Avax Apparels and Ornaments Limited concluded its 21st Annual General Meeting on September 18, 2026. The meeting, held via video conferencing, saw shareholders approve the adoption of standalone financial statements for the fiscal year ended March 31, 2026.

The company also secured approval for a special resolution to change its corporate name, along with consequent alterations to the Memorandum and Articles of Association. Joint Managing Director Harinderpal Singh Sodhi chaired the proceedings, which commenced at 3:30 pm and concluded at 3:44 pm.

Meeting Proceedings and Governance

The quorum was declared present in compliance with Section 103 of the Companies Act, 2013. Ms. Shruti Jain, Company Secretary and Compliance Officer, facilitated the meeting logistics. Remote e-voting was enabled from September 15 to September 17, 2026, with a cut-off date for voting eligibility set on September 11, 2026.

Key panelists present included:

• Mr. Deepak Kumar, Joint Managing Director
• Ms. Deepika Garg, Whole Time Director
• Mr. Rajat Goel, Independent Director
• Mr. Vikas Arora, Chief Financial Officer
• CS Gaurav Gupta, Secretarial Auditor and Scrutinizer

Resolutions Passed

Shareholders voted on ordinary and special business items as outlined below:

The auditors' report for the year ended March 31, 2026, contained no qualifications or adverse remarks. No shareholder queries were received prior to the meeting.

Avax Apparels and Ornaments Limited has scheduled its 21st Annual General Meeting (AGM) for Friday, September 18, 2026. The meeting will convene via video conferencing to approve the company’s name change to Avax Limited and adopt the financial results for FY26.

The Board of Directors approved the agenda during a meeting held on Monday, August 24, 2026, at the registered office in New Delhi. The resolution to alter the Memorandum of Association and Articles of Association requires shareholder approval as a special resolution.

Financial Results for FY26

The AGM will consider the standalone financial statements for the year ended March 31, 2026. Key financial metrics for the period are outlined below:

Revenue grew by 20.9% year-on-year, driven by increased trading activities. Net profit more than doubled, rising by 81.8%. However, earnings per share declined due to the sub-division of equity shares during the year, which increased the total share count without changing the paid-up capital value.

Corporate Actions and Capital Structure

During FY26, the company executed significant capital structure changes. The authorized share capital was increased from ₹200.00 lakh to ₹500.00 lakh. Subsequently, the face value of equity shares was sub-divided from ₹10 to ₹5 each. This resulted in the paid-up share capital of ₹103.92 lakh being represented by 20,78,316 shares instead of 10,39,158 shares.

Additionally, the company allotted bonus equity shares in the ratio of 3:1, further expanding the share base. No dividend was recommended for FY26, with profits transferred to reserves to conserve resources for future growth.

E-Voting and Meeting Details

Shareholders holding shares as on the cut-off date of Friday, September 11, 2026, are eligible to vote. Remote e-voting will be open from Tuesday, September 15, 2026, at 9:00 am to Thursday, September 17, 2026, at 5:00 pm. The facility is provided through Central Depository Services (India) Limited.

The meeting will also address the re-appointment of Mr. Harinderpal Singh Sodhi as Joint Managing Director, who retires by rotation. The Board has appointed M/s G Gupta and Associates as the scrutinizer for the e-voting process.