The Board of Directors of Siyaram Silk Mills Limited held a meeting on 30th July, 2026 that commenced at 4:30 PM and concluded at 9:45 PM. The board took several key decisions:

1. Financial Results Approval

The Board approved the Unaudited Financial Results (Standalone and Consolidated) for the quarter ended 30th June, 2026. The results were reviewed by the Audit Committee and Statutory Auditors M/s. Jayantilal Thakkar & Co., Chartered Accountants (Firm Reg No. 104133W) who issued an Independent Auditor's Report.

Standalone Financial Results (₹ in Lakhs):

  • Revenue from Operations: ₹44,456.96
  • Total Income: ₹46,625.45
  • Total Expenses: ₹45,161.92
  • Profit Before Tax: ₹1,463.53
  • Total Tax Expenses: ₹338.60 (Current Tax: ₹215.00, Deferred Tax: ₹123.60)
  • Profit for the Period: ₹1,124.93
  • Other Comprehensive Income (Net of Tax): ₹(22.45)
  • Total Comprehensive Income: ₹1,102.48
  • Paid-up Equity Share Capital: ₹907.40 (Face Value ₹2 each)

Consolidated Financial Results (₹ in Lakhs):

  • Revenue from Operations: ₹44,566.02
  • Total Income: ₹46,734.51
  • Total Expenses: ₹45,294.81
  • Profit Before Tax: ₹1,439.70
  • Total Tax Expenses: ₹338.60 (Current Tax: ₹215.00, Deferred Tax: ₹123.60)
  • Profit for the Period: ₹1,101.10
  • Other Comprehensive Income (Net of Tax): ₹(5.29)
  • Total Comprehensive Income: ₹1,095.81
  • Earnings Per Share (Basic & Diluted): ₹2.43
  • Paid-up Equity Share Capital: ₹907.40 (Face Value ₹2 each)

2. NCLT Scheme Implementation

The Board took on record the certified copy of the order dated 21st July, 2026 from the Hon'ble National Company Law Tribunal, Mumbai Bench sanctioning the Scheme of Arrangement between Siyaram Silk Mills Limited and its shareholders under Section 230 and other applicable provisions of the Companies Act, 2013. The Company filed Form INC-28 with the Registrar of Companies, Mumbai, Maharashtra, making the Scheme effective from 30th July, 2026.

Scheme Details:

  • The Company will allot preference shares by way of bonus utilizing general reserves
  • Eligibility: Equity shareholders recorded in register of members/depository records on Record Date
  • Allotment Ratio: 7 preference shares for every 1 equity share (face value ₹2 each)
  • Series I: 4 shares of ₹10 each, 9% cumulative non-convertible redeemable, redeemable within 3 years from allotment
  • Series II: 3 shares of ₹10 each, 9% cumulative non-convertible redeemable, redeemable within 5 years from allotment
  • Record Date fixed: 22nd August, 2026

3. Authorized Share Capital Increase

Consequent to the Scheme effectiveness, the authorized share capital automatically increased:

  • Previous: ₹12,00,00,000 comprising:
  • 5,50,00,000 equity shares of ₹2 each
  • 25,000 11% redeemable cumulative preference shares of ₹100 each
  • 7,50,000 redeemable preference shares of ₹10 each
  • New: ₹3,28,84,06,160 comprising:
  • 5,50,00,000 equity shares of ₹2 each
  • 25,000 11% redeemable cumulative preference shares of ₹100 each
  • 31,75,90,616 redeemable preference shares of ₹10 each

The existing Clause V of the Memorandum of Association has been replaced accordingly. Necessary filings have been made with the Registrar of Companies, Mumbai, including the amended Memorandum of Association.

4. Additional Disclosures

  • The financial results were prepared in accordance with Indian Accounting Standards (Ind AS)
  • Cost towards Development of Property of ₹2,455.66 Lakhs relates to a one-off residential property development project at Dombivali, Thane, Maharashtra
  • The Company/Group is mainly engaged in Textile business with no other reportable segments as per Ind AS 108
  • The consolidated results include foreign subsidiary Cadini S.R.L. which reported total income of ₹109.04 Lakhs and net loss of ₹23.83 Lakhs for the quarter
  • The auditor's report included an Emphasis of Matter regarding Cadini S.R.L.'s recurring losses and reduced net worth