Gokak Textiles News

Gokak Textiles Q3FY26 Loss Widens to Rs 607.30 Lakhs

Gokak Textiles reported a net loss of Rs 607.30 lakhs for Q3FY26, with revenue declining to Rs 1,809.79 lakhs. Nine-month losses reached Rs 3,210.84 lakhs despite exceptional income of Rs 270.54 lakhs from insurance claims.

Gokak Textiles Delays Plant Sale by Three Months

Gokak Textiles postpones sale of its knitwear manufacturing plant in Karnataka to April 2026 due to process delays. The Rs. 19.50 crore deal was originally scheduled for January 2026 completion.

Gokak Textiles Reports Rs 2,604 Crore Loss for Half-Year, Faces Going Concern Issues

Gokak Textiles Limited reported a net loss of Rs 2,603.53 lakhs for the half-year ended September 30, 2025, with current liabilities exceeding current assets by Rs 6,067.74 lakhs and fully eroded net worth. The company's textile division faces operational slowdown and financial difficulties, while its solar power plant experienced multiple fire incidents and transformer failures, though it received Rs 600 crore perpetual loan support from Shapoorji Pallonji Group.

Gokak Textiles to sell Knitwear Plant for Rs. 19.50 Crores to V.G. Parekh & Co

Gokak Textiles Limited has agreed to sell its knitwear manufacturing plant located at Bagalkot Road, Village Marihal, District Belagavi, Karnataka to M/s V. G. Parekh & Co for Rs. 19.50 Crores. The plant, established in 1995 on 15.65 acres of freehold land, was valued at Rs. 21.49 Crores as of May 15, 2025. The knitwear business contributed Rs. 505.47 lakhs (5.17%) to total revenue in FY 2024-2025 but had a negative net worth of Rs. 4,115.21 lakhs. The Board cited declining performance over recent years as the reason for the sale. The company has shifted specialized machinery to its Mills Division in Gokak Falls, with only cutting and stitching operations remaining at the Marihal plant. The transaction is expected to complete by January 2026 and requires shareholder approval through postal ballot. The buyer, V.G. Parekh & Co, is a real estate development company based in Karnataka and is not related to the promoter group.