Bhandari Hosiery Exports Limited has announced that its board of directors will meet on Friday, May 29, 2026. The meeting is convened pursuant to Regulation 29 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Agenda for the Meeting

The board will deliberate on several key matters during the session. The primary focus will be on the company's financial performance for the recent period.

The directors are scheduled to consider and approve the standalone audited financial results of the company for the quarter and financial year ended March 31, 2026. Furthermore, the board will take on record the Auditor’s Report on the financials.

In addition to the financial results, the board will consider and recommend a final dividend on equity shares for the financial year ended March 31, 2026, subject to the approval of the shareholders.

Trading Window Closure

The company has also informed the exchanges regarding the closure of the trading window. As per the intimation dated March 26, 2026, the trading window for dealing in the securities of the company remains closed.

This restriction applies to all promoters, directors, connected or designated persons, and their immediate relatives. The window closed on April 1, 2026, and will remain shut until 48 hours after the declaration of the audited financial results for the quarter and financial year ended March 31, 2026.

Bhandari Hosiery Exports Limited has disclosed the outcome of the Monitoring Agency Report regarding the utilization of proceeds from its Rights Issue for the quarter ended March 31, 2026. The report, approved by the Audit Committee and the Board of Directors in their meeting held on May 6, 2026, was submitted to the stock exchanges on May 7, 2026. The Rights Issue, which opened on March 6, 2026, and closed on March 20, 2026, was managed by Crisil Ratings Limited as the Monitoring Agency.

Issue Size and Fund Allocation

The company initially aimed to raise fresh equity funds amounting to Rs 4,930.00 lakh. However, due to undersubscription, the gross proceeds were revised to Rs 2,378.41 lakh. Following the deduction of issue expenses amounting to Rs 100.00 lakh, the net proceeds stood at Rs 2,278.41 lakh. Consequently, the Board of Directors revised the allocation of funds, deferring the objects related to the reduction in long-term loans and General Corporate Purpose (GCP). The entire net proceeds were directed towards the company's long-term working capital requirements. The table below summarises the revised cost allocation across all objects of the issue:

Utilization of Proceeds

During the quarter ended March 31, 2026, the company utilized a total of Rs 678.61 lakh from the gross proceeds. The deployment of funds was categorized as follows:

The funds for working capital were used for the procurement of raw materials, while issue expenses were directed towards fees paid to BRLMs. As of the end of the quarter, the total unutilized gross proceeds amounted to Rs 1,699.80 lakh, which are maintained in a Monitoring Account with Axis Bank.

Implementation Status and Future Plans

The report highlights a delay in the implementation of the long-term working capital object. The company had estimated utilizing the allocated sum by Fiscal 2026 but had only utilized Rs 671.66 lakh by the end of the fiscal year. This delay is attributed to the receipt of gross proceeds on March 27, 2026, leaving only three days for utilization before the quarter end. The Board of Directors, via a resolution dated April 6, 2026, has approved the utilization of the remaining proceeds on or before June 30, 2026, to fulfill the long-term working capital requirements.