LAXMICOT2026-01-012026-03-31LAXMICOT2026-03-31LAXMICOT2025-03-31LAXMICOT2025-04-012026-03-31LAXMICOT2026-01-012026-03-31in-capmkt:OtherExpenses1MemberLAXMICOT2025-04-012026-03-31in-capmkt:OtherExpenses1MemberLAXMICOT2026-03-31OtherNoncurrentFinancialAssetsDomain1LAXMICOT2026-03-31OtherCurrentAssetsDomain1LAXMICOT2026-03-31OtherCurrentLiabilitiesDomain1LAXMICOT2026-01-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss1LAXMICOT2025-04-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss1LAXMICOT2026-01-012026-03-31AuditorDomain1LAXMICOT2026-01-012026-03-31in-capmkt:AuditedMemberLAXMICOT2026-03-31in-capmkt:AuditedMemberLAXMICOT2026-01-012026-03-31in-capmkt:AdjustedMemberLAXMICOT2026-03-31in-capmkt:AdjustedMemberLAXMICOT2026-01-012026-03-31AuditQualification1LAXMICOT2026-01-012026-03-31AuditQualification2LAXMICOT2026-01-012026-03-31AuditQualification3LAXMICOT2026-01-012026-03-31AuditQualification4LAXMICOT2026-01-012026-03-31AuditQualification5iso4217:INRiso4217:INRxbrli:shares000000LAXMICOTNOTLISTEDINE801V01019LAXMI COTSPIN LIMITEDMain BoardEquity2025-04-012026-03-312026-05-222026-05-13INRLakhsQuarterlyFourth quarterSingle segmentCotton and Yarn2026-05-2217:00:002026-05-2217:30:00trueCash Flow IndirectStatement on impact of audit qualification2026-01-012026-03-31AuditedConsolidated1727530001078600018353900012046500005581000165840009539000559000045807000203566000-200270000-200270000-5665000-56650000-143620000000-14362000220000-14142000000017147700010-1.17-1.1700-1.17-1.172025-04-012026-03-31AuditedConsolidated150672100033737000154045800012561180000257270007418200038829000218280001428540001559538000-1908000011965000-71150000489100048910000-120060000000-12006000220000-11786000000017147700010315123000-1.11-1.1100-1.11-1.11Other Expenses45807000Other Expenses14285400042389800020143000000000000274170002741700062200047208000043337900001893800032400000022178000018795500064351200000111559200017147700043658300060806000006080600004160400000041604000476200000463660003851470001862600039284000579100004430570001729400081500000461166000005075320001115592000Other financial Asset27417000Other current assets187955000Other current liabilities17294000022482000142790000000339310000-100650000-813400002182800008000946000000000000-454810000029794000226790000-388290000006150800000000000322840000000000000000324770000000000-1558000-175100000000000-16298000245310000038829000016132000-63526000-37690000-376900070090003240000Remeasurement of defined benefit obligation220000220000Remeasurement of defined benefit obligation2200002200000000220000220000AuditedQualified opinionDMKH & Co.true2027-04-301540458000154045800015595380001559538000-12006000-12006000-0.72-0.721115592000111559200011155920001115592000608060000608060000In 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.Qualified opinionWhether appeared first timeNot AscertainableNot AscertainableThe 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.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%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.Qualified opinionWhether appeared first timeNot AscertainableNot AscertainableAdvance 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.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.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.Qualified opinionWhether appeared first timeNot AscertainableNot AscertainableThe 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.3. Advance to creditor Any assessment of impairment/expected credit loss under Ind AS <br /> 109 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.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.Qualified opinionWhether appeared first timeNot AscertainableNot Ascertainable 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.4. Sale of land to subsidiary_ Mere handing over of physical possession, in the absence of a <br /> registered 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.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.Qualified opinionWhether appeared first timeNot AscertainableNot AscertainableECL Provision not done. Financial impact-Not ascertainable.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. <br /> In 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.Sanjay RathiAnupkumar GindodiyaGopal MundadaCA Manish KankaniJalna2026-05-22