AGM Details

The 35th Annual General Meeting will be held on Thursday, August 13, 2026 at 11:00 AM IST through video conferencing/other audio-visual means. The cut-off date for determining members entitled to vote is Thursday, August 6, 2026.

Business Items for AGM

Ordinary Business:

1. Adoption of audited financial statements for FY 2025-26

2. Re-appointment of Mrs. Shashi Agarwal (DIN: 06687549) who retires by rotation

3. Re-appointment of M/s Raghu Nath Rai & Co. as Statutory Auditors for 5 years from conclusion of 35th AGM to conclusion of 40th AGM, at remuneration not exceeding ₹10,00,000 per financial year

Special Business:

4. Authorization for borrowing up to ₹100 crores (including already borrowed money) under Section 180(1)(c) of Companies Act, 2013

5. Approval for material related party transactions with Shivalik Prints Limited for aggregate value not exceeding ₹300 crores until next AGM in 2027

6. Authorization for investments/loans/guarantees up to ₹250 crores under Section 186 of Companies Act, 2013

7. Authorization for loans/guarantees to directors-related persons up to ₹100 crores under Section 185 of Companies Act, 2013

8. Re-appointment of Mr. Mukesh Kumar Aggarwal (DIN: 00231651) as Managing Director for 5 years from May 15, 2026 to May 14, 2031 at remuneration of ₹41,66,667 per month

9. Re-appointment of Mr. Sudeepta Ranjan Rout (DIN: 05106254) as Independent Director for second term of 5 years from July 10, 2026 to July 9, 2031

10. Re-appointment of Mr. Varun Bansal (DIN: 09233433) as Independent Director for second term of 5 years from July 10, 2026 to July 9, 2031

11. Re-appointment of Mr. Vikash Jalan (DIN: 09234205) as Independent Director for second term of 5 years from July 10, 2026 to July 9, 2031

Financial Performance (Standalone)

FY 2025-26 Highlights:

  • Revenue from operations: ₹6,954.01 lakhs (FY 2024-25: ₹13,942.23 lakhs)
  • Other income: ₹1,924.10 lakhs (FY 2024-25: ₹1,377.38 lakhs)
  • Total revenue: ₹8,878.11 lakhs (FY 2024-25: ₹15,319.61 lakhs)
  • Profit before interest and depreciation: ₹987.98 lakhs (FY 2024-25: ₹1,765.71 lakhs)
  • Finance charges: ₹52.61 lakhs (FY 2024-25: ₹167.39 lakhs)
  • Depreciation: ₹325.43 lakhs (FY 2024-25: ₹303.08 lakhs)
  • Profit before tax: ₹609.94 lakhs (FY 2024-25: ₹1,295.24 lakhs)
  • Tax expense: (₹96.16) lakhs (credit) (FY 2024-25: ₹316.09 lakhs expense)
  • Net profit after tax: ₹706.10 lakhs (FY 2024-25: ₹979.15 lakhs)
  • Earnings per share: ₹2.43 (FY 2024-25: ₹3.38)

Balance Sheet Position as at March 31, 2026:

  • Paid-up equity share capital: ₹29.00 crores (2,90,00,004 equity shares of ₹10 each)
  • Net worth: ₹21,604.62 lakhs
  • Total assets: ₹23,508.62 lakhs
  • Current ratio: 5.74 (FY 2024-25: 10.22)
  • Return on equity: 3.32% (FY 2024-25: 4.80%)

Operational Highlights

The company is a leading exporter of knitted fabric and knitted garments to US and European markets. FY 2025-26 was challenging due to subdued domestic and export demand, pricing pressures, volatile raw material prices, and increased competition. The company altered its Memorandum of Association to include real estate business but did not commence operations in this segment during the year.

Dividend

No dividend declared for FY 2025-26 to conserve resources.

Corporate Governance

Board Composition:

  • Mr. Mukesh Kumar Aggarwal (Managing Director)
  • Mrs. Shashi Agarwal (Wholetime Director)
  • Mr. Vijay Kumar Jindal (Director)
  • Mr. Sudeepta Ranjan Rout (Independent Director)
  • Mr. Varun Bansal (Independent Director)
  • Mr. Vikas Jalan (Independent Director)

Key Managerial Personnel:

  • Mrs. Komal Adlakha (Chief Financial Officer)
  • Mr. Vishal Srivastava (Company Secretary & Compliance Officer)

Board Committees:

  • Audit Committee: Mr. Sudeepta Ranjan Rout (Chairperson), Mr. Mukesh Kumar Aggarwal, Mr. Varun Bansal, Mr. Vikas Jalan
  • Nomination and Remuneration Committee: Mr. Sudeepta Ranjan Rout (Chairperson), Mr. Varun Bansal, Mr. Vikas Jalan
  • CSR Committee: Mr. Sudeepta Ranjan Rout (Chairperson), Mr. Mukesh Kumar Aggarwal, Mrs. Shashi Agarwal
  • Stakeholder Relationship Committee: Mr. Sudeepta Ranjan Rout (Chairperson), Mr. Mukesh Kumar Aggarwal, Mr. Varun Bansal, Mr. Vikas Jalan

Auditors

  • Statutory Auditors: M/s Raghu Nath Rai & Co., Chartered Accountants (FRN: 000451N)
  • Secretarial Auditors: M/s Agarwal S. & Associates, Company Secretaries (Firm Registration Number: P2003DE049100)
  • Internal Auditors: M/s Vatss & Associates, Chartered Accountants

Related Party Transactions

Material related party transactions with Shivalik Prints Limited (promoter group entity) amounting to ₹300 crores proposed for approval. Actual transactions during FY 2025-26:

  • Purchases: ₹4,090.10 lakhs
  • Job work income: ₹2,201.19 lakhs

CSR Activities

CSR expenditure of ₹35.30 lakhs against obligation of ₹35.17 lakhs (2% of average net profit of preceding three years). Areas of expenditure: healthcare, social welfare, animal welfare, and education.

Shareholding Pattern

As on March 31, 2026:

  • Promoter & promoter group: 73.11% (74.97% in previous year)
  • Public shareholding: 26.89%
  • 97.00% shares in dematerialized form

Registrars and Share Transfer Agents

KFin Technologies Limited

Legal Proceedings

The company had successfully challenged an order from the Ministry of Corporate Affairs regarding change of company name. The Hon'ble High Court of Delhi quashed the order dated December 3, 2024, on November 24, 2025.

E-Voting Arrangements

Remote e-voting will be available from August 9, 2026 (10:00 AM) to August 12, 2026 (5:00 PM) through KFin Technologies Limited. Mr. Sachin Agarwal and Mrs. Shweta Jain of Agarwal S. & Associates appointed as Scrutinizers.

Important Dates

  • Book closure: August 7, 2026 to August 13, 2026 (both days inclusive)
  • E-voting period: August 9, 2026 (10:00 AM) to August 12, 2026 (5:00 PM)
  • AGM date: August 13, 2026 at 11:00 AM