Event Details

The 19th Annual General Meeting (AGM) of Lorenzini Apparels Limited was held on Friday, September 18, 2026, through Video Conferencing/Other Audio-Visual Means. The meeting commenced at 04:00 PM IST and concluded at 04:25 PM IST.

Attendance

Directors/Key Managerial Personnel Present:

  • Mr. Sandeep Jain, Chairman, Managing Director and Chief Financial Officer
  • Mr. Rajit Sehgal, Non-Executive Director
  • Mr. Ish Sadana, Independent Director
  • Mrs. Monam Kapoor, Independent Director
  • Ms. Supreet Kaur Rekhi, Non-Executive Director
  • Ms. Sapna Khanna, Independent Director
  • Ms. Neha Singhal, Company Secretary & Compliance Officer

Other Representatives Present:

  • Mr. Anuj Gupta, Practicing Company Secretary, Secretarial Auditor and Scrutinizer
  • Representatives of M/s. Mittal & Associates, Chartered Accountants (Statutory Auditors for FY ended March 31, 2026)
  • Representatives of M/s. A D M S & Associates, Chartered Accountants (Statutory Auditors appointed to fill casual vacancy)
  • Representatives of M/s. KMRG & Associates, Internal Auditor

Quorum: 41 members were present through VC/OAVM, confirming requisite quorum under Section 103 of the Companies Act, 2013.

Financial Performance Update

Chairman Mr. Sandeep Jain provided operational highlights for Financial Year 2025-26:

  • Profit after tax: ₹435.28 lakh (compared to ₹583.64 lakh in previous year)
  • Earnings per share: ₹0.25 (compared to ₹0.34 in FY 2024-25)
  • 16.85% decline in profit attributed to ongoing Middle East crisis affecting third-party manufacturers' ability to import raw materials
  • No dividend recommended for FY 2025-26 due to funding requirements for future business opportunities

Agenda Items and Resolutions

The following resolutions were presented for voting:

1. Ordinary Resolution: Adoption of audited financial statements for FY ended March 31, 2026, together with Reports of Board of Directors and Auditors

2. Ordinary Resolution: Re-appointment of Mrs. Supreet Kaur Rekhi (DIN: 10409347) as Director liable to retire by rotation

3. Special Resolution: Approval for change of company name from Lorenzini Apparels Limited to MONTEIL LIMITED, with consequent alteration to Memorandum of Association and Articles of Association. Rationale: To reflect more contemporary brand identity without affecting company's business, objects, legal status or stakeholder rights. Change already approved by Registrar of Companies.

4. Ordinary Resolution: Regularization of appointment of M/s. A D M S & Associates, Chartered Accountants, as Statutory Auditors, appointed by Board to fill casual vacancy caused by resignation of M/s. Mittal & Associates

5. Ordinary Resolution: Appointment of M/s. A D M S & Associates, Chartered Accountants, as Statutory Auditors for five-year term from conclusion of 19th AGM until conclusion of 24th AGM (2031), with authorization to Board to fix their remuneration

Voting Process

The company availed services of Central Depository Services (India) Limited (CDSL) for remote e-voting and e-voting during AGM. Members present at AGM who had not cast votes through remote e-voting were provided opportunity to vote through e-voting system for 15 minutes after meeting conclusion.

Mr. Anuj Gupta, Scrutinizer, will scrutinize all votes and submit consolidated Scrutinizer's Report to Chairman. Resolutions shall be deemed passed on September 18, 2026, subject to receipt of requisite majority. Voting results with Scrutinizer's Report will be declared within statutory timelines, hosted on company website (www.monteil.in), and communicated to stock exchanges.