Integrated Filing — IndAS



General information about company

Scrip Code 000000
NSE Symbol LAXMICOT
MSEI Symbol NOTLISTED
ISIN INE801V01019
Name of company LAXMI COTSPIN LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 22-05-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 13-05-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Fourth quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Single segment
Description of single segment Cotton and Yarn
Start date and time of board meeting 22-05-2026   17:00:00
End date and time of board meeting 22-05-2026   17:30:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-01-2026 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 1,727.53 15,067.21
Other income 107.86 337.37
Total income 1,835.39 15,404.58
2 Expenses
(a) Cost of materials consumed 1,204.65 12,561.18
(b) Purchases of stock-in-trade 0.00 0.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 55.81 257.27
(d) Employee benefit expense 165.84 741.82
(e) Finance costs 95.39 388.29
(f) Depreciation, depletion and amortisation expense 55.90 218.28
(f) Other Expenses
1 Other Expenses 458.07 1,428.54
Total other expenses 458.07 1,428.54
Total expenses 2,035.66 15,595.38
3 Total profit before exceptional items and tax (200.27) (190.80)
4 Exceptional items 0.00 119.65
5 Total profit before tax (200.27) (71.15)
6 Tax expense
7 Current tax 0.00 0.00
8 Deferred tax (56.65) 48.91
9 Total tax expenses (56.65) 48.91
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations (143.62) (120.06)
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0.00 0.00
16 Total profit (loss) for period (143.62) (120.06)
17 Other comprehensive income net of taxes 2.20 2.20
18 Total Comprehensive Income for the period (141.42) (117.86)
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 0.00 0.00
Total profit or loss, attributable to non-controlling interests 0.00 0.00
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 0.00 0.00
Total comprehensive income for the period attributable to owners of parent non-controlling interests 0.00 0.00
21 Details of equity share capital
Paid-up equity share capital 1,714.77 1,714.77
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve 3,151.23
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations -1.17 -1.11
Diluted earnings (loss) per share from continuing operations -1.17 -1.11
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations -1.17 -1.11
Diluted earnings (loss) per share from continuing and discontinued operations -1.17 -1.11
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025
Date of end of reporting period 31-03-2026
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 4,238.98
Capital work-in-progress 201.43
Investment property 0.00
Goodwill 0.00
Other intangible assets 0.00
Intangible assets under development 0.00
Biological assets other than bearer plants 0.00
Investments accounted for using equity method 0.00
Non-current financial assets
Non-current investments 0.00
Trade receivables, non-current 0.00
Loans, non-current 0.00
Other non-current financial assets
1 Other financial Asset 274.17
Total of other non-current financial assets 274.17
Total non-current financial assets 274.17
Deferred tax assets (net) 6.22
Other non-current assets
Total of other non-current assets
Total non-current assets 4,720.80
2 Current assets
Inventories 4,333.79
Current financial asset
Current investments 0.00
Trade receivables, current 189.38
Cash and cash equivalents 32.40
Bank balance other than cash and cash equivalents 0.00
Loans, current 0.00
Other current financial assets
Total of other current financial assets
Total current financial assets 221.78
Current tax assets (net) 0.00
Other current assets
1 Other current assets 1,879.55
Total of other current assets 1,879.55
Total current assets 6,435.12
3 Non-current assets classified as held for sale 0.00
4 Regulatory deferral account debit balances and related deferred tax Assets 0.00
Total assets 11,155.92
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 1,714.77
Other equity 4,365.83
Total equity attributable to owners of parent 6,080.60
Non controlling interest 0.00
Total equity 6,080.60
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 416.04
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0.00
Total Trade payable 0.00
Other non-current financial liabilities
Total of other non-current financial liabilities
Total non-current financial liabilities 416.04
Provisions, non-current 47.62
Deferred tax liabilities (net) 0.00
Deferred government grants, Non-current 0.00
Other non-current liabilities
Total of other non-current liabilities
Total non-current liabilities 463.66
Current liabilities
Current financial liabilities
Borrowings, current 3,851.47
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 186.26
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 392.84
Total Trade payable 579.10
Other current financial liabilities
Total of other current financial liabilities
Total current financial liabilities 4,430.57
Other current liabilities 172.94
1 Other current liabilities 172.94
Total of other current liabilities 172.94
Provisions, current 8.15
Current tax liabilities (Net) 0.00
Deferred government grants, Current 0.00
Total current liabilities 4,611.66
3 Liabilities directly associated with assets in disposal group classified as held for sale 0.00
4 Regulatory deferral account credit balances and related deferred tax liability 0.00
Total liabilities 5,075.32
Total equity and liabilites 11,155.92
Disclosure of notes on assets and liabilities



