Acknit Industries Limited has scheduled its 36th Annual General Meeting (AGM) for Wednesday, September 16, 2026, at 11:30 am. The meeting will be conducted through Video Conferencing (VC) or Other Audio-Visual Means (OAVM) in compliance with Ministry of Corporate Affairs (MCA) Circular No. 03/2025 dated September 22, 2025, and SEBI regulations.

The primary ordinary business items include receiving, considering, and adopting the Audited Standalone Financial Statements for the financial year ended March 31, 2026, along with the reports of the Directors and Auditors. Additionally, shareholders will vote on the declaration of a final dividend of ₹1.50 (15%) per equity share of face value ₹10 each for FY26.

Director Appointments and Re-appointments

The AGM will also transact special business regarding board composition. Shareholders are requested to approve the following resolutions:

• Re-appointment of Mr. Deo Kishan Saraf as a Director, who retires by rotation and offers himself for re-appointment.
• Re-appointment of Mr. Rajarshi Ghosh as a Non-Executive Independent Director for a second term of five years, commencing from June 30, 2026.
• Re-appointment of Mr. Shankar Lal Bajaj as a Non-Executive Independent Director for a second term of five years, commencing from September 25, 2026.
• Appointment of Mr. Tushar Jhunjhunwala as a Non-Executive Independent Director for a term of five years, commencing from July 14, 2026.
• Appointment of Mr. Amitava Mazumder as a Non-Executive Independent Director for a term of five years, commencing from July 14, 2026.

Record Date and Book Closure

The Register of Members and Share Transfer Books will remain closed from Thursday, September 10, 2026, to Wednesday, September 16, 2026, both days inclusive. This closure is to determine members eligible for the declaration of dividend, if approved at the AGM. The record date for determining eligibility for the dividend for the financial year ended March 31, 2026, is fixed as Wednesday, September 9, 2026.

E-Voting and Participation

The company has engaged Central Depository Services (India) Limited (CDSL) to facilitate remote e-voting. The remote e-voting period begins on Saturday, September 12, 2026, at 9:00 am and ends on Tuesday, September 15, 2026, at 5:00 pm. Members holding shares as on the cut-off date of September 9, 2026, are eligible to cast their votes electronically. Physical attendance is dispensed with, and proxy forms are not annexed to the notice.

Ms. Rekha Goenka, Practicing Company Secretary (Membership No. FCS-12590), has been appointed as the Scrutinizer to oversee the e-voting process and voting at the AGM in a fair and transparent manner. The results will be declared forthwith after the conclusion of the meeting and made available on the company’s website and BSE Limited.

Acknit Industries reported a net profit of ₹818.41 lakh for the financial year ended March 31, 2026, marking a 9% decline from the ₹899.51 lakh recorded in FY25. Total revenue remained largely unchanged at ₹24,076.43 lakh, compared to ₹24,084.81 lakh in the previous year, reflecting a marginal decrease of 0.03%.

The decline in profitability was primarily driven by a significant increase in finance costs, which rose to ₹389.17 lakh from ₹293.45 lakh in FY25. This surge in interest expenses offset the operational stability seen in gross profit, which stood at ₹1,798.13 lakh against ₹1,839.48 lakh in the prior year.

Segment Performance

The company operates across four distinct segments, with Hand Gloves and Garments contributing the majority of revenues.

While the core Hand Gloves segment saw a revenue contraction of 7.7%, the Garments segment delivered strong growth, with revenue increasing by 10.9% to ₹8,969.39 lakh. The "Others" segment, comprising non-conventional industrial safety gears, also expanded its revenue by 8.4% to ₹2,351.26 lakh and improved its surplus to ₹62.35 lakh from ₹17.59 lakh.

What the Numbers Show

A notable divergence exists between the company's operating efficiency and its bottom-line performance. While gross profit before depreciation and finance cost declined marginally by just 2.2%, net profit fell by 9%. This discrepancy highlights the outsized impact of financing costs on the final result. Finance costs now constitute approximately 32% of gross profit, up from roughly 16% in the previous year, indicating that debt servicing is becoming a more significant drag on shareholder returns.

Dividend and Capital Allocation

The Board of Directors has recommended a final dividend of ₹1.50 per equity share, representing a 15% payout on the face value of ₹10. This translates to a total appropriation of ₹45.60 lakh, subject to shareholder approval at the Annual General Meeting scheduled for September 16, 2026. The company also proposed transferring ₹500 lakh to the General Reserve.

Governance Updates

Acknit Industries will hold its 36th AGM via video conferencing. Key agenda items include the re-appointment of Whole-time Director Mr. Deo Kishan Saraf and the appointment of two new Non-Executive Independent Directors, Mr. Tushar Jhunjhunwala and Mr. Amitava Mazumder. Additionally, the company altered its Main Object Clause in December 2025 to facilitate diversification into new business areas.