1. Approval of Un-Audited Financial Results for Q1 FY27

The Board of Directors approved the un-audited financial results for the quarter ended June 30, 2026, along with the Limited Review Report by the statutory auditor. The results show:

Financial Performance (Amount in ₹ Lakhs):

  • Revenue from operations: ₹2,614.26 (compared to ₹2,807.68 in Q1 FY26 and ₹3,357.02 in Q4 FY26)
  • Other income: ₹18.53 (compared to ₹43.91 in Q1 FY26 and ₹53.23 in Q4 FY26)
  • Total income: ₹2,632.79 (compared to ₹2,851.58 in Q1 FY26 and ₹3,410.25 in Q4 FY26)
  • Total expenses: ₹2,564.07 (compared to ₹2,714.67 in Q1 FY26 and ₹3,541.00 in Q4 FY26)
  • Profit before tax: ₹68.72 (compared to ₹136.92 in Q1 FY26 and loss of ₹233.41 in Q4 FY26)
  • Total tax expense: ₹16.54 (compared to ₹35.33 in Q1 FY26 and tax benefit of ₹32.47 in Q4 FY26)
  • Profit for the period: ₹52.18 (compared to ₹101.59 in Q1 FY26 and loss of ₹200.94 in Q4 FY26)
  • Earnings per share (basic): ₹0.35 (compared to ₹0.72 in Q1 FY26 and loss of ₹1.30 in Q4 FY26)
  • Earnings per share (diluted): ₹0.35 (compared to ₹0.69 in Q1 FY26 and loss of ₹1.30 in Q4 FY26)
  • Paid-up equity share capital: ₹1,499.58 lakhs (unchanged from previous periods)

The company operates in one reportable business segment: Manufacturing & Wholesale (Trading) of Grey cloth.

2. Resignation of Statutory Auditor

The Board accepted the resignation of M/s. Shah Kailash and Associates LLP, Chartered Accountants (FRN: 109647W) as statutory auditors effective August 10, 2026. The resignation reason cited was the firm's increasing professional commitments and workload making it difficult to devote requisite time and resources to a listed entity. The auditor confirmed no disagreements with management on accounting policies, auditing procedures, or financial reporting matters. The audit committee and board will consider appointing new statutory auditors to fill the casual vacancy.

3. Appointment of Internal Auditor

The Board approved the appointment of M/s. Prit Agrawal & CO., Chartered Accountants (FRN: 152249W) as Internal Auditor for the financial year 2026-27. The firm is based in Ahmedabad, Gujarat and provides services including direct & indirect taxation, statutory audit/tax audit, concurrent audit, business advisory services, corporate services, and insolvency & bankruptcy related services.

4. Additional Disclosures

The Board took note of various compliances made during the quarter ended June 30, 2026.

The company forfeited 25% of the amount received against 91,479 warrants as the 18-month period for conversion expired on June 22, 2026. The Board approved cancellation of these warrants and forfeiture of the amount on July 2, 2026.

No investor complaints were pending or received during the quarter ended June 30, 2026.

The Board meeting commenced at 7:00 PM and concluded at 7:35 PM on August 10, 2026.