A B Cotspin India Limited has responded to a clarification request from the National Stock Exchange of India Ltd. regarding financial results previously submitted on May 28, 2024. The company apologized for an inadvertent omission during the submission process and has enclosed revised financial results with updated date and place information. The audited financial results for the half-year and year ended March 31, 2024, were prepared in accordance with Indian Accounting Standards and SEBI Listing Regulations. The auditor's report, dated May 28, 2024, indicated that the financial statements presented a true and fair view. The company's operations fall under the Cotton ginning and netting business, considered the only reportable segment. For the year ended March 31, 2024, the company reported total assets of ₹19,804.78 lakhs and total equity of ₹6,846.37 lakhs. Total liabilities amounted to ₹13,025.09 lakhs. Revenue from operations for the year was ₹25,576.55 lakhs, with a net profit after tax of ₹669.84 lakhs. The previous year reported total assets of ₹14,943.69 lakhs, total equity of ₹4,257.84 lakhs, total liabilities of ₹10,685.85 lakhs, revenue from operations of ₹16,910.01 lakhs, and a net profit after tax of ₹381.08 lakhs. A Board resolution from August 25, 2023, approved the issuance and allotment of 1,20,28,562 Fully Convertible Warrants at ₹70 per warrant to Promoter & Promoter Group and Non-Promoter categories, for an aggregate amount of up to ₹84,19,99,340. This was approved by shareholders in their AGM on September 25, 2023.
