Eurotex Industries and Exports Ltd

Book closure for AGM

• Record of members to close 11 Sep 2026 to 18 Sep 2026 for 40th AGM.
• Cut-off date for e-voting set at 11 Sep 2026.
• AGM on 18 Sep 2026 at 09:30 via Video Conferencing / AV Means.

Financial performance

• Revenue from operations stood at Rs 10.83 lakh for FY2025-26.
• Total income rose to Rs 528.11 lakh in FY2025-26.
• Profit after tax showed a loss of Rs 79.49 lakh.
• Earnings per share declined to Rs -0.91.
• Net cash from operating activities was an outflow of Rs 250.33 lakh.
• Dividend for the year not declared; no reserves transferred.

Capital structure & liquidity

• Total equity is negative, indicating erosion of net worth.
• Total borrowings: Rs 3,569.75 lakh (current Rs 3,069.75; non-current Rs 500).
• Net debt: Rs 4,297.67 lakh; gearing 2.68x.

Operations & assets

• Kolhapur manufacturing plants closed since 25 Mar 2019; closure announced 30 Mar 2022.
• Land converted to stock-in-trade valued at Rs 383.55 lakh.
• Real estate stock-in-trade stood at Rs 140.28 lakh.
• Assets held for disposal amount to Rs 924.34 lakh.

Dividends & capital allocation

• Special resolution approved to extend redemption of 50,00,000 6% preference shares to 20 years.
• Redemption to be funded from sale proceeds of company properties; Board authorized to implement.

Governance & leadership

• Shri Hariprasad Siotia ceased as Director on 7 June 2026.
• Ms. Neha Garg resigned as Company Secretary on 16 March 2026; Mohd Bilal appointed 17 April 2026.
• Sanjay Shrinarayan Baldua appointed as Addl. Non-Executive Director from 7 Aug 2026.

Risks & going concern

• Auditors highlight going concern risk; Note 39 discusses default exposure and revival plan.
• Contingent liabilities include GST, provident fund, ESI and electricity duty; provisioning guidance noted.
• No liability provisioning for electricity duty per Supreme Court matter; favorable outcome anticipated.

Related party transactions

• Remuneration to KMP FY2025-26: Patodia 40.09; Narayan 20.47; Rajiv 21.50; Neha Garg 3.00 (lakhs).
• Related party sale of stores to PBM Polytex Ltd: Rs 83.70 lakh.

AGM Details

• 40th AGM on 18 September 2026 at 9:30 AM via VC/OAVM.
• Remote e-voting from 15 Sep 2026, 9:00 AM to 17 Sep 2026, 5:00 PM; e-voting at AGM.
• Register of Members and Share Transfer Books closed 11 Sep 2026 to 18 Sep 2026 (inclusive).
• Cut-off date for voting: 11 Sep 2026.

Resolutions

• Ordinary: adopt financial statements, Directors’ Report, and Auditors’ Report for year ended 31 March 2026.
• Ordinary: re-appoint Rajiv Patodia as director by rotation.
• Special: extend redemption period of 50 lakh 6% Redeemable Preference Shares to 20 years.
• Special: relocate registers of members from the registered office to Raheja Chambers, 12th Floor.
• Ordinary: regularize appointment of Mr. Sanjay Shrinarayan Baldua as Non-Executive Non-Independent Director for up to five years.

Voting Status

• Voting results not disclosed in this filing.

Director Changes

• Patodia to retire by rotation; eligible for re-appointment.
• Baldua appointed as Additional Non-Executive Non-Independent Director from 07 Aug 2026; regularization up to five years.

AGM – Ordinary Business

• Adopt the financial statements for year ended 31 March 2026.
• Reappoint Rajiv Patodia as Director by rotation.

Special Resolution – Redemption Terms

• Vary redemption terms of 50,00,000 6% redeemable preference shares.
• Extend redemption period from 10 to 20 years from allotment.
• Redeem at par with priority over equity and non-cumulative dividends.
• Board authorized to give effect to the resolution.

Addendum – Registers of Members

• Maintain registers and related records at Raheja Chambers, 12th Floor.
• Authorise officers to complete actions required to implement this.

Addendum – Appointment of Sanjay Baldua

• Appoint Sanjay Baldua as Non-Executive Non-Independent Director for up to five years from 07 Aug 2026.
• Background details provided in Annexure I.

AGM Details

• 40th AGM scheduled for 18 September 2026 at 9:30 AM via VC/OAVM.
• Remote e-voting from 15 to 17 September 2026, 9:00 to 17:00.
• Notice and Annual Report available on eurotexgroup.in.
• Scrutinizer: Aabid & Co.; results to be declared post-AGM.

Appointment of Additional Non-Executive Director

• Appointment of Mr. Sanjay Shrinarayan Baldua as Additional Non-Executive Non-Independent Director, effective 07 August 2026.
• Term: holds office until the ensuing AGM, subject to shareholder approval and regulatory provisions.
• Profile: 35+ years in garment manufacturing; B.Com (Mumbai); expertise in production planning and QA.

Appointment details

• Appointment of Ms. Priya Amit Manglani as Company Secretary & Compliance Officer, effective 07 August 2026.
• Associate Member of ICSI, Membership No. A80626, with relevant secretarial experience.
• Term of appointment: from 07 August 2026 until resignation or termination.
• Not related to directors or promoters or other KMPs.
• Board approved appointment under Companies Act and SEBI LODR regulations.

Board approval & audit

• Board approved unaudited Q1 FY2027 results; Limited Review by Lodha & Co; unmodified opinion.

Financial highlights

• Total income for quarter ended 30 June 2026: Rs 53.20 lakhs.
• Revenue from operations: Rs 1.85 lakhs; other income: Rs 51.35 lakhs.
• Profit before tax: Rs (139.22) lakhs; net loss: Rs (131.27) lakhs.

Segments

• Two reportable segments: Textiles (yarn) and Real Estate Development.

Going concern & operations

• Going concern: net worth eroded; Kolhapur plant closed since 25 Mar 2019; land development planned.

Regulatory matters

• Emphasis: Supreme Court orders on electricity charges and CPP duty; no liability provisioning.

Outlook & guidance

• Management expects favourable orders from MERC and APTEL; review petitions filed before Supreme Court.

Auditor's opinion

• Auditors Lodha & Co LLP; unmodified opinion on unaudited results.

Other notes

• Current quarter other income Rs 5.75 lakhs; prior year Rs 35.70 lakhs from asset sale.