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Zenith Exports Limited (ZENITHEXPO)

₹198.89 +4.99% last close, 16 Oct

📊 NSE: ZENITHEXPO 🏢 Leather / Leather Products 📢 Latest filing: 06 Oct 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Zenith Exports' revenue was ₹13.5 Cr (-24.6% year on year, +3.0% on the previous quarter), and net profit ₹-0.6 Cr (against a profit a year earlier); the operating margin was -9.9%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹13.5	-24.6%	+3.0%
Operating profit	₹-1.3	to loss	loss widened
Net profit	₹-0.6	to loss	loss widened
EPS (₹)	-1.11	to loss	loss widened
Operating margin	-9.9%	—	—

Full quarterly financials → Results calendar →

ZENITHEXPO delivery percentage

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

On Fri, 16 Oct 2026, 100.0% of the ZENITHEXPO shares traded on NSE were taken to delivery, against the stock's own 20-session average of 85.89%. That is close to its usual level. Turnover was under ₹1 lakh, so a handful of trades can move this figure. Volume was under a tenth of its average. It closed at a price band (circuit) on 3 sessions in about the last 20.

100.0%Delivery, 16 Oct

85.89%Own 20-session average

<0.1×Volume vs its average

₹198.89NSE close · +4.99%

Delivery in the last 5 sessions: 91.9% · 97.5% · 100.0% · 54.6% · 100.0%

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

Zenith Exports Submits Reg 74(5) Dematerialisation Compliance for Q2 FY27

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 06 Oct 2026, 01:44 PM

Zenith Exports Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter and half-year ended 30th September 2026. The certificate, issued by its Registrar and Share Transfer Agent MUFG Intime India Private Limited on 03-10-2026, confirms the due processing, dematerialisation, and cancellation of physical share certificates. This filing is a standard quarterly regulatory submission with no impact on business operations or financials.

Regulation 74(5) compliance submitted for the quarter and half-year ended 30th September 2026
Confirmation certificate dated 03-10-2026 issued by RTA MUFG Intime India Private Limited
Confirmation that securities received for dematerialisation were mutilated, cancelled, and listed on exchanges

💡 No action is required; investors should track upcoming Q2 FY27 financial results for operational updates.

Zenith Exports AGM Approves Financials and MD Remuneration Hike with Over 99.98% Favor

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 25 Sep 2026, 06:28 PM

Zenith Exports Limited announced the voting results of its 44th Annual General Meeting held on September 24, 2026. A total of 3,375,833 votes were polled across 5,396,250 total shares, representing a 62.56% turnout. All three ordinary resolutions, including the adoption of FY26 financial statements, the reappointment of retiring director Mrs. Urmila Loyalka, and an increase in managerial remuneration for MD Mr. Varun Loyalka, passed with 99.98% votes in favor.

Overall voter turnout stood at 62.5587% with 33,75,833 votes polled out of 53,96,250 shares
Adoption of FY26 Audited Standalone Financial Statements passed with 99.9874% votes in favor
Re-appointment of Director Mrs. Urmila Loyalka approved with 99.9874% votes in favor
Increase in Managerial Remuneration of Managing Director Mr. Varun Loyalka approved with 99.9873% votes in favor
100% of promoter votes (24,57,556 shares) and 31.25% of public non-institution votes were cast

💡 Track the upcoming Q2 FY27 earnings for operational turnaround in the weaving and leather segments following negative operating margins in Q1 FY27.

Zenith Exports Concludes 44th AGM; All Resolutions Passed With Requisite Majority

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 24 Sep 2026, 02:06 PM

Zenith Exports Limited conducted its 44th Annual General Meeting (AGM) on September 24, 2026, via video conferencing. All agenda items were approved by shareholders with the requisite majority, including the adoption of FY26 audited standalone financial statements. Shareholders also approved the reappointment of Mrs. Urmila Loyalka as a director and passed a special resolution regarding an increase in managerial remuneration for Managing Director Mr. Varun Loyalka. Final scrutinizer voting results will be submitted to stock exchanges within two working days.

