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📋 Filing Types Available on ForgeUp Filings Sourced from BSE corporate announcements (equity segment). Companies covered are BSE-listed and most are also listed on NSE. We show only material filings.
Financial Results Orders Dividend Buyback Merger / Acquisition Board Meeting Outcome Fundraise (QIP / Rights / FPO) Regulatory / Court Order Credit Rating Change Promoter Pledge Update Management Change Joint Venture / MOU Delisting Bonus Shares Stock Split
Data sourced from BSE India corporate announcements. More categories will be added over time.
Harish Textile Engineers Ltd

Harish Textile Engineers Q2 FY27 Results: Debenture Defaults & Negative Working Capital

RESULTS ▼ Concern Flagged HIGH RISK
📅 Filed on BSE: 03 Nov 2026, 06:36 PM IST  ·  BSE ID: 580b3c85-5444-4919-808d-172720dc96ce
View Original BSE Filing (PDF)
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In Simple Terms
The company reported its latest financial results, but auditors highlighted serious issues including unpaid debts and insufficient working funds.
🤖 AI Summary
  • Harish Textile Engineers Ltd filed standalone unaudited financial results for Q2 FY27 and half year ended September 30, 2026.
  • Auditors issued a qualified conclusion due to debenture defaults totaling INR 64.72 Lakhs (Old Series-III) and INR 146.79 Lakhs (New Series-IV).
  • A material uncertainty regarding going concern was noted due to negative net working capital of INR 1,353.34 Lakhs as of September 30, 2026.
  • Auditors could not validate INR 115.33 Lakhs interest liability for MSME vendors and impact of non-reversal of input tax credit.
  • Legal disputes involve NCLT petition regarding business slump-sale and a Bombay High Court order impacting certain family-owned assets.
🏢 How This Affects the Company
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Financial Impact
The company faces significant financial strain due to defaulted debenture redemption obligations amounting to INR 211.51 Lakhs (principal) and a negative net working capital of INR 1,353.34 Lakhs. This impacts liquidity and could affect its ability to meet future financial commitments.
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Operational Impact
The Company's Textile Engineering segment and a part of its Non-Woven segment operate from a leased premises where the lease expired on June 30, 2026, and a notice to vacate has been received. This situation creates uncertainty regarding continued operations from these premises.
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Risk Impact
The company's ability to continue as a going concern is dependent on renewing credit facilities, raising additional funds, and generating adequate cash flows. Various legal disputes, including debenture defaults, an NCLT petition, and a Bombay High Court order on asset alienation, increase operational and financial risks.
👥 What This Means For Shareholders
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Action Required
No direct action is required by shareholders based on this filing.
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Who Is Affected
Shareholders are indirectly affected by the company's financial and operational risks, including debenture defaults and legal challenges which impact company stability.
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Management Signal
The management's communication of unaudited results despite significant auditor qualifications indicates adherence to regulatory disclosure requirements, but also transparency regarding ongoing financial and legal challenges.

For information only. Not investment advice. ForgeUp is not SEBI-registered.

👁 Watch List — track these upcoming events
Next financial results — review liquidity and working capital position.
Updates on debenture repayment status and enforcement proceedings by Debenture Trustee.
Developments in legal matters, including NCLT petition and Bombay High Court order.
HIGH RISK Multiple defaults, negative working capital, and material uncertainty on going concern indicate substantial financial and operational risks.
💡 Investor Takeaway
Harish Textile Engineers Ltd's Q2 FY27 results are qualified due to defaults on debentures totaling INR 211.51 Lakhs (principal) and a negative net working capital of INR 1,353.34 Lakhs as of September 30, 2026. Auditors highlighted a material uncertainty regarding the company's ability to continue as a going concern.
⚖️ Strengths & Concerns

⚠️ Concerns

  • Defaulted on debenture redemption payments for Old Series-III (INR 64.72 Lakhs) and New Series-IV (INR 146.79 Lakhs), resulting in a Notice of Event of Default.
  • Reports negative net working capital of INR 1,353.34 Lakhs as of September 30, 2026, indicating liquidity challenges with current liabilities of INR 7,085.39 Lakhs exceeding current assets of INR 5,732.05 Lakhs.
📅 Company Track Record
Recently listed — no previous filings found on ForgeUp for this company, indicating limited public track record available for historical trend analysis. This is the first financial result filing by Harish Textile Engineers Ltd captured on the platform.

Based on publicly available historical data. For context only.

❓ Frequently Asked Questions
What financial period do the Harish Textile Engineers results cover?
The filing covers the standalone unaudited financial results for the second quarter and half year ended 30th September, 2026, corresponding to Q2 FY27.
What is the primary financial concern highlighted by the auditors for Harish Textile Engineers?
The primary concern is the default in redemption of debentures, specifically INR 64.72 Lakhs for Old Series-III and INR 146.79 Lakhs for New Series-IV, leading to a Notice of Event of Default.
Does Harish Textile Engineers Ltd have sufficient working capital?
No, the company has a negative net working capital of INR 1,353.34 Lakhs as of September 30, 2026, with current liabilities of INR 7,085.39 Lakhs against current assets of INR 5,732.05 Lakhs.
What legal issues affect Harish Textile Engineers Ltd's assets?
A Bombay High Court order dated July 01, 2026, restricts alienation of certain family-owned assets, including equity shares of Sandeep Gandhi family in M/s Harish Textile Engineers Limited and underlying assets.
What is the status of the lease for Harish Textile Engineers Ltd's operational premises?
The lease agreement for premises where the Textile Engineering and Non-Woven segments operate expired on June 30, 2026. The company has received a notice to vacate and has not done so yet.

Questions based on this BSE filing only. For information purposes.

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⚠️ For Information Only — Not Investment Advice
ForgeUp Filings provides AI-generated summaries of public BSE exchange announcements (equity segment) for informational purposes only. Nothing here constitutes investment advice or a recommendation to buy, sell, or hold any security. ForgeUp is not a SEBI-registered investment advisor. All financial numbers are sourced directly from BSE filings and shown as-is. Past data is historical only. Please consult a qualified financial advisor before making investment decisions. Data sourced from BSE India public disclosures.
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