Konark Synthetic Ltd. Reports Q3 and Nine Months Financial Results for 2025, Withdraws Consolidated Results Due to Insolvency of Subsidiary

Konark Synthetic Ltd. has released its financial results for the quarter and nine months ended December 31, 2025. The company's standalone financial results show a profit before tax of INR 4.83 lakhs for Q3 and INR 15.52 lakhs for the nine-month period. However, the company is unable to prepare consolidated financial results due to the insolvency of its subsidiary, India Denim Limited, and the ceasing of its associate relationship with Konark Infratech Private Limited. The company has made full provision for its investment in India Denim Limited. The trade receivables include a long outstanding receivable of INR 711.18 lakhs from Mudra Denims Private Limited, with a minimal probability of recovery, and a corporate guarantee of INR 2706.00 lakhs to the bankers of India Denim Limited, which may have a material impact on the company's financial position.