Patspin India News

Patspin India Q3FY26 Loss Widens to ₹321 Lakhs

Patspin India reported a net loss of ₹321 lakhs for Q3FY26, wider than ₹276 lakhs in Q3FY25. Revenue declined to ₹1,100 lakhs from ₹1,078 lakhs year-on-year amid ongoing operational challenges.

Patspin India Reports ₹19.48 Cr Default on Bank Loans

Patspin India Ltd disclosed defaults totaling ₹19.48 crores on loans from three banks as of December 31, 2025, comprising ₹13.33 crores in principal and ₹6.14 crores in interest.

Patspin India Reports Net Loss of Rs 303 Lakhs in Q2, Seeks Debt Restructuring

Patspin India Limited reported a net loss of Rs 303 lakhs for the quarter ended September 30, 2025, compared to Rs 217 lakhs loss in the previous quarter. Revenue from operations increased to Rs 384 lakhs from Rs 143 lakhs in the prior quarter. For the half-year period, the company posted a net loss of Rs 539 lakhs with revenues of Rs 527 lakhs. The company's net worth has eroded and its accounts with lenders were classified as sub-standard due to irregular debt servicing. Patspin has submitted a new resolution plan to lenders for debt restructuring, including moratorium on interest and installment payments, interest rate reduction, and fresh working capital facility. Banks have conducted a Technical Economic Viability study confirming the restructuring proposal's viability. The company plans to resume own manufacturing of cotton yarn to improve EBITDA levels and debt servicing capabilities.

Patspin India Appoints Umang Patodia as Chairman, Reappoints Independent Director

Patspin India Limited appointed Shri Umang Patodia, the Managing Director, as Chairman of the Board effective August 6, 2025, for a five-year term, replacing Shri B.K. Patodia. Umang Patodia has been with the GTN Group for 36 years since joining in 1989 and is the elder son of B.K. Patodia. The company also approved the re-appointment of Shri C.K. Gopalakrishnan Nair as Non-Executive Independent Director for a second consecutive five-year term, from the conclusion of the upcoming Annual General Meeting to the conclusion of the 39th AGM. Nair is a Textile Engineer with over 35 years of professional experience in senior positions within the textile industry and 10 years as Managing Director of public sector companies including Malappuram Co Operative Spinning Mills, Sitaram Textiles, and Kerala State Textiles Corporation.

Patspin India Reports Q1 Loss, Announces Leadership Transition as B.K. Patodia Retires

Patspin India Limited reported a net loss of Rs 236 lakhs for the quarter ended June 30, 2025, compared to Rs 237 lakhs loss in the same period last year. Revenue from operations declined to Rs 1,119 lakhs from Rs 1,365 lakhs year-over-year. The company announced significant leadership changes with B.K. Patodia retiring as Non-Executive Director and Chairman due to advancing age and health concerns, while being appointed as Chairman Emeritus. Umang Patodia, the Managing Director and B.K. Patodia's elder son, has been promoted to Chairman effective August 6, 2025. Additionally, V.N. Balakrishnan resigned as Non-Executive Independent Director citing age and personal reasons. The company continues to face liquidity challenges due to absence of working capital facilities pending debt restructuring, currently operating only job work activities where revenues cover variable costs. Patspin has submitted a new resolution plan to lenders for debt restructuring with moratorium on interest payments and fresh working capital facility, with bankers conducting a TEV study that confirmed proposal viability.