AGM Details and Corporate Actions

  • 41st AGM Date: September 4, 2026 at 5:00 PM IST via Video Conferencing
  • E-voting Period: September 1-3, 2026; Record Date: August 28, 2026
  • Key Resolutions: Adoption of FY26 financial statements, re-appointment of Mr. Sanjay Anand as Whole-time Director, appointment of Mr. Mohit Solanki as Independent Director for 5 years
  • Special Business: Approval to increase borrowing limits to ₹1,000 crores under Section 180(1)(c) and creation of security interests on company assets to support working capital, capex, and corporate requirements

Financial Performance Highlights (FY 2025-26)

Standalone Performance:

  • Revenue from operations: ₹860.11 crores (FY25: ₹658.91 crores)
  • Profit after tax: ₹28.05 crores (FY25: ₹39.83 crores)
  • EPS: ₹11.53 (FY25: ₹16.38)
  • Property, plant and equipment: ₹321.95 crores net block

Consolidated Performance:

  • Revenue from operations: ₹923.07 crores (33% YoY growth from ₹689.94 crores)
  • Profit after tax: ₹33.57 crores (FY25: ₹40.66 crores)
  • EPS: ₹13.80 (FY25: ₹16.72)
  • EBITDA: ₹92.24 crores (margin pressure from 13.38% to 9.99% due to forex volatility)

Key Financial Position and Investments

  • Total Borrowings: ₹251.45 crores standalone, ₹269.96 crores consolidated
  • Cash and Equivalents: ₹10.57 crores standalone, ₹13.12 crores consolidated
  • Investments: Significant increase in mutual fund investments to ₹17.66 crores, primarily in Nippon India ETF Gold Bees
  • Capital Work-in-Progress: ₹12.43 crores for projects with less than 1-year duration
  • Property Revaluation: Freehold and leasehold land revalued, creating revaluation reserve of ₹52.07 crores

Financing Activities and Subsidiary Operations

  • Term Loan: Secured ₹40 crore term loan from HDFC Bank, repayable in 60 monthly installments at 7.75% interest
  • Supplier Financing: Implemented program with ₹24.08 crore outstanding in supplier bills discounting at 6-7% interest
  • Subsidiary Support: Provided ₹45.61 crores loan to Mats and More Private Limited at 8.50% interest for working capital
  • Subsidiary Performance: Faze Three US LLC generated revenue of USD 10.91 million (₹98.39 crores) with PAT of USD 0.61 million (₹5.84 crores)

Corporate Governance and CSR

  • Board Composition: 7 directors including Mr. Ajay Anand (Chairman & MD), Mr. Sanjay Anand (Whole-time Director), and independent directors
  • Committee Changes: Mr. Mohit Solanki to chair Nomination & Remuneration, Audit, and Stakeholders Relationship committees
  • CSR Contribution: ₹1.32 crores spent (exceeding ₹1.15 crore obligation) supporting Gurukulam educational initiatives
  • Credit Rating: Reaffirmed at 'CARE A (Stable)/A1' by CARE Ratings Ltd.

Manufacturing and Operational Details

  • Production Units: Located at Silvassa, Vapi, Panipat (3 units), Chhatrapati Sambhajinagar, and New York, USA
  • Business Segment: Single segment - Manufacturing of home textile products (bathmats, rugs, throws, curtains)
  • Geographical Revenue: Major export markets - USA (₹511.32 crores), Europe (₹119.80 crores), UK (₹39.41 crores)

Auditors and Compliance

  • Statutory Auditors: MSKA & Associates LLP (unmodified audit opinion)
  • Secretarial Auditors: Sanjay Dholakia & Associates
  • Key Audit Matter: Revenue recognition and cut-off procedures, foreign currency transactions
  • Compliance Status: No material orders from regulators/courts impacting going concern status

Subsequent Events and Outlook

No significant subsequent events between March 31, 2026 and signing of financial statements. The company focuses on retaining resources for growth objectives rather than dividend distribution, with enhanced borrowing capacity supporting future expansion plans.