Gangotri Textiles Ltd

AGM details

• Date and time: 21 Aug 2026, 10:30 AM; mode: VC/OAVM.
• Attendance: 34 shareholders attended.
• IRP chaired meeting; board suspended under CIRP.

Resolutions

• Ordinary business: Adoption of FY2025-26 financial statements with Directors' and Auditors' Reports; approved.

Voting results

• Adoption of financial statements and reports approved.

Other notes

• Statutory audit report obtained; AGM conducted via video conference.

AGM Details

• Date: 21 August 2026; Time: 10:30 AM; Mode: Video Conferencing/OAVM.

Resolutions

• Ordinary business: adoption of financial statements, Directors' Report, and Auditors' Report for FY2025-26.

Voting Results

• Adoption resolution passed; e-voting conducted; Scrutinizer appointed to declare results.

Governance under CIRP

• Board suspended; Interim Resolution Professional chaired AGM under IBC; Corrigendum notice issued.

Auditors

• Statutory audit report obtained; no appointment changes disclosed.

CIRP Admission and IRP Appointment

• NCLT Chennai admits Gangotri Textiles' CIRP under Section 10; order dated 07 Aug 2026.
• IRP appointed: Mr. G. Gunasekaran (IBBI Reg No: IBBI/IPA-001/IP-P00681/2017-2018/11178).
• Board powers superseded; moratorium under Section 14 to apply from order date.
• IRP to file report within 20 days; registry to communicate order to IBBI.
• Total default to financial creditors: Rs 240.468 crore; date of default: 24-10-2005.
• IRP appointed from IBBI panel of IPs per 2024 Guidelines.
• Moratorium restricts asset disposals, legal actions, and enforcing security interests.

AGM details and governance changes

• AGM scheduled for 21 August 2026 at 10:30 AM, IRP to chair the meeting.
• IRP to chair; suspended board lacks independent authority.
• NCLT admitted CIRP on 7 August 2026; IRP governs company affairs.
• Ordinary and special businesses remain unchanged but subject to IBC and IRP directions.
• Corrigendum forms integral part of AGM Notice; other contents remain valid unless conflicting with IBC.

Financials

• Revenue from operations: 0 for the quarter ended 30-06-2026.
• Total income from operations: 0; no other income.
• Profit before tax: (2.39) Rs lakhs for Q1 FY26.
• Profit for the period: (2.39) Rs lakhs for Q1 FY26.
• Earnings per share - discontinued operation: Basic and Diluted (0.0073).
• Company operates in a single segment: Textiles.

Notes & Risks

• All assets have been taken over and sold by lenders; interest not provided since Sept 2015.
• Investor complaints: nil during the quarter.
• Unaudited results reviewed by M.GANGADARAN & CO; Board approved 24-07-2026.
• Audit/review indicates no material misstatement.

Financial results

• Unaudited results for quarter ended 30-06-2026 approved.
• Revenue from operations: zero; total expenses: Rs 2.39 lakh.
• Profit before tax: Rs -2.39 lakh; loss for the period: Rs -2.39 lakh.
• Earnings per share: Basic and diluted -0.0073.

Governance & approval

• Audit Committee approved the results prior to Board approval.
• Board meeting held via Zoom on 24 July 2026.

Business and disclosures

• Company operates in a single segment: Textiles.
• Assets taken over and sold by lenders; interest not paid since Sep 2015.

Regulatory & investor matters

• Results filed with NSE/BSE under Regulation 33; extract published.
• Investor complaints: Nil pending at end of quarter.

Meeting Details

• Date: 24 July 2026; Time: 10:00 AM; Location: Registered office via Video Conferencing.

Key Agenda Items

• Consider unaudited quarterly results for the quarter ended 30 June 2026.

Other Notes

• No other material notes disclosed.

AGM Details

• AGM on Fri Aug 21, 2026 at 10:30 a.m. via VC/OAVM.
• Record/Book closure: Aug 15-21, 2026.

Ordinary Business

• To receive, consider and adopt Directors’ Report, P&L and Balance Sheet with Auditors’ Report.

Related Party Transactions

• Related party transaction disclosed for year 2025-26.

Directors

• Details of Director seeking Re-appointment at ensuing AGM NIL.

Target Company

• Target entity is Gangotri Textiles Limited, listed on BSE, NSE, and Calcutta Stock Exchange
• Gangotri Textiles Limited operates in the textiles sector in India

Shareholding Details

• Manoj Kumar Tibrewal holds 2,363,796 shares representing 7.248% voting rights
• Anita Tibrewal holds 5,233,661 shares representing 16.047% voting rights
• Both shareholders belong to the promoter/promoter group

Financial Performance 📊

• Gangotri Textiles reported zero revenue from operations for Q3 FY2025 and nine months ended Dec 2025.
• Total expenses for Q3 FY2025 were ₹1.24 lakh, up from ₹0.74 lakh in Q3 FY2024.
• Net loss before tax for Q3 FY2025 was ₹1.24 lakh, compared to ₹0.74 lakh loss in Q3 FY2024.
• Loss before tax for nine months ended Dec 2025 was ₹5.60 lakh versus ₹6.02 lakh loss in prior year.
• EPS (basic and diluted) for discontinued operations was negative ₹0.0038 for Q3 FY2025.
• Loss for the period is entirely from discontinued operations; no continuing operations profit or loss reported.

Shareholding & Equity

• Promoters hold 18.36% of shares, with 75% of promoter shares pledged.
• Public shareholding stands at 75.47%.
• Equity as per Ind AS remains ₹106.73 crore as of Dec 31, 2025.

Other Information

• Interest has not been provided since September 2015 due to asset takeover by lenders.
• Auditor's limited review report issued with no material misstatement noted.
• No related party transactions or loans reported during the period.