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-01-2026 01-04-2025
Date of end of reporting period 31-03-2026 31-03-2026
Whether results are audited or unaudited Audited Audited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-01-2026 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Remeasurement of defined benefit obligation 2.20 2.20
Total Amount of items that will not be reclassified to profit and loss 2.20 2.20
2 Income tax relating to items that will not be reclassified to profit or loss 0.00 0.00
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss 0.00 0.00
5 Total Other comprehensive income 2.20 2.20



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2025
B Date of end of reporting period 31-03-2026
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Consolidated
Statement of cash flows
Cash flows from used in operating activities
Profit before tax (71.15)
Adjustments for reconcile profit (loss)
Adjustments for finance costs 0.00
Adjustments for decrease (increase) in inventories 224.82
Adjustments for decrease (increase) in trade receivables, current 142.79
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets 0.00
Adjustments for decrease (increase) in other non-current assets 0.00
Adjustments for other financial assets, non-current 0.00
Adjustments for other financial assets, current 339.31
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current (100.65)
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities (81.34)
Adjustments for increase (decrease) in other non-current liabilities 0.00
Adjustments for depreciation and amortisation expense 218.28
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0.00
Adjustments for provisions, current 0.08
Adjustments for provisions, non-current 9.46
Adjustments for other financial liabilities, current 0.00
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains 0.00
Adjustments for dividend income 0.00
Adjustments for interest income 0.00
Adjustments for share-based payments 0.00
Adjustments for fair value losses (gains) 0.00
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow 0.00
Other adjustments to reconcile profit (loss) (454.81)
Other adjustments for non-cash items 0.00
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) 297.94
Net cash flows from (used in) operations 226.79
Dividends received 0.00
Interest paid (388.29)
Interest received 0.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities 615.08
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 0.00
Other cash receipts from sales of equity or debt instruments of other entities 0.00
Other cash payments to acquire equity or debt instruments of other entities 0.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 322.84
Purchase of property, plant and equipment 0.00
Proceeds from sales of investment property 0.00
Purchase of investment property 0.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 0.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 324.77
Cash advances and loans made to other parties 0.00
Cash receipts from repayment of advances and loans made to other parties 0.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 0.00
Interest received 0.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash (15.58)
Net cash flows from (used in) investing activities (17.51)
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 0.00
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 0.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings (162.98)
Repayments of borrowings 245.31
Payments of lease liabilities 0.00
Dividends paid 0.00
Interest paid 388.29
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 161.32
Net cash flows from (used in) financing activities (635.26)
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes (37.69)
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0.00
Net increase (decrease) in cash and cash equivalents (37.69)
Cash and cash equivalents cash flow statement at beginning of period 70.09
Cash and cash equivalents cash flow statement at end of period 32.40





Details of Impact of Audit Qualification

Amount in (Lakhs)

Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification
Auditor's opinion Qualified opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 DMKH & Co. Yes 30-04-2027


Financial details

Amount in (Lakhs)

Sr. Particulars Audited Figures (as reported before adjusting for qualifications) Adjusted Figures (audited figures after adjusting for qualifications)
1 Turnover / Total income 15,404.58 15,404.58
2 Total Expenditure 15,595.38 15,595.38
3 Net Profit/(Loss) (120.06) (120.06)
4 Earnings Per Share -0.72 -0.72
5 Total Assets 11,155.92 11,155.92
6 Total Liabilities 11,155.92 11,155.92
7 Net Worth 6,080.60 6,080.60