44th Annual General Meeting held on September 24, 2026, between 11:30 AM and 12:10 PM IST
Adopted audited standalone financial statements for the financial year ended March 31, 2026
Passed a special resolution to increase managerial remuneration of Managing Director Varun Loyalka
Remote e-voting was conducted from September 21, 2026 (9:00 AM) to September 23, 2026 (5:00 PM)
Scrutinizer to submit formal combined voting results within 2 working days

💡 Track the upcoming formal voting result disclosure to confirm detailed voting patterns, particularly regarding the special resolution on managing director remuneration.

Zenith Exports Convenes 44th AGM on Sept 24, 2026; Proposes MD Pay Hike to Rs 21.22 Lakh/Yr

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 02 Sep 2026, 07:59 PM

Zenith Exports Limited has released the notice for its 44th Annual General Meeting (AGM) scheduled for September 24, 2026, via Video Conferencing. The record cutoff date for determining e-voting eligibility is September 17, 2026, with remote e-voting open from September 21 to September 23, 2026. Key agenda items include adopting the FY25-26 audited financial statements, re-appointing Mrs. Urmila Loyalka as Director, and a special resolution to increase the annual remuneration of Managing Director Mr. Varun Loyalka from Rs 15.22 lakh to Rs 21.22 lakh.

44th AGM scheduled for September 24, 2026 at 11:30 AM via VC/OAVM
Cutoff date for e-voting eligibility set for September 17, 2026
Remote e-voting window runs from September 21, 2026 (09:00 AM) to September 23, 2026 (05:00 PM)
Proposed revision in MD Varun Loyalka's annual remuneration from Rs 15,21,600 to Rs 21,21,600 (Rs 50,000 monthly hike)

💡 Shareholders holding equity as of September 17, 2026, may cast their votes electronically ahead of the AGM on September 24, 2026.

Zenith Exports sets Sept 17 as cut-off date for 44th AGM e-voting

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 13 Aug 2026, 01:20 PM

Zenith Exports Limited has announced its 44th Annual General Meeting (AGM) to be held on September 24, 2026, via video conferencing. The company has fixed September 17, 2026, as the cut-off date to determine shareholder eligibility for remote e-voting. This is a standard procedural filing for a micro-cap company with a TTM revenue of Rs 65 Cr and a market capitalization of Rs 122 Cr. The full Annual Report for FY26 is expected to be dispatched in due course.

44th Annual General Meeting scheduled for September 24, 2026
Cut-off date for e-voting eligibility fixed as September 17, 2026
E-voting facility to be provided through National Securities Depository Limited (NSDL)
Meeting to be conducted via Video Conferencing (VC) or Other Audio Visual Means (OAVM)

💡 Shareholders should monitor for the release of the full Annual Report to review management's commentary on the loss-making Weaving division and the growth strategy for industrial gloves.

Zen i t h E x p o r t s s e t s S e p 1 7, 2 0 2 6 a s R e c o r d D a t e f o r 4 4 t h A G M

🟡 N E U T R A L ⭐ 2/10

R O U T I N E 📅 13 Aug 2026, 12:33 PM

Zen i t h E x p o r t s has announced i t s 4 4 t h A n n u a l G e n e r a l M e e t i n g (A G M) s c h e d u l e d f o r S e p t e m b e r 2 4, 2 0 2 6. T h e c o m p a n y has f i x e d S e p t e m b e r 1 7, 2 0 2 6, a s t h e r e c o r d d a t e t o d e t e r m i n e s h a r e h o l d e r e l i g i b i l i t y f o r e-v o t i n g. T h e b o o k c l o s u r e p e r i o d w i l l r u n f r o m S e p t e m b e r 1 8 t o S e p t e m b e r 2 4, 2 0 2 6. T h i s i s a s t a n d a r d a d m i n i s t r a t i v e f i l i n g f o r t h e ₹1 2 2 c r m a r k e t c a p c o m p a n y.

