Ludlow Jute & Specialities Ltd

AGM notice and e-voting details

• 47th AGM on Sep 11, 2026 at 11:30 a.m. IST via VC/OAVM.
• Electronic AGM notice and FY 2025-26 AR sent to registered email IDs.
• AR and Notice also available on Ludlow's website, NSDL, and BSE.
• Cut-off date for e-voting: Sep 4, 2026.
• e-voting window: Sep 8–10, 2026.
• Unregistered emails or physical shareholders to update contact details.
• Detailed email-registration steps provided in the AGM Notice.

Overview & Highlights

• FY2025-26 total income ₹532.78 crore.
• PAT ₹16.16 crore; OCI ₹18.41 crore.
• Dividend for FY2025-26: not declared.
• EPS ₹15.00; paid-up equity ₹1,079.77 lakh.
• Geographic revenue: India ₹47,745.67 lakh; Overseas ₹5,439.34 lakh.
• Production: 38,029 MT; prior year 25,573 MT.
• CWIP closed ₹753.35 lakh; additions ₹3,285.92 lakh.
• Proposed Section 8 subsidiary for social objectives under formation.

Financial Performance

• Profit before tax ₹22.09 crore; tax ₹5.93 crore.
• Net profit ₹16.16 crore; total comprehensive income ₹18.41 crore.
• Cash from operations: -₹1.775 crore; investing cash outflow ₹36.10 crore.
• Total borrowings ₹21,351.91 lakh; equity ₹18,617.60 lakh.
• Gearing 115%; current ratio 1.15; ROA/ROE implied by ratios.
• Export revenue ₹5327.18 lakh; overall revenue ₹532.78 crore.

Operations & Capacity

• Single segment: manufacture and sale of jute goods.
• Production improvements supported by modernization and capacity expansion initiatives.
• Raw jute price volatility discussed; JPM Act provides stable demand for packaging.
• Export markets under consideration; emphasis on eco-friendly jute products.
• CWIP & capital expenditure ongoing; focus on efficiency and product mix.

Debt, Liquidity & Capital Structure

• Total borrowings ₹21,351.91 lakh; net debt to equity 115%.
• Current ratio 1.15; debt-equity mix reflects higher working capital needs.
• Cash & cash equivalents ₹11.90 lakh; cash flow sensitivity to interest costs exists.
• CWIP balance ₹753.35 lakh indicates ongoing asset investments.

Governance, Audit & Controls

• Board: five directors; two independent; MD is executive.
• Statutory auditors: M/s J K V S & Co; no qualifications.
• Secretarial auditor: no qualifications; compliance reported.
• Audit Committee oversees governance; no material adverse findings.
• Payroll audit trail not fully enabled; improvement plan underway.

Related Party Transactions & CSR

• Significant related party transactions with holding company and group entities.
• Arm's length transactions; disclosures in notes. Inter‑company borrowings reported.
• CSR not applicable; CSR policy available on ludlowjute.com.

Shareholding & Corporate Actions

• Promoter holding 67.21% via Panchjanya Distributors Pvt Ltd.
• Dematerialisation 97.09%; equity share capital ₹1,079.77 lakh.
• AGM scheduled 11 September 2026; VC/OAVM facility. No dividend.

Risks, Outlook & Market Environment

• Outlook cautiously optimistic; improved raw jute availability expected in 2026-27.
• MSP for raw jute increased to ₹5925/quintal for 2026-27.
• Risks: price volatility, JPM Act dependence, climate, skilled labor shortages.
• Geopolitical tensions affect export demand; competition from synthetics persists.
• Industry shift toward sustainable, biodegradable jute products.

Book closure and AGM details

• Book closure: 5 September 2026 to 11 September 2026, both days inclusive, for AGM.
• AGM date and time: 11 September 2026 at 11:30 AM.
• Security type: equity shares.

Appointment of Chairman Emeritus

• Board approved appointment of Awanti Kumar Kankaria as Chairman Emeritus, effective 12 August 2026.
• Subject to shareholders' approval at the ensuing AGM and other board terms.
• Reason: recognition of his valuable experience, guidance and expertise in the jute sector.
• Term: from 12 August 2026 until resignation or cessation per terms.
• Remuneration: Rs 12,00,000 per month without profit-based commission.
• Disclosure: not related to Directors/KMP; is a significant beneficial owner.
• Significant beneficial ownership via Panchjanya Distributors Private Limited, holding 67.21% of equity.
• Brief profile: industrialist with over four decades in jute mill management and turnaround.

Unaudited results approved

• Board approved Q1 FY2026 unaudited results for quarter ended 30 June 2026.
• Limited Review conducted by JKVS & Co; results reviewed by Audit Committee.

Auditor opinion & regulatory note

• Statutory auditors have not expressed any modified opinion.
• Declaration under Regulation 33(3)(d) SEBI LODR confirms no modified opinion.

Notable revenue item

• Revenue includes Rs 131.41 lakhs from NCDRC order to settle 2010-11 fire claim.

Financial reporting scope

• Single-segment operations; Ind AS 108 segment reporting applicable.

Other disclosures

• Results hosted on the company website.

Meeting Details

• Meeting on 12 August 2026; time and venue not disclosed.

Key Agenda Items

• Consider and approve unaudited financial results for quarter ended 30 June 2026.

Other Notes

• Advance notice issued to BSE and posted on the company website.

Dematerialisation and listing status

• Securities dematerialised have been listed on the stock exchanges where they were previously listed.
• Certificates mutilated and cancelled after verification; depository name substituted as registered owner within 15 days.
• RTA sent Demat Transfer Register for the quarter to depositories and exchanges; destroyed mutilated securities.