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Visagar Polytex Limited (VIVIDHA)

₹0.50 +0.00% last close, 16 Oct

📊 NSE: VIVIDHA 🏢 Garments & Apparels 📢 Latest filing: 12 Oct 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Visagar Polytex's revenue was ₹0.2 Cr (+106.2% year on year), and net profit ₹-0.4 Cr (a smaller loss than a year earlier); the operating margin was -92.2%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹0.2	+106.2%	—
Operating profit	₹-0.2	loss narrowed	loss widened
Net profit	₹-0.4	loss narrowed	loss narrowed
EPS (₹)	-0.01	loss narrowed	—
Operating margin	-92.2%	—	—

Full quarterly financials → Results calendar →

VIVIDHA delivery percentage

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

On Fri, 16 Oct 2026, 77.16% of the VIVIDHA shares traded on NSE were taken to delivery, against the stock's own 20-session average of 70.31%. 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.

77.16%Delivery, 16 Oct

70.31%Own 20-session average

0.2×Volume vs its average

₹0.50NSE close · +0.00%

Delivery in the last 5 sessions: 97.7% · 76.3% · 78.7% · 54.3% · 77.2%

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

Visagar Polytex Submits Reg 74(5) Dematerialisation Certificate for Q2 Ended Sep 30, 2026

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 12 Oct 2026, 03:27 PM

Visagar Polytex Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the half-year/quarter ended September 30, 2026. The certificate issued by Registrar and Share Transfer Agent, Adroit Corporate Services Pvt. Ltd., confirms the dematerialisation, verification, and cancellation of security certificates within 15 days. This is a regular administrative and compliance filing with no bearing on business performance or operations.

Compliance certificate under Regulation 74(5) submitted for the period ended 30th September, 2026
Issued by RTA Adroit Corporate Services Pvt. Ltd. dated 03 October 2026
Confirmed that securities received for demat were verified and listed, and certificates mutilated within 15 days

💡 No action required. Investors should track forthcoming Q2 earnings announcements for operational updates.

Visagar Polytex Shareholders Approve Composite Scheme of Arrangement with 99.16% Majority

🟢 POSITIVE ⭐ 7/10

M&A 📅 05 Oct 2026, 06:50 PM

Visagar Polytex Limited announced the voting results of its 43rd Annual General Meeting held on September 30, 2026. Shareholders approved all five resolutions, including the adoption of FY26 financial statements, statutory auditor appointments, and material related-party transactions. Notably, the special resolution for the Composite Scheme of Arrangement was passed with 99.16% of total polled votes in favour, though 38.42% of public non-institutional e-voters opposed it. Total voter turnout was low, representing 6.78% of the company's total outstanding shares.

Composite Scheme of Arrangement approved with 99.16% of total votes polled in favour (19,670,558 votes)
Total voter participation was 19,836,789 shares, representing 6.78% of total outstanding equity shares
Material Related Party Transactions approved with 99.19% total support, despite 37.12% dissent among public e-voters
Promoter group voted 16,468,533 shares via poll, accounting for 83% of all votes cast across resolutions

💡 Track subsequent regulatory and NCLT approvals required to sanction and implement the Composite Scheme of Arrangement, as well as operational revival details.

Visagar Polytex Holds 43rd AGM; Seeks Approval for Composite Scheme of Arrangement

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 30 Sep 2026, 06:09 PM

Visagar Polytex Limited conducted its 43rd Annual General Meeting on September 30, 2026. The meeting considered ordinary business, including the adoption of FY26 financial statements, auditor appointment, and director re-appointment. Additionally, shareholders voted on material related-party transactions and a special resolution for a Composite Scheme of Arrangement aimed at restructuring the company. The detailed scrutinizer voting results are awaited.

43rd Annual General Meeting conducted on September 30, 2026, from 11:00 AM to 11:25 AM
Remote e-voting held between September 27, 2026 (9:00 am) and September 29, 2026 (5:00 pm)
Proposed a Special Resolution to approve a Composite Scheme of Arrangement between the company and its shareholders
Considered adoption of Audited Financial Statements for the Financial Year ended March 31, 2026

💡 Track the formal disclosure of voting results and subsequent regulatory or NCLT updates regarding the Composite Scheme of Arrangement.