4 4 t h A n n u a l G e n e r a l M e e t i n g s c h e d u l e d f o r S e p t e m b e r 2 4, 2 0 2 6
R e c o r d d a t e f o r e-v o t i n g e l i g i b i l i t y f i x e d a s S e p t e m b e r 1 7, 2 0 2 6
B o o k c l o s u r e p e r i o d o f 7 d a y s f r o m S e p t e m b e r 1 8 t o S e p t e m b e r 2 4, 2 0 2 6
C u t-o f f d a t e f o r a s c e r t a i n i n g v o t i n g m e m b e r s i s S e p t e m b e r 1 7, 2 0 2 6

💡 I n v e s t o r s s h o u l d r e v i e w t h e f u l l A G M n o t i c e w h e n r e l e a s e d f o r u p d a t e s o n t h e i n e f f i c i e n t w e a v i n g d i v i s i o n w h i c h l o s t ₹4.7 6 C r i n F Y 2 5.

Zenith Exports reports Q1 Net Loss of ₹0.60 Cr; Revenue down 24.6% YoY

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 12 Aug 2026, 04:32 PM

Zenith Exports reported a weak Q1 FY27 (ending June 2026) with revenue declining 24.6% YoY to ₹13.49 crore from ₹17.90 crore. The company swung to a net loss of ₹0.60 crore, compared to a profit of ₹1.40 crore in the same period last year. All major business segments, including Silk Fabrics and Industrial Leather Gloves, reported losses at the segment result level. Despite the losses, the board approved a ₹50,000 per month salary hike for the Managing Director.

Revenue for Q1 FY27 fell to ₹13.49 crore from ₹17.90 crore in Q1 FY26
Net loss of ₹0.60 crore recorded against a profit of ₹1.40 crore in the year-ago period
Industrial Leather Hand Gloves segment revenue dropped to ₹8.54 crore from ₹12.39 crore YoY
Managing Director's salary increased by ₹50,000 per month following NRC recommendation
Total segment losses before interest and tax stood at ₹0.54 crore vs a profit of ₹2.30 crore YoY

💡 Monitor the recovery in the Industrial Leather Gloves segment, which accounts for ~63% of revenue, and watch for management commentary during the AGM on September 24, 2026, regarding margin stabilization.

Rs 26 Lakh Fine Paid by Zenith Exports Following Rejection of Regulatory Waiver

🔴 NEGATIVE ⭐ 4/10

REGULATORY 📅 11 Aug 2026, 05:33 PM

Zenith Exports Limited has paid a total fine of Rs 26,03,080 (Rs 13.01 lakh each to BSE and NSE) after its waiver application was rejected. The penalties were imposed for non-compliance with SEBI Listing Regulations 17(1), 23(9), and 34, which relate to board composition, related party disclosures, and annual report filings. The company was notified of the rejection on August 5, 2026, and settled the payment on August 11, 2026. This fine represents approximately 13% of the company's TTM PAT of Rs 2 Cr, indicating a notable impact on the current year's profitability.

Total penalty of Rs 26,03,080 paid to BSE and NSE combined on August 11, 2026.
Fine amount includes GST calculated at 18% on the base penalty.
Violations cited include non-compliance with SEBI Regulations 17(1), 23(9), and 34.
Waiver rejection notification was received from BSE on August 5, 2026.
The total fine amount represents approximately 13% of the company's TTM Net Profit of Rs 2 Cr.

💡 Monitor future compliance filings and the next Annual Report to ensure the company has rectified the board composition and disclosure issues cited by the exchanges.

Regulation 74(5) Compliance: Zenith Exports Submits Q1 FY27 Share Dematerialization Certificate

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 04 Jul 2026, 12:55 PM

Zenith Exports Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the period ended June 30, 2026. The certificate, issued by MUFG Intime India Private Limited, confirms that share certificates received for dematerialization were processed and the names of depositories were updated in the register of members. This is a standard procedural filing required for all listed companies to ensure the integrity of electronic shareholding. No material financial or operational changes were reported in this document.

