Spentex Industries Ltd

CLC Industries Limited – Trading Window closed for Directors/Designated Persons from 1 October 2026 until 2 days after the public announcement of Unaudited Financial Results for the quarter ending 30 September 2026.

AGM Details

• AGM held on Friday, 11 September 2026 at 12:50 IST via video conferencing.

Key Resolutions

• Ten resolutions were placed for vote as per AGM notice; all passed.

Voting Results

• Scrutinizer's report confirms all resolutions passed with requisite majority.

AGM details

• Date and mode: 11 September 2026, via VC/OAVM with the venue deemed at the registered office.
• Meeting duration: 12:50 PM to 1:23 PM IST.
• Quorum of 35 members present throughout the meeting.
• Venue deemed to be the Registered Office.
• Scrutinizer Ajit Kumar appointed for e-voting supervision.
• Voting results to be announced within 48 hours on company and NSDL websites.

Resolutions put to vote

• Agenda 1: Adopt Audited Standalone Financial Statements for FY ended 31 March 2026.
• Agenda 2: Re-appoint Shrutisheel Jhanwar as director, retiring by rotation.
• Agenda 3: Ratification of remuneration to Cost Auditors for FY ending 31 March 2027.
• Agenda 4: Approve material RPT with Manjeet Cotton Private Limited (holding company).
• Agenda 5: Approve material RPT with Manjeet Global Private Limited.
• Agenda 6: Approve material RPT with Deegee Cotsyn Private Limited.
• Agenda 7: Approve material RPT with Sukhmani Cotton Industries.
• Agenda 8: Approve material RPT with Keshav Ginning & Pressing Factory.
• Agenda 9: Approve material RPT with DV Export.
• Agenda 10: Approve material RPT with Satyam Spinners Private Limited.

Voting outcome

• All resolutions deemed passed on 11 September 2026, subject to receipt of requisite votes.

Other governance notes

• MD addressed shareholder production queries.
• E-voting to continue for 15 minutes post-meeting for incomplete votes.

Promoter reclassification filings

• Company submitted to BSE on 28 January 2026 and NSE on 29 April 2026 for promoter-to-public reclassification.
• Reclassification under Regulation 31A(9) LODR follows NCLT May 12, 2023 order approving the Resolution Plan.
• Board noted the promoter reclassification in the 22 January 2026 meeting.
• NSE letter NSE/LIST/588 dated 1 Sep 2026 regarding applicability of Regulation 31A(2) & 8(c).
• Company is complying with SEBI LODR requirements.
• List of erstwhile promoters proposed for reclassification: nine entities; holdings shown as zero shares.

Promoter reclassification applications

• Filed with BSE on 28 Jan 2026 and NSE on 29 Apr 2026 to reclassify promoters to public.
• Action under Regulation 31A(9) LODR follows NCLT order dated May 12, 2023.
• Board noted promoter reclassification in the 22 Jan 2026 board meeting.
• NSE letter 1 Sep 2026 queried applicability of Reg 31A(2) & 8(c); company complying.
• Promoter group to be reclassified includes nine entities; all holds 0 shares.
• Promoter list includes nine entities (names listed in filing).

Regulatory status and governance context

• NCLT order May 12, 2023 approved the resolution plan affecting shareholding and control.
• Board approval noted on 22 Jan 2026; changes align with plan.
• Awaiting approvals from BSE and NSE; process ongoing.

Financial snapshot

• Revenue from operations ₹395.81 crore vs ₹61.62 crore prior year.
• Net loss ₹8.76 crore in FY2025-26.
• EPS ₹-8.43 for the year.

Profitability and margins

• EBITDA ₹50.68 lakh; depreciation ₹361.73 lakh.
• Finance costs ₹565.44 lakh; tax expense nil.
• Net loss after tax ₹8.76 crore.

Operations and revival

• Full-fledged manufacturing operations revived at Baramati facility.
• Cotton trading contributed major turnover during the year.

Capital structure and liquidity

• Total borrowings ₹69.89 crore; long-term ₹41.44 crore, short-term ₹28.44 crore.
• Promoter holding at 90% of equity.

Dividend and shareholder data

• Dividend not recommended for FY2025-26.
• Shareholding: Promoter 90%, public 10%.

Governance and risk

• Board met six times; independent directors on multiple committees.
• Related party transactions disclosed; omnibus approvals in place.

Outlook and risks

• Textile sector risks include cotton price volatility and supply chain pressures.
• Long-term outlook remains positive with policy support and domestic demand.