Aastha Spintex Limited reported a 35% rise in net profit to ₹3.09 crore for the first quarter of FY27, driven by higher total income.

The textile manufacturer held its 13th Annual General Meeting (AGM) on September 16, 2026, via video conference. Shareholders approved the audited financial statements for FY26 and key corporate resolutions, including the appointment of statutory auditors and an increase in authorized share capital.

Financial Performance

The company delivered a net profit of approximately ₹23.73 crore for FY26. For the current fiscal year's first quarter (Q1FY27), total income reached approximately ₹77.46 crore, compared to a net profit of ₹2.28 crore in the corresponding quarter of the previous year.

Key Resolutions

The Board recommended a dividend of ₹0.10 per equity share, aggregating to approximately ₹44 lakhs. Members approved several ordinary and special resolutions during the meeting:

• Adoption of standalone and consolidated financial statements for FY26.
• Re-appointment of Shri Jashvantbhai Valjibhai Patel as a director retiring by rotation.
• Appointment of M/s. S N D K & Associates LLP as Statutory Auditors for five years.
• Appointment of Shri Utsav Himanshu Trivedi as an Independent Director.
• Increase in authorized share capital and consequential alteration of the Memorandum of Association.
• Issue of bonus equity shares by capitalisation of reserves.

What the Numbers Show

The divergence between Q1FY27 total income (₹77.46 crore) and net profit (₹3.09 crore) indicates a net margin of approximately 4%. This compares to a prior-year Q1 net profit of ₹2.28 crore, suggesting improved profitability despite the lack of disclosed prior-period revenue figures for direct margin comparison.

Meeting Details

The meeting was chaired by Managing Director Divyang Jashwant Patel. Sixty-nine shareholders attended via video conferencing, comprising 11 promoters and 58 public shareholders. No queries were raised by registered speaker shareholders. The e-voting facility remained open for 15 minutes post-proceedings.

Aastha Spintex Limited has scheduled its 13th Annual General Meeting (AGM) for September 16, 2026, to be conducted via video conferencing. The meeting agenda features significant corporate actions, including a proposed 1:1 bonus share issue and an increase in authorized capital.

The Board of Directors has recommended a final dividend of ₹0.10 per equity share for FY26, subject to shareholder approval. Shareholders holding shares as on the record date of September 9, 2026, will be eligible for the dividend payout, which is expected within 30 days post-AGM. Remote e-voting for the AGM opens on September 12, 2026.

Key Corporate Actions

The AGM will seek approval for several material resolutions:

• Bonus Issue: Approval for a 1:1 bonus issue from free reserves and securities premium, capitalizing up to ₹44.14 crore as of March 31, 2026.
• Dividend Payout: Declaration of a final dividend of ₹0.10 per equity share (face value ₹10) for FY26, totaling approximately ₹44.14 lakh including tax.
• Authorized Capital Increase: Raising authorized share capital from ₹45 crore to ₹100 crore, altering the Memorandum of Association accordingly.
• Auditor Appointment: Appointment of S N D K & Associates LLP as Statutory Auditor for five years, replacing S N Shah & Associates. Utkarsh Shah & Co. is appointed as Secretarial Auditor for the same term.

Board Composition Changes

Mr. Utsav Himanshu Trivedi was appointed as an Additional Independent Director effective August 25, 2026, subject to shareholder approval. His appointment fills the casual vacancy created by the resignation of Mr. Anant Bharatbhai Bhatt, who stepped down due to pre-occupation. Mr. Jashvantbhai Valjibhai Patel retires by rotation and offers himself for re-appointment.

Financial Performance Context

For FY26 ended March 31, 2026, Aastha Spintex reported revenue of ₹44,264.27 lakh, a 26% increase from ₹35,116.02 lakh in FY25. Net profit rose marginally to ₹2,373.58 lakh from ₹2,349.61 lakh. The bonus issue reflects the company’s strong reserve position, with net worth strengthening to ₹16,039.15 lakh from ₹12,201.83 lakh in the previous year.

What the Numbers Show

The proposed 1:1 bonus issue indicates robust retained earnings and securities premium reserves, allowing the company to expand its share base without diluting promoter ownership or raising external debt. With net worth growing by over 31% YoY while profit growth remained modest at 1%, the move enhances marketability of shares, potentially improving liquidity for the recently listed entity.