Company Communication Summary
Girnar Spintex Industries Limited submitted a comprehensive filing to BSE Limited and National Stock Exchange of India Limited regarding the outcome of its Board Meeting held on August 14-15, 2025, and the integrated financial filing for the quarter ended June 30, 2025.
Date and Nature of Communication
The communication was dated August 15, 2025, and was addressed to both stock exchanges. The document served as a regulatory compliance submission following the Board Meeting that commenced on August 14, 2025 (4:00 PM IST) and concluded on August 15, 2025 (7:10 PM IST).
Board Meeting Outcomes
The Board of Directors approved two key items:
1. Unaudited Standalone Financial Results of the Company for the quarter ended June 30, 2025
2. Appointment of M/s. Shrenik Nagaonkar & Associates as Secretarial Auditor of the company for a term of five consecutive years (FY 2025-26 to 2029-30), subject to approval of members at the ensuing Annual General Meeting
Regulatory Compliance Disclosure
The company filed pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements), 2015, including:
- Unaudited Standalone Financial Results and Integrated Filing of Financials for Q1 FY26
- Limited Review Report on Unaudited Standalone Financial Results issued by Statutory Auditors
- Disclosure under Regulation 30 of SEBI LODR regarding appointment of Secretarial Auditor
Financial Results Clarification
The Unaudited Standalone Financial Results for Q1 FY26 showed:
- Total Income: ₹2,574.98 lakh
- Total Expenses: ₹2,609.34 lakh
- Loss before tax: ₹(34.36) lakh
- Loss for the period: ₹(34.36) lakh
- Basic and Diluted EPS: ₹(1.25) per share
Comparative figures for Q1 FY25 showed profit of ₹587.92 lakh and EPS of ₹21.57.
Secretarial Auditor Appointment Details
- Name: M/s. Shrenik Nagaonkar & Associates
- Designation: Secretarial Auditor
- Term: Five consecutive years from conclusion of 33rd AGM to conclusion of 38th AGM
- Brief Profile: Mr. Shrenik Nagaonkar has over 19 years of experience in corporate governance, corporate laws, security laws, and capital markets. He is a fellow member of ICSI and holds an MBA with specialization in Finance.
- Relationships between directors: NIL
- Equity shares held: NIL
Additional Compliance Disclosures
The integrated filing included:
- No deviation or variation in proceeds of public/rights/preferential issues
- No defaults in payment of outstanding loans and debt securities
- Related party transactions disclosure not applicable (half-yearly filing)
- Impact of audit qualifications not applicable (annual filing requirement)
Limited Review Report Findings
Nenawati & Associates, Chartered Accountants, issued a limited review report stating:
- Review conducted according to Standard on Review Engagements (SRE) 2410
- No material misstatements found in the unaudited financial results
- Financial results prepared in accordance with applicable Ind AS and SEBI regulations
Operational Context Notes
The company operates in a single business segment "textile" and has recently acquired a Fabric Manufacturing unit on slump sale basis effective from March 31, 2025, which contributed approximately 68% of revenue during the period.