Visagar Polytex Recommends CA Riddhi Kishor Trivedi as Statutory Auditor for 5-Year Term

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 08 Sep 2026, 10:57 PM

Visagar Polytex Limited announced that its Board of Directors approved the appointment of CA Riddhi Kishor Trivedi as Statutory Auditor on September 7, 2026. The appointment is for a term of five consecutive years, running from the conclusion of the 44th AGM until the 49th AGM, subject to shareholder approval. The company currently operates at distressed levels with FY26 revenue of Rs 0.12 cr and an annual net loss of Rs 1.54 cr. This appointment is a standard statutory compliance procedure to fulfill regulatory audit requirements.

Board approved the statutory auditor appointment on September 7, 2026
Appointed for a 5-year tenure spanning from the 44th AGM to the 49th AGM
Auditor CA Riddhi Kishor Trivedi brings 5 years of post-qualification experience
Company FY26 annual net loss stood at Rs 1.54 cr on Rs 0.12 cr revenue

💡 Track shareholder voting on the auditor appointment at the upcoming 44th Annual General Meeting and observe upcoming quarterly audit disclosures.

Visagar Polytex Convenes 43rd AGM on Sep 30, 2026; Proposes Rs 25 Cr RPT Limits & Capital Restructuring

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 08 Sep 2026, 09:01 PM

Visagar Polytex Limited has issued the notice for its 43rd Annual General Meeting scheduled for September 30, 2026. Key special resolutions include approval for material related party transactions of up to Rs 25 Crore per entity across 8 related parties for FY 2026-27, alongside a Composite Scheme of Arrangement for capital restructuring. The company also proposes appointing Ms. Riddhi Kishor Trivedi as Statutory Auditor for a 5-year term following the casual vacancy from M/s Bhatter & Associates. Financially, the company remains distressed with negative shareholders' equity, ROCE of -28.85%, and Net Profit Ratio of -1334.91% for FY 2025-26.

43rd Annual General Meeting scheduled for September 30, 2026, at 11:00 AM in Mumbai
Shareholder approval sought for material related-party transactions up to Rs 25 Crore per related party for FY 2026-27 across 8 entities
Proposal to approve a Composite Scheme of Arrangement under Sections 230 to 232 of the Companies Act, 2013
Appointment of Ms. Riddhi Kishor Trivedi as Statutory Auditor for a term of 5 consecutive years
FY26 financial performance ratios show Net Profit Ratio of -1334.91% and ROCE of -28.85% amid ongoing operating losses

💡 Track shareholder and NCLT approval outcomes regarding the Composite Scheme of Arrangement, as well as the voting results of the AGM on September 30, 2026.

Visagar Polytex Statutory Auditor Resigns Effective September 7, 2026

🔴 NEGATIVE ⭐ 7/10

MANAGEMENT 📅 08 Sep 2026, 03:26 PM

Visagar Polytex Limited announced that its statutory auditor, M/s. Bhatter & Associates, Chartered Accountants (FRN: 131411W), has resigned effective September 7, 2026. The resignation comes amid persistent financial distress, with the company reporting a negative net worth, TTM revenue of near Rs 0 Cr, and an annual net loss of Rs 1.54 Cr in FY26. Promoter holding currently stands at 5.63%. Investors must now monitor the appointment of an incoming statutory auditor and the reason for the abrupt departure.

Statutory auditor M/s. Bhatter & Associates (FRN: 131411W) resigned effective September 7, 2026
Company reported minimal FY26 annual revenue of Rs 0.12 Cr and a net loss of Rs 1.54 Cr
Promoter shareholding remains low at 5.63% as of June 2026
Filing made under Regulation 30 following SEBI circular dated January 30, 2026

💡 Track the appointment of the replacement auditor and review the detailed resignation letter (Annexure A) for any audit qualifications or disagreements.

Visagar Polytex Statutory Auditor Resigns Effective September 7, 2026

🔴 NEGATIVE ⭐ 7/10

MANAGEMENT 📅 08 Sep 2026, 03:15 PM

Visagar Polytex Limited announced that its Statutory Auditor, M/s. Bhatter & Associates (Firm Registration No: 131411W), has tendered their resignation effective September 7, 2026. The resignation comes amid ongoing financial distress for the company, which reported a net loss of Rs 1.54 Cr on revenue of just Rs 0.12 Cr in FY26 and has a negative net worth. The company will need to appoint a successor auditor to comply with statutory and listing regulations.

