Angel Fibers held its 13th Annual General Meeting on August 22, 2026, where management addressed a decline in profitability for the financial year ended March 31, 2026. The company expressed optimism regarding future growth despite the recent downturn.

The meeting took place at the company's registered office in Jamnagar, Gujarat. Mr. Pankajbhai Becharbhai Bhimani, Whole-time Director, chaired the proceedings after being elected by members present. He briefed shareholders on the overall performance for FY26 and outlined reasons for the decrease in profit compared to the previous year.

Mr. Rohankumar Raiyani, Managing Director, detailed the key factors responsible for the decline in profitability during the reporting period. With Chief Financial Officer Mr. Ashish Desai absent, Company Secretary Ms. Reena Jayantilal Kanabar reported on the financial performance for the year.

Key Resolutions Passed

Shareholders approved several ordinary and special resolutions during the meeting. These included the adoption of audited financial statements and the reappointment of directors. The Board also sought approval for material related-party transactions with three entities.

Governance and Audit

The Statutory Auditor’s Report for FY26 contained no qualifications or observations and was taken as read. The Secretarial Audit Report was also reviewed by Ms. Kanabar, followed by a detailed discussion among attendees.

Mr. Rameshkumar Jivrajbhai Ranipa, Chairman and Whole-time Director, along with Independent Directors Mr. Rutvikkumar Prabhudas Bhensdadiya and Mr. Chandrakant Bhimjibhai Gopani, were absent due to personal reasons. M/s. SCS and Co LLP served as the Scrutinizer for votes cast via remote e-voting and during the meeting.

Angel Fibers has approved the re-appointment of Rutvikkumar Prabhudas Bhensdadiya as an Independent Director for a second consecutive five-year term. The decision was taken by the Board of Directors during its meeting held on July 30, 2026, at the company’s registered office in Jamnagar, Gujarat. The re-appointment is effective from September 3, 2026, to September 2, 2031, subject to shareholder approval at the forthcoming Annual General Meeting (AGM).

The Board also approved the draft Directors’ Report for the financial year 2025-26 and scheduled the 13th AGM for August 22, 2026. The meeting will commence at 11:00 A.M. at the registered office located at Survey No. 100/1, Plot No.1, Haripar, Jamnagar. The company appointed National Securities Depository Limited (NSDL) as the remote e-voting agency and M/s. SCS and Co LLP as the scrutinizer for the e-voting process.

Director Profile and Terms

Rutvikkumar Prabhudas Bhensdadiya, who holds a Bachelor of Engineering degree in Chemical Engineering obtained in 2014, brings expertise in staff and general management from his background in the hotel business. He was initially appointed as an Independent Director on September 2, 2021. His new term will run for five consecutive years, following his first term.

The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No: SEBI/HO/CFD/CFDPoD1/P/CIR/2023/123 dated July 13, 2023. The company confirmed that Mr. Bhensdadiya is not debarred from holding the office of director under any SEBI order and has no inter-se relationship with other directors.

Corporate Governance and Compliance

The Board meeting commenced at 6:15 P.M. and concluded at 7:30 P.M. on July 30, 2026. Alongside the director’s re-appointment, the Board considered and approved all other agenda items circulated prior to the meeting. The Notice of the 13th AGM and the Annual Report for FY25-26 will be submitted to the stock exchanges once dispatched to shareholders via email.

What This Means for Shareholders

Shareholders must approve the re-appointment of Mr. Bhensdadiya at the AGM scheduled for August 22, 2026. The company has established a schedule for remote e-voting, with specific cutoff, start, and end dates to be communicated alongside the AGM notice. The appointment strengthens the board’s independence, leveraging Mr. Bhensdadiya’s management and engineering expertise to guide corporate strategy.