BSE Code: 531456
Date: February 1, 2025
Financial Highlights (Q3 FY2025 vs. Q3 FY2024)
Minaxi Textiles Ltd. has reported its unaudited financial results for the quarter ended December 31, 2024. The financials were approved by the Board of Directors and reviewed by the Audit Committee.| Particulars | Q3 FY2025 (₹ in Lakhs) | Q2 FY2025 (₹ in Lakhs) | Q3 FY2024 (₹ in Lakhs) | 9M FY2025 (₹ in Lakhs) | 9M FY2024 (₹ in Lakhs) | FY2024 (₹ in Lakhs) (Audited) |
|---|---|---|---|---|---|---|
| Revenue from Operations | 592.17 | 781.04 | 756.13 | 2,269.23 | 2,547.86 | 3,429.02 |
| Total Income | 592.20 | 836.03 | 756.13 | 2,326.16 | 2,630.23 | 3,512.97 |
| Total Expenses | 651.57 | 821.84 | 991.18 | 2,490.41 | 2,805.54 | 3,897.10 |
| Profit/(Loss) Before Tax | (59.37) | 14.19 | (235.05) | (164.25) | (175.31) | (384.13) |
| Net Profit/(Loss) for the Period | (44.54) | 16.35 | (176.15) | (123.78) | (146.62) | (311.15) |
| EPS (Basic & Diluted) | (0.09) | 0.03 | (0.36) | (0.25) | (0.30) | (0.63) |
Key Observations & Management Commentary
- Revenue Decline: The company's revenue fell to ₹592.17 lakh in Q3 FY2025, marking a 24.2% QoQ declinefrom ₹781.04 lakh in Q2 FY2025 and a 21.7% YoY drop from ₹756.13 lakh in Q3 FY2024.
- Net Loss Reduction: Despite lower revenue, net loss narrowed significantly from ₹176.15 lakh in Q3 FY2024 to ₹44.54 lakh in Q3 FY2025, indicating a 74.7% YoY improvement.
- Restructuring of Borrowings: The company has executed a restructuring of its overall borrowings, which is expected to substantially reduce interest outflows in the future.
- Unclaimed Shares: As of February 1, 2025, Minaxi Textiles Ltd. has 12,74,600 shares remaining in its "Unclaimed Suspense Account," reflecting a gradual transfer of shares to claimants over previous years.
Audit Review & Going Concern Assumptions
- The statutory auditors, Parth R. Shah & Co., conducted a limited review and did not identify any material misstatements in the unaudited financial results.
- The financials were prepared on a going concern basis, supported by restructuring efforts and anticipated operational improvements.
Regulatory Compliance
- The Board reviewed compliance with SEBI (LODR) Regulations, 2015, including legal compliance systems.
- The company remains in adherence to SEBI’s corporate governance and disclosure norms.