Company Overview

Minaxi Textiles Limited (CIN: L17119GJ1995PLC025007) is a publicly listed textile company incorporated on March 14, 1995, engaged in weaving and manufacture of cotton and cotton mixture fabrics, specializing in fancy suiting fabrics including suiting lycra fabric, cotton quilts, broken twill fabric and satin fabric.

31st Annual General Meeting Details

  • Meeting Date: Friday, September 25, 2026 at 2:00 PM
  • Mode: Video Conferencing/Other Audio Visual Means (OAVM)
  • Cut-off Date for Voting Rights: Friday, September 18, 2026
  • E-voting Period: September 22, 2026 (9:00 AM) to September 24, 2026 (5:00 PM)

Ordinary Business

1. To receive, consider and adopt Audited Financial Statements for FY ended March 31, 2026 with Reports of Auditors and Board of Directors

2. To appoint director in place of Shri Dineshkumar P. Patel (DIN: 02268757) who retires by rotation

3. To appoint director in place of Shri Kiritkumar S. Patel (DIN: 00372855) who retires by rotation

Special Business

4. Special Resolution to approve payment of remuneration to Shri Kiritkumar S. Patel, Whole Time Director, amounting to ₹1,00,000 per month (with authorization to increase up to ₹2,00,000 per month) in event of loss or inadequacy of profits during remaining tenure of 2 years of his appointment

Financial Performance Highlights (FY 2025-2026)

| Particulars | FY 2025-2026 (₹ in Lakhs) | FY 2024-2025 (₹ in Lakhs) |

| Revenue from Operations | 2,313.55 | 2,888.47 |

| Other Income | 305.63 | 57.12 |

| Total Revenue | 2,619.17 | 2,945.59 |

| Total Expenditure | 2,374.59 | 3,014.73 |

| Profit/(Loss) Before Tax | 244.58 | (69.14) |

| Tax Expense | 65.83 | (16.37) |

| Profit/(Loss) for the Period | 178.75 | (52.77) |

| Earnings Per Share (₹) | 0.36 | (0.11) |

Key Financial Position as at March 31, 2026:

  • Total Assets: ₹2,202.14 lakhs
  • Equity Share Capital: ₹494.16 lakhs (4.94 crore shares of ₹1 each)
  • Borrowings: ₹1,220.18 lakhs (Secured: ₹1,220.18 lakhs)
  • Trade Receivables: ₹342.00 lakhs
  • Inventories: ₹743.42 lakhs

Director Remuneration Proposal

The special resolution seeks approval for payment of remuneration to Shri Kiritkumar S. Patel, Whole Time Director, at ₹1,00,000 per month (comprising salary, allowance, perquisites etc.) with authorization to Board to increase up to ₹2,00,000 per month during remaining tenure of 2 years in event of loss or inadequacy of profits.

Background: Shri Patel was re-appointed as Whole Time Director for 5 years w.e.f. October 1, 2023 (tenure expires September 30, 2028). His current remuneration is ₹1,00,000 per month.

Board of Directors Composition

  • Chairperson and Whole Time Director: Shri Kiritkumar S. Patel
  • Managing Director: Shri Dineshkumar P. Patel
  • Director: Shri Bharatbhai P. Patel
  • Non Executive Director: Ms. Sweta B. Patel
  • Independent Directors: Shri Snehalkumar R. Patel, Shri Chirag N Shah, Shri Ravikumar Ghanshyambhai Patel, Shri Sandip Viththalbhai Madriya

Corporate Governance

  • Board Meetings: 5 meetings held during FY 2025-2026
  • Audit Committee: Comprises Shri Ravikumar G. Patel (Chairman), Shri Snehalkumar R. Patel, Shri Dineshkumar P. Patel
  • Nomination and Remuneration Committee: Comprises Shri Sandip V. Madriya (Chairman), Shri Snehalkumar R. Patel, Shri Kiritkumar S. Patel
  • Stakeholders Relationship Committee: Comprises Shri Snehalkumar R. Patel (Chairman), Shri Dineshkumar P. Patel, Shri Kiritkumar S. Patel

Key Regulatory Compliance Matters

1. Unclaimed Shares: 12.72 lakh shares remaining in "Minaxi Textiles Limited Unclaimed Suspense Account" as per SEBI Regulation 39(4) compliance

2. SEBI Listing Regulations: Certain corporate governance provisions not applicable as paid-up share capital (₹4.94 crore) and net worth not exceeding thresholds

3. Late Filing: Company paid fine of ₹11,800 for delayed submission of shareholding pattern for September 2025 quarter

Other Material Information

  • Registrar and Share Transfer Agent: MUFG Intime India Private Limited
  • Bankers: Bank of India, Ahmedabad Main Branch
  • Company Secretary & Compliance Officer: CS Priyanka M. Patel
  • Chief Financial Officer: Shri Parind D. Patel (upto 30.06.2025), Ms. Ghanchi Benjir Asgarali (w.e.f. 09.07.2025)

Voting Instructions

Members can vote:

1. Through remote e-voting via CDSL platform from September 22-24, 2026

2. Through e-voting during AGM for those attending via VC/OAVM who haven't voted remotely

3. Physical attendance dispensed with as per MCA circulars