Event Details
The 6th Annual General Meeting of Saraswati Saree Depot Limited was held on Friday, September 18, 2026, at 4:00 PM IST through Video Conferencing/Other Audio Visual Means (VC/OAVM). The meeting concluded at 4:30 PM IST (excluding e-voting time).
Meeting Conduct and Attendance
The meeting was conducted in accordance with Circulars issued by the Ministry of Corporate Affairs (MCA) and SEBI. All requisite steps were taken to enable member participation and voting. Registers and documents were available for inspection in electronic mode.
Ms. Vidhi Bharat Oswal, Company Secretary and Compliance Officer, welcomed members and briefed them on participation procedures. Mr. Devendra V. Deshpande, proprietor of M/s. DVD & Associates, Practicing Company Secretary, was appointed as scrutinizer for the e-voting process.
Mr. Vinod Dulhani, Managing Director & CEO, was granted leave of absence. Representatives of the Statutory Auditor and Secretarial Auditor were present through VC.
Communication to Shareholders
The Notice of the 6th AGM and Annual Report for FY2025-26 was sent electronically to members with registered email addresses, and physical letters were sent to those without registered emails.
Auditor Reports
The Secretarial Auditor provided an unqualified opinion for FY2025-26. The Statutory Auditor's report contained one qualification, to which the Board has appropriately replied.
Voting Process
Remote e-voting was provided through Bigshare Services Private Limited from September 15, 2026 (9:00 AM IST) to September 17, 2026 (5:00 PM IST). E-voting during the AGM was also available for members who hadn't voted remotely.
Chairman's Address
Mr. Rajesh Dulhani, Chairman, addressed shareholders on behalf of the CEO & Managing Director. Key highlights included:
Financial Performance for FY26:
- Revenue from Operations: ₹6,311.62 million
- EBITDA: ₹378.08 million
- Profit After Tax: ₹234.06 million
- Company remained net debt-free
- Finance costs declined by 56%
- Interim dividend declared: ₹1.515 per share
Business Developments:
- Performance of 15,000 sq. ft. flagship retail outlet in Kolhapur launched in June 2025
- Pilot entry into men's ethnic wear segment during festive season
- Amendment to Memorandum of Association to include real estate development as additional object, approved with 99.95% shareholder votes
Strategic Initiatives:
- Product innovation
- Supply chain efficiency improvements
- Digital adoption and e-commerce expansion
FY27 Priorities:
- Working capital optimization
- Margin enhancement
- Scaling retail and men's ethnic wear initiatives
- Prudent evaluation of real estate opportunities
- Strengthening governance standards
Shareholder Q&A
Shareholder queries were responded to by Mr. Rajesh Dulhani, Chairman.
Resolutions Considered and Approved
The following business items were considered and approved:
1. Ordinary Business - Ordinary Resolution: Adoption of Audited Standalone Financial Statements for FY ended March 31, 2026, together with Reports of Board of Directors and Auditors
2. Ordinary Business - Ordinary Resolution: Re-appointment of Mr. Mahesh Sajandas Dulhani (DIN: 01810089) who retires by rotation
3. Ordinary Business - Ordinary Resolution: Appointment of PPC & Co, Chartered Accountants (FRN: 136439W) as Statutory Auditors for 5 years
4. Special Business - Special Resolution: Re-appointment of Mr. Yatiraj Marda (DIN: 10174363) as Independent Director for 5 years
5. Special Business - Special Resolution: Re-appointment of Mr. Amar Thorat (DIN: 02223782) as Independent Director for 5 years
Voting Results Disclosure
The consolidated voting results will be declared within applicable timelines and made available on:
- Company website: www.saraswatisareedepot.com
- NSE website: www.nseindia.com
- BSE website: www.bseindia.com
- Bigshare Services Private Limited website: https://ivote.bigshareonline.com/landing