M/s. Bhatter & Associates (FRN: 131411W) resigned as Statutory Auditor effective September 7, 2026
Filing submitted to BSE and NSE on September 8, 2026 pursuant to Regulation 30
Detailed reasons referenced to attached resignation letter under SEBI circular requirements
Company reported negative net worth and FY26 revenue of Rs 0.12 Cr

💡 Track the upcoming board meeting announcements for the appointment of a new statutory auditor and any disclosures regarding the specific reasons cited in the resignation letter.

Visagar Polytex Approves 100:1 Share Consolidation and ₹6 Cr Capital Infusion

🔵 WATCH ⭐ 8/10

FUNDRAISE 📅 07 Sep 2026, 11:35 PM

Visagar Polytex's board has approved a Draft Composite Scheme of Arrangement featuring a capital reduction and a 100:1 share consolidation, reducing paid-up capital from ₹29.27 Cr to ₹29.27 Lakhs to write off accumulated losses. Concurrently, the company approved a preferential issue of 3.00 Cr equity shares and 3.00 Cr warrants at ₹1 each, totaling ₹6.00 Cr in fresh capital. Relative to the company's current market capitalization of ₹17 Cr, the ₹6 Cr proposed infusion represents approximately 35%. Statutory auditors M/s Bhatter & Associates also resigned, replaced by Ms. Riddhi Kishor Trivedi subject to AGM approval.

Share capital reduction from ₹29,27,00,534 (29.27 Cr shares at Re 1) to ₹29,27,005 followed by a 100:1 consolidation to Re 1 face value
Preferential issue of 3,00,00,000 equity shares at Re 1 each raising ₹3,00,00,000
Preferential issue of 3,00,00,000 warrants at Re 1 each raising ₹3,00,00,000 (25% upfront, 75% within 18 months)
Total capital infusion of ₹6.00 Cr to strengthen net worth and facilitate revival
Resignation of Statutory Auditors M/s Bhatter & Associates; Ms. Riddhi Kishor Trivedi appointed to fill vacancy

💡 Track shareholder approval at the upcoming AGM on September 30, 2026, followed by the NCLT approval process and timeline for the Scheme of Arrangement.

Rs 22.68 Lakhs Revenue: Visagar Polytex Reports Narrowed Loss in Q1 FY27

🟡 NEUTRAL ⭐ 5/10

EARNINGS 📅 13 Aug 2026, 04:19 PM

Visagar Polytex reported a revenue of Rs 22.68 Lakhs for the quarter ended June 30, 2026, a 109% increase from Rs 10.85 Lakhs in the same quarter last year. The company's net loss narrowed to Rs 20.56 Lakhs from a loss of Rs 45.00 Lakhs YoY, primarily due to lower other expenses. However, finance costs surged to Rs 21.34 Lakhs from Rs 8.48 Lakhs, indicating rising debt servicing pressure. The company remains fundamentally weak with a negative net worth and a very low promoter holding of 5.63%.

Revenue from operations grew to Rs 22.68 Lakhs in Q1 FY27 from Rs 10.85 Lakhs in Q1 FY26.
Net loss for the quarter narrowed to Rs 20.56 Lakhs compared to a loss of Rs 45.00 Lakhs in the previous year's quarter.
Finance costs increased significantly by 151% to Rs 21.34 Lakhs from Rs 8.48 Lakhs YoY.
Purchase of stock-in-trade rose to Rs 17.85 Lakhs from just Rs 0.60 Lakhs in the year-ago period.
Total expenses decreased to Rs 43.24 Lakhs from Rs 55.85 Lakhs YoY, despite higher trading activity.

💡 Investors should monitor the progress of the proposed 'Scheme of Arrangement' for capital restructuring, as the company currently operates with negative net worth and high debt relative to its revenue.

Visagar Polytex Submits Routine SEBI Regulation 74(5) Certificate for June 2026 Quarter

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 15 Jul 2026, 12:55 PM

Visagar Polytex Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, provided by Adroit Corporate Services Pvt. Ltd., confirms that share certificates received for dematerialization during the quarter ended June 30, 2026, were processed and listed on the stock exchanges. This is a standard administrative filing required for all listed companies. Financially, the company remains in a distressed state with TTM revenue of Rs 0 Cr and a negative net worth.

Compliance certificate issued for the quarter ended June 30, 2026
Confirmation that dematerialization requests were processed within 15 days
Company reports TTM revenue of Rs 0 Cr and a net loss of Rs 2 Cr
Promoter holding remains critically low at 5.63% as of March 2026
Company is currently undergoing a capital restructuring via a Scheme of Arrangement

💡 This is a routine procedural filing. Investors should focus on the company's upcoming results and the progress of its 'Scheme of Arrangement' for business revival, given its current zero-revenue status.

