Borana Weaves Ltd

Project delay

• One WTG site plus 7.65 MW solar now expected by end-Oct-2026.
• Remaining two WTG locations: one by end-Nov-2026, the other by end-Dec-2026.
• Cause: higher wind speeds, heavy monsoon, logistics work, and line shutdown delays.
• Location: Kalikanagar, Gujarat.

Appointment of Secretarial Auditor

• Appointment of M/s K. Dalal & Co. as Secretarial Auditor for five years (2026-27 to 2030-31), effective 29-09-2026.
• Profile: Mr. Kunjal Dalal, existing Secretarial Auditor and proprietor of M/s K. Dalal & Co., 30+ years' experience.
• Relationship with other directors: Not applicable.

Board and KMP changes

• No appointment, resignation, or removal of directors or KMP reported.

AGM Details

• Date and mode: 29 Sep 2026, 11:30 AM, via VC/OAVM.
• Meeting duration: 11:30 AM to 12:07 PM.
• Record date: 22 Sep 2026; postal ballot last date: 29 Sep 2026.

Key Resolutions

• Adoption of Audited Standalone Financial Statements for year ended 31 March 2026.
• Re-appoint Ankur Mangilal Borana as Director by rotation.
• Re-appoint Statutory Auditor for second five-year term.
• Appoint K. Dalal & Co. as Secretarial Auditors.
• Ratify remuneration to Vaghela Kishor & Co. for 2026-27.
• Revise remuneration of Chairman & Managing Director.
• Revise remuneration of Executive Director and Chief Financial Officer.
• Revise remuneration of Ankur Mangilal Borana, Executive Director and CEO.

Voting Results

• All eight ordinary resolutions passed; 92 in favour, 1 against.
• Invalid votes: 0; total votes polled: 21,833,997.

Dividend

• No dividend proposed or approved.

Director Changes

• Re-appointment of Ankur Mangilal Borana as Director; no other director changes.

Auditor Appointments

• Statutory Auditor re-appointed for second term of five years.
• Secretarial Auditor: K. Dalal & Co.

Related Party Transactions

• Remuneration revisions for promoter group directors approved; Borana family.
• Counterparty: Borana family; value not disclosed.

Other Material Approvals

• No further material approvals beyond remuneration-related matters.

AGM Details

• Date, time and mode: 29 Sep 2026, 11:30–12:07 IST, VC/OAVM.
• Meeting commenced and concluded as above; remote e-voting window: 26–28 Sep 2026.
• Meeting held via VC/OAVM; eight items of business.
• Scrutinizer appointed for e-voting; results to be declared after report.

Key Resolutions

• To adopt Audited Standalone Financial Statements for year ended 31 March 2026; Ordinary.
• Re-appointment of Ankur Mangilal Borana by rotation; Ordinary.
• Re-appointment of Statutory Auditor for second five-year term; Ordinary.
• Appoint M/s. K. Dalal & Co. as Secretarial Auditors; Special.
• Ratify remuneration payable to Vaghela Kishor & Co. for 2026-27; Ordinary.
• Remuneration revision approved for Chairman and MD; Ordinary.
• Remuneration revision approved for Executive Director and CFO; Ordinary.
• Remuneration revision approved for Executive Director and CEO; Ordinary.

Borana Weaves Ltd — Closure of Trading Window from October 1, 2026 until 48 hours after the date of declaration of Unaudited Financial Results for the quarter and six months ending September 30, 2026

AGM notice and annual report access

• 6th AGM scheduled for 29 September 2026 at 11:30 IST via VC/OAVM.
• Electronic copies of AGM Notice and FY 2025-26 Annual Report to unregistered email IDs.
• Web-links to access Notice and Annual Report: https://boranagroup.in/agm and https://boranagroup.in/annual-report.
• Communication dated 01-09-2026 to unregistered email holders.
• Regulatory context: Regulation 36(1)(b) SEBI LODR referenced.

