Girnar Spintex Industries Reports Q2 Results; Provides Update on Composite Textile Plant Modernization
Girnar Spintex Industries Limited (formerly Amit Spinning Industries Limited) has released its Unaudited Standalone Financial Results for the quarter ending June 30, 2026. The company also provided an update on the progress of its expansion and modernization initiative at its composite textile facility.The Board of Directors approved these results during a meeting held on August 14, 2026. The financial performance for the reviewed quarter showed Total Revenue reaching 10.18 (Rs in Lakhs), compared to 12.59 in the previous quarter (Q ended March 31, 2026).
The company's operational status and key financial metrics are summarized below:
| Financial Metric | Q Ended June 30, 2026 (Reviewed) | Q Ended March 31, 2026 (Audited) |
|---|---|---|
| Total Revenue | 10.18 | 12.59 |
| Expenses | 2.50826 | 3.68014 |
| Profit/(Loss) from Continuing Operations | (265.31) | 16.80 |
| Total Comprehensive Income for the Period | 385.68 | -7.42 |
Expansion and Modernization Update
Girnar Spintex Industries Limited provided updates on two key operational areas: the Processing Division and the Spinning Division, detailing progress against its expansion plan.Processing Division Progress
The erection and installation work for the expanded Processing Division is nearing completion and is expected to be finalized within the next month. The company anticipates commencing commercial production from this expanded division by the end of September 2026. Furthermore, the company has already begun undertaking job work services on a trial basis through the Processing Division, allowing it to start commercial operations and build customer relationships ahead of full-scale commissioning.
Spinning Division Development
Regarding the Spinning Division, the company has successfully completed shifting its banking facilities from HDFC Bank to Cosmos Bank. In support of the planned expansion, Girnar Spintex Industries Limited secured a sanction for an expansion loan facility from Cosmos Bank. The modernization plan includes placing an order with Rieter India Private Limited for 11,040 additional spindles, which are expected to be delivered within the next month. The company expects to complete the installation and commissioning activities for the expanded Spinning Division and start commercial production by the end of November 2026.
Statement of Assets and Liabilities
The company's financial position shows movement in key asset and liability categories as of June 30, 2026 (amounts in Rs. in Lakhs).| Particulars | Q Ended June 30, 2026 (Unaudited) | Q Ended March 31, 2026 (Audited) |
|---|---|---|
| Total Current Assets | 3,634.38 | 3,844.46 |
| Sub total Non-current Assets (A) | 10,024.73 | 9,725.21 |
| Total Equity (A) | 4,340.46 | 4,612.78 |
| Total Non-current Liabilities (B) | 2,384.85 | 2,225.59 |
| Total Current Liabilities (C) | 6,933.81 | 6,731.31 |
| Grand Total Assets / Equity and Liabilities | 13,659.11 | 13,569.67 |
The company reaffirmed its commitment to the implementation of the expansion and modernization plan for both divisions and pledged to keep stock exchanges informed of any material developments regarding this endeavor.
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