Compliance confirmed for the quarter ended June 30, 2026
Certificate issued by Registrar and Share Transfer Agent (RTA) on July 1, 2026
Confirmation of mutilation and cancellation of physical certificates after dematerialization
Verification that dematerialized securities are listed on NSE and BSE

💡 This is a routine administrative filing; investors should focus on the upcoming Q1 FY27 financial results for fundamental performance updates.

Zenith Exports Announces Trading Window Closure from July 1 for Q1 FY27 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 27 Jun 2026, 11:50 AM

Zenith Exports Limited has informed the stock exchanges that its trading window for dealing in company securities will be closed starting July 1, 2026. This action is taken in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the release of un-audited financial results for the quarter ending June 30, 2026. The window will remain closed for all designated persons, including directors and KMPs, until 48 hours after the results are declared. The specific date for the board meeting to approve these results will be announced at a later date.

Trading window closure commences on July 1, 2026, for the quarter ended June 30, 2026.
Restriction applies to all Directors, KMPs, Designated Employees, and their immediate relatives.
The window will reopen 48 hours after the announcement of the un-audited financial results.
The board meeting date for financial result approval is yet to be intimated to the exchanges.

💡 This is a standard regulatory filing and does not impact the company's fundamentals. Investors should monitor the upcoming board meeting announcement for the actual Q1 financial performance.

Zenith Exports: Promoter Varun Loyalka Confirms No Share Pledges for FY 2023-24

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 15 Jun 2026, 06:54 PM

Varun Loyalka, a member of the promoter group of Zenith Exports Limited, has submitted a formal disclosure under Regulation 31(4) of the SEBI (SAST) Regulations, 2011. The filing confirms that the promoter, along with persons acting in concert (PAC), has not created any encumbrance or pledge on their shareholding during the financial year ended March 31, 2024. This is a routine annual compliance filing that provides transparency regarding the financial health and leverage of the promoter group.

Compliance filing under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Confirmation that zero shares held by the promoter group were pledged or encumbered during the financial year.
The disclosure pertains to the annual period ending March 31, 2024, ensuring no hidden leverage against promoter equity.

💡 No action is required as this is a routine regulatory disclosure confirming the absence of promoter share pledges. Investors should focus on the company's upcoming financial results for operational insights.

Varun Loyalka Files Annual Declaration Under SEBI Takeover Regulations for Zenith Exports

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 03 Jun 2026, 02:41 PM

Varun Loyalka, a member of the promoter group of Zenith Exports Limited, has submitted the annual disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This declaration confirms that the promoter, along with persons acting in concert, has not made any new encumbrance or pledge on their shares during the financial year ending March 31, 2026. This is a routine compliance filing intended to provide transparency regarding promoter shareholding status. The document was digitally signed and submitted on April 7, 2026.

Submission of annual disclosure under Regulation 31(4) of SEBI (SAST) Regulations, 2011.
Confirmation that no new share pledges or encumbrances were created by the promoter group during the fiscal year.
The filing was digitally signed by Varun Loyalka on April 7, 2026, following the close of the financial year.

💡 No immediate action is required as this is a routine regulatory confirmation of the absence of undisclosed promoter pledges. Investors should continue to monitor quarterly shareholding patterns for any material changes.

Zenith Exports Fined ₹7.55 Lakh by BSE and NSE for Board Composition Non-Compliance

🔴 NEGATIVE ⭐ 6/10

REGULATORY 📅 30 May 2026, 12:22 PM

Zenith Exports Limited has been penalized by both the BSE and NSE for non-compliance with SEBI Regulation 17(1) regarding Board composition during the quarter ended March 31, 2026. Each exchange has levied a fine of ₹3,77,600 (including GST), resulting in a total penalty of ₹7,55,200. The company attributed the vacancy to a previous shareholder rejection of an Independent Director appointment and is currently seeking a waiver of the fines. While the financial impact is minimal, continued non-compliance could lead to more severe actions like freezing promoter shares or shifting the stock to the 'Z' category.