Audit qualification

Amount in (Lakhs)

Sr. Details of Audit Qualification Type of Audit Qualification Frequency of qualification For Audit Qualification(s) where the impact is quantified by the auditor For Audit Qualification(s) where the impact is not quantified by the auditor
Management's Views (i) Management's estimation on the impact of audit qualification (ii) If management is unable to estimate the impact, reasons for the same Auditors' Comments on (i) or (ii) above
1 Textual Information(1) Qualified opinion Whether appeared first time Textual Information(2) Textual Information(3) Textual Information(4) Textual Information(5)
2 Textual Information(6) Qualified opinion Whether appeared first time Textual Information(7) Textual Information(8) Textual Information(9) Textual Information(10)
3 Textual Information(11) Qualified opinion Whether appeared first time Textual Information(12) Textual Information(13) Textual Information(14) Textual Information(15)
4 Textual Information(16) Qualified opinion Whether appeared first time Textual Information(17) Textual Information(18) Textual Information(19) Textual Information(20)
5 Textual Information(21) Qualified opinion Whether appeared first time Textual Information(22) Textual Information(23) Textual Information(24) Textual Information(25)


Text Block

Textual Information(1) In the absence of proper inventory records and supporting documentation, we are unable to ascertain the correctness of the quantity, condition, and valuation of inventory as of March 31, 2026. As informed to us, the inventory has been valued by Management based on estimates and approximations. Consequently, we are unable to determine the impact on the cost of goods sold, loss for the period, closing inventory, and related disclosures in the Statement.
Textual Information(2) Not Ascertainable
Textual Information(3) Not Ascertainable
Textual Information(4) The value of inventory of approximately 30,000 kgs cotton bales identified as mutilated have already been considered and valued at 37% lower at the cost. Thus there is no financial impact. The management is in the process of identifying any further mutilated bales by re-stacking the stock.
Textual Information(5) Inventory_ The Management's contention that mutilated stock of approximately 30,000 kgs has been valued at a 37% discount to cost, resulting in no financial impact, is not satisfactory, weighment/quality inspection records, basis of arriving at the 37% discount, or working reconciling such adjustment with the inventory records and valuation as at March 31, 2026. In the absence of proper inventory records and any documentary evidence substantiating the quantity, condition and basis of valuation, the Auditors are unable to place reliance on this unsubstantiated assertion. The matter continues to remain unresolved and the qualification as stated in the Audit Report on the Standalone Financial Statements continues to subsist. - not satisfactory of deriving 37%
Textual Information(6) During the period, the Company has advanced loan to its wholly owned subsidiary Laxmi Spintex Private Limited. However, the Company has not taken board approval and has not complied with certain statutory requirements relating to the said advance, as required under applicable provisions of the Companies Act, 2013 and Rules thereunder. In the absence of the above compliances and supporting documentation, we are unable to comment on the completeness, appropriateness, and regulatory compliance of the said advance, as well as any consequential financial impact arising therefrom.
Textual Information(7) Not Ascertainable
Textual Information(8) Not Ascertainable
Textual Information(9) Advance given to subsidiary have been squared off during the financial year and there is no outstanding advance balance as on the date of balance sheet, thus no board resolution taken. The management will ratify this in the next meeting. There is no financial impact of the same.
Textual Information(10) 2. Advance to wholly owned subsidiary_ The Management's response confirms that no prior board approval was obtained at the time the advance was extended to Laxmi Spintex Private Limited, which is a non-compliance with the applicable provisions of the Companies Act, 2013 including Section 186 and Rules thereunder as they stood at the relevant time. The subsequent squaring-off of the balance, even if factually correct, does not retrospectively cure the non-compliance that existed during the year, nor does it establish the terms, purpose, rate of interest and regulatory compliance applicable to the advance When it was outstanding. No loan/advance agreement, board minutes, ledger extract orconfirmation from the subsidiary evidencing the grant and subsequent square-off of the advance was provided to the Auditors. A proposal to ratify the matter at a future meeting is a remedial step for the future and does not address the compliance status as at the balance sheet date. Accordingly, the qualification continues to subsist.