Financial Highlights

• Revenue from operations rose to ₹38,859.31 lakh in FY25-26.
• Total revenue stood at ₹39,680.80 lakh.
• Profit after tax was ₹6,461.20 lakh; 60.7% YoY rise.
• Total comprehensive income ₹6,486.89 lakh.
• Earnings per share ₹24.35 basic.
• No dividend declared; profits retained.

Capital structure & liquidity

• Total debt including lease liabilities ₹69.50 crore.
• Net debt ₹67.82 crore; debt/equity 0.24x.
• IPO completed May 27, 2025; issued 6,708,000 shares.
• IPO proceeds increased equity via 26,645,295 shares.
• Net cash from financing activities ₹135.93 crore.
• Promoter group holds about 59.8% of equity post-IPO.

Operations & segment performance

• Grey sale revenue ₹35,341.49 lakh; dominant contributor.
• Yarn sale ₹1,773.08 lakh; Beam ₹1,586.60; Wastage ₹116.15.
• Total segment revenue ₹38,859.31 lakh.
• YoY revenue growth about 34%; net profit growth about 61%.

Dividend & capital allocation

• Dividend not proposed for FY2025-26.
• CSR spend ₹51.00 lakh; CSR obligation ₹65.03 lakh.
• CSR surplus ₹24.42 lakh; carry forward ₹10.39 lakh.

Governance & risk

• Board of six directors; Audit Committee of three.
• Statutory auditors M/s KSA & Co; Secretarial auditors M/s K Dalal & Co.
• Internal financial controls are adequate; no material weakness.

CSR & ESG

• CSR Committee: Rajkumar Borana (Chair), Ankur Borana (Member), Nitika Soni (Member).
• Policy on CSR available on the company website; Annexure-A discloses projects.

Shareholding & listing

• IPO completed May 27, 2025; 6,708,000 new shares issued.
• Total issued equity shares: 26,645,295.
• Promoter group holds ~59.8% post-IPO.
• Dematerialised holding 100%; listed on BSE and NSE.

Business overview

• Two revenue streams: 92% greige fabric, 8% polyester textured yarn.
• In-house texturizing and warping enable process control and faster throughput.
• Greige fabric serves apparel, home-textile, industrial, and advanced fabrics.
• Integrated platform supports margins via scale and automation.
• End-use applications include apparel, home textiles, industrial uses.

Operational highlights

• Q1 FY27 revenue ₹100.84 Cr, up 24.5% YoY.
• Q1 FY27 EBITDA ₹25.84 Cr, up 50.7% YoY.
• EBITDA margin Q1 FY27: 25.63%.
• PAT Q1 FY27 ₹16.48 Cr; EPS ₹6.18.
• Capacity: 1,212 high-speed water-jet looms.
• 24 texturizing machines; 20 folding; 9 warping machines.
• Unit 4 expansion: 192 water-jet looms; targeted Dec 2026.
• Renewable portfolio target ≈23.30 MW; 3.55 MW rooftop operational.
• Hybrid project: 19.79 MW targeted for commissioning in 2026.
• Operating cash flow up 63.3% YoY; financing inflows funded expansion.

Financial performance

• FY26 revenue ₹388.59 Cr; EBITDA ₹91.52 Cr.
• FY26 gross profit ₹160.75 Cr; margin 41.37%.
• PAT ₹64.61 Cr; PAT margin 16.63%.
• PBT ₹78.40 Cr; PBT margin 20.17%.
• EPS FY26 ₹24.35; YoY growth 21%.
• FY24–FY26 revenue CAGR: 39.7%.

Capital structure & liquidity

• Operating cash flow up 63.3% YoY.
• Financing inflows supported expansion-led investing outflows.
• Equity base strengthened to support next investment cycle.

Strategic priorities & outlook

• Near-term priorities: renewables commissioning and Unit 4 ramp.
• Build export optionality to broaden markets.
• Scale and efficiency improvements to sustain margins.

Risks & governance

• Commissioning timelines subject to stabilisation, approvals, and grid availability.

Governance & leadership

• Promoter-led leadership with 101+ years of industry experience.