Avax Apparels and Ornaments Ltd

Unaudited results notice

• Board meeting date for declaration of the Unaudited Financial Results will be intimated in due course.

AGM Details

• Date: 18 Sep 2026; Time: 03:30 PM IST; Mode: VC/OAVM.
• Record date: 11 Sep 2026.
• Shareholders on record: 107.
• Attendees via VC: 3 promoters, 4 public.

Key Resolutions

• Ordinary: Adopt standalone financial statements for FY2026 with Directors' and Auditors' reports.
• Ordinary: Re-appoint Harinderpal Singh Sodhi (DIN 09283654) on retirement by rotation.
• Special: Alter Articles of Association and MOA of the company.

Voting Outcomes

• Resolution 1 passed with 100% in favour.
• Resolution 2 passed with 100% in favour.
• Resolution 3 passed with 100% in favour.

Director Changes

• Re-appointment of Harinderpal Singh Sodhi approved.

21st AGM outcomes (Sep 18, 2026)

• Adopted standalone financial statements for year ended March 31, 2026, with Directors' and Auditors' Reports.
• Re-appointed Harinderpal Singh Sodhi as Joint Managing Director, retired by rotation and eligible for re-appointment.
• Approved change of company name and consequential alteration of Memorandum and Articles of Association.

Financial highlights

• Revenue from operations 4,153.15 Lacs; YoY rise from 3,445.64.
• Net profit after tax 296.73 Lacs; EPS 14.28.
• Profit before tax 411.15; tax 116.92; deferred tax (2.50).
• Cash flow from operations negative 250.10 Lacs; dividend not declared.

Capital structure & IPO actions

• Authorized capital raised to ₹50 Cr; post-split 1 crore shares at ₹5.
• Share split from ₹10 to ₹5; paid-up capital ₹103.92 Lacs; 20,78,316 shares.
• Bonus issue 3:1; 62,34,948 shares issued; record date 7 Apr 2026.
• IPO net proceeds ₹171.80 Lacs; used for working capital and corporate purposes.

Corporate actions & name change

• Board approved change of name to Avax Limited; Special Resolution.
• ROC clearance required; certificate from practicing CA attached.
• Company to file necessary forms; operations unchanged post-change.

Business model & operations

• Two segments: wholesale knitted cloth and online silver ornaments.
• Blushines online retail discontinued March 31, 2026; AvaxApparels.shop launched April 1, 2026.
• Focus on manufacturing integration and margin expansion; digital channels emphasized.
• Domestic India-focused operations with rising export potential.

Governance & controls

• Board includes two Joint MDs; Independent Directors include Pradeep Srivastava, Rajat Goel, Shruti Agnihotri.
• Internal auditors VGCA & Associates engaged; secretarial audit filed MR-3.
• Statutory auditors NKSC & Co. appointed 2025–30; no material auditor qualifications.

Risks, liquidity & outlook

• ROE 30.98%; debt/equity 0.43; liquidity adequate for near-term obligations.
• Single geographic focus; regulatory and working-capital sensitivity flagged.
• Market competition and raw-material price volatility cited as key risks.

CSR, compliance & workforce

• CSR policy not applicable; no CSR initiatives this year.
• Sexual harassment policy in place; zero complaints in year.
• Total employees 17; no deposits accepted; secretarial and internal-controls compliance ongoing.

AGM Details

• Date/time/mode: 18 September 2026, 3:30 PM IST, VC/OAVM.
• Remote e-voting: 15–17 September 2026; cut-off: 11 September 2026.
• Deemed venue: Registered office.

Key Resolutions

• Ordinary: Adopt standalone financial statements for the year ended 31 March 2026.
• Ordinary: Re-appoint Harinderpal Singh Sodhi as Joint Managing Director.
• Special: Change name to Avax Limited; amend MOA/AOA; regulatory approvals.

Dividend

• Dividend: Board did not propose any dividend for the year.

Capital & Corporate Actions

• Subdivision of equity shares from Rs 10 to Rs 5 each.
• Bonus issue approved at 3:1; record date fixed for entitlement.
• Bonus shares allotted on 8 April 2026.

Director Changes

• Resignations during 2025-26: Harish Kumar (07 Oct 2025), Gurvinder Singh Vohra (18 Jul 2025), Amitabh Agrawal (18 Sep 2025).
• Appointments during 2025-26: Rajat Goel (1 Aug 2025); Shruti Shri Agnihotri (15 Oct 2025).
• Retirement by rotation: Harinderpal Singh Sodhi eligible for re-appointment.

Auditors & Secretarial/Internal Audit

• Statutory Auditor: NKSC & Co appointed from 25 Apr 2025 for five-year term.
• Secretarial Auditor: G Gupta & Associates appointed 23 May 2025.
• Internal Auditor: VGCA & Associates appointed 23 May 2025.

Related Party Transactions

• Remuneration to KMPs and their relatives totaled ₹55.40 lakh for the year.

Other Material Approvals

• Bonus issue and share subdivision approved; record dates and allotment completed; capital structure reconfigured.

Name change and related approvals

• Name change to Avax Limited is pending CRC/MCA approvals and member General Meeting consent.
• MOA/AOA amendments will reflect the new name after approvals.

Meeting Details

• Date: 24 August 2026
• Time: 01:00 p.m.
• Location: Registered Office, 611, 6th Floor, Jaina Tower II, Janak Puri, New Delhi 110058

Key Agenda Items

• Consider and approve change of name and consequent MOA/AoA amendments after name reservation
• Any other business as mentioned in the Notice and with Chair's permission

Other Notes

• Trading window closure periods not specified
• Notice date: 17 August 2026

Name change

• Board approved name reservation for a change to Avax Limited or other name.
• Change subject to approval by shareholders, ROC/MCA, and other regulatory authorities.
• Company will file for name reservation with ROC/MCA.
• Board meeting concluded at 01:30 PM IST; updates to stock exchange will follow.