Visagar Polytex Announces Trading Window Closure Starting July 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 26 Jun 2026, 04:25 PM

Visagar Polytex Limited has notified the stock exchanges that its trading window will be closed starting Wednesday, July 1, 2026. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the declaration of financial results for the quarter ended June 30, 2026. The window will remain shut for all designated persons until 48 hours after the results are officially announced. This is a standard regulatory procedure to prevent insider trading during the sensitive period of financial reporting.

Trading window closure begins on July 1, 2026, for all designated persons.
The closure is related to the upcoming financial results for the quarter ended June 30, 2026.
The window will reopen 48 hours after the declaration of the financial results.
The filing is pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015.

💡 This is a routine regulatory filing with no impact on company fundamentals. Investors should wait for the actual quarterly financial results to evaluate the company's performance.

Visagar Polytex Promoter Discloses 1.65 Cr Shareholding; 1.38 Cr Shares Pledged in FY26

🔴 NEGATIVE ⭐ 7/10

REGULATORY 📅 15 Jun 2026, 10:31 AM

Tilokchand Kothari, Promoter of Visagar Polytex Limited, has submitted the annual disclosure under SEBI Takeover Regulations for the period ending March 31, 2026. The promoter group holds a total of 1,64,88,533 equity shares in the company. Notably, the disclosure reveals that 1,38,00,000 shares were pledged during the financial year, indicating a high level of encumbrance on the promoter's stake.

Total promoter group holding stands at 1,64,88,533 equity shares as of March 31, 2026.
A significant portion of 1,38,00,000 equity shares was pledged by the promoter during the financial year.
The pledged shares represent approximately 83.7% of the total promoter group shareholding.
The filing was made in compliance with Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

💡 Investors should exercise caution as more than 83% of the promoter's stake is pledged, which increases the risk of volatility and potential sell-offs if margin calls are triggered. It is advisable to monitor the company's financial health and the promoter's ability to release the pledge.

Visagar Polytex Reports FY26 Net Loss of ₹161.69 Lakhs; Net Worth Remains Negative

🔴 NEGATIVE ⭐ 8/10

EARNINGS 📅 29 May 2026, 06:02 PM

Visagar Polytex Limited (VIVIDHA) reported a standalone loss before tax of ₹161.69 lakhs for the financial year ended March 31, 2026, compared to a loss of ₹178.13 lakhs in the previous year. The company's financial position is precarious, with total equity turning negative at ₹(40.72) lakhs due to accumulated losses of ₹3,089.53 lakhs. The Earnings Per Share (EPS) for the full year remained negative at ₹(0.06). Additionally, the board has re-appointed Lakhpat M. Trivedi as the Internal Auditor for the 2026-27 fiscal year.

Reported a standalone loss before tax of ₹161.69 lakhs for FY26 versus ₹178.13 lakhs in FY25.
Total Equity (Net Worth) has been completely eroded, standing at ₹(40.72) lakhs as of March 31, 2026.
Accumulated losses in Reserves & Surplus increased to ₹3,089.53 lakhs from ₹2,935.68 lakhs year-on-year.
Full-year Earnings Per Share (EPS) remained negative at ₹(0.06) for both FY26 and FY25.
Non-current borrowings remain high at ₹629.14 lakhs relative to the company's asset base.

💡 Investors should exercise extreme caution as the company's net worth is fully eroded, indicating a high risk of insolvency. The continued losses and negative equity suggest that the business model is currently unsustainable without a major turnaround or capital infusion.

Visagar Polytex Submits SEBI Compliance Certificate for Q4 and FY 2025-26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 13 Apr 2026, 05:03 PM

Visagar Polytex Limited has submitted its compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations for the quarter and financial year ended March 31, 2026. The certificate, issued by Adroit Corporate Services Pvt. Ltd., confirms that all dematerialization requests were processed and the securities were listed on the stock exchanges. It also verifies that physical share certificates were mutilated and cancelled within the mandatory 15-day period. This filing is a standard administrative procedure to ensure the accuracy of the company's shareholding records.

