AYM Syntex unsecured creditors approve Mandawewala amalgamation

Unsecured creditors of [AYM Syntex Limited](aym syntex) have approved the amalgamation of Mandawewala Enterprises Limited with the company, securing 100% of the votes polled. The resolution received 526,235,489 votes in favour from 54 creditors, with no votes cast against it. This approval follows an order dated April 6, 2026, by the Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench, under Sections 230 to 232 of the Companies Act, 2013.

The meeting was convened on May 25, 2026, through Video Conferencing (VC) and Other Audio Visual Means (OAVM). Mr. Hitesh Gupta, a Practicing Company Secretary, served as the Scrutinizer, while Ms. Mala Tadarwal, appointed by the NCLT, chaired the proceedings. The cut-off date for determining creditor eligibility was September 30, 2025. The remote e-voting facility commenced on May 20, 2026, and concluded on May 24, 2026.

Voting Results

The resolution received unanimous support from the participating unsecured creditors. A total of 526,235,489 votes were polled. The detailed voting pattern is as follows:

Manner of Voting	No. of Unsecured Creditors	Votes Polled	Votes In Favour	% In Favour
Remote e-voting	54	526,235,489	526,235,489	100
E-voting during the meeting	0	0	0	0
Total	54	526,235,489	526,235,489	100

Category-wise Breakdown

The voting participation across different creditor categories was as follows:

Category	No. of Votes Polled	Votes In Favour	% In Favour
Promoter and Promoter Group	0	0	0
Public-Institutions	0	0	0
Public-Non Institutions	526,235,489	526,235,489	100
Total	526,235,489	526,235,489	100

Key Resolution Details

Sr. No.	Particulars	Type of Resolution
1.	To consider and approve the Scheme of Amalgamation of Mandawewala Enterprises Limited (“Transferor Company”) with AYM Syntex Limited (“Transferee Company”) and their respective shareholders under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013.	Special Resolution

The scrutinizer's report confirmed that 54 members participated in the voting process. The proceedings were submitted in compliance with Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.93%	-3.67%	-4.91%	+31.69%	+10.22%	+230.79%

AYM Syntex has reported its annual audited financial results for the quarter and financial year ended March 31, 2026. The company's Board of Directors approved the results during a meeting held on May 19, 2026. The statutory auditors, Price Waterhouse Chartered Accountants LLP, issued an unmodified opinion on the standalone and consolidated financial results. The company also disclosed that the audited standalone and consolidated financial results were published in The Financial Express and Mumbai Lakshdeep on May 21, 2026, under Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance

For the quarter ended March 31, 2026, the company reported a consolidated net profit of 90.2M rupees, a significant increase from 20.2M rupees in the corresponding period of the previous year. Revenue from operations for the quarter stood at 3.66B rupees, compared to 3.61B rupees in the same period last year. For the full financial year FY26, consolidated net profit was 65.5M rupees, while revenue was 13.65B rupees.

Key Metrics

The following table summarizes the consolidated financial performance for the quarter and year ended March 31, 2026:

Metric:	Q4 FY26 (M Rupees)	Q4 FY25 (M Rupees)	FY26 (M Rupees)	FY25 (M Rupees)
Revenue from Operations:	3,657.7	3,606.2	13,651.2	14,890.0
Total Income:	3,679.7	3,629.2	13,756.3	14,950.1
Total Expenses:	3,545.4	3,583.6	13,660.1	14,756.5
Net Profit:	902.0	202.0	655.0	1,163.0
Basic EPS (₹):	1.54	0.37	1.12	2.13

Operational Details

The company noted that the financial results were prepared in accordance with the Indian Accounting Standards (Ind AS). During the quarter, the Group recognized an estimated incremental impact of 1.22M rupees under employee benefits expense due to the New Labour Codes. Additionally, the Board has approved a Scheme of Merger for Mandawewala Enterprises Limited with AYM Syntex Limited, which is pending necessary approvals.