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SVP GLOBAL TEXTILES LIMITED (SVPGLOB)

₹3.53 -0.28% last close, 16 Oct

📊 NSE: SVPGLOB 🏢 Textiles - Spinning - Synthetic / Blended 📢 Latest filing: 01 Oct 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q4 FY26)

In its latest reported quarter, Q4 FY26, SVP GLOBAL's revenue was ₹0.0 Cr (-100.0% year on year), and net profit ₹200 Cr (against a loss a year earlier).

Q4 FY26 (₹ Cr)	Value	YoY vs Q4 FY25	QoQ
Revenue	₹0.0	-100.0%	—
Operating profit	₹-62.0	loss narrowed	loss widened
Net profit	₹200	from loss	from loss
EPS (₹)	17.55	from loss	from loss

Full quarterly financials → Results calendar →

SVPGLOB delivery percentage

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

On Fri, 16 Oct 2026, 74.41% of the SVPGLOB shares traded on NSE were taken to delivery, against the stock's own 20-session average of 76.02%. That is close to its usual level. Turnover was under ₹1 lakh, so a handful of trades can move this figure. Volume was 0.2 times its average, well below normal. It closed at a price band (circuit) on 8 sessions in about the last 20.

74.41%Delivery, 16 Oct

76.02%Own 20-session average

0.2×Volume vs its average

₹3.53NSE close · -0.28%

Delivery in the last 5 sessions: 71.3% · 88.1% · 65.5% · 63.4% · 74.4%

Delivery across the market →Circuit stocks →

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

SVP Global Textiles 44th AGM Approves All 4 Resolutions With 99.86% Votes in Favor

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 01 Oct 2026, 06:52 PM

SVP Global Textiles Limited submitted the Scrutinizer's report and voting results for its 44th Annual General Meeting held on September 30, 2026. A total of 6,74,15,593 votes were polled across 12,65,00,000 equity shares, representing a 53.29% voter turnout. All four resolutions—including the adoption of FY26 financial statements, the reappointment of Director Chirag Pittie, the appointment of Independent Director Aradhana Nayak, and cost auditor remuneration—passed with 99.86% approval.

Total voter turnout was 53.29% with 6,74,15,593 votes polled out of 12,65,00,000 total shares
Promoter group polled 100% of their 6,67,30,513 shares, voting entirely in favor across all resolutions
Public-others polled 6,85,080 votes, with 86.02% (5,89,276 votes) in favor and 13.98% (95,804 votes) against
All four agenda resolutions were approved with 99.86% majority support

💡 Track the company's financial turnaround efforts and ongoing going-concern uncertainties in upcoming quarterly earnings announcements.

SVP Global Textiles Concludes 44th AGM; Transacts 4 Ordinary and Special Resolutions

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 30 Sep 2026, 07:28 PM

SVP Global Textiles Limited held its 44th Annual General Meeting on September 30, 2026, via video conferencing. A total of 38 shareholders attended the virtual proceedings out of 24,967 shareholders as of the record cutoff. Key resolutions put to vote included the adoption of FY26 financial statements, the reappointment of director Mr. Chirag Pittie, and the appointment of Mrs. Aradhana Nayak as an Independent Woman Director. Detailed voting results scrutinized by Practicing Company Secretary Shravan A. Gupta will be released separately.

44th Annual General Meeting held virtually on September 30, 2026, lasting 32 minutes (3:00 PM to 3:32 PM)
38 shareholders attended the AGM out of a total base of 24,967 shareholders
4 agenda resolutions put to vote, including adoption of FY26 financials and appointment of Mrs. Aradhana Nayak
Remote e-voting was active from September 26, 2026 to September 29, 2026

💡 Monitor the formal scrutinizer report and voting results filed under Regulation 44 to confirm resolution approvals, as well as subsequent quarterly earnings for operational recovery.

