Avax Apparels and Ornaments Limited shareholders approved a corporate name change to Avax Limited at its 21st Annual General Meeting on September 18, 2026. The special resolution passed unanimously alongside the adoption of standalone financial statements for FY26.

The meeting was held via video conferencing. Joint Managing Director Harinderpal Singh Sodhi chaired the proceedings, which commenced at 3:30 pm and concluded at 3:44 pm. The quorum was declared present in compliance with Section 103 of the Companies Act, 2013.

Meeting Proceedings and Governance

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.

Rationale for Name Change

According to disclosures filed with the BSE under Regulation 30 of the SEBI Listing Regulations, the new name "Avax Limited" reflects the company's brand identity. Management stated that the change provides greater flexibility for expansion into existing as well as new business opportunities without being perceived as limited to any particular line of business.

The alteration involves the Name Clause of the Memorandum of Association (MOA) and consequential amendments to the Articles of Association (AOA). The change will be effective upon the issuance of a fresh Certificate of Incorporation by the Registrar of Companies (ROC). The company confirmed compliance with Regulation 45 of the Listing Regulations and obtained a certificate from a Practicing Chartered Accountant in this regard.

Voting Results Analysis

According to the scrutinizer’s report filed with the BSE, a total of 4,513,288 votes were polled out of 8,313,264 outstanding shares, representing a 54.29% turnout. All three resolutions received 100% support among votes cast, with zero votes against.

Promoter group participation was near-universal, with 99.89% of their held shares casting votes in favour. In contrast, public non-institutional shareholders had a lower turnout of 2.87%, though those who voted also supported all resolutions unanimously. No invalid votes were recorded for any category.

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.