Meeting Details

The 36th Annual General Meeting was held through video conferencing (VC)/Other Audio-Visual Means (OAVM) on Monday, August 10, 2026 at 11:00 AM IST. The deemed venue was the registered office at 252, Mettupalayam Road, Coimbatore 641043.

Attendance

Members Present:

  • Promoter/Promoter Group: 2 members
  • Public: 87 members

In Attendance:

  • Directors: Sri S V Arumugam (Chairman & Managing Director), Sri S K Sundararaman, Sri K P Ramakrishnan (Director and Chairman of Audit Committee and Stakeholders Relationship Committee), Smt Priya Bhansali (Director and Chairperson of Nomination and Remuneration Committee), Smt Sadhana Vidhya Shankar, Sri K Sadhasivam, Sri C Sivasamy, Sri R Shanmugavelayutham
  • Company Secretary: Sri N Krishnaraj
  • Chief Financial Officer: Sri S Seshadri
  • Statutory Auditors: Sri PR Vittel and Sri Pon Arul Paraneedaran (P.N Raghavendra Rao & Co)
  • Secretarial Auditor: Sri R Dhanasekaran
  • Cost Auditor: Sri M Nagarajan

Proceedings Summary

The meeting commenced at 11:00 AM with requisite quorum present. The Chairman explained the problems faced by the textile industry and prospects for the future, covering economic scenario, global textile market issues, and company performance.

Ordinary Business Resolutions

1. Adoption of Audited Financial Statements

The Audited Financial Statements (both Standalone and Consolidated) for the financial year ended March 31, 2026, together with the Report of the Directors and Auditors were adopted.

2. Declaration of Dividend on Equity Shares

Dividend declared at the rate of ₹0.25 per equity share of ₹5 each for the financial year ended March 31, 2026.

3. Re-appointment of Sri K Sadhasivam, Director

Sri K Sadhasivam (DIN 00610037), who retired by rotation, was re-appointed as a Director of the Company.

Special Business Resolutions

4. Reappointment and Payment of Remuneration to Sri S V Arumugam, Managing Director

Sri S V Arumugam (DIN 00002458) was re-appointed as Managing Director for a further period of 3 years effective June 27, 2026. The remuneration structure approved:

Remuneration Structure (When Profits Adequate):

  • Overall remuneration: 10% of Net Profits computed under Companies Act, 2013
  • Salary: ₹15,00,000 per month
  • Perquisites: Amount not exceeding annual salary
  • Other perquisites: Provident Fund contributions, Gratuity (not exceeding half month's salary per completed year), Leave encashment
  • Commission: Balance of overall remuneration remaining after payment of salary and perquisites

Minimum Remuneration (In Absence or Inadequacy of Profits):

  • Basic Salary: ₹15,00,000 per month
  • Perquisites: Not Applicable
  • Other perquisites: Provident Fund @ 12% on basic salary, Gratuity payable at rate not exceeding half month's salary per completed year of service

Special resolution approved under Section 196(3) of Companies Act, 2013 for appointment despite having attained age of 70 years.

5. Approval of Payment of Remuneration to Cost Auditor

Remuneration of ₹1,00,000 (plus reimbursement of out-of-pocket expenses) payable to Sri M Nagarajan, Cost Auditor (Firm Registration No. 102133) for conducting audit of Cost Records for financial year ending March 31, 2026 was ratified and confirmed.

Voting and Scrutinizer Arrangements

  • Mr R Dhanasekaran, Practicing Company Secretary, appointed as Scrutinizer for e-voting
  • Results of remote e-voting to be uploaded on company website on or before August 12, 2026
  • Members could cast votes during meeting until 15 minutes after conclusion

Meeting Conclusion

The 36th Annual General Meeting concluded at 11:48 AM with a vote of thanks by Sri S Seshadri, CFO.