Nature of the Event

Regulatory submission of the Notice of the 13th Annual General Meeting (AGM) of Axita Cotton Limited for the financial year 2025-2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Quantitative Figures

  • Final Dividend: Proposed final dividend of 5% i.e. ₹0.05 per equity share of ₹1 each for FY 2025-2026.
  • Statutory Auditor Remuneration: Proposed annual fee of ₹6,00,000 (plus applicable taxes and out-of-pocket expenses) for M/s. DTA & Associates.
  • Cost Auditor Remuneration: ₹35,000 (plus applicable taxes) plus reimbursement of out-of-pocket expenses for M/s. Reena Patadiya & Co. for FY 2026-2027.
  • Record Date for Dividend: Fixed as Friday, September 11, 2026.
  • Managing Director Remuneration: Mr. Nitinbhai Govindbhai Patel drew ₹30.00 lakh in FY 2025-2026.
  • Shareholding: Mr. Nitinbhai Govindbhai Patel holds 101,387,413 equity shares.

Dates of Action

  • AGM Date: Wednesday, September 30, 2026, at 02:30 P.M. IST.
  • Remote e-Voting Period: Begins on September 26, 2026 (09:00 AM) and ends on September 29, 2026 (05:00 PM).
  • Cut-off Date for e-Voting: Wednesday, September 23, 2026.
  • Board Meeting Date: August 12, 2026 (approved auditor appointments, director re-appointments, and cost auditor remuneration).
  • Resignation of Previous Auditor: M/s P K N & Co. resigned on August 12, 2026.
  • New Auditor Term: Proposed from FY 2026-2027 to FY 2030-2031 (5 years).
  • Independent Director Term: Mr. Vinod Rana's new term proposed from February 22, 2027, to February 21, 2032.

Parties or Entities Involved

  • Stock Exchanges: BSE Limited, National Stock Exchange of India Limited
  • New Statutory Auditor: M/s. DTA & Associates, Chartered Accountants (FRN: 140825W)
  • Previous Statutory Auditor: M/s P K N & Co., Chartered Accountants (FRN: 137148W)
  • Cost Auditor: M/s. Reena Patadiya & Co. (Firm Registration No. 004346)
  • Registrar and Transfer Agent (RTA): MUFG Intime India Private Limited (formerly Link Intime India Private Limited)
  • e-Voting Agency: National Securities Depository Limited (NSDL)
  • Scrutinizer: Mr. Premnarayan R. Tripathi of M/s. PRT & Associates
  • Key Personnel:
  • Mr. Nitinbhai Govindbhai Patel (Chairman and Managing Director, DIN: 06626646)
  • Mr. Vinod Kanubhai Rana (Independent Director, DIN: 08160972)
  • Mr. Shyamsunder Panchal (Company Secretary and Compliance Officer)

Purpose or Rationale

  • To present and adopt the Audited Standalone Financial Statements for FY ended March 31, 2026.
  • To declare a final dividend for FY 2025-2026.
  • To fill a casual vacancy in the office of statutory auditor caused by the resignation of M/s P K N & Co.
  • To re-appoint a director (Mr. Nitinbhai Patel) retiring by rotation.
  • To re-appoint an independent director (Mr. Vinod Rana) for a second term.
  • To ratify the remuneration of the cost auditor for FY 2026-2027.

Financial or Operational Impact

  • Dividend payout will result in cash outflow, subject to shareholder approval.
  • Appointment of new statutory auditors at the same fee as the previous auditor (no incremental cost).
  • Cost auditor remuneration ratified for FY27.

Capital Structure Impact

No change in capital structure disclosed. Dividend payment will reduce retained earnings.

Cash Flow Implications

  • Dividend payment will lead to cash outflow.
  • Auditor and cost auditor fees represent operational cash outflows.

Voting Instructions

  • The AGM will be conducted entirely through Video Conferencing (VC) / Other Audio Visual Means (OAVM).
  • Physical attendance and proxy appointments are not permitted.
  • Shareholders can vote remotely via NSDL e-Voting platform during the specified period or during the AGM.

Other Material Information

  • The company's 100% equity shares are in demat mode.
  • Members must update PAN, bank details, and nomination information with RTA/DP to avoid folio freezing and to receive dividends electronically.
  • Unclaimed dividends for seven consecutive years will be transferred to the Investor Education and Protection Fund (IEPF).
  • The full Notice and Annual Report are available on the company's website (www.axitacotton.com) and stock exchange websites.

#Tags: #AxitaCotton #AGM #SEBIDisclosure #Dividend #RegulatoryCompliance #Neutral