SVP Global Textiles Convenes 44th AGM on September 30, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 08 Sep 2026, 04:59 PM

SVP Global Textiles Limited has issued the notice for its 44th Annual General Meeting scheduled for September 30, 2026, via Video Conferencing. Key agenda items include the adoption of FY26 financial statements, the reappointment of retiring director Mr. Chirag Pittie, and the appointment of Mrs. Aradhana Nayak as an Independent Woman Director for a 5-year term through August 13, 2031. Shareholders will also vote on ratifying ₹20,000 as remuneration for cost auditors M/s. M. Goyal & Co. for FY27.

44th Annual General Meeting to be held on September 30, 2026, at 3:00 PM via VC/OAVM
Appointment of Mrs. Aradhana Nayak as Independent Woman Director for a 5-year term from August 14, 2026, to August 13, 2031
Re-appointment of director Mr. Chirag Pittie, who retires by rotation
Cost auditor remuneration proposal of ₹20,000 plus taxes for FY27 to M/s. M. Goyal & Co.

💡 Track voting outcomes following the September 30, 2026 AGM, and monitor the company's going concern status and debt resolution developments in upcoming disclosures.

NCLT Admits CIRP Against Subsidiary Over ₹75.94 Cr Default to Canara Bank

🔴 NEGATIVE ⭐ 9/10

LEGAL 📅 04 Sep 2026, 06:45 PM

The NCLT Mumbai Bench-VI has admitted an insolvency application under Section 7 of the IBC filed by Canara Bank against Shrivallabh Pittie Enterprises Private Limited, a subsidiary of SVP Global Textiles Limited. The proceedings stem from an alleged default of ₹75.94 Cr on corporate guarantees issued for credit facilities of principal borrower Shrivallabh Pittie South West Industries Limited. A moratorium under Section 14 has been declared, and Mr. Sunil Kumar Kabra has been appointed as the Interim Resolution Professional (IRP). This default amount of ₹75.94 Cr substantially exceeds the parent company's market capitalization of ₹31 Cr and its negative net worth of ₹-58 Cr.

NCLT admitted Section 7 IBC application against subsidiary Shrivallabh Pittie Enterprises Pvt Ltd on September 03, 2026.
Alleged default amount is ₹75,93,98,670.05 (~₹75.94 Cr), with the date of default stated as March 13, 2023.
Liability arises from invoked corporate guarantees backing consortium credit facilities totaling ₹410 Cr sanctioned to the principal borrower.
Moratorium under Section 14 invoked; management of the subsidiary now vests with IRP Sunil Kumar Kabra.

💡 Monitor further disclosures on claims verification by the IRP and subsequent Committee of Creditors (CoC) actions, as well as the contagion risk on the listed parent entity.

SVP Global Textiles Announces Book Closure for 44th AGM Starting September 23, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 04 Sep 2026, 06:20 PM

SVP Global Textiles Limited has announced the schedule for its 44th Annual General Meeting (AGM), which will take place on Wednesday, September 30, 2026. In accordance with SEBI Listing Regulations, the Register of Members and Share Transfer Books will remain closed from September 23, 2026, to September 30, 2026 (both days inclusive). This is a standard administrative filing regarding annual corporate compliance.

44th Annual General Meeting scheduled for September 30, 2026
Book closure period set from September 23, 2026, to September 30, 2026
Filing submitted under Regulation 42 of SEBI (LODR) Regulations 2015

💡 Track the upcoming AGM proceedings and disclosures regarding resolution of ongoing financial distress, debt obligations (Rs 169 Cr), and negative net worth (Rs -58 Cr).

SVP Global Textiles Schedules 44th AGM for September 30, 2026; Sets Book Closure Dates

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 04 Sep 2026, 06:02 PM

SVP Global Textiles Limited announced the outcome of its Board meeting held on September 04, 2026. The Board approved convening the 44th Annual General Meeting (AGM) of the company on September 30, 2026, via Video Conferencing/OAVM. The remote e-voting window is scheduled from September 26 to September 29, 2026, with the register of members closed from September 23 to September 30, 2026. Additionally, the Board approved the FY26 Directors' Report, Management Discussion and Analysis, and appointed a scrutinizer for voting.

