Ashapura Intimates Fashion Limited (BSE: 535467) will hold its annual general meeting on September 30, 2026, with the share transfer book closed from September 24 to September 30, 2026.

The company seeks shareholder approval to expand into agriculture, real estate, jewellery, and information technology, alongside shifting its registered office from Maharashtra to Gujarat. The board approved these strategic changes on September 4, 2026.

Strategic Expansion

The proposed new main object clauses replace existing provisions to cover four distinct sectors:

• Agriculture and Food: Manufacturing, processing, and trading of agricultural products, edible oils, and allied goods.
• Real Estate and Infrastructure: Development of residential, commercial, and industrial properties, along with infrastructure projects like roads and bridges.
• Jewellery: Designing, manufacturing, and trading of ornaments, precious stones, and gemstones.
• Technology: Development of software, artificial intelligence, machine learning, and data science solutions.

Board Regularizations

The AGM agenda includes the regularization of three directors appointed following the company's revival by the National Company Law Tribunal (NCLT), Mumbai Bench, on June 3, 2025. The NCLT had discharged all previous directors and key managerial personnel as part of the revival process.

Shareholders will vote on the following appointments:

Mr. Nikunj Sureshchandra Shah (DIN: 09677879), the Managing Director, retires by rotation and seeks reappointment for a five-year term from July 1, 2025, to June 30, 2030.

Financial Performance

For FY26, the company reported a net profit of ₹4.87 lakh, compared to a net profit of ₹262.86 lakh in FY25. Total revenue from operations was nil for both years, with other income contributing ₹2.31 lakh in FY26 versus ₹19.15 lakh in FY25. The profit for FY26 was driven primarily by exceptional items, which included a gain of ₹469.32 lakh from the sale of assets, offset by impairment gains of ₹379.89 lakh.

Corporate Actions

The meeting is scheduled for 11:00 am at Plot no. 1, Pusha Park, Daftary Road, Malad East, Mumbai. Dharti Patel & Associates was appointed as the scrutinizer for the AGM.

Additional agenda items include:

• Adoption of audited financial statements for FY26.
• Appointment of M/s. N K Sarraf & Associates as statutory auditors for FY26-27.
• Appointment of M/s. Dharti Patel & Associates as secretarial auditor for five years, commencing FY26-27.

Remote e-voting will be available via NSDL from September 27, 2026, to September 29, 2026.

Ashapura Intimates Fashion Limited reported a return to profitability in the first quarter of FY27, driven by a substantial expansion in revenue and operational efficiency. The company posted a net profit of ₹10.31 lakh for the quarter ended June 30, 2026, reversing the net loss of ₹47.85 lakh recorded in the same period last year.

Total income from operations rose significantly to ₹398.51 lakh, up from just ₹2.31 lakh in Q1FY26. This surge in top-line growth was accompanied by an improvement in pre-tax profit before exceptional items, which stood at ₹13.77 lakh against a loss of ₹47.85 lakh in the prior year quarter.

The Board of Directors, at its meeting held on August 14, 2026, approved the unaudited standalone financial results. The results were reviewed by the Audit Committee and are available on the company’s website and stock exchange portals.

What the Numbers Show

The financial data reveals a distinct bifurcation between operational performance and exceptional items. While the core operations generated a pre-tax profit of ₹13.77 lakh, the reported pre-tax profit after exceptional items stands at ₹113.77 lakh. This indicates that exceptional items contributed approximately ₹100 lakh to the bottom line for the quarter. Investors should note that while the operational turnaround is evident through the revenue jump, the overall profitability metric is heavily influenced by these non-recurring adjustments.