Candour Techtex Limited shareholders approved alterations to the company's object clause and sanctioned the variation of objects for a preferential allotment during an Extra Ordinary General Meeting (EGM) held on July 22, 2026. The meeting, conducted via video conferencing, also authorized the reallocation of unutilized proceeds from the preferential issue, providing the company with greater flexibility in deploying funds. These resolutions are part of the special business intended to modify the company's constitutional and financial framework.

The EGM was chaired by Jayesh R Mehta, Managing Director of Candour Techtex , and was held in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The proceedings adhered to relevant circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India (SEBI) regarding meetings conducted through video conferencing and other audio-visual means.

M/s. S P K G & Co. LLP, Practicing Chartered Accountant, was appointed as the scrutinizer to oversee the remote e-voting process. Remote e-voting commenced at 9.00 a.m. on July 18, 2026, and concluded at 5.00 p.m. on July 21, 2026. Additionally, e-voting facilities were available to members during the meeting itself for those who had not cast their votes remotely.

The following resolutions were passed under the special business agenda:

During the meeting, Ms. Lekha Shah, the only registered speaker, addressed the members. She expressed full confidence in the management and conveyed her support for the proposed resolutions. The voting results and the scrutinizer's report are scheduled to be disseminated to the stock exchanges and published on the company's website shortly.

Candour Techtex Limited will seek shareholder approval to alter its object clause and reallocate unutilized proceeds from a preferential issue at an Extra-Ordinary General Meeting (EGM) on Wednesday, July 22, 2026. The proposed amendments aim to diversify business activities into naval and defense shipbuilding, as well as aerospace engineering and aviation products, addressing challenges in its traditional textile business such as higher tariffs and supply chain disruptions. The company also seeks approval to vary the utilization of ₹102.60 crore in unutilized funds raised through the preferential allotment of equity shares and warrants.

The Board of Directors approved the proposal on June 18, 2026, to amend the Memorandum of Association to facilitate entry into high-growth sectors. The proposed insertion of new clauses will enable the company to undertake business related to naval vessels, warships, and aerospace engineering products. M/s. S P K G & Co. LLP, Chartered Accountants, has been appointed as the Scrutinizer to scrutinize the remote e-voting process and voting at the EGM.

Shareholders will vote on the reallocation of funds raised through a preferential issue. The issue, originally approved to raise ₹198.23 crore, was undersubscribed, with the company actually raising ₹165.34 crore through the allotment of 52,54,700 equity shares and 79,72,600 convertible warrants at ₹125 per share. The revised deployment plan proposes withdrawing the allocation of ₹15.00 crore for investments in subsidiaries and strategic acquisitions, reducing the general corporate purpose allocation by ₹5.00 crore, and increasing the working capital allocation by ₹15.00 crore.

Utilization of Preferential Issue Proceeds

For the financial year ended March 31, 2026, the company reported a net loss of ₹146.89 lakh, reversing the net profit of ₹67.28 lakh recorded in the previous year. Revenue from operations for the year stood at ₹5,812.93 lakh, a decrease from ₹18,810.18 lakh in FY25. The statutory auditors, M/s. Ambavat Jain & Associates LLP, issued an audit report with an unmodified opinion on the standalone financial results. The remote e-voting period commences on July 18, 2026, at 9:00 a.m. and ends on July 21, 2026, at 5:00 p.m.