GTN Industries Ltd

AGM voting results

• AGM held on 28 Sep 2026; e-voting 25–27 Sep 2026; scrutinizer report dated 29 Sep 2026.
• All resolutions passed with requisite majority.
• Audited financial statements, board and auditors' reports adopted.
• Director appointment (reappointment of C. George Joseph) approved.
• MOA adoption approved.
• AOA adoption approved.
• Remuneration of Cost Auditors NSV Krishna Rao & Co. ratified.
• Authorization for investments/loans/guarantees under Section 186 approved.
• Approval of material related party transactions with GTN Engineering (India) Limited.
• Sale, transfer and disposal of business undertaking approved.

AGM Details

• AGM held 28-09-2026, 10:30 AM to 12:30 PM
• Mode: physical at registered office
• Quorum: in-person 46, proxies 20

Ordinary Business

• Adoption of Audited Financial Statements, Directors' Report and Auditors' Report
• Re-appointment of Shri C. George Joseph (retiring by rotation)

Special Business

• Authorize Board to make loans, guarantees and securities; investments under Section 186
• Adopt new Memorandum of Association
• Adopt new Articles of Association
• Ratify remuneration of Cost Auditors M/s NSV Krishna Rao & Co.
• Approve material related party transactions with M/s GTN under SEBI LODR
• Approve sale, transfer and disposal of the business undertaking under SEBI LODR

Voting & Outcome

• All resolutions approved by shareholders via remote e-voting and ballot
• Detailed results to be provided by the Scrutinizer

Directors & Auditors

• Director re-appointment above for Shri C. George Joseph
• Cost Auditors remuneration ratified: M/s NSV Krishna Rao & Co.

AGM Details

• 64th AGM held on 28-09-2026 from 10:30 AM to 12:30 PM at the registered office.

GTN Industries Ltd: Trading window closed from Oct 1, 2026 until 48 hours from the date of declaration of the financial results for the quarter ended Sept 30, 2026; Board meeting to be held on or before Nov 14, 2026

Financial highlights

• Revenue from operations: Rs 16,055.83 lakhs for year ended 31 Mar 2026.
• Total income: Rs 16,235.21 lakhs in 2025-26.
• PAT attributable to equity shareholders: Rs -1,071.89 lakhs; EPS Rs -6.11.
• Net cash from operating activities: Rs -555.56 lakhs; year-end cash Rs 377.38.
• Total debt: Rs 3,818.64 lakhs; total equity Rs 7,267.67 lakhs; debt/equity 0.53.
• Undrawn borrowing facilities: Rs 4,273.67 lakhs.
• Dividend not declared due to net loss.

Strategic actions

• Nagpur Unit to GTN Engineering (India) Limited for Rs 71 crore, subject to approvals.
• Adoption of new Memorandum and Articles of Association to align with Companies Act 2013.
• RPT with GTN Engineering (India) Limited up to Rs 300 crore; arm's length.
• Board authorized investments/loans/guarantees up to Rs 400 crore under Section 186.

Capital structure & liquidity

• Debt maturities: 0-1 year Rs 1,466.37 lakhs; 1-5 years Rs 2,352.27 lakhs.
• Undrawn facilities: Rs 4,273.67 lakhs.

Operations and segment

• Single segment: spinning yarn.
• Export sales Rs 2,557.63 lakhs; domestic sales Rs 13,498.20 lakhs.

Governance & shareholding

• Board meetings held: 4 in 2025-26.
• Promoter GTN Engineering (India) Ltd holds 49.51% stake.
• Promoter group held 74.34% at year-end.
• Secretarial audit by V. Sidvilas; no director disqualification.

Related party disclosures

• RPTs with GTN Engineering (India) Limited up to Rs 300 crore; arm's length; Audit Committee approval.

Risks & outlook

• Cash losses Rs 743.51 lakhs; going concern basis maintained.
• Cotton price volatility risk; sourcing diversification planned.
• Outlook: potential rebound in yarn demand; Asia export opportunities.

Financials

• Revenue from operations: 4,438; total income: 4,448 for quarter ended 30 Jun 2026.
• Total expenses: 4,543; PBT before exceptional items: -95; PAT: -89.
• EPS (basic & diluted): -0.51.
• GST ITC write-off Rs 400 lakhs included in cost of materials consumed.
• Board-approved unaudited results; board meeting on 12 Aug 2026.
• Limited review by Lodha & Co LLP.
• Figures for quarter ended March 31, 2026 are balancing figures.
• Single textile product segment; no segment reporting provided.

Nagpur unit sale

• MOU to sell Nagpur unit to GTN Engineering for Rs 4,100 lakhs plus ~Rs 3,000 lakhs NCAs.
• Subject to shareholders' approval and definitive agreement.
• Consideration linked to net current assets as of 30 September 2026.

Key disclosures

• Approved unaudited Q1 FY2026 results for quarter ended 30 June 2026.
• Q1 2026: Revenue from operations Rs 44.38 crore; PAT Rs -0.89 crore.
• Limited Review Report on Q1 results issued by Statutory Auditors.
• MOU with GTN Engineering (India) Ltd to sell Nagpur unit as going concern.
• Upfront sale consideration Rs 41.0 crore plus net current assets about Rs 30.0 crore.
• Subject to shareholders' approval and execution of definitive Business Transfer Agreement.
• Proposed transfer date for net current assets: 30 September 2026.
• GST ITC write-off Rs 400 lakhs included in cost of materials consumed.

Meeting Details

• Date: 12 August 2026; time and venue not disclosed.

Key Agenda Items

• Approval of Un-Audited Financial Results for the quarter ended 30 June 2026.

Other Notes

• Trading window closed for designated persons' relatives from July 1, 2026 to 48 hours after results.