Garnet International Ltd

Dematerialisation status

• Dematerialisation requests were processed; securities were confirmed to the depositories.
• Securities dematerialised have been listed on the stock exchanges where earlier issues are listed.
• Physical certificates were mutilated and cancelled after verification; depository name substituted as registered owner within timelines.

AGM Details

• Date and time: 30 September 2026 at 11:00 IST via VC/OAVM.
• Mode: VC/OAVM.
• Meeting duration: 11:00 to 11:14.

Ordinary Resolutions

• Adopt standalone financial statements for year ended March 31, 2026.
• Adopt audited consolidated financial statements for year ended March 31, 2026.
• Re-appoint Ramakant Gaggar, retiring by rotation, for eligible re-appointment.

Voting Status

• Voting results to be disseminated to stock exchanges and company website.

Auditors

• Statutory and Secretarial Auditors attended the AGM.

Garnet International Limited: trading window closed for all directors, designated persons and their immediate relatives from Oct 01, 2026 until 48 hours after the declaration of unaudited financial results for the quarter and half year ended September 30, 2026.

Appointment details

• Name and designation: Mr. Sunil G. Nair, Company Secretary & Compliance Officer (KMP).
• Effective date: 24 September 2026.
• Reason for change: Appointment as Company Secretary and Compliance Officer (KMP).
• Brief profile: Qualified Company Secretary from ICSI with over 20 years post-qualification experience.
• Relationships with directors or promoters: Not applicable.
• KMP status and governance authority: Appointed as KMP with Company Secretary & Compliance Officer role.

Financial performance

• Standalone total income Rs 406.65 lakhs; up from Rs 326.63 lakhs prior year.
• Standalone net profit after tax Rs 340.64 lakhs; up from Rs 9.99.
• Consolidated revenue from operations Rs 487.47 lakhs; prior year Rs 873.46.
• Consolidated net profit to owners Rs 475.08 lakhs; prior year Rs 152.22.
• Standalone EPS Rs 1.73; Consolidated EPS Rs 2.42.
• Equity share capital stands at Rs 1,963.50 lakhs.
• Standalone net worth Rs 3750.10 lakhs.

Capital structure & liquidity

• Paid-up equity shares: 1,96,35,000; Rs 19.63 crore.
• Borrowings (non-bank) Rs 100.95 lakhs; no bank credit facility availed.
• Net debt to equity ratio: 0.05.
• Cash and cash equivalents Standalone 8.97 lakhs; Consolidated 9.31 lakhs.

Dividends & capital allocation

• Board did not declare or propose any dividend for the year.
• Forfeiture of 27,00,000 Convertible Equity Warrants; 25% upfront money forfeited to Capital Reserve.

Subsidiaries & associate

• Whitewall India Private Limited: 81% ownership; subsidiary; distributor of Polymerised Drymix Mortars.
• Sukartik Clothing Private Limited: 43.06% associate; part of Group consolidation.

Governance & risk management

• Board of six directors; three independent; four board meetings in FY2025-26.
• Audit Committee met four times; composition includes Independent Directors and executive member.
• CEO/CFO certifications and independent director declarations on independence submitted.
• KMP: Company Secretary Shipra Rathi resigned effective 30 June 2026.

Audit & compliance flags

• Statutory auditors note non-compliance items (186(7)) related to inter-corporate loans; some borrowings not interest-bearing.
• Secretarial audit notes include late IEPF actions and transfer delays for subsidiary Whitewall’s report.
• Internal controls deemed adequate; management remains responsible for remediation.

Related party transactions

• Related party transactions are arm's length and reviewed by Audit Committee.
• Outstanding balances with related parties include borrowings from Indira Gaggar and advances to Whitewall.

Outlook & risks

• FY2025-26 highlighted market volatility; NBFC regulatory classification risk remains a concern.
• Group aims to strengthen risk governance and internal controls to mitigate external shocks.

CSR & ESG

• BRSR not applicable; CSR disclosures not prepared for the year.

AGM Details

• AGM scheduled for 30 September 2026 at 11:00 AM via VC/OAVM.
• Members can vote on resolutions via e-voting.
• Notice covers registration, email updates, and VC/OAVM attendance.

AGM Details

• AGM date: 30 September 2026; time and mode not disclosed.
• e-voting cut-off date: 23 September 2026.
• Book closure: 24 September 2026 to 30 September 2026 (inclusive).
• Scrip code 512493, Garnet International Ltd.