Ambika Cotton Mills holds 38th AGM via VC, adopts FY26 financials
- Ambika Cotton Mills Limited held its 38th AGM on September 29, 2026, via Video Conferencing
- Shareholders adopted the audited financial statements for the year ended March 31, 2026
- P.V. Chandran was re-appointed as Managing Director through a special resolution
- K. Murali Mohan was appointed as an Independent Director
*this image is generated using AI for illustrative purposes only.
Ambika Cotton Mills Limited held its 38th Annual General Meeting on September 29, 2026, through Video Conferencing and Other Audio-Visual Means. The meeting commenced at 12:00 noon and concluded at 2:00 pm, with shareholders approving key corporate actions including the adoption of audited financial statements for FY26.
The proceedings were chaired by P.V. Chandran, Chairman and Managing Director. Director Vidya Jyothish outlined the compliance with Ministry of Corporate Affairs and Securities and Exchange Board of India circulars regarding virtual meetings. Remote e-voting was facilitated through CDSL from September 26 to September 28, 2026.
Resolutions approved by shareholders
Shareholders passed several ordinary and special resolutions during the meeting. These included the re-appointment of existing directors and the appointment of a new independent director. The company also sought approval for continued holding of office by Dr. K. Venkatachalam despite exceeding the age limit under SEBI regulations.
| Resolution No. | Type | Description |
|---|---|---|
| 1 | Ordinary | Adoption of Audited Financial Statements for FY26 |
| 2 | Ordinary | Declaration of Final Dividend for FY26 |
| 3 | Ordinary | Re-appointment of Dr. K. Venkatachalam as Director |
| 4 | Special | Re-appointment of P.V. Chandran as Managing Director |
| 5 | Special | Approval for Dr. K. Venkatachalam to continue as Non-Executive Director beyond age 75 |
| 6 | Special | Re-appointment of Mrs. Vijayalakshmi Narendra as Independent Women Director |
| 7 | Special | Appointment of K. Murali Mohan as Independent Director |
| 8 | Ordinary | Ratification of Cost Auditors' remuneration for FY27 |
Governance and voting process
The company provided both remote e-voting and venue voting facilities to ensure broad shareholder participation. Mr. N. Kulandaivel, Chartered Accountant, Coimbatore, served as the scrutinizer for the e-voting process. Results of the voting are scheduled to be disseminated to stock exchanges and uploaded on the company website within two working days of the meeting's conclusion.
During the session, members participated actively by submitting queries via email and through the meeting interface. The Chairman addressed these inquiries, noting that participants appreciated the company's performance. The meeting ended with a vote of thanks delivered by Vidya Jyothish.
Historical Stock Returns for Ambika Cotton Mill
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.52% | -5.61% | -6.70% | +30.02% | +7.59% | -8.84% |
How will the appointment of K. Murali Mohan as an independent director influence Ambika Cotton Mills' strategic direction in the coming fiscal year?
What impact might the re-appointment of Dr. K. Venkatachalam beyond the SEBI age limit have on long-term governance stability and succession planning?
How are cotton price volatility and raw material costs expected to affect the company's FY27 cost structure, given the ratification of new auditor remuneration?
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