Compliance certificate issued for the quarter and financial year ended March 31, 2026.
Confirmation that dematerialization requests were accepted or rejected and processed within 15 days.
Physical certificates were mutilated and cancelled after due verification by the depository participant.
The Registrar and Share Transfer Agent (RTA) for the company is Adroit Corporate Services Pvt. Ltd.

💡 No action is required from investors as this is a routine regulatory filing. Investors should monitor the company's upcoming full-year financial performance for more significant insights.

Visagar Polytex Announces Trading Window Closure from April 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 25 Mar 2026, 05:11 PM

Visagar Polytex Limited has informed the stock exchanges that its trading window for dealing in securities will be closed starting April 1, 2026. This action is taken in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the declaration of financial results for the quarter and year ending March 31, 2026. The window will remain closed for all designated persons and will only reopen 48 hours after the results are made public. This is a standard regulatory procedure followed by listed companies in India.

Trading window closure effective from Wednesday, April 1, 2026
Closure pertains to the financial results for the quarter and year ended March 31, 2026
Window to reopen 48 hours after the official declaration of financial results
Compliance with SEBI (Prohibition of Insider Trading) Regulation, 2015

💡 No action is required as this is a routine regulatory announcement. Investors should monitor the company's upcoming financial results for actual performance indicators.

View All VIVIDHA Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total revenue for FY 2024-25 was INR 0.0151 Cr, representing a near-total cessation of operations compared to previous periods. For the half-year ended September 30, 2025, revenue recovered slightly to INR 0.1134 Cr, a significant percentage increase from the near-zero base of the previous year.

Profitability Margins

Net Profit Ratio was -188.9% in FY 2023-24 and effectively 0% in FY 2024-25 due to nil revenue. The company reported a net loss of INR 1.664 Cr for FY 2024-25 and a further loss of INR 0.8961 Cr for the half-year ended September 30, 2025.

Capital Expenditure

The company recorded a sale of property, plant, and equipment amounting to INR 0.2656 Cr during FY 2024-25 as part of its restructuring efforts.

⚙️ Operational Drivers

Raw Materials

Fabric and unspecified textile raw materials are the primary inputs. Newsprint is also mentioned as a cost factor subject to price volatility.

Capacity Expansion

The company maintains a mix of machinery with value-addition capabilities under a single setup. No machinery was imported during FY 2024-25. Specific MTPA capacity is not disclosed.

Raw Material Costs

Raw material price movements, specifically fabric and newsprint, are identified as key risks that could increase direct costs and squeeze margins.

Manufacturing Efficiency

Capacity utilization metrics are not disclosed; however, the company is focusing on streamlining processes and reducing wastage to improve efficiency.

📈 Strategic Growth

Growth Strategy

The company is implementing a revised draft Scheme of Arrangement filed on March 5, 2025, aimed at restructuring the capital framework, reducing debt, and reviving business operations. Strategic pillars include stringent cost-cutting, reigniting revenue through innovative sales approaches, and evaluating market positioning to strengthen industry presence.

Products & Services

Textiles, value-added fabrics, and potentially newsprint-related products.

Brand Portfolio

Visagar Polytex.

Market Expansion

The company is exploring avenues for sales recovery and growth amidst paradigm shifts in the industry, though specific target regions are not listed.

🌍 External Factors

Industry Trends

The textile industry is facing a paradigm shift toward digital propositions and sustainable practices. The company is attempting to adapt to these shifts to remain competitive.

Competitive Landscape

The company faces an intense competitive landscape in the textile industry, which pressures pricing and market share.

Competitive Moat

The company cites its 'latest machinery with various value addition capabilities' as a benefit, though its current financial distress (negative net worth) suggests a weak competitive moat.

Macro Economic Sensitivity

The business is sensitive to adverse macroeconomic conditions and geopolitical tensions, which influence revenue growth and supply chain stability.

Consumer Behavior

There is an accelerated shift in consumer preferences towards digital propositions, requiring the company to adapt its business model.

Geopolitical Risks

Geopolitical tensions are cited as a factor influencing revenue growth and direct costs through supply constraints.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to Government policies, rules, and regulations specifically affecting the textile industries.

Taxation Policy Impact

The company recorded a deferred tax expense of INR 0.1173 Cr for FY 2024-25.

Legal Contingencies

The company reported that it does not have any pending litigations that would impact its financial position as of the reporting date.

⚠️ Risk Analysis

Key Uncertainties

Key risks include the successful implementation of the Scheme of Arrangement, newsprint price volatility, and the ability to attract and retain talent in a post-pandemic environment.