Blue Chip Tex Industries Limited convened its 41st Annual General Meeting on September 22, 2026, through video conferencing. The session focused on adopting FY26 financial statements and addressing shareholder concerns regarding the company's operational efficiency and market positioning.

Key resolutions and attendance

The meeting was chaired by Shahin N. Khemani, Chairman and Managing Director. A total of 27 members attended the virtual session. The Board presented the audited financial statements for the fiscal year ended March 31, 2026, alongside reports from the Board of Directors and Statutory Auditors. The auditors' reports contained no qualifications or adverse remarks.

Six ordinary and special resolutions were put to vote:

1. Adoption of audited financial statements for FY26.
2. Re-appointment of Rahul A. Khemani as Director retiring by rotation.
3. Ratification of cost auditor remuneration for FY27.
4. Alteration and adoption of new Memorandum of Association (MOA).
5. Alteration and adoption of new Articles of Association (AOA).
6. Appointment of Saurabh S. Somani as Independent Director.

Shareholder engagement and management responses

During the Q&A session, shareholders raised specific inquiries regarding the company's strategic outlook and operational metrics. One shareholder requested that future AGMs be scheduled in early September and sought arrangements for factory visits. The management acknowledged these requests for future consideration.

Another inquiry focused on the company's exposure in domestic versus international markets and the geographic distribution of its textile supplies. The management addressed these queries directly during the session.

A third shareholder questioned why the company was operating at the break-even point and whether this performance aligned with industry peers. Concerns were also raised regarding the age of the machinery and its potential impact on operations.

In response, the management stated that the company's performance remains in line with industry peers. Regarding asset utilization, the Board clarified that the machinery is well-maintained and regularly upgraded, ensuring that equipment age does not disadvantage operations. Remaining detailed queries were to be addressed via email post-meeting.

Governance and compliance details

The meeting adhered to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Ministry of Corporate Affairs circulars permitting virtual meetings. Binita Gosalia, Company Secretary and Compliance Officer, outlined the voting procedures and regulatory instructions.

Pramod S. Shah, Partner at M/s Pramod S. Shah & Associates, served as the Scrutinizer for the e-voting process. Voting results are to be communicated to the stock exchange and published on the company website within 48 hours of the meeting's conclusion.

Counter Cyclical Investments Private Limited reduced its holding in Blue Chip Tex Industries to 5.62% following an open-market sale of 2,340 shares on September 2, 2026.

The portfolio manager, acting on behalf of its clients, disclosed the disposal under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The transaction was executed via the open market, as confirmed in the filing submitted to BSE Limited.

Shareholding Changes

Prior to the sale, Counter Cyclical Investments held a total of 113,001 shares, representing 5.73% of the company’s total voting capital. The disposal of 2,340 shares, equivalent to 0.12% of the voting capital, brought the post-transaction holding down to 110,661 shares.

The total equity share capital of Blue Chip Tex Industries remained unchanged at 19,70,500 shares both before and after the transaction. There were no changes in encumbered shares, warrants, or other convertible securities during this period.

Regulatory Disclosure

The disclosure was signed by Parminder Pal Singh Bhatia, Director of Counter Cyclical Investments Private Limited, and dated September 3, 2026. The firm is registered in Nagpur, Maharashtra, and operates as a portfolio manager for its clients, who are considered persons acting in concert (PAC).

What the Numbers Show

The reduction in stake is marginal, involving less than 2% of the entity’s prior holding (2,340 out of 113,001 shares). The investor remains a significant shareholder with a stake above 5%, maintaining substantial influence without crossing any additional regulatory thresholds that would trigger further open offer obligations under SAST regulations.