Meyer Apparel Ltd

Financial results approved

• Unaudited quarterly results for the quarter ended June 30, 2026, with Limited Review Report attached.

Going concern and auditor remarks

• Quarter ended June 30, 2026: loss Rs 70.33 lakh; accumulated losses Rs 6,366.45 lakh.
• Erosion of net worth and current liabilities exceeding current assets by Rs 3,426.16 lakh.
• Management expects to generate cash flows and explore other funding avenues.
• Auditors state going-concern; conclusion not modified.

Dematerialisation status

• No physical share certificates received for dematerialisation during the period.

AGM Details

• Date/time: 9 July 2026, 12:30 PM IST; mode: VC/OAVM.
• Start time: 12:30 PM IST; End time: 1:00 PM IST.
• Record date: 3 July 2026.
• Remote e-voting: 5–8 July 2026, 9:00 AM–5:00 PM IST; voting during AGM for 15 minutes.
• On-record shareholders: 8,316; attendees via VC: 5 promoters, 48 public.

Resolutions & outcomes

• Resolution 1 (Ordinary): Adopt audited financials; 99.998% in favour; passed.
• Resolution 2 (Ordinary): Re-appoint Kakra as Non-Executive Director; 99.998% in favour; passed.
• Resolution 3 (Ordinary): Re-appoint Sharma as Whole-Time Director; 99.998% in favour; passed.
• Resolution 4 (Special): Increase Borrowing Limits; 99.998% in favour; passed.
• Resolution 5 (Special): Avail inter-Corporate loans from Promoters/Directors; 99.866% in favour; passed.
• Resolution 6 (Special): Approve Related Party Transactions; 99.998% in favour; passed.

AGM Details

• AGM held in July 2026 via VC/OAVM.

Resolutions Presented

• Ordinary: Adoption of audited standalone financial statements for the financial year.
• Ordinary: Re-appointment of Pawan Kakra as non-executive director, liable to retire by rotation.
• Special: Re-appointment of Gajender Kumar Sharma as Whole Time Director.
• Special: Increase borrowing limits of the company.
• Special: Availing inter-corporate loans from promoters and/or directors.
• Special: Approval of related party transactions.

Dividend

• Directors did not recommend any dividend for the year.

Directors & Appointments

• Re-appointment of Pawan Kakra as Non-Executive Director.
• Re-appointment of Gajender Kumar Sharma as Whole Time Director.

Auditors

• No auditor changes disclosed at the AGM.

Financial Highlights

• Revenue declined year over year; net loss narrowed.
• Company exploring e-commerce and other avenues to diversify revenue.

Voting results

• Combined voting results to be announced and displayed on the company website and exchanges.

Book closure

• Book closure: July 04, 2026 to July 09, 2026, both days inclusive.
• Purpose: 33rd Annual General Meeting.

AGM and voting

• AGM date: July 09, 2026 at 12:30 P.M. via video conferencing.
• Cut-off date: July 03, 2026 for AGM voting eligibility.
• Remote e-voting: July 05, 2026, 9:00 a.m. to July 08, 2026, 5:00 p.m.

Security

• Security affected: equity shares of Meyer Apparel Limited.

FY26 results

• 📊 Revenue from operations fell to Rs 8.70 lakh in FY26 from Rs 120.25 lakh.
• 📊 Total income declined to Rs 8.83 lakh in FY26 from Rs 128.27 lakh.
• 📊 FY26 loss before tax was Rs 78.80 lakh versus Rs 106.88 lakh in FY25.
• 📊 FY26 net loss was Rs 78.80 lakh, with basic EPS at Rs (0.10).
• 📊 Employee costs were Rs 38.02 lakh in FY26, down from Rs 41.94 lakh.
• 📊 Other expenses were Rs 35.98 lakh in FY26, down from Rs 82.92 lakh.

Quarterly performance

• 📊 Q4 FY26 revenue from operations was negative Rs 0.08 lakh.
• 📊 Q4 FY26 total income was negative Rs 0.04 lakh.
• 📊 Q4 FY26 loss before tax was Rs 24.20 lakh versus Rs 23.00 lakh last year.
• 📊 Q4 FY26 employee costs were Rs 13.13 lakh, up from Rs 10.06 lakh.
• 📊 Q4 FY26 other expenses were Rs 8.95 lakh, broadly flat versus Rs 18.52 lakh.

Balance sheet and cash

• 📊 Total assets were Rs 70.60 lakh at March 31, 2026, versus Rs 65.78 lakh.
• 📊 Cash and cash equivalents were Rs 2.05 lakh at March 31, 2026.
• 📊 Current liabilities were Rs 3,423.55 lakh, exceeding current assets of Rs 67.45 lakh.
• 📊 Net worth remained negative at Rs 3,356.45 lakh.
• 📊 Operating cash outflow was Rs 64.87 lakh in FY26.

Going concern

• ⚠️ Auditors highlighted material uncertainty related to going concern.
• ⚠️ Accumulated losses reached Rs 6,296.12 lakh at March 31, 2026.
• ⚠️ Management said it is confident of generating cash flows from continued operations.

Audit and capital

• 📍 Statutory auditors issued an unmodified opinion on the standalone FY26 results.
• 📍 Paid-up equity share capital was Rs 2,426.67 lakh.
• 📍 Outstanding qualified borrowings were NIL at the start and end of FY26.

Business

• Meyer Apparel wholesales and retails men's suits and trousers.
• The company operates as a single business segment in India.

Financial results

• Approved audited standalone financial results for quarter and year ended 31 March 2026.
• Approved the statutory auditor's report on the audited standalone results.
• Reported quarterly revenue from operations of Rs. 0.08 lakh loss and annual revenue of Rs. 8.70 lakh.
• Reported annual net loss of Rs. 78.80 lakh and negative net worth of Rs. 3,356.45 lakh.

Board decisions

• Approved increasing borrowing limit up to Rs. 2.75 crore, subject to shareholder approval.
• Approved availing inter-corporate loans or loans from promoters and/or directors.

Auditor remarks

• Auditor issued an unmodified opinion on the audited standalone financial results.
• Auditor highlighted material uncertainty related to going concern due to accumulated losses and negative net worth.

Regulatory disclosure

• Company disclosed nil outstanding qualified borrowings at start and end of FY2026.
• Company disclosed nil incremental qualified borrowings and nil debt securities issued during FY2026.