Deepak Spinners Limited will hold its 44th Annual General Meeting on August 13, 2026, at 4.00 p.m. through video conferencing to seek shareholder approval for the re-appointment of Shri Yashwant Kumar Daga as Chairman and Managing Director. The meeting will also consider the adoption of audited financial statements for the financial year ended March 31, 2026. The re-appointment, subject to regulatory approvals, is effective from December 23, 2026, for a five-year term concluding on December 22, 2031.

The Board of Directors approved the re-appointment of Shri Yashwant Kumar Daga (DIN: 00040632) at its meeting on May 26, 2026. He has been associated with the company since 1998 and holds 997,878 equity shares. He will not receive remuneration from Deepak Spinners Limited as he draws remuneration from M/s. Deepak Industries Limited, within the ceiling limits of Schedule V of the Companies Act, 2013. The company will reimburse expenses for boarding, lodging, and travel incurred during his duties.

Business to be Transacted

Shareholders will consider the adoption of audited financial statements for FY26 and the reports of the Board of Directors and Statutory Auditors. Shri Yashwant Kumar Daga, retiring by rotation and eligible for re-appointment, will be appointed as a Director. The special business includes the ratification of the remuneration of Cost Auditors for the financial year ending March 31, 2027. M/s. Shakti K. & Associates, Cost Accountants, have been appointed to conduct the cost audit, with a proposed remuneration of ₹75,000, excluding Goods and Services Tax and out-of-pocket expenses.

Voting and Participation Details

Remote e-voting commences on August 10, 2026, at 9:00 a.m. IST and concludes on August 12, 2026, at 5:00 p.m. IST. Shareholders holding shares as on the cut-off date of August 6, 2026, are eligible to vote. The facility for e-voting during the AGM is available only to shareholders attending via VC/OAVM who have not cast their vote via remote e-voting. The Register of Members and Share Transfer books will remain closed from August 7, 2026, to August 13, 2026, for the annual closing.

Deepak Spinners Limited returned to profitability in the financial year ended March 31, 2026, reporting a net profit of ₹363.78 lakh compared to a net loss of ₹1,019.01 lakh in the previous year. The company’s revenue from operations rose to ₹53,415.71 lakh from ₹52,406.66 lakh in FY25, driven by improved sales realization and effective control over operating expenses. Total comprehensive income for the year stood at ₹427.31 lakh, a significant turnaround from the negative comprehensive income of ₹996.64 lakh recorded in the prior year.

Financial Performance

The company’s profit before tax for FY26 was ₹482.59 lakh, a substantial improvement from the loss before tax of ₹1,396.92 lakh in FY25. This recovery was supported by a reduction in finance costs, which decreased to ₹273.99 lakh from ₹376.53 lakh, and a slight decline in depreciation and amortization expenses to ₹1,698.85 lakh from ₹1,755.06 lakh. The board attributed the turnaround to higher operating profitability and better cost control.

Operational Highlights and Capital Expenditure

During the year, the company focused on resource optimization and sustainable infrastructure. A 4 MW solar power plant at the Guna unit, commissioned in FY25, completed its first full year of operations, contributing to energy self-reliance and cost savings. To address rising power costs at the Baddi plant, the company installed a 2.976 MW solar power plant in FY26. Additionally, capital work-in-progress increased significantly to ₹802.77 lakh from ₹33.89 lakh, primarily due to ongoing installation of new machines and solar plants.

Corporate Governance and Board Decisions

The Board of Directors decided not to recommend any dividend for FY26, prioritizing the company’s financial position and future growth plans. The board approved the re