Textile manufacturer SVP Global Textiles has reported a consolidated net profit of Rs 45.62 crore (US $4.78 million) for FY 2025-26, marking a sharp turnaround from a consolidated net loss of Rs 979.54 crore (US $102.56 million) in the previous fiscal.
However, the reported profit comes amid severe financial and operational challenges, with the company’s manufacturing facilities remaining non-operational throughout FY26 and key subsidiaries undergoing insolvency proceedings.
The company’s revenue from operations declined to Rs 5.03 crore (US $526,646) in FY26, compared with Rs 92.21 crore (US $9.65 million) in FY25. On a standalone basis, the company reported zero revenue from operations during the year.
SVP Global Textiles said its manufacturing facilities remained completely non-operational during FY26, raising concerns over the sustainability of its business operations and future revenue generation.
The company is also dealing with insolvency proceedings involving key subsidiaries, including Shri Vallabh Pittie South West Industries and Shri Vallabh Pittie Industries, which are undergoing the Corporate Insolvency Resolution Process (CIRP).
The financial difficulties have also resulted in defaults on loans owed to creditors, including Indian Bank and RIICO. The lenders have recalled the outstanding amounts following breaches of debt covenants.
