Saraswati Saree Depot Ltd

Saraswati Saree Depot Limited trading window closed from Oct 1, 2026 till the end of 48 hours after the declaration of unaudited financial results for the quarter and half year ending September 30, 2026

Dividend details

• Interim dividend declared and approved for 2026-27.
• Dividend amount Rs 3.00 per equity share (30% of face value).
• Face value Rs 10 per equity share.
• Record date fixed as 30 September 2026.
• Financial year 2026-27.
• Total dividend payout: Rs 11,87,99,400.

Meeting Details

• Date, time and venue: 24 September 2026 at 4:00 PM, Registered Office, Kolhapur.

Key Agenda Items

• Consider and approve interim dividend for FY 2026-27 and fix record date.

Other Notes

• Trading window closed for designated persons from 22 September 2026 until 48 hours after board meeting/dividend filing.

Statutory Auditor Appointment

• PPC & Co, Chartered Accountants appointed as Statutory Auditors for five-year term from AGM conclusion to 2030-31.
• Appointment subject to members' approval at the ensuing AGM.

Independent Directors Appointments

• Amar Thorat appointed Independent Additional Director for five years from 2 August 2026.
• Yatiraj Marda appointed Independent Additional Director for five years from 20 June 2026.
• Shareholders approved these appointments at the 6th AGM on 18 September 2026.
• Appointments approved on recommendation of Nomination and Remuneration Committee.
• Not related to other directors.

AGM details

• Date: 18 September 2026; mode: remote e-voting and e-voting.
• Record date for voting: 10 September 2026.
• Total shareholders on record: 41,613.
• Scrutinizer appointed for voting: CS Devendra Deshpande.
• Total resolutions passed: 5.

Key resolutions

• Resolution 1 (Ordinary): Adopt audited financial statements for year ended 31 March 2026; passed.
• Resolution 2 (Ordinary): Re-appoint Mahesh Dulhani by rotation; passed.
• Resolution 3 (Ordinary): Appoint PPC & Co as Statutory Auditors for 5 years; passed.
• Resolution 4 (Special): Re-appoint Amar Thorat as Non-Executive Independent Director for 5 years; passed.

Auditors

• Statutory auditor PPC & Co appointed for 5 years.

AGM Details

• AGM held on September 18, 2026 at 4:00 PM IST via VC/OAVM.
• Notice dated 14 August 2026; e-voting window 15–17 September 2026.
• Meeting concluded at 4:30 PM IST.

Key Resolutions

• Adopt audited standalone financial statements for FY ended March 2026.
• Re-appointment of director retiring by rotation.
• Appointment of PPC & Co as Statutory Auditors for five years.
• Re-appointment of Independent Director for five years.
• Re-appointment of one Independent Director for five years.

Dividend

• Interim dividend of ₹1.515 per share declared.

Director Changes

• Director retires by rotation re-appointed.

Auditors

• Statutory Auditors PPC & Co appointed for five years.

Other Approvals

• MOA amendment to include real estate development approved with 99.95% votes.

AGM notice distribution to non-email shareholders

• Intimation that the company dispatched letters to shareholders without registered email IDs.
• Letters include a weblink to AGM Notice and FY2025-26 Annual Report.
• Dispatched to Members whose email IDs are not registered with NSDL/CDSL.
• Regulatory basis: Regulation 30, SEBI LODR; Regulation 36(1)(b) compliance.
• Disclosures align with MCA and SEBI circulars.
• Copy of dispatched letter enclosed for reference.
• Date on filing: 25 August 2026; Place: Kolhapur.
• Scrip codes: NSE SSDL; BSE 544230.
• Company Secretary & Compliance Officer: Vidhi Bharat Oswal.
• Impact: Enables access to AGM materials for non-email shareholders.

Financial performance

• FY26 revenue from operations ₹6,311.62 mn, up 4.57% YoY.
• PAT ₹234.06 mn, down from ₹305.76 mn.
• EBITDA ₹378.08 mn; margin 5.10%.
• Net debt-free balance sheet; no borrowings.
• Interim dividend ₹1.515 per share declared.
• IPO proceeds deployed to working capital; debt-free stance.
• Real estate development added as object; no project yet.
• Core saree wholesale remains the primary business.

Business developments & strategy

• Pilot entry into men's ethnic wear during festive season.
• First 15,000 sq ft flagship store launched June 2025.
• Diversification aims to augment core saree wholesale.
• Memorandum amended to include real estate development; approved Jan 2026.
• Calibrated, disciplined capital allocation supports sustainable growth.
• Sales growth supported by organized retail and digital channels.

Operations & market

• Over 900 weavers; 300,000 SKUs; about 13,000 active B2B customers.
• Product mix dominated by sarees; kurtis and lehengas also offered.
• Kolhapur hub provides vendor access and logistics advantages.
• Exclusive Kolhapur outlet feeds insights into B2B operations.
• Diversification into retail and men’s wear supports long-term growth.

Capital structure & liquidity

• Authorized capital ₹41 crore; paid-up ₹39.60 crore.
• Borrowings nil; cash and cash equivalents ₹699.28 mn.
• Net debt to equity −64.08%.
• Interim dividend paid; no final dividend declared.
• IPO proceeds used for working capital post-IPO.

Governance & risk

• Board of eight directors; four independent.
• Post-year-end Shankar Dulhani resigned; Rajesh Dulhani appointed Chairman.
• Independent directors Marda and Thorat reappointed; subject to AGM.
• Auditors PPC & Co proposed; five-year term pending shareholders' approval.
• Internal controls show weaknesses in stock confirmations and inventory reconciliation.
• Secretarial audit NAM & Associates; no non-compliances reported.
• Inventory lacks integrated stock records; physical count verified.

CSR & governance

• CSR spend ₹74.04 lakh; unspent transferred to CSR account.
• CSR supported Samarth Yuva Foundation, Kai Shri Marutirao Salokhe, and Siddhagiri.
• 2% average net profit basis used for CSR obligations; ₹74.04 lakh.

Outlook & risks

• FY27 outlook positive; rural demand improving and digital distribution expanding.
• Risks: raw material volatility; competition; supply chain disruptions.

AGM & shareholder matters

• 6th AGM on 18 Sep 2026 via VC/OAVM.
• Postal ballot: MOA amendment to include real estate; 99.95% in favour.
• Auditors PPC & Co; appointment approved for 5 years.
• E-voting window 15–17 Sep 2026.

AGM Details

• AGM date announced; to be held via VC/OAVM.
• Record date for voting announced.
• Remote e-voting window to be announced.

Ordinary Resolutions

• Adopt Audited Standalone Financial Statements and reports.
• Re-appoint director by rotation.
• Appoint Statutory Auditor for five-year term.

Special Resolutions

• Re-appoint Independent Director for second five-year term.
• Re-appoint another Independent Director for second five-year term.

Director Changes

• Executive director proposed for re-appointment.
• Independent directors proposed for second terms.