Akshar Spintex has scheduled its 13th annual general meeting for September 28, 2026, to approve the appointment of M/s. H. Jamnadas & Company as statutory auditor for five years. The meeting will also ratify director remuneration packages amid a reported net loss of ₹738.94 lakh for FY26.

The board approved these proposals during its September 1, 2026 meeting. Shareholders will vote on ordinary and special resolutions covering auditor fees, cost audit remuneration, and executive compensation structures.

Auditor and Cost Audit Appointments

The board recommended appointing M/s. H. Jamnadas & Company (Firm Registration No. 104033W) as statutory auditor, replacing the retiring M/s. H. B. Kalaria & Associates. The term runs from the conclusion of the AGM until the AGM in 2031.

The proposed remuneration for the new statutory auditor is ₹5,00,000 plus applicable taxes and out-of-pocket expenses for FY27, an increase from the ₹4,50,000 paid to the outgoing auditor. For the cost audit of FY27, the board approved remuneration of ₹36,000 plus taxes and expenses for M/s. Mitesh Suvagiya & Co., subject to shareholder ratification.

Director Remuneration and Re-appointments

Several director-related proposals were approved based on Nomination and Remuneration Committee recommendations:

• Mrs. Illaben Dineshbhai Paghdar: Remuneration up to ₹15,00,000 per annum for three years from October 1, 2026, to September 30, 2029.
• Mr. Harry D. Paghdar (Executive Director): Remuneration up to ₹12,00,000 per annum for three years from October 1, 2026, to September 30, 2029. This proposal is being re-submitted after a previous postal ballot resolution failed to secure requisite majority.
• Mr. Harikrushna Shamjibhai Chauhan (Chairman-cum-Whole Time Director): Re-appointment for three years from January 8, 2027, to January 7, 2030, with remuneration up to ₹30,00,000 per annum.

Mr. Parshotam Lakhabhai Vasoya is recommended for re-appointment as an Independent Director for a second and final five-year term starting September 28, 2026. Mr. Sureshkumar Chaturbhai Gajera is recommended for appointment as an Independent Director for five years from the AGM date.

Financial Performance Context

The company reported revenue from operations of ₹11,728.12 lakh in FY26, a marginal increase from ₹11,676.91 lakh in FY25. However, net loss widened to ₹738.94 lakh from ₹444.81 lakh in the previous year. The chairman attributed the results to volatility in raw material prices, fluctuating demand, and changing global market conditions.

AGM Logistics and Compliance

The 13th AGM will be conducted via video conferencing or other audio-visual means on September 28, 2026, at 1:30 pm. Remote e-voting through National Securities Depository Limited (NSDL) will be available from September 23, 2026, at 9:00 am to September 27, 2026, at 5:00 pm. The cut-off date for e-voting eligibility is September 21, 2026.

CS Dipali Vora (FCS 21254) was appointed as the scrutinizer for the voting process. The board also took note of the secretarial audit report for FY26 issued by M/s. D N Vora & Associates and approved the directors' report for the financial year ended March 31, 2026.

Akshar Spintex announced that Mr. Parshotam L. Vasoya ceased to serve as an independent director on August 22, 2026, marking the end of his tenure. The departure follows the natural expiration of his term rather than any voluntary resignation or removal.

The company filed disclosures under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and pursuant to SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. These filings confirm that Mr. Vasoya’s existing tenure concluded on August 22, 2026.

Board Composition and Succession

Akshar Spintex stated it will initiate the process to identify and evaluate a suitable candidate for appointment as an independent director. This action aims to ensure compliance with prescribed board composition requirements under the Companies Act, 2013 and SEBI listing regulations.

The company will make requisite disclosures to stock exchanges upon finalizing the new appointment. Harikrushna Shamjibhai Chauhan, Chairman cum Whole Time Director, signed the disclosure on behalf of the company.

Regulatory Details

The filing included specific details regarding the cessation event as required by Schedule III of the Listing Regulations:

The company expressed appreciation for the contributions rendered by Mr. Vasoya during his tenure. No relationships between directors or other listed entity appointments were disclosed for this cessation event.