AGM Details

The 50th Annual General Meeting is scheduled for Tuesday, 22nd September 2026 at 12:00 PM IST at the registered office: D-8, M.I.D.C., Phase II, Manpada Road, Dombivli (E) - 421 203, Dist. Thane, Maharashtra.

Key Quantitative Figures (FY 2025-2026)

  • Revenue from operations: ₹22,604.18 lakhs (previous year: ₹17,184.35 lakhs)
  • Other Income: ₹24.58 lakhs (previous year: ₹34.87 lakhs)
  • Total Revenue: ₹22,628.76 lakhs (previous year: ₹17,219.22 lakhs)
  • Profit before Interest, Depreciation and Tax: ₹601.75 lakhs (previous year: ₹482.95 lakhs)
  • Tax Expenses: ₹141.66 lakhs (previous year: ₹92.86 lakhs)
  • Profit after Tax: ₹460.09 lakhs (previous year: ₹390.09 lakhs)
  • Other Comprehensive Income: ₹7.32 lakhs (previous year: ₹1.90 lakhs)
  • Total Comprehensive Income: ₹467.41 lakhs (previous year: ₹392.00 lakhs)
  • Earnings per share (Basic & Diluted): ₹10.95 (previous year: ₹9.29)

Share Capital Structure

  • Authorized Share Capital: ₹5,00,00,000 divided into 5,00,000 equity shares of ₹10 each
  • Issued, Subscribed and Paid-up Equity Share Capital: ₹4,19,84,000 divided into 41,98,400 equity shares of ₹10 each
  • 71.39% of shares (29,98,200 shares) held in dematerialized form
  • 28.61% of shares (12,01,800 shares) held in physical form

Board and Management Changes

  • Ms. Shruti Saraf ceased as Independent Non-Executive Woman Director w.e.f. 27th May 2026
  • Ms. Shruti Somani (DIN: 10329346) appointed as Additional Non-Executive Independent Director w.e.f. 26th June 2026
  • Mr. Vinod Lath (Managing Director) retiring by rotation and seeking re-appointment
  • Key Managerial Personnel: Mr. Vinod Lath (MD), Mr. Pradeep Roongta (Whole-Time Director & CFO), Mr. Sourabh Sahu (Company Secretary & Compliance Officer)

Auditor Appointments and Remuneration

  • Statutory Auditors: M/s. V.K. Beswal & Associates, Chartered Accountants (continuing for term until 52nd AGM)
  • Cost Auditor: M/s. Shanker Chaudhary & Co. appointed for FY 2026-2027 at remuneration of ₹1,50,000 p.a. plus applicable taxes
  • Internal Auditor: M/s. Chetan Jain & Associates, Chartered Accountants
  • Secretarial Auditor: M/s. HSPN & Associates LLP, Company Secretaries

Dividend and Reserves

  • No dividend recommended for FY 2025-2026 to conserve reserves
  • No amount transferred to General Reserve - entire profit carried forward to Profit & Loss Reserve Account

Manufacturing Operations

The company operates integrated textile manufacturing units:

  • Spinning Unit: S. F. No. 324/1, Karungal Village, Vedasandur Taluk, Dist. Dindigul, Tamil Nadu
  • Weaving Unit: Plot No. 60-B, Parvati Industrial Area, Yadrav, Ichalkaranji
  • Processing Unit: D-8, MIDC, Phase II, Manpada Road, Dombivli (E), Dist. Thane

Bankers and Professional Appointments

  • Banker: Standard Chartered Bank
  • Share Transfer Agents: MUFG Intime India Private Limited (formerly Link Intime India Private Limited)
  • Registrar: MUFG Intime India Private Limited, C-101, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai - 400083

E-Voting Schedule for AGM

  • Cut-off date: 15th September 2026
  • Remote e-voting period: 19th September 2026 (9:00 AM) to 21st September 2026 (5:00 PM)
  • AGM e-voting: 22nd September 2026 during meeting hours

Business Resolutions

1. Approval of audited financial statements for year ended 31st March 2026

2. Re-appointment of Mr. Vinod Lath as Managing Director

3. Regularization of Ms. Shruti Somani as Non-Executive Independent Director

4. Ratification of remuneration payable to Cost Auditor for FY 2026-2027

Key Financial Ratios (FY 2025-2026 vs FY 2024-2025)

  • Current Ratio: 1.26 vs 1.24
  • Debt-Equity Ratio: 0.65 vs 1.12
  • Inventory Turnover Ratio: 6.98 vs 4.15
  • Trade Receivables Turnover Ratio: 3.61 vs 3.93
  • Net Profit Ratio: 0.02 vs 0.02
  • Return on Capital Employed: 0.20 vs 0.21

Contingent Liabilities

  • Disputed Customs Duty: ₹3.36 crore
  • Disputed TNVAT liability: ₹28.04 lakhs (including penalty of ₹20.82 lakhs)
  • Disputed GST for FY 2017-18 to 2019-20: ₹232.11 lakhs
  • Bank Guarantees: Outstanding amount not quantified

Related Party Transactions

Transactions with related parties including Sunil Exim Private Limited, Sunil Fabrics Private Limited, and others involving loans, interest payments, and remuneration to directors' relatives.

Corporate Governance Compliance

The company has complied with corporate governance requirements except for Regulation 31(2) regarding dematerialization of promoters' shareholding, which is in process.

Energy Conservation Initiatives

  • Commissioned 670 kW rooftop solar asset at spinning unit in Tamil Nadu
  • Reduced CO₂ emissions by 370.68 metric tonnes annually
  • Various energy efficiency measures implemented across units