Gokak Textiles Approves Permanent Closure Of ₹19.5 Crore Knitwear Unit

Q1 FY27 Consolidated Results YoY: Revenue at 25.4 Cr vs 16.7 Cr, up 52.5%. EBITDA at 6.9 Cr vs 2.1 Cr, up 235.1%. EBITDA Margin at 27.3% vs 12.4%, expansion of 1490bps. PAT loss narrowed to 4.4 Cr vs loss of 11.7 Cr; includes 1.1 Cr insurance settlement income. Power segment turned profitable at 2.1 Cr vs loss of 4.7 Cr, while textile loss narrowed to 6.5 Cr from 7.1 Cr. The Board approved permanent closure and subsequent sale of the knitwear unit, subject to approvals, for 19.5 Cr, expected by October 2026. The Group remains dependent on promoter support: current liabilities exceeded current assets by 48.5 Cr, with negative net worth and accumulated losses.