Silla Textile: Q1 Operating Profit Slightly Down; High Debt and No Dividend Continue
Q1 FY2026 (Jan-Mar): Revenue 831.7M KRW (down 12.2% YoY from 947.2M), operating profit 302.7M (down 4.4% from 316.5M), net income 149.7M (similar to 151.4M YoY)
Debt-to-equity ratio 112% (same as year-end), short-term borrowings 14.6B, total liabilities 16.3B, equity 14.6B
No dividends paid in the last 3 fiscal years (cash or stock), no share buyback or cancellation
No consolidated subsidiaries; separate financial statements
Main businesses: real estate leasing (61.2% of revenue, operating profit 404.5M), mobile phone sales (38.8% of revenue, operating loss 17.9M)
No R&D expenses or new investment plans
Minor related party transactions (Johoong 3M, Chungang Culture Scholarship 4.5M)
Contingent liabilities: blank promissory notes (2) and checks (5) provided; loan commitments with Hana Bank (10.5B) and IM Bank (6.1B); collateral on land and buildings (carrying value 14.96B)
Capital surplus 14.65B, revaluation reserve 6.42B, accumulated deficit 2.50B