According to the latest unaudited financial results approved by the Board of Directors on August 12, 2026, Meyer Apparel reported a net loss of ₹70.45 lakh for Q1 FY27, representing a significant deterioration from the net loss of ₹18.85 lakh recorded in the corresponding quarter of the previous financial year. The company's financial performance showed substantial decline across key metrics during the first quarter of FY27, with the deterioration primarily driven by a one-time exceptional expense of ₹48.00 lakh incurred towards a legal settlement, which management described as non-recurring.
The company's sales performance remained severely impacted during the quarter, with no sales reported in Q1 FY27 compared to ₹0.08 crore sales recorded in the same quarter of the previous financial year. This represents a 100% decline in revenue generation, indicating significant operational challenges faced by the apparel manufacturer during the quarter. The company's revenue from operations was reported at ₹0 lakh for the current quarter, reflecting the complete absence of sales activity.
According to the latest financial data, the company's operating profit margin (OPM) stood at 0% in Q1 FY27, compared to 237.50% in the corresponding quarter of the previous year. The profit before tax (PBT) also declined to ₹0.22 crore loss from ₹0.19 crore loss in Q1 FY26, while profit before depreciation and tax (PBDT) remained at ₹0.22 crore loss compared to ₹0.19 crore loss in the previous year quarter. Other income stood at ₹0.30 lakh, down sharply from ₹8.02 lakh in the same quarter last year, while total expenses rose to ₹22.75 lakh from ₹26.90 lakh in the prior year's corresponding quarter.
Statutory auditors Khandelwal Jain & Co. issued an unmodified review report but drew attention to a material uncertainty related to going concern. The company has accumulated losses of ₹6,366.45 lakh as of June 30, 2026, resulting in a negative net worth of ₹3,426.78 lakh. Furthermore, current liabilities exceeded current assets by ₹3,426.16 lakh at the reporting date, raising doubts about the company's ability to continue as a going concern. Employee benefits expenses increased to ₹11.79 lakh from ₹9.42 lakh, while finance costs rose to ₹3.33 lakh from ₹0.26 lakh in the previous year. Management stated that it expects continuing business operations, improved operational efficiencies, and strategic initiatives to generate adequate cash flows to meet operational requirements.