44th Annual General Meeting convened for September 30, 2026, at 03:00 P.M. via VC/OAVM
Remote e-voting window opens September 26, 2026 (09:00 A.M.) and closes September 29, 2026 (05:00 P.M.)
Register of Members and Share Transfer Books closed from September 23 to September 30, 2026
Approved Directors' Report, MD&A Report, and Corporate Governance Report for FY ended March 31, 2026

💡 Track shareholder resolutions and disclosures in the upcoming 44th AGM notice, particularly any commentary on the ongoing insolvency proceedings and operational turnaround.

SVP Global Textiles reports Q1 Net Loss of Rs 51.16 Cr on Nil Revenue; Appoints Independent Director

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 14 Aug 2026, 10:34 PM

SVP Global Textiles reported consolidated net losses of Rs 51.16 Cr for Q1 ended June 30, 2026, compared to a net loss of Rs 50.51 Cr in the corresponding quarter of the previous year. Net revenue from operations remained at zero during the quarter versus Rs 5.03 Cr in Q1 FY26. The Board approved the appointment of Mrs. Aradhana Nayak as an Additional Non-Executive Independent Woman Director for a 5-year term. The company also disclosed that debt covenants have been breached with loans recalled, and key subsidiaries remain under Corporate Insolvency Resolution Process (CIRP).

Consolidated revenue stood at Rs 0.00 Lakhs in Q1 ended June 30, 2026, down from Rs 503.13 Lakhs in Q1 FY26
Consolidated net loss widened to Rs 5,115.92 Lakhs (Rs 51.16 Cr) for Q1 ended June 30, 2026
Appointed Mrs. Aradhana Nayak as Non-Executive Independent Woman Director for a term of 5 years effective August 14, 2026
Lenders have recalled borrowings following debt covenant non-compliance; finance costs were unprovided in results
Two key subsidiaries (ShriVallabh Pittie South West Industries and ShriVallabh Pittie Industries) continue undergoing NCLT CIRP proceedings

💡 Track ongoing NCLT insolvency proceedings for subsidiaries and any formal debt restructuring or settlement notices from lenders.

SVP Global Textiles Reports Nil Q1 Revenue; Consolidated Net Loss at Rs 51.16 Cr

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 14 Aug 2026, 10:27 PM

SVP Global Textiles reported zero revenue from operations for the quarter ended June 30, 2026, compared to Rs 5.03 Cr (Rs 503.13 Lakhs) in the year-ago quarter. Consolidated net loss stood at Rs 51.16 Cr (Rs 5,115.92 Lakhs), compared to a loss of Rs 50.51 Cr in Q1 FY26. Standalone net loss widened to Rs 2.20 Cr (Rs 219.64 Lakhs) against Rs 2.02 Cr in the corresponding prior period. The company also announced the appointment of Mrs. Aradhana Nayak as an Independent Woman Director for a 5-year term.

Consolidated revenue from operations dropped to Rs 0.00 Lakhs in Q1 ended June 30, 2026, down from Rs 503.13 Lakhs in Q1 June 2025.
Consolidated net loss widened to Rs 5,115.92 Lakhs (Rs 51.16 Cr) compared to a loss of Rs 5,051.00 Lakhs in Q1 June 2025.
Standalone net loss stood at Rs 219.64 Lakhs with zero revenue and total expenditure of Rs 219.64 Lakhs.
Key subsidiaries ShriVallabh Pittie South West Industries and ShriVallabh Pittie Industries remain under CIRP (insolvency) and were excluded from consolidation.
Appointed Mrs. Aradhana Nayak as Additional Non-Executive Independent Woman Director for a 5-year term subject to shareholder approval.

💡 Track the progress of NCLT insolvency proceedings for key operating subsidiaries and resolution of recalled lender debt, as operations remain virtually halted.

SVP Global Textiles Submits Routine Share Dematerialization Certificate for Q1 FY27

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 10 Jul 2026, 02:06 PM

SVP Global Textiles has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended June 30, 2026. The company's Registrar and Share Transfer Agent, Skyline Financial Services, confirmed that no physical share certificates were received for dematerialization during this period. This is a standard procedural filing and does not impact the company's financial position. Investors should note the company's broader financial context, including a negative net worth of Rs 58 Cr and ongoing material uncertainty regarding its status as a going concern.

