Revenue Growth by Segment
Not disclosed in available documents. However, the company executed a slump sale of its Flexible Intermediate Bulk Container (FIBC) business at Pithampur to Flexituff Technology International Limited (FTIL) on April 30, 2024, which significantly reduced the operational revenue base of the parent company.
Geographic Revenue Split
Not disclosed in available documents. The company operates through subsidiaries in Cyprus (Flexiglobal Holding Limited) and the United Kingdom (Flexiglobal UK Limited), suggesting international revenue streams.
Profitability Margins
Profitability was significantly impacted by a one-time settlement (OTS) gain of INR 165.85 Cr (16,585.09 lakhs) booked in Q1 FY25 (quarter ended June 30, 2024). This gain resulted from settlements with IFCI LTD, TPG Growth II SF Pte Ltd., and International Finance Corporation (IFC).
EBITDA Margin
Not disclosed in available documents. Core profitability is currently obscured by the 'Disclaimer of Conclusion' from auditors who were unable to verify financial records for the period ending September 30, 2025.
Capital Expenditure
Not disclosed in available documents. The company is currently in a divestment phase, having completed the slump sale of its Pithampur FIBC units on April 30, 2024.
Credit Rating & Borrowing
The company is rated 'CARE D; ISSUER NOT COOPERATING' and '[ICRA]D; ISSUER NOT COOPERATING'. These ratings indicate a state of default. Total rated debt by ICRA stands at INR 619.00 Cr, including a Term Loan of INR 37.00 Cr, Cash Credit of INR 289.00 Cr, and Non-Fund Based limits of INR 293.00 Cr.
Operational Drivers
Raw Materials
Polypropylene (PP) and other polymer resins (implied by the FIBC and technical textile business), though specific percentage of total cost is not disclosed in available documents.
Capacity Expansion
Current capacity is not disclosed. The company recently reduced its capacity by selling the FIBC business of its Pithampur units to an associate company, FTIL, on April 30, 2024.
Raw Material Costs
Not disclosed in available documents. Costs are likely volatile due to the company's default status, which may affect procurement terms and supplier credit.
Manufacturing Efficiency
Not disclosed in available documents. Auditors noted significant limitations in reviewing financial information, which prevents an assessment of manufacturing efficiency.
Strategic Growth
Growth Strategy
The company's strategy focuses on deleveraging through the sale of non-core or specific business units (slump sale of Pithampur FIBC units) and negotiating One-Time Settlements with financial institutions to clean up the balance sheet. The transfer of bank limits worth INR 83.95 Cr to FTIL was part of this restructuring strategy.
Products & Services
Flexible Intermediate Bulk Containers (FIBC), technical textiles, and geosynthetics.
Brand Portfolio
Flexituff.
Strategic Alliances
The company maintains a significant relationship with Flexituff Technology International Limited (FTIL), which is an associate company that recently acquired the parent's FIBC business.
External Factors
Industry Trends
The technical textile and packaging industry is shifting toward sustainable and recyclable FIBCs. However, FVIL is currently focused on financial survival rather than technology shifts, as evidenced by its 'Issuer Not Cooperating' status with rating agencies.
Competitive Landscape
Competes with other global and domestic FIBC manufacturers; however, financial distress puts FVIL at a competitive disadvantage regarding large-scale contract bidding.
Competitive Moat
The company lacks a sustainable moat at present due to its default status and the sale of major business units, which has eroded its market position and operational scale.
Macro Economic Sensitivity
Highly sensitive to interest rates and banking sector regulations due to its default status and ongoing debt restructuring needs.
Geopolitical Risks
Exposure to UK and European markets through Flexiglobal (UK) Limited makes the company sensitive to trade policies and economic shifts in those regions.
Regulatory & Governance
Industry Regulations
Subject to manufacturing standards for FIBCs and environmental norms for plastic processing. The company must comply with SEBI (LODR) Regulations, though it is currently facing audit disclaimers.
Taxation Policy Impact
The company has significant Deferred Tax Assets, but auditors have raised concerns regarding the company's ability to utilize these assets within the prescribed time limits under the Income Tax Act, 1961.
Legal Contingencies
The company has disclosed defaults on loans from banks and financial institutions as of November 14, 2025. It also faces 'significant limitations' in financial reporting as noted by statutory auditors in the September 2025 review.
Risk Analysis
Key Uncertainties
The primary uncertainty is the 'Disclaimer of Conclusion' by auditors for the Q2 FY26 results, meaning the financial health of the INR 456.94 Cr asset base cannot be verified. There is also uncertainty regarding the successful transfer of INR 83.95 Cr in bank limits to FTIL.
Geographic Concentration Risk
Not disclosed in available documents, though it has a presence in India, UK, and Cyprus.
Third Party Dependencies
High dependency on consortium banks for debt restructuring and on FTIL for the execution of the business transfer agreement.
Technology Obsolescence Risk
Risk is moderate as FIBCs are standard products, but the company's inability to invest in R&D due to financial distress may lead to long-term obsolescence.
Credit & Counterparty Risk
High risk. The company is in default (Rating D), indicating that it is a high-risk counterparty for any new financial or commercial transactions.
