Acknit Industries Ltd

ACKNIT INDUSTRIES LIMITED - Trading Window Closed from 01 October 2026 till 48 hours after the declaration of Unaudited Financial Results for the quarter and half year ended 30 September 2026

Independent Directors Appointments

• Re-appointment of Rajarshi Ghosh as Non-Executive Independent Director for 30 Jun 2026–29 Jun 2031.
• Appointment of Tushar Jhunjhunwala as Non-Executive Independent Director for 14 Jul 2026–13 Jul 2031.
• Appointment of Amitava Mazumder as Non-Executive Independent Director for 14 Jul 2026–13 Jul 2031.
• All three approvals were via Special Resolution at AGM held 16 Sep 2026.
• Regulatory disclosures under Reg 30/Schedule III provided earlier (27 May 2026 and 14 Jul 2026).

AGM details

• Date 16-09-2026; Start 11:30 AM; End 12:20 PM; Mode: VC/OAVM

Key resolutions

• Resolution 1 (Ordinary): Adoption of audited financial statements and reports
• Resolution 2 (Ordinary): Dividend declaration for FY ended 31 Mar 2026; Rs 1.50 per equity share
• Resolution 3 (Ordinary): Re-appointment of Kishan Saraf as director by rotation
• Resolution 4 (Special): Re-appointment of independent director for five-year term
• Resolution 5 (Special): Appointment of Mr. Tushar Jhunjhunwala as Non-Executive Director for five years
• Resolution 6 (Special): Appointment of Mr. Amitava Ma... as Non-Executive Director for five years

Voting results

• Resolution 1: Passed
• Resolution 2: Passed
• Resolution 3: Passed
• Resolution 4: Passed
• Resolution 5: Passed
• Resolution 6: Passed

Dividend

• Dividend proposed/approved: Rs 1.50 per equity share

Director changes

• Re-appointment of Kishan Saraf as director by rotation
• Independent director re-appointment for five years
• Tushar Jhunjhunwala appointed Non-Executive Director for five years
• Amitava Ma... appointed Non-Executive Director for five years

Auditors

• No change in statutory auditors disclosed

AGM Details

• 36th AGM held on 16 September 2026 at 11:30 AM IST via VC/OAVM, concluded at 12:20 PM.

Resolutions

• Adoption of Audited Financial Statements for FY ended 31 March 2026; final results to be announced.
• Declaration of dividend of Rs 1.50 per equity share.
• Special: Re-appointment of Deo Kishan Saraf as Director.
• Re-appointment of Rajarshi Ghosh as Non-Executive Independent Director for second term.
• Appointment of Tushar Jhunjhunwala as Non-Executive Independent Director for five years.
• Appointment of Amitava Mazumder as Non-Executive Independent Director for five years.

Auditors

• Statutory auditors attended; no change in appointment announced.

Voting status

• Final voting results to be announced after Consolidated Scrutinizers’ Report.

Event

• Demise of Independent Director Shankar Lal Bajaj on 21 August 2026 triggers withdrawal.

Details

• The proposed re-appointment for a second five-year term from 25 September 2026 is withdrawn.

Impact and next steps

• The resolution will not be put to vote at the AGM on 16 September 2026.
• The AGM notice and related documents will be updated accordingly.

Demise of Independent Director

• Mr. Shankar Lal Bajaj, Independent Director.
• Category: Independent Director.
• Date of demise: 21 August 2026.
• Cessation of Directorship effective 21 August 2026.
• Vacancy to be filled within the statutory period.
• Intimation to exchanges filed on 26 August 2026.

Dividend & AGM Details

• Final dividend of Rs 1.50 per equity share for FY2025-26, subject to AGM declaration.
• Type of security: Equity shares.
• Record date: 09 September 2026.
• Book closure: 10 September 2026 to 16 September 2026 (inclusive).
• Dividend payment to shareholders with updated bank details; others after KYC.
• Tax: TDS deducted at source under IT Act 2025.
• IEPF transfer: unclaimed dividends after 7 years to IEPF by 24 Oct 2026.
• AGM to be held via VC/OAVM.

Financial snapshot

• Total revenue 24,076.43 Lakhs; YoY flat at -0.03%.
• PAT 818.41 Lakhs; down from 899.51.
• Total comprehensive income 833.90 Lakhs; down from 894.46.
• EPS 26.92 Rs; decline from 29.59.
• Dividend proposed: Rs 1.50 per share (15%).
• PBT 1,091.70; tax 273.29; PAT 818.41.
• Share capital 30.40 million; paid-up 304 Lakhs.

Segment performance

• Hand Gloves revenue 12,691.72; segment profit 1,426.99.
• Garments revenue 8,969.39; segment profit 486.34.
• Power Generation revenue 30.24; segment loss 20.58.
• Others/Traded Items revenue 2,351.26; segment profit 62.35.
• Total segment profit 1,955.10; unallocated expenses 480.05; PBT 1,091.70.

Dividend & capital allocation

• Final dividend 1.50 per equity share proposed.
• Dividend payable to shareholders registered by 09-Sep-2026; gross 45.60 Lakhs.
• General Reserve increased by 500 Lakhs to 7,000.00.
• Retained earnings 1,462.56 Lakhs.
• CSR spend 23.85 Lakhs; 2% avg net profit 23.84; unspent 0.

Debt & liquidity

• Total borrowings 7,070.26 Lakhs; short-term 5,822.04; long-term 1,248.22.
• Current ratio 1.71x; current assets 13,377.87; current liabilities 7,832.70.
• Cash flow: Operating 467.70; Investing -1,227.34; Financing 771.92.
• No default on long-term borrowings; liquidity considered adequate.

Governance & leadership

• Board comprises 8 members; 10 meetings held in FY2025-26.
• Independent Directors appointed: Tushar Jhunjhunwala and Amitava Mazumder.
• Re-appointments: Rajarshi Ghosh and Shankar Lal Bajaj; Deo Kishan Saraf and Abhishek Saraf.
• CS: Sneha Gupta appointed Aug 13, 2025; former Paulami Mukherjee resigned Jun 17, 2025.
• MD re-appointment and terms of directors outlined in notices.

Audit & controls

• Statutory Auditor: SRB & Associates; Internal Auditor: Abhijit Pal; Secretarial Auditor: Rekha Goenka.
• Internal financial controls found adequate; no material weaknesses observed.
• Secretarial audit reports annexed; no qualifications reported.

Related party transactions

• Material RPT: Acme Safety Wears Limited; value 3,609.35 Lakhs; ongoing.
• Related party transactions with Acme entities include sales/purchases; board approvals dated 28-May-2025.
• Disclosures of related party transactions included in annual notes (Form AOC-2).

CSR & ESG

• CSR policy disclosed on company website; CSR report annexed.
• CSR spent 23.85 Lakhs; 2% avg net profit 23.84; excess/shortfall not applicable.
• CSR Committee dissolved; governance aligned with statutory requirements.

Outlook & risks

• Management focuses on PPE expansion: Falta, Banipur, Jhautala facilities.
• Plans to diversify into leather goods, safety gear, helmets; export growth emphasis.
• Risks include margin pressure, FX volatility, raw material costs, supply chain risks.