Meyer Apparel Ltd Approves Financial Results and Increase in Borrowing Limit
Meyer Apparel Ltd announced that its Board of Directors held a meeting on May 17, 2026. During the meeting, the Board approved the audited financial results for the quarter and year ended March 31, 2026, and also considered and approved increasing the company's borrowing limit up to Rs. 2.75 crore under Section 180(1)(c) of the Companies Act, 2013, subject to member approval. The board also considered and approved the availing of inter corporate loans and loans from Promoters and/or Directors.Financial Performance Highlights
The company released the Statement of Audited Financial Results for the quarter and year ended March 31, 2026, detailing revenues and expenses.The financial data for the quarter and year are presented below (Amounts are in Lakhs):
| Particulars | Quarter Ended March 31, 2026 | Quarter Ended December 31, 2025 | Quarter Ended March 31, 2025 | Year Ended March 31, 2026 | Year Ended March 31, 2025 |
|---|---|---|---|---|---|
| 1. Revenue from operations | Audited | Un-audited | Audited | Audited | Audited |
| 11. Other Income | (0.08) | 0.03 | 4.41 | -0.13 | 8.02 |
| Income | (0.04) | 0.075 | 29.56 | 8.83 | 128.27 |
| IV. Expenses | |||||
| (b) Purchases of stock-in-trade | 0.17 | 0.07 | (156) | 1,291 | 54 |
| Change In inventories of finished goods, work-in progress and stock-in trade-goods | (0.24) | (0.24) | 24.76 | (4.78) | 10,656 |
| (e) Employee Benefits Expenses | 13.13 | 6.29 | 10.06 | -3,802 | 4,194 |
| (1) Finance Costs | 195 | 155 | 38 | 461 | 142 |
| (8) Depreciation, amortization and impairment expenses | 20 | 22 | 0.40 | 89 | 177 |
| () Other Expenses | 895 | 891 | 18.52 | 3,598 | 8,292 |
| Total Expenses | 24.16 | 17.43 | 52.56 | 87.63 | 23,515 |
| V. Profit / (Loss) from before exceptional items and tax (III-IV) | (24.20) | (16.68) | (23.00) | (78.80) | (106.88) |
| VI. Profit / (Loss) from before tax | (24.20) | (16.68) | (23.00) | (78.80) | (106.88) |
| IX. Profit / (Loss) for the period | (2420) | 126.06 | 0 | (78.80) | (106.88) |
Balance Sheet Snapshot
As of March 31, 2026, the company reported Total Assets of 70.60 Lakhs. Equity totaled (3,356.45) Lakhs, resulting in negative net worth. Total Current Liabilities stood at 70.60 Lakhs.| PARTICULARS | As at March 31, 2026 | As at March 31, 2025 |
|---|---|---|
| ASSETS | ||
| Property, Plant and Equipment assets | 281 | 583 |
| Other Intangible | 0.34 | 0.34 |
| Inventories | 12.00 | 723 |
| Trade receivables | 0 | 145 |
| Cash and cash equivalents | 2.05 | 2.00 |
| Bank balances other than cash and cash equivalents | 190 | 177 |
| Loans | 132 | 200 |
| Other current assets | 4,898 | 4,442 |
| Total Assets | 70.60 | 65.78 |
| EQUITY AND LIABILITIES | ||
| Total Equity | (3,356.45) | (3,278.40) |
| Provisions | 3.50 | 5.77 |
| Borrowings | 67.86 | |
| Other Financial Liabilities | 370.22 | 3,7120 |
| Total Current Liabilities | 70.60 | 65.78 |
Cash Flow Analysis
For the year ended March 31, 2026, the company reported a Net cash outflow from operating activities of (102,151) Lakhs. Total cash and cash equivalents at the end of the year stood at 2'05 X Lakhs.Audit and Compliance Updates
The Independent Auditor's Report on the Quarterly and Year to Date Audited Financial Results provided an opinion that the statement gives a true and fair view in conformity with applicable accounting standards.The auditors noted that the accumulated losses as at March 31, 2026, amounted to Rs. 6,296.12 Lakhs, resulting in the erosion of net worth. They stated that these factors raise doubts regarding the company's ability to continue as a going concern, although the financial statements were prepared on a going concern basis.
Furthermore, the company disclosed that for the financial year ended March 2026, the outstanding qualified borrowings at the start and end of the financial year were NIL, and the incremental borrowing done during the year (qualified borrowing) was also NIL.
MAL Stock Price Movement
Mangalam Alloys Limited settled at ₹39.05 on Friday, finishing the session with zero percentage change. The stock remained perfectly flat relative to its previous close, signaling a day of complete consolidation in the capital goods sector.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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