Ramgopal Polytex Narrows Half-Year Pre-Tax Loss to Rs 9 Lakh

Ramgopal Polytex Limited narrowed its pre-tax loss to Rs 9 lakh for the half year ended September 30, 2026, from Rs 77.35 lakh a year earlier, as total expenses fell to Rs 1.2283 crore from Rs 1.8532 crore while total revenue rose to Rs 1.1383 crore.

How did Ramgopal Polytex's half-year result change?

Ramgopal Polytex reported a loss before tax of Rs 9 lakh for the half year ended September 30, 2026, compared with a Rs 77.35 lakh loss in the corresponding half year ended September 30, 2025. Its loss after tax was also Rs 9 lakh because the results reported no current tax, deferred tax or tax adjustment for earlier years in the latest six-month period.

Total revenue rose by Rs 5.86 lakh year on year to Rs 1.1383 crore from Rs 1.0797 crore. Revenue from operations increased to Rs 70.34 lakh from Rs 66.63 lakh, while other income increased to Rs 43.49 lakh from Rs 41.34 lakh. The Rs 62.49 lakh fall in total expenses was therefore substantially larger than the revenue increase.

Total comprehensive loss was Rs 9.08 lakh for the half year ended September 2026, compared with Rs 77.39 lakh a year earlier. Basic and diluted loss per share, not annualised, was Rs 0.063 against Rs 0.537, while paid-up equity share capital remained Rs 14.3963 crore in both periods.

Which costs reduced Ramgopal Polytex's half-year loss?

The lower loss reflected reduced employee benefits expense and a lower provision for Goods and Services Tax, or GST, credits. Employee benefits expense fell to Rs 0.22 lakh in the half year ended September 2026 from Rs 26.79 lakh a year earlier, and the GST-credit provision declined to Rs 3.09 lakh from Rs 70 lakh.

Other expenses decreased to Rs 20.14 lakh from Rs 22.02 lakh, while depreciation and amortisation was Rs 0.22 lakh compared with Rs 0.21 lakh. These reductions exceeded the increase in purchases of stock-in-trade, which rose to Rs 69.84 lakh from Rs 36.84 lakh. Changes in inventories of traded goods were largely stable at Rs 29.54 lakh versus Rs 29.46 lakh.

Ramgopal Polytex identifies trading in yarn and polymers as its main business and says it has no separate reportable segments under Indian Accounting Standard 108, or Ind AS 108. The filing does not give management's explanation for the reduction in the GST-credit provision or employee-benefit expense.

What do Ramgopal Polytex's September-quarter figures show?

Ramgopal Polytex made a pre-tax loss of Rs 9.36 lakh in the quarter ended September 30, 2026, following a pre-tax profit of Rs 0.36 lakh in the quarter ended June 30, 2026. The two quarterly results produced the Rs 9 lakh pre-tax loss reported for the half year.

September-quarter total revenue was Rs 56.35 lakh, down from Rs 57.48 lakh in the June 2026 quarter. Revenue from operations declined to Rs 33.38 lakh from Rs 36.96 lakh, while other income rose to Rs 22.97 lakh from Rs 20.52 lakh. Total expenses increased to Rs 65.71 lakh from Rs 57.12 lakh sequentially.

Against the quarter ended September 30, 2025, revenue from operations declined from Rs 43.13 lakh and total revenue fell from Rs 63.92 lakh. The pre-tax loss was nearly unchanged at Rs 9.36 lakh versus Rs 9.33 lakh, as expenses fell to Rs 65.71 lakh from Rs 73.25 lakh.

What changed in Ramgopal Polytex's balance sheet and cash flow?

Ramgopal Polytex's total assets were Rs 11.0671 crore on September 30, 2026, compared with Rs 11.1013 crore on March 31, 2026. Current assets rose to Rs 10.7442 crore from Rs 9.45 crore, including loans of Rs 10.2844 crore compared with Rs 4.3845 crore at the financial year-end.

Cash and cash equivalents fell to Rs 3.23 lakh at September 30, 2026 from Rs 5.0491 crore at March 31, 2026. Total liabilities declined to Rs 43.84 lakh from Rs 62.41 lakh, and other equity improved to negative Rs 3.7676 crore from negative Rs 3.9191 crore.

Net cash used in operating activities was Rs 66.09 lakh for the half year ended September 2026, compared with Rs 16.64 lakh used in the corresponding 2025 period. The cash-flow statement recorded a Rs 19.59 lakh movement in trade and other receivables, against Rs 0.43 lakh in the previous period, and an overall cash decrease of Rs 5.0168 crore.

Why did Ramgopal Polytex's statutory auditor resign?

Ramgopal Polytex's statutory auditor, Rungta Agarwal and Associates, resigned effective November 5, 2026, after issuing its limited review report for the quarter and half year ended September 30, 2026. The firm said it had undergone restructuring and that its current peer review certificate was due to expire during November 2026.

Rungta Agarwal and Associates stated that it had no dispute with Ramgopal Polytex's management and no concern about suppression of information for audit purposes. The auditor had been appointed at the September 30, 2022 annual general meeting for financial years 2022-23 through 2026-27, with its term scheduled to end at the 46th annual general meeting in calendar year 2027.

The unaudited results were reviewed by the audit committee and approved by Ramgopal Polytex's board on November 5, 2026. In its limited review report dated the same day, Rungta Agarwal and Associates said nothing had come to its attention that indicated a material misstatement or inadequate disclosure under the listing regulations.

Conclusion

Ramgopal Polytex reduced its half-year pre-tax loss by Rs 68.35 lakh, with the decline in total expenses, especially the Rs 66.91 lakh reduction in the GST-credit provision, exceeding the Rs 5.86 lakh rise in revenue. However, the Rs 9.36 lakh loss in the September 2026 quarter followed a Rs 0.36 lakh profit in June, showing that the half-year improvement did not produce a profitable second quarter.

The unresolved matter to watch is Ramgopal Polytex's replacement of Rungta Agarwal and Associates after the auditor's November 5, 2026 resignation. The outgoing auditor said it would file its required statement in Form ADT-3 with the Registrar of Companies within the prescribed period, while the filing does not identify a successor auditor.