Textual Information(11) The Company has given a significant advance to one of the creditors. Based on available information reviewed by us, there are indicators of financial stress relating to entities connected with the said creditor, creating uncertainty regarding the end-use and recoverability of the advance. No provision or impairment has been evaluated or recognized in accordance with Ind AS 109. In the absence of adequate evidence, we are unable to determine the accuracy of the carrying amount of this advance and its possible impact on the accompanying Statement.
Textual Information(12) Not Ascertainable
Textual Information(13) Not Ascertainable
Textual Information(14) The advance given to one of the creditors is in the process of recovery by the management. In case of non-recovery the legal recovery process will be initiated. Balance confirmation by the party is already on record. There is no financial impact of the same.
Textual Information(15) 3. Advance to creditor Any assessment of impairment/expected credit loss under Ind AS n109 in respect of this advance, nor any evidence regarding the financial position of the creditor or entities connected with it, was made available to the Auditors during the audit. The Management's assertion that recovery is in process and that confirmation is already on record. In the absence of adequate evidence, the Auditors are unable to determine the recoverability and carrying value of the advance, and the qualification continues to subsist.
Textual Information(16) During the previous financial year, the Company recorded the sale of land to its subsidiary, Laxmi Spintex Private Limited. However, we observe that as of March 31, 2026, the legal formalities for the registration of the sale deed have not been completed. In the absence of a registered sale deed and the consequent transfer of legal title, we are unable to obtain sufficient appropriate evidence to conclude whether the transaction of land sale has taken place or whether the risks and rewards of ownership have been effectively transferred to the subsidiary. Further, the Company has also not considered reversal of the aforesaid land sale transaction in the books of account pending completion of the legal transfer formalities.
Textual Information(17) Not Ascertainable
Textual Information(18) Not Ascertainable
Textual Information(19) The company has handed over the possession of land to Laxmi Spintex Private Limited. However the State Government revenue department formalities and stamp duty exemption certificate is awaited. Once the certificate is received the Land sale registration formalities will be carried out. There is no financial impact of the same.
Textual Information(20) 4. Sale of land to subsidiary_ Mere handing over of physical possession, in the absence of a nregistered sale deed and consequent transfer of legal title, does not by itself constitute completion of a sale of immovable property or satisfy the recognition criteria for transfer of control under the applicable accounting framework. However, we observed that as of 31st March 2026, the legal formalities for the registration of the sale deed have not been completed.
Textual Information(21) The Company has not assessed and recognized Expected Credit Loss ECL provision on trade receivables outstanding for a period exceeding three years, as required under Ind AS 109 – Financial Instruments. In the absence of adequate assessment and provision for ECL, we are unable to determine the impact, on the carrying value of trade receivables, profit/loss for the year and other related disclosures in the financial statements.
Textual Information(22) Not Ascertainable
Textual Information(23) Not Ascertainable
Textual Information(24) ECL Provision not done. Financial impact-Not ascertainable.
Textual Information(25) 5. Expected Credit Loss on trade receivables_ The Auditors confirm that the non-provision of ECL has understated expenses and overstated trade receivables and net worth to that extent, and the qualification continues to subsist to this extent. nIn view of the above, and in the absence of supporting documents, workings and audit evidence which were called for but not provided by the Management during the course of the audit, the Auditors do not concur with the Managements responses set out in ii above and reaffirm the Qualified Opinion expressed in the Independent Auditors Report on the Standalone Financial Results of the Company for the year ended March 31, 2026.


Signatories detail

Name of CEO / Managing director Sanjay Rathi
Name of CFO Anupkumar Gindodiya
Name of audit committee chairman Gopal Mundada
Name of statutory auditor CA Manish Kankani
Name of other signatory, if any, with designation
Place Jalna
Date 22-05-2026