Konark Synthetic News

Konark Synthetic Reports Net Loss of Rs 10.95 Lakhs for Quarter Ended September 2025

Konark Synthetic Limited posted a net loss of Rs 10.95 lakhs for the quarter ended September 30, 2025, compared to a loss of Rs 4.93 lakhs in the previous quarter, with revenue from operations declining to Rs 1,230.08 lakhs. The company faces significant financial risks from a Rs 2,706 lakhs corporate guarantee for subsidiary India Denim Limited, which is under insolvency proceedings, and has outstanding receivables of Rs 533.39 lakhs from Mudra Denims Private Limited with minimal recovery prospects.

Konark Synthetic Reports Loss of Rs 308.28 Lakhs for Q1 FY2026, Re-appoints Managing Director

Konark Synthetic Limited reported a net loss of Rs 308.28 lakhs for the quarter ended June 30, 2025, compared to a loss of Rs 0.95 lakhs in the same period last year. Revenue from operations declined to Rs 1,230.08 lakhs from Rs 4,673.56 lakhs year-on-year. The Board approved the re-appointment of Mr. Shonit Prakashchand Dalmia as Managing Director for three years from August 14, 2025, subject to shareholder approval. The company did not prepare consolidated results due to cessation of associate Konark Infratech Private Limited and ongoing insolvency proceedings of subsidiary India Denim Limited. Auditors highlighted concerns over trade receivables of Rs 711.18 lakhs from Mudra Denims Private Limited and Rs 93.47 lakhs from Shubhlakshmi Polyester Limited, along with corporate guarantees of Rs 2,706 lakhs for the subsidiary under insolvency proceedings.