Board Meeting Details

The Board meeting commenced at 10:30 AM and concluded at 12:00 Noon on May 28, 2026.

Key Decisions and Approvals

  • Audited standalone accounts for the period ended March 31, 2026, were approved and adopted.
  • No dividend was declared for the financial year ended March 31, 2026.
  • The Directors' Report, Balance Sheet, and Cash Flow Statement for the year ended March 31, 2026, were approved.
  • Notice convening the 47th Annual General Meeting (AGM) on Thursday, August 20, 2026, at 10:00 AM through audio-video means was approved.
  • The Register of Members will be closed from August 14, 2026, to August 20, 2026 (both days inclusive). The cut-off date for e-voting is August 13, 2026.
  • Mr. A. Gopal Iyengar, Cost Accountant, was re-appointed as the Cost Auditor for the financial year commencing April 1, 2026, and ending March 31, 2027.
  • The Board took note of the Annual Secretarial Compliance Report under Regulation 24A and the Secretarial Audit Report under Section 204(1) of the Companies Act, 2013, for FY26.
  • Mr. T Raghuraman was re-appointed as Managing Director for a period of three years, from September 23, 2026, to September 22, 2029.

Financial Performance (Year Ended March 31, 2026)

All figures are in ₹ Lakhs.

Income:

  • Revenue from Operations: ₹16,837.16
  • Other Income: ₹680.21
  • Total Income: ₹17,517.37

Expenditure:

  • Cost of Materials Consumed: ₹11,185.65
  • Purchase of Traded Goods: ₹154.69
  • Changes in Inventories: ₹(67.30)
  • Employee Benefits Expense: ₹1,469.19
  • Finance Costs: ₹1,000.96
  • Depreciation and Amortization: ₹643.26
  • Other Expenses: ₹3,436.75
  • Total Expenditure: ₹17,733.80

Profit/(Loss):

  • Loss from Ordinary Activities before tax: ₹(216.43)
  • Total Tax Expense (Deferred Tax): ₹(69.63)
  • Profit/(Loss) for the Year: ₹(146.80)
  • Other Comprehensive Income (net of tax): ₹5.21
  • Total Comprehensive Income/(Loss) for the Year: ₹(141.59)

Earnings Per Share (FV of ₹10 each):

  • Basic EPS: ₹(1.79)
  • Diluted EPS: ₹(1.79)

Capital Structure:

  • Paid-up Equity Share Capital: ₹792.48 Lakhs
  • Reserves (excluding revaluation reserve): ₹1,049.84 Lakhs

Cash Flow Statement (Year Ended March 31, 2026)

Cash Flow from Operating Activities: ₹2,127.14 Lakhs (Inflow)

Cash Flow from Investing Activities: ₹320.26 Lakhs (Inflow)

Cash Flow from Financing Activities: ₹(2,136.05) Lakhs (Outflow)

Net Increase in Cash and Cash Equivalents: ₹311.35 Lakhs

Cash and Cash Equivalents at Year End: ₹319.36 Lakhs

Related Party Transactions

The disclosure includes a detailed table of related party transactions for FY26, approved by the Audit Committee.

Key transactions include:

  • Purchase of goods from Maris Hotels & Theatres P Ltd: ₹93.14 Lakhs (Approved limit: ₹200 Lakhs)
  • Purchase of goods from A R H Energy LLP: ₹130.99 Lakhs (Approved limit: ₹200 Lakhs)
  • Purchase of goods from Havukal Tea and Produce Co P Ltd: ₹0.38 Lakhs (Approved limit: ₹1 Lakh)
  • Remuneration to Directors T Raghuraman (₹18 Lakhs), Adithya Raghuraman (₹13.5 Lakhs), R Thangamariappan (₹15.67 Lakhs), and R S. Ganappathi (₹21 Lakhs)
  • Remuneration to KMPs N Sridharan (Company Secretary, ₹4.2 Lakhs) and C Srinivasan (CFO, ₹10.68 Lakhs)
  • An unsecured loan of ₹50 Lakhs was given to Managing Director T Raghuraman, bearing interest at 11.12% on demand, for business purposes. The opening and closing balance for this loan was ₹50 Lakhs.

Operational Context

The company operates in a single segment: Cotton Yarn.