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However, while firing the financial resurts in XBRL formal the Eps for the quarter ended 31st March, 2026 was corlectry reported as Rs. (1.16J, but due to an inadvertent typographical error, the Ef! f:. the financial y"u. .nd"d 31st March, ii{*^, mistakenly reported as Rs. (1.16) instead ofthe coirect figure of Rs. (1.10J. we wish to confirm that the aforesaid discrepancy was purely inadvertent and clerical in nature' There has been no change whatsoever in the financiar ...utt. ,pp.ou"Jty Board of Directors and submitted by the Company. we wish to inform you that the Financiar Results are also resubmitted in XBRL format. we reques-t you to kindly take the above clarification on record and treat the matter as duly complied with. Tllanking you, Yours faithfully, For Laxmi Cotspin Limited JALNA Saniay Kachrulal Rathi Director DIN:00182739 Independent Auditor's Report on the Quarterly and Year to Date Audited Consolidated Financial Results of the Company pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. The Board of Directors of LAXMI COTSPIN LIMITED Qualified Opinion We have audited the accompanying statement of quarterly and Year to date Consolidated financial results of LAXMI COTSPIN LIMITED (“the Company”) for the quarter and year ended March 31, 2026 (‘Statement’). Laxmi Cotspin Limited is required to comply with the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulations”). In our opinion and to the best of our information and according to the explanations given to us these Consolidated financial results except for the matters described in the Basis for Qualified Opinion effect whereof is presently unascertainable for: 1. Includes the annual financial results of the following entities: a) Laxmi Cotspin Limited (Holding company) b) Laxmi Spintex Private Limited (Wholly owned subsidiary company) c) Laxmi Surgical Healthcare Private Limited (Wholly owned subsidiary company) 2. are presented in accordance with the requirements of the Listing Regulations in this regard and 3. gives a true and fair view in conformity with the recognition and measurement principles laid down in the Indian Accounting Standards (“Ind AS”) and other accounting principles generally accepted in India, of the net loss and other comprehensive income and other financial information of the company for the quarter and year ended March 31, 2026. Basis for Qualified Opinion We conducted our audit of the Consolidated financial statements in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013 (the Act). Our responsibilities under those Standards are further described in the “Auditor’s Responsibilities for the Audit of the Consolidated Financial Results” section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the Consolidated financial results under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 1. In the absence of proper inventory records and supporting documentation, we are unable to ascertain the correctness of the quantity, condition, and valuation of inventory as of March 31, 2026. As informed to us, the inventory has been valued by Management based on estimates and approximations. Consequently, we are unable to determine the impact on the cost of goods sold, loss for the period, closing inventory, and related disclosures in the Statement. 2. During the period, the Company has advanced loan to its wholly owned subsidiary (Laxmi Spintex Private Limited). However, the Company has not taken board approval and has not complied with certain statutory requirements relating to the said advance, as required under applicable provisions of the Companies Act, 2013 and Rules thereunder. In the absence of the above compliances and supporting documentation, we are unable to comment on the completeness, appropriateness, and regulatory compliance of the said advance, as well as any consequential financial impact arising therefrom. 3. The Company has given a significant advance to one of the creditors. Based on available information reviewed by us, there are indicators of financial stress relating to entities connected with the said creditor, creating uncertainty regarding the end-use and recoverability of the advance. No provision or impairment has been evaluated or recognized in accordance with Ind AS 109. In the absence of adequate evidence, we are unable to determine the accuracy of the carrying amount of this advance and its possible impact on the accompanying Statement. 4. During the previous financial year, the Company recorded the sale of land to its subsidiary, Laxmi Spintex Private Limited. However, we observe that as of March 31, 2026, the legal formalities for the registration of the sale deed have not been completed. In the absence of a registered sale deed and the consequent transfer of legal title, we are unable to obtain sufficient appropriate evidence to conclude whether the transaction of land sale has taken place or whether the risks and rewards of ownership have been effectively transferred to the subsidiary. Further, the Company has also not considered reversal of the aforesaid land sale transaction in the books of account pending completion of the legal transfer formalities. 5. The Company has not assessed and recognized Expected Credit Loss (“ECL”) provision on trade receivables outstanding for a period exceeding three years, as required under Ind AS 109 – “Financial Instruments”. In the absence of adequate assessment and provision for ECL, we are unable to determine the impact, on the carrying value of trade receivables, profit/loss for the year and other related disclosures in the financial statements. Responsibilities of Management’s and Those Charges with Governance for the Consolidated Financial Results The statement has been prepared on the basis of the Consolidated financial statements. The Company’s Board of Directors are responsible for the preparation of these Consolidated financial results that give a true and fair view of the net loss and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standard, prescribed under Section 133 of the Companies Act 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the SEBI Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Consolidated financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which has been used for the purpose of preparation of the Consolidated financial results by the directors of the company, as aforesaid. In preparing the Consolidated financial statements, the Board of Directors are responsible for assessing the Company’s ability to continue as a going concern, disclosin [Showing first 8,000 characters — download PDF for full document]