Total penalty of ₹7,55,200 imposed by BSE and NSE (₹3,77,600 each) for Q4 FY26 non-compliance.
Violation pertains to SEBI Regulation 17(1) regarding the required composition of the Board of Directors.
Company states the vacancy persists because a prior resolution for an Independent Director was defeated by dissenting shareholders.
Stock exchanges have warned of potential promoter share freezing and 'Z' category shifting for consecutive defaults.
The company is actively seeking suitable candidates and has applied for a waiver of the penalties.

💡 Investors should monitor the company's progress in appointing an Independent Director to ensure it meets regulatory standards and avoids being moved to the 'Z' category. While the fine is not financially material, the governance lapse and shareholder dissent are points of concern.

Zenith Exports Reports Q4 Net Loss of ₹12 Lakhs; Revenue Drops 34% YoY

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 29 May 2026, 04:47 PM

Zenith Exports Limited reported a weak set of numbers for the quarter ended March 31, 2026, posting a net loss of ₹12 lakhs compared to a profit of ₹300 lakhs in the same quarter last year. Total income for the quarter saw a significant decline, falling to ₹1,452 lakhs from ₹2,205 lakhs in Q4 FY25. Despite the quarterly setback, the company remained profitable for the full financial year 2025-26 with a net profit of ₹229 lakhs. Additionally, the board has re-appointed Rohit Jalan & Associates as the Internal Auditor for the 2026-27 fiscal year.

Total Income for Q4 FY26 fell 34% YoY to ₹1,452 lakhs from ₹2,205 lakhs.
Company reported a Net Loss of ₹12 lakhs in Q4 FY26 versus a Net Profit of ₹300 lakhs in Q4 FY25.
Full-year FY26 Net Profit stood at ₹229 lakhs on a total income of ₹6,919 lakhs.
Total Comprehensive Income for the full year was ₹215 lakhs.
Mr. Rohit Jalan re-appointed as Internal Auditor for a one-year term starting April 1, 2026.

💡 Investors should exercise caution as the sharp decline in quarterly revenue and the shift to a net loss indicate operational headwinds. It is advisable to wait for management commentary on export demand and cost pressures before making new positions.

Zenith Exports Appoints Two Independent Directors with 99.99% Shareholder Approval

🟢 POSITIVE ⭐ 5/10

MANAGEMENT 📅 19 May 2026, 01:05 PM

Zenith Exports Limited has successfully passed resolutions to appoint Mrs. Priyanka Poddar and Mrs. Rasna Goyal as Independent Directors via postal ballot. Both appointments received overwhelming support, with 99.9993% of the votes cast in favor. A total of 3,375,418 votes were polled, representing approximately 62.55% of the company's total equity. This move ensures the company remains compliant with SEBI corporate governance regulations regarding board composition.

Appointment of Mrs. Priyanka Poddar as Independent Director approved with 3,375,396 votes in favor.
Appointment of Mrs. Rasna Goyal as Independent Director approved with 99.9993% majority.
Total voter turnout recorded at 62.55% of the total 5,396,250 outstanding shares.
Promoter group voted 100% of their 2,457,556 shares in favor of both resolutions.
Only 22 votes (0.0007%) were cast against the appointments by public non-institutional investors.

💡 Investors should view this as a positive step toward maintaining high standards of corporate governance. No immediate portfolio action is required as these are routine board appointments.

View All ZENITHEXPO Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

In FY 2024-25, the Trading division revenue fell 12.3% to INR 59.41 Cr, while the Weaving division declined 11.3% to INR 9.90 Cr. For H1 FY 2025-26, Industrial Leather Hand Gloves grew 16.4% to INR 26.71 Cr, and EOU Silk Fabrics grew 43.1% to INR 5.54 Cr, though Silk Fabrics/Made-ups fell 11.3% to INR 5.16 Cr.

Geographic Revenue Split

The Export Oriented Unit (EOU) for Silk Fabrics contributed INR 5.54 Cr, representing 14.8% of total revenue in H1 FY 2025-26, up from 11.8% in the previous year's corresponding period.

