Gokak Textiles Ltd

Closure and sale update

• Board approves permanent closure and sale of knitwear unit at Marihal on an as-is basis.
• Sale consideration Rs 19.50 crore to M/s V. G. Parekh & Co.
• Plant located on freehold land of 15.65 acres at Bagalkot Road, Marihal, Belagavi.
• FY25-26 knitwear turnover Rs 4.23 crore (9.76% of total revenue).
• Knitwear unit net worth negative Rs 41.93 crore, 21.58% of company net worth.
• Closure targeted October 2026; subject to regulatory approvals including Labour authorities.
• Sale of land/building/machinery to be on as-is, where-is basis.
• Sale outside Scheme of Arrangement; will comply with Regulation 37A of LODR.
• Completion date previously set January 2026 postponed by three months.
• Initial sale agreement signed September 9, 2025.

Financial results

• Unaudited standalone and consolidated Q1 2026 results approved; quarter ended June 30, 2026.
• Limited Review Report by Batliboi & Purohit attached.

Knitwear unit closure and sale

• Board approved permanent closure and sale of knitwear unit at Marihal, Karnataka, subject to regulatory approvals.
• Sale agreement signed Sept 9, 2025 for Rs 19.50 crore with M/s V. G. Parekh & Co.
• Knitwear unit land of 15.65 acres; cutting and stitching facilities retained.
• FY2025-26 knitwear turnover Rs 422.73 lakhs (9.76% of revenue).
• As of 31 March 2026, knitwear net worth negative Rs 4,192.55 lakhs (21.58% of net worth).
• Expected completion of sale/disposal: October 2026.
• Sale outside Scheme of Arrangement; requires compliance with Regulation 37A.
• Transaction not related party; arm's length; not with promoter.
• Land, building, and plant & machinery to be sold on an as-is basis.
• Earlier August 2025 board resolution approved sale of land, building and machinery.
• Sale agreement signed September 2025; intimation to BSE on Sept 9, 2025.

Meeting Details

• Board meeting on Aug 11, 2026; time and location not disclosed.

Key Agenda Items

• Approval of unaudited standalone and consolidated results for quarter ended June 30, 2026, with Limited Review Report.

Other Notes

• Trading window closed for 48 hours after results become generally available.

Dematerialisation status

• Dematerialisation requests processed and reported to depositories.
• Securities dematerialised listed on exchanges where prior issues are listed.
• Certificates for dematerialisation mutilated and cancelled after verification; depository's name substituted as registered owner.

Financial Results

• Approved unaudited standalone and consolidated financial results for Q3 and nine months ended December 31, 2025.
• Limited Review Report by statutory auditors Batliboi & Purohit was reviewed and noted.