Avax Apparels And Ornaments Limited has disclosed that the provisions of Regulation 23(9) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding the disclosure of Related Party Transactions are not applicable to the company for the half year and year ended March 31, 2026. The company submitted this information to BSE Limited on May 25, 2026, confirming its compliance status based on its financial position as an SME-listed entity.

The company specified that pursuant to Regulation 15(2) of the SEBI LODR Regulations, certain provisions are not applicable to entities listed on the SME Exchange. However, a proviso to Regulation 15(2)(b) mandates compliance with Regulation 23 from April 01, 2025, if the entity has paid-up equity share capital exceeding ₹10 crore or net worth exceeding ₹25 crore as on the last day of the previous financial year.

avax apparels and ornaments confirmed that it does not exceed either of these financial thresholds. Consequently, the company is not required to submit the disclosure of related party transactions for the specified period. The company attached a certificate from a practicing Chartered Accountant to validate its financial position.

NKSC & Co., Chartered Accountants, issued a certificate certifying the paid-up share capital and net worth of the company for the financial years ended March 31, 2024, March 31, 2025, and March 31, 2026. The certification was based on a verification of the audited financial statements and written representations provided by the management.

The financial figures certified by the auditors indicate that the company's metrics remained below the regulatory limits required for the applicability of Regulation 23.

The certificate explicitly notes that net worth is defined as paid-up share capital and free reserves & surplus. This document was issued solely for submission to BSE Limited to determine the applicability of the provisions related to related party transactions.

Avax Apparels and Ornaments Limited announced its standalone audited financial results for the year ended March 31, 2026, reporting a significant rise in profitability. The company’s net profit for the fiscal year stood at ₹296.73 lakh, an increase of 81.9% compared to ₹163.18 lakh in the previous year.

Revenue from operations for FY26 grew to ₹4,153.15 lakh, up from ₹3,435.86 lakh in the corresponding period last year. Total income for the year was recorded at ₹4,153.15 lakh. The company’s total assets increased to ₹1,452.50 lakh as of March 31, 2026, compared to ₹928.82 lakh in the prior year.

Financial Performance

The profit before tax for the year improved to ₹411.15 lakh from ₹228.03 lakh in FY25. Total expenses for the year amounted to ₹3,742.00 lakh, higher than the ₹3,217.61 lakh reported in the previous year. Earnings per share (EPS) on a basic and diluted basis after the splitting of shares were reported at ₹14.28 for FY26, compared to ₹9.89 in the previous year.

Board Decisions

The Board of Directors, in its meeting held on May 25, 2026, approved the standalone audited financial results for the half-year and year ended March 31, 2026. Additionally, the Board appointed M/s. Prince Kumar & Associates as the Internal Auditor for the financial year 2026-27. M/s. G Gupta and Associates were re-appointed as Secretarial Auditors for the same period.

The statutory auditors, M/s. NKSC & Co., issued an unmodified opinion on the standalone audited financial results for the half-year and year ended March 31, 2026. The company confirmed that the financial results were prepared in compliance with the Indian Accounting Standards (Ind AS) and Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.