Profitability Margins

Net profit margin improved significantly from 0.65% in FY 2023-24 to 2.38% in FY 2024-25 (INR 1.72 Cr). In H1 FY 2025-26, the net margin further expanded to 5.99% with a PAT of INR 2.24 Cr compared to a loss of INR 1.96 Cr in H1 FY 2024-25.

EBITDA Margin

EBITDA margin for H1 FY 2025-26 stood at 9.91% (INR 3.71 Cr) compared to 5.64% (INR 4.07 Cr) in FY 2024-25, driven by a reduction in finance costs and improved segment performance in leather gloves.

Capital Expenditure

Historical depreciation of INR 0.82 Cr was recorded in FY 2024-25; however, specific planned capital expenditure for future periods is not disclosed in available documents.

Credit Rating & Borrowing

The company was rated [ICRA]B+ (Stable) / [ICRA]A4 in October 2022, moved to 'Issuer Not Cooperating' category. Total borrowings were reduced by 60.7% from INR 7.76 Cr in March 2025 to INR 3.05 Cr by September 2025.

⚙️ Operational Drivers

Raw Materials

Silk and Leather are the primary raw materials. Cost of materials consumed was INR 14.48 Cr in H1 FY 2025-26, representing 38.7% of total revenue.

Capacity Expansion

The Spinning division (viscose, polyester, and cotton yarn) has been shut down. The company is currently focusing on improving production processes in the Weaving and Leather divisions.

Raw Material Costs

Material costs decreased slightly by 2.7% YoY in H1 FY 2025-26 to INR 14.48 Cr, down from INR 14.88 Cr, despite higher revenue, indicating better procurement or price realization.

Manufacturing Efficiency

The company is investing in improved production processes to enhance margins; however, the Weaving division remains inefficient with a net loss of INR 4.76 Cr in FY 2024-25.

Logistics & Distribution

Not specifically disclosed; included within other expenditure which represents 26.5% of H1 FY 2025-26 revenue.

📈 Strategic Growth

Expected Growth Rate

14.60%

Growth Strategy

Growth will be driven by capturing a larger share of the global industrial gloves market where India's current share is minimal. The company also expects a demand recovery in silk fabrics from the sports, apparel, and home furnishing sectors in FY 2025-26.

Products & Services

Industrial leather hand gloves, silk fabrics, velvet fabrics, and textile made-ups.

Brand Portfolio

Zenith Exports, Zenith Main Division, Zenith Textiles.

New Products/Services

The company is targeting new demand from the sports and home furnishing textile segments for its silk products.

Market Expansion

Focusing on global markets for industrial gloves to leverage the low current market share of Indian exporters.

Market Share & Ranking

Not disclosed; however, the company notes India's global share in industrial gloves is 'very minimal'.

🌍 External Factors

Industry Trends

The industry is seeing a shift with increasing demand from sports and home furnishing sectors. The industrial gloves market is viewed as a high-growth area due to low current global penetration by Indian firms.

Competitive Landscape

The company faces intense competition in the textile and leather sectors, requiring consistent investment in production efficiency.

Competitive Moat

Moat is based on cost leadership through optimization and a long-standing presence in niche silk and leather export markets. Sustainability depends on maintaining competitive pricing against global peers.

Macro Economic Sensitivity

Highly sensitive to global economic developments and changes in international demand for textile and leather products.

Consumer Behavior

Increasing consumer demand for specialized textile products in sports and apparel is driving segment strategy.

Geopolitical Risks

Trade barriers and changes in government policies regarding exports/imports are cited as significant risk factors.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to demand-supply dictated by government policies, tax regimes, and governing laws.

Taxation Policy Impact

The effective tax rate for H1 FY 2025-26 was approximately 25.8%, with a tax expense of INR 0.78 Cr on a PBT of INR 3.02 Cr.

Legal Contingencies

The company identifies litigation and labor negotiations as potential risk factors, though no specific pending case values are disclosed.

⚠️ Risk Analysis

Key Uncertainties

Volatility in raw material prices (silk/leather) and global economic instability could impact revenue by over 10-15% based on historical turnover fluctuations.