Ashapura Intimates Fashion Limited (NSE: AIFL) will hold a board meeting on September 24, 2026, to consider proposals for reducing share capital and raising funds through a preferential issue.

The agenda follows specific relief orders from the National Company Law Tribunal (NCLT) Mumbai Bench. The board aims to approve these structural changes as part of the company’s ongoing corporate actions.

Board Agenda Details

The meeting focuses on two primary regulatory approvals mandated by recent tribunal orders:

• Share Capital Reduction: Approval of the proposal as per the NCLT Mumbai Bench relief order dated June 3, 2025 (IA 887/2025 in C.P. (IB)/4488(MB)2018).
• Preferential Issue: Approval of the fund-raising proposal via preferential allotment, based on the NCLT Mumbai Bench relief order dated June 3, 2026 (IA 887/2025 in C.P. (IB)/4488(MB)2018).

The board may also address other items with the chairperson’s permission.

What the Numbers Show

The source document is a procedural intimation regarding upcoming corporate governance actions. It contains no financial performance data, balance sheet figures, or operational metrics. Consequently, no analytical observation regarding revenue, profit, or margin trends can be derived from this filing.

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.