Morarjee Textiles Share Price Today

Morarjee Textiles reconstitutes board under NCLT plan

Morarjee Textiles Ltd has reconstituted its Board of Directors following a Resolution Plan approved by the National Company Law Tribunal (NCLT) on May 11, 2026. Four directors, including two Whole Time Directors and two Independent Directors, ceased to hold office effective June 9, 2026, as per the Implementation and Monitoring Committee's recommendations. The changes were disclosed to the exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

NCLT Approves Morarjee Textiles INR 156 Cr Resolution Plan; IMC Holds First Meeting

The NCLT, Mumbai approved Morarjee Textiles' INR 156 crore resolution plan on May 11, 2026, with SSIPL as the SRA following a CoC approval of 75.61%. The IMC, comprising RP Ravi Sethia, SSIPL's advocate, and Indian Bank, was constituted on May 13, 2026 and held its first meeting the same day via video-conferencing. Full plan implementation, including payments to all stakeholders, is to be completed by T+360 days from the Effective Date.

Morarjee Textiles Reports Widening Losses Amid Ongoing Challenges

Morarjee Textiles Limited reported a significant increase in net losses for the half year ended September 30, 2020. Net loss rose to ₹3,467.00 lakhs from ₹868.00 lakhs in the previous year, a 299.40% increase. Revenue from operations fell by 69.90% to ₹5,551.00 lakhs. The company faced operational challenges due to COVID-19 lockdowns, an invoked export performance bank guarantee, and inability to redeem preference shares. Recent quarterly data shows continued financial strain with Q4 FY2024 net loss at ₹105.60 crore, despite a 46.24% quarter-on-quarter revenue increase to ₹13.60 crore. Management is seeking to improve liquidity and has approached NCLT for preference shares re-issuance.

Morarjee Textiles Holds 28th and 29th Committee of Creditors Meetings Amid Ongoing Insolvency Process

Morarjee Textiles Limited, undergoing Corporate Insolvency Resolution Process (CIRP), held its 28th and 29th Committee of Creditors (COC) meetings on September 12 and 22, 2023, respectively. The company's affairs are managed by Resolution Professional Mr. Ravi Sethia, appointed by NCLT Mumbai. Kishore Dhage continues as CEO, Whole Time Director, and Compliance Officer. The company has informed stock exchanges of these developments in compliance with SEBI regulations.