Meeting Details
- Date: Wednesday, September 23, 2026
- Time: 11:00 AM (IST)
- Mode: Video Conferencing/Other Audio Visual Means (VC/OAVM)
- Cut-off date for e-voting: September 16, 2026
- E-voting period: September 20, 2026 (9:00 AM) to September 22, 2026 (5:00 PM)
- EVSN: 260817020
- Deemed venue: Corporate Office of the Company
Proposed Resolutions and Implications
Ordinary Business
1. Adoption of Audited Financial Statements: To consider and adopt the audited Financial Statements for FY 2025-26 along with reports of Board of Directors and Auditors.
2. Declaration of Dividend: To declare a dividend of ₹0.60 per equity share for FY 2025-26, involving a cash outflow of up to ₹31.57 lakhs.
3. Re-appointment of Director: Mr. Raghav Agarwal (DIN: 06981525) retires by rotation and seeks re-appointment.
Special Business
4. Remuneration of Cost Auditor: To approve remuneration of ₹30,000 plus applicable taxes to Mr. B Venkateswar for FY 2026-27.
5. Appointment of Managing Director: To appoint Mr. Manoj Kumar Jhajharia (DIN: 00003076) as Managing Director from July 1, 2026 to June 30, 2031 with specified remuneration including basic salary of ₹3.5 lakh/month, perquisites of ₹42 lakh/annum, and commission up to 1% of net profits.
6. Change in Designation and Remuneration: To change Mr. Shyam Lal Agarwala from Chairman & Managing Director to Executive Chairman (Non-Independent) with remuneration of ₹40 lakh for three years from July 1, 2026.
7. Remuneration of Director: To approve remuneration for Mr. Raghav Agarwal including basic salary of ₹3 lakh/month, perquisites of ₹36 lakh/annum, and commission up to 1% of net profits.
8. Appointment of Independent Director: To appoint Mr. Ramasamy M Shanmugam (DIN: 11880982) as Non-Executive Independent Director for a two-year term.
9. Related Party Transactions: To approve material related party transactions with Shristi Cotspinn Private Limited for an amount not exceeding ₹100 crores from AGM 2026 to AGM 2027.
Voting Process and Methods
The company is providing remote e-voting facility through Central Depository Services (India) Limited (CDSL).
- Remote e-voting: Available from September 20, 2026 (9:00 AM) to September 22, 2026 (5:00 PM)
- E-voting during AGM: Available for shareholders attending through VC/OAVM who haven't voted remotely
- Scrutinizer: Mr. B. Krishnamoorthi, Partner of M/s S.Krishnamoorthy & Co., Chartered Accountant
- Voting rights: Proportional to shareholding as on cut-off date (September 16, 2026)
Key Financial Information (FY 2025-26)
- Revenue from operations: ₹5,938.16 lakhs (previous year: ₹6,621.56 lakhs)
- Profit before tax: ₹478.97 lakhs (previous year: ₹553.52 lakhs)
- Profit after tax: ₹156.14 lakhs (previous year: ₹313.31 lakhs)
- Dividend recommended: ₹0.60 per equity share
- Production: 73.64 lakh kgs of cotton yarn (previous year: 48.89 lakh kgs)
- Export sales: ₹4,072.82 lakhs (19.83% decline from previous year)
Compliance and Regulatory Aspects
The document confirms compliance with:
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- Companies Act, 2013
- Ministry of Corporate Affairs Circulars regarding virtual AGMs
- Green Initiative for paperless compliance
All required reports (Statutory Auditors, Secretarial Auditor, Cost Auditor) are included and contain no qualifications.
Additional Information
- Record date for dividend: September 16, 2026
- Dividend payment: Within 30 days of declaration, only through electronic mode
- Share transfer books closure: September 17-23, 2026
- Unclaimed dividend transfer: Dividends unclaimed for 7 years will be transferred to Investor Education and Protection Fund (IEPF)
- Administrative office: No.9, Ramalinga Nagar, 4th Cross, Saibaba Colony, Coimbatore - 641 011
- Registrar & Share Transfer Agent: MUFG Intime India Pvt. Ltd.