Compliance certificate issued for the quarter ended June 30, 2026.
Zero physical share certificates were received for dematerialization during the quarter.
Certificate issued by Registrar and Share Transfer Agent, Skyline Financial Services, on July 2, 2026.
Company reported a TTM revenue of only Rs 5 Cr against a debt of Rs 169 Cr.

💡 Focus on the company's insolvency proceedings and 'going concern' status rather than routine administrative filings. Monitor upcoming quarterly results for any recovery in manufacturing operations, which saw a 100% decline in inventory turnover in FY25.

SVP Global Textiles Announces Trading Window Closure from July 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 29 Jun 2026, 03:03 PM

SVP Global Textiles Limited has announced the closure of its trading window for all designated persons starting July 1, 2026, ahead of its Q1 FY2026-27 financial results. This is a standard regulatory requirement under SEBI (Prohibition of Insider Trading) Regulations. The company is currently in a precarious financial position with a negative net worth of ‡-58 Cr and TTM revenue of only ‡5 Cr. The date for the board meeting to approve these results will be announced later.

Trading window closure begins on July 1, 2026, for the quarter ending June 30, 2026.
Window to remain closed until 48 hours after the declaration of un-audited financial results.
Restriction applies to all promoters, directors, KMPs, and designated employees.
Company reported a negative net worth of ‡-58 Cr in the latest financial context.
TTM revenue stands at a minimal ‡5 Cr compared to a debt of ‡169 Cr.

💡 Investors should focus on the upcoming Q1 results to evaluate if the company can restart manufacturing operations, given the 100% decline in inventory turnover reported in FY25.

SVP Global Textiles Reports FY26 Net Loss of ₹6.37 Cr; Key Subsidiaries Under Insolvency

🔴 NEGATIVE ⭐ 8/10

EARNINGS 📅 30 May 2026, 10:28 PM

SVP Global Textiles reported a standalone net loss of ₹6.37 crore for the financial year ended March 31, 2026, an improvement from the ₹9.96 crore loss in FY25. However, the company reported zero revenue from operations for the entire year, indicating a total halt in standalone business activity. Significant risks persist as two key subsidiaries are currently under the Corporate Insolvency Resolution Process (CIRP) following NCLT orders. Furthermore, the company has not provided for finance costs on recalled borrowings, which could lead to higher actual liabilities than currently reported.

Standalone net loss for FY26 narrowed to ₹636.94 lakhs from ₹996.33 lakhs in the previous year.
Reported zero revenue from operations for both Q4 FY26 and the full financial year 2025-26.
Key subsidiaries Shri Vallabh Pittie South West Industries and Shri Vallabh Pittie Industries are under NCLT-led insolvency proceedings.
Independent Director Mrs. Prima Denish Parmar resigned effective May 31, 2026, citing personal and professional commitments.
The company has not provided for finance costs on recalled borrowings, stating it is awaiting interest charge intimations from lenders.

💡 Investors should exercise extreme caution as the company faces severe operational and financial distress, evidenced by zero revenue and insolvency proceedings at its main subsidiaries. The audit note regarding unprovided finance costs on recalled debt is a major red flag indicating potential understated liabilities.

SVP Global Textiles Reports FY26 Net Loss of ₹6.37 Cr; Key Subsidiaries Under Insolvency

🔴 NEGATIVE ⭐ 9/10

EARNINGS 📅 30 May 2026, 09:48 PM

SVP Global Textiles reported a standalone net loss of ₹6.37 crore for the full year ended March 31, 2026, compared to a loss of ₹9.96 crore in the previous year. The company's operational revenue has effectively collapsed, totaling only ₹35.87 lakhs for the entire fiscal year. Critically, the National Company Law Tribunal (NCLT) has initiated insolvency proceedings (CIRP) against its key step-subsidiaries. Additionally, the company has not provided for finance costs on recalled loans, indicating that actual liabilities may be significantly higher than reported.

Standalone net loss for FY26 narrowed to ₹636.94 lakhs from ₹996.33 lakhs in FY25.
Total revenue for FY26 was just ₹35.87 lakhs, reflecting a near-total cessation of standalone operations.
Key step-subsidiaries, Shri Vallabh Pittie South West Industries and Shri Vallabh Pittie Industries, are under NCLT insolvency proceedings.
Finance costs were not provided for in the results despite lenders recalling borrowings, pending interest intimations.
Independent Director Prima Denish Parmar resigned effective May 31, 2026, citing personal and professional commitments.

💡 Investors should exercise extreme caution or avoid this stock as the company faces severe liquidity issues and insolvency proceedings at the subsidiary level. The lack of operational revenue and non-provisioning of finance costs are major red flags regarding the company's viability.

SVP Global Textiles Promoters Confirm Zero Pledged Shares for 52.75% Stake in FY26

🟢 POSITIVE ⭐ 4/10

REGULATORY 📅 26 May 2026, 10:55 AM

Shrivallabh Pittie Ventures Limited, the promoter of SVP Global Textiles, has filed its annual disclosure under SEBI Takeover Regulations. The promoter group holds 6,67,30,513 shares, which constitutes 52.75% of the company's total equity as of March 31, 2026. The filing explicitly states that no shares were encumbered or pledged during the 2025-26 financial year. This routine disclosure confirms that the promoter's majority stake remains free of any liens or financial obligations involving the shares.

Promoter group holds 6,67,30,513 equity shares in SVP Global Textiles
Total promoter shareholding is maintained at 52.75% as of March 31, 2026
Zero shares were pledged or encumbered during the entire financial year 2025-26
Filing complies with Regulation 31(4) of SEBI (SAST) Regulations, 2011

💡 This confirms the absence of promoter-level debt pressure on the company's equity. Investors can maintain their positions as the promoter stake remains unencumbered.

SVP Global Textiles Appoints Narayan Das Suryawanshi as CS & Compliance Officer

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 20 Apr 2026, 05:33 PM

SVP Global Textiles Limited has announced a transition in its Key Managerial Personnel (KMP) following a board meeting held on April 20, 2026. Mrs. Urmi Chhapariya has resigned from the position of Company Secretary and Compliance Officer due to personal reasons, effective April 20, 2026. To fill the vacancy, the board has appointed Mr. Narayan Das Suryawanshi, a qualified Company Secretary (Membership No. A72253), effective April 21, 2026. Mr. Suryawanshi holds a Bachelor's degree in Commerce and has experience in corporate governance and regulatory affairs.

Resignation of Mrs. Urmi Chhapariya as Company Secretary effective from the close of business on April 20, 2026
Appointment of Mr. Narayan Das Suryawanshi (Membership No. A72253) as the new CS and Compliance Officer
The new appointment is effective from April 21, 2026, ensuring no vacancy in the compliance role
The company confirmed that there are no material reasons for the resignation other than personal commitments

💡 This is a routine administrative change in the company's compliance department and does not affect the business operations or financial outlook. Investors should continue to monitor the company's operational performance.

SVP Global Textiles Reports Resignation of Company Secretary Urmi Chhapariya

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 16 Apr 2026, 03:29 PM

SVP Global Textiles Limited has announced that Mrs. Urmi Chhapariya has resigned from her role as Company Secretary, Compliance Officer, and Key Managerial Personnel (KMP). Her resignation was tendered on April 16, 2026, and she will be officially relieved from her duties on April 20, 2026. The company stated the departure is due to personal reasons and confirmed there are no other material reasons for the exit. The management is currently in the process of identifying a suitable replacement to ensure regulatory compliance.

Mrs. Urmi Chhapariya to step down as Company Secretary and Compliance Officer effective April 20, 2026.
The resignation was formally submitted on April 16, 2026, citing personal commitments.
The outgoing officer confirmed no material reasons exist for the resignation other than those stated.
The company is actively seeking a new KMP to fill the vacancy in accordance with SEBI regulations.

💡 This is a routine administrative change and does not impact the company's operational fundamentals. Investors should monitor future filings for the appointment of a new Compliance Officer to ensure continuity in corporate governance.

View All SVPGLOB Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue experienced a significant decline of 69.2%, falling from INR 301.93 Cr in FY24 to INR 92.97 Cr in FY25. Standalone revenue for FY20 was INR 99.78 Cr, a 4.9% decrease from INR 104.95 Cr in FY19, primarily due to the strategic shift to stop trading and focus solely on manufacturing.

Geographic Revenue Split

Not disclosed in available documents, though the company operates through Indian and foreign subsidiaries including SV Pittie Trading (FZC) LLC.

Profitability Margins

Net Profit Margin for FY25 was -14.90%, showing a relative improvement from -39.73% in FY24 despite massive absolute losses. Historically, standalone net profit margins were 3.32% in FY19 compared to 2.73% in FY18, driven by the transition to higher-margin manufacturing activities.

EBITDA Margin

Consolidated EBITDA was INR 232.85 Cr in FY20 (16.5% margin). However, by FY25, the Operating Profit Margin collapsed to -11.31% from -0.25% in FY24, representing a 4424% deterioration in operating efficiency.

Capital Expenditure

Not disclosed in absolute INR Cr for the current period, but the company faces negative rating sensitivities for any further debt-funded capital expenditure that would worsen its financial risk profile.

Credit Rating & Borrowing

The company's liquidity is categorized as 'stretched' with average working capital (Cash Credit) utilization at approximately 90%. It faces a default claim of INR 35.63 Cr under Section 7 of the Insolvency and Bankruptcy Code (IBC).

⚙️ Operational Drivers

Raw Materials

Cotton and yarn (textile fibers) are the primary raw materials, though specific percentage of total cost is not disclosed.

Import Sources

Not specifically disclosed, but the industry is noted to be exposed to agro-climatic risks affecting domestic supply.

Capacity Expansion

Current installed capacity is not specified in MT; however, the company is described as a 'leading player' in the value chain that recently shifted focus from trading to manufacturing to capture higher value.

Raw Material Costs

Raw material costs are highly volatile due to agro-climatic factors; the company's profitability is susceptible to these price swings which cannot always be passed to customers due to stiff competition.

Manufacturing Efficiency

Capacity utilization metrics are not disclosed, but the company reported a 100% decline in inventory turnover ratio in FY25, indicating a severe halt or inefficiency in manufacturing throughput.

📈 Strategic Growth

Growth Strategy

The strategy focuses on increasing the scale of manufacturing operations and improving debt protection metrics. However, growth is currently hindered by a material uncertainty regarding the company's ability to continue as a 'going concern' due to massive losses and legal defaults.

Products & Services

Textile products, specifically yarn and value-added textile goods.

Brand Portfolio

SVP Global Textiles.

Strategic Alliances

The group operates through subsidiaries including Shrivallabh Pittie Enterprises Private Limited and SV Pittie Trading (FZC) LLC.

🌍 External Factors

Industry Trends

The textile industry is evolving towards integrated manufacturing; however, SVP is currently struggling with a 98% decline in interest coverage ratio (to -0.21), reflecting broader industry stress and internal financial instability.

Competitive Landscape

Faces intense competition from large, well-established textile players which limits margin expansion.

Competitive Moat

The company lacks a strong durable moat as it faces 'stiff competition' and is currently undergoing insolvency proceedings, which threatens its competitive positioning.

Macro Economic Sensitivity

Highly sensitive to agricultural output and inflation in raw cotton prices.

⚖️ Regulatory & Governance

Industry Regulations

Subject to textile industry standards and agro-commodity regulations; compliance with Corporate Governance was reported for FY25 except for items in the Secretarial Audit.

Taxation Policy Impact

The company has various pending tax litigations where the outcomes are material but the timing of cash outflows is currently unpredictable.

Legal Contingencies

A petition under Section 7 of the IBC was filed by a creditor for a default of INR 35,62,91,742.36 (INR 35.63 Cr), currently pending before the NCLT. This poses a critical risk to the company's existence.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the 'Going Concern' status, as auditors highlighted material doubt about the company's ability to continue operations given the INR 979.54 Cr loss in FY25.