Flexituff Ventures International Completes Board Meeting, Reports Losses Amid Operational Difficulties; Names New Scrutinizer

Flexituff Ventures International Completes Board Meeting, Reports Losses Amid Operational Difficulties; Names New Scrutinizer​

Flexituff Ventures International Limited concluded its Board meeting on August 21, 2026, reviewing and approving a series of critical reports. The company's unaudited financial results for the quarter ended June 30, 2026, were released, detailing ongoing operational and financial challenges, amidst which the management appointed M/s Ritesh Gupta & Co. as the Scrutinizer for the upcoming Annual General Meeting (AGM).

The Board of Directors reviewed the Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026, along with associated reports. The meeting also approved the Notice for the company's 33rd Annual General Meeting, which is scheduled to be held on Wednesday, September 30, 2026, via video conferencing or other audio-visual means.

Other key actions taken by the Board included adopting the Board Report, Corporate Governance Report, Management Discussion and Analysis Report, and the Secretarial audit report for the financial year ended March 31, 2026. Furthermore, the company initiated processes to change its name, filing a RUN application with the Registrar of Companies for the name 'Kaashipur Ventures International Limited'. M/s Ritesh Gupta & Co., Company Secretary was also appointed as the Scrutinizer of the Company for the ensuing AGM.

Financial Highlights and Results​

The unaudited standalone financial results for the quarter ended June 30, 2026, indicated a net loss of 1,568.38 lakhs. The company's total income for this period stood at 28.57 lakhs from other income, compared to total expenses of 1,596.95 lakhs.

Key financial metrics for the quarter ended June 30, 2026 (Rupees in lakhs):

Group and Operational Status​

The unaudited consolidated financial results for the quarter ended June 30, 2026, reflected a total comprehensive loss of (1,568.38) lakhs attributable to the parent company's equity holders. Total income stood at 28.57 lakhs, while total expenses amounted to 1,596.95 lakhs.

The review reports provided by Chartered Accountants noted significant operational difficulties facing the Parent Company. The company has faced a deadlock position regarding its management and business operations due to continued financial strain. This situation includes issues with raw material availability at the Kashipur plant in Uttrakhand and labor strikes related to unpaid wages.

The company reported that it has been unable to secure replacement financing for its outstanding Cash Credit (CC) facilities and Working Capital Term Loans (WCTL). The total dues, including accrued interest, stood at Rs 30,935.76 lakhs as of June 30, 2026, prompting lending banks to issue notices under the SARFAESI Act.

The company is engaged exclusively in the Technical Textile segment and has no separate reportable segments. The results for the quarter ended March 31, 2026 were confirmed as balancing figures between audited full financial year data and published year-to-date figures.

FLEXITUFF Stock Price Movement​

On Friday, shares of Flexituff Ventures International Limited edged higher in trading, settling at ₹2.76 after rising 1.09% from the previous close. The movement saw the stock trade within a tight range between a low of ₹2.7 and a high of ₹2.8, placing it in proximity to its 52-week low with 218,180 shares traded.