Indian Card Clothing Company Ltd

AGM details

• Date and time: 24-09-2026, 2:00 PM IST; mode: VC/OAVM.
• Total shareholders on record: 10,059.
• Attendees: Promoter group 2, Public 53; via VC.

Key resolutions

• Ordinary - Adopt standalone financials for year ended March 31, 2026; passed 99.97%.
• Ordinary - Adopt consolidated financials for year ended March 31, 2026; passed 99.97%.
• Ordinary - Re-appoint director (Mehul K. Trivedi) by rotation; passed 99.97%.

Director changes

• Mehul K. Trivedi retires by rotation; re-appointment approved.

Voting overview

• All resolutions passed; overall in-favour about 99.97%.

AGM Details

• AGM held via video conferencing and other AV means, from the registered office.
• Time: 2:00 p.m. IST; attendance was electronic.
• Quorum satisfied; proceedings conducted without physical venue.
• Auditors' and Secretarial Audit Reports taken as read with no qualifications.
• Scrutinizer appointed to consolidate votes; results to be filed within two working days.
• No shareholder questions were raised during the meeting.
• Meeting concluded at 2:40 p.m. IST.

Ordinary Resolutions

• Adopt standalone financial statements.
• Adopt consolidated financial statements.
• Re-appoint director retiring by rotation.

Voting Status

• Voting results to be filed with exchanges within two working days.
• Results to be uploaded on the company's site and NSDL.

AGM and AR access

• AGM Sep 24, 2026 at 2:00 PM IST via VC/OAVM; AR online; notices on BSE/NSE.
• Web-links and exact path for AR and AGM notices provided; physical copies not dispatched.

Shareholder communications & KYC

• Shareholders urged to update emails and KYC/PAN details with DPs or RTA to receive communications.

AGM details

• Date and time: 24 September 2026 at 2:00 p.m. IST.
• Mode: VC/OAVM.
• Record date for voting: 17 September 2026.
• Book closure: 18 September 2026 to 24 September 2026 (inclusive).

Resolutions

• Ordinary: adopt standalone financial statements for year ended 31 March 2026.
• Ordinary: adopt consolidated financial statements for year ended 31 March 2026.
• Ordinary: re-appoint director by rotation (Mehul Kunjbihari Trivedi).

Director changes

• Re-appoint Mehul Kunjbihari Trivedi as Director (Non-Executive Non-Independent).

Standalone financials

• Revenue from operations: 3,509.35 Lakh; 2024-25: 3,608.53 Lakh.
• Total income: 5,723.32 Lakh; 2024-25: 7,995.38 Lakh.
• Profit after tax: 420.42 Lakh; 2024-25: 9,184.72 Lakh.
• Earnings per share: Rs 7.08; 2024-25: Rs 154.58.
• Net cash from operating activities: (1,569.74) Lakh.
• Balance indicators: Current ratio 10.59x; Debt-equity 0.00x; Net debt to equity -1.10%.

Consolidated performance

• Consolidated revenue: 6,419.15 Lakh; 2024-25: 8,591.50 Lakh.
• Consolidated PAT: 371.97 Lakh; 2024-25: 9,186.88 Lakh.
• Earnings per share (consolidated): Rs 6.26.
• Other comprehensive income: 100.23 Lakh.
• Exceptional items: (111.29) Lakh.

Capital structure & liquidity

• Stand-alone borrowings: Nil; ECB repaid on 01 Oct 2025.
• Consolidated current borrowings: 2.95; no non-current borrowings.
• Standalone cash & cash equivalents: 525.32 Lakh; Consolidated: 670.38 Lakh.
• Net debt to equity: Standalone -1.10%; Consolidated -1.03%.

Sustainability & asset activity

• 56 MW rooftop solar plant commissioned at Nalagarh factory; energy costs expected to fall 28-30%.
• Sale of Baner, Pune commercial property completed July 2026; asset held-for-sale noted.
• R&D expenditure: 32.09 Lakh; ISO 9001 certified manufacturing facility.

Governance & management changes

• Mr Jyoteendra Kothary resigned as director on 01-Sep-2026.
• Mr Sanjeevkumar Karkamkar appointed CFO and Executive Director from 30-Apr-2025.
• Audit Committee reconstituted May 29-30, 2026; Mr Chirag Shah added.
• Board size eight; four independent; independence confirmed.

Dividend & capital allocation

• Dividend for the year: none; no buybacks during the year.

Outlook & risks

• Industry cyclicality, raw material costs, and FX volatility pose risks.
• Competition from Chinese card clothing players remains a challenge.
• Medium-term outlook: gradual demand recovery; near-term profitability may be challenged.

Director resignation

• Jyoteendra Mansukhlal Kothary, Non-Executive Director, resigns effective Sept 1, 2026 due to age and health issues.

Financial highlights

• Standalone revenue from operations: Rs 853.64 lakhs (Q1 FY27).
• Standalone total income: Rs 1,858.75 lakhs.
• Standalone net profit after tax: Rs 490.59 lakhs.
• Standalone EPS: Rs 8.26 per share.
• Consolidated revenue from operations: Rs 977.90 lakhs.
• Consolidated total income: Rs 1,983.57 lakhs.
• Consolidated net profit after tax: Rs 456.42 lakhs.
• Consolidated EPS: Rs 7.68 per share.

Strategic actions

• Approved investment in Garnett Wire Ltd., UK, a wholly owned subsidiary.
• Garnett Wire FY2025-26 turnover £826,760; net profit £27,497.
• Cash consideration £250,000; subscription up to £250,000; completion ~60 working days.
• Related party: Mehul K. Trivedi on Garnett Wire board; arm's length valuation.
• Object: expand business abroad using Garnett's UK presence.

Management changes

• Executive Director & CFO Sanjeevkumar Karkamkar resigns, effective 1 September 2026; to remain NED.

Regulatory disclosures

• Resignation letter enclosed; RBI approvals not required for Overseas Direct Investment.
• Unaudited standalone and consolidated results approved; Limited Review Report attached.

Other disclosures

• Sale of Amar Business Zone completed July 2026 for Rs 1320 lakhs.

Outlook

• Management expects textile/card clothing sector recovery by end FY 2026-27.