Company Overview
Shri Dinesh Mills Limited, a manufacturer of industrial fabrics for over 45 years, announced its 91st Annual General Meeting to be held on August 14, 2026 via video conferencing. The AGM will address key agenda items including adoption of FY26 financial results, declaration of final dividend, re-appointment of directors, and appointment of new statutory auditors.
Financial Performance
Standalone Results: Revenue from operations increased marginally to ₹67.33 crore (from ₹66.30 crore in FY25) while net profit declined to ₹8.71 crore (from ₹10.50 crore) due to increased overhead expenses. The company declared a final dividend of ₹1.50 per equity share.
Consolidated Results: The group reported a net profit of ₹46.72 lakh compared to a loss of ₹563.59 lakh in FY25, with revenue declining to ₹1,623.21 lakh. Total debt stood at ₹611.77 lakh with gearing ratio improving to 2.96% from 3.78% in FY25.
Corporate Actions and Subsidiary Updates
The company disposed of its entire investment in subsidiary Dinesh Remedies Limited on September 3, 2025, resulting in derecognition loss accounted under exceptional items. The consolidated financial statements include subsidiaries Fernway Technologies Limited and Stellent Chemicals Industries Limited, plus associate McGean Chemicals India Private Limited (26% holding).
Promoters executed a Family Settlement Agreement in April 2026 between Bharatbhai Patel & Aditya Patel (BUP Family) and Nimishbhai Patel & Nishank Patel (NUP Family). The board granted in-principle approval for demerger of the FELT business into a separate legal entity, subject to NCLT and regulatory approvals.
Governance and Appointments
The company proposed appointment of M/s. Dhirubhai Shah & Co., LLP as Statutory Auditors for a five-year term starting FY27. Board changes included cessation of Shri Sanjiv Shah as Independent Director and appointment of Mrs. Tejal Rahul Amin as Non-Executive Independent Director.
Shareholding and Dividend
Promoters & relatives hold 49.79% of shares, with public holding at 43.68%. Unclaimed dividend for FY 2017-2018 has been transferred to IEPF, while FY 2018-2019 dividend will be transferred if unclaimed by October 1, 2026. Dividend payments will be made electronically through NEFT/RTGS only.
Operational Highlights
The company manufactures industrial fabrics for domestic and international markets. McGean Chemicals India Private Limited (associate) manufactures lubricants, aerosols, and specialty chemicals for industrial use serving Defense, Railways, and OEMs. Total comprehensive income for FY26 stood at ₹8.50 crore compared to ₹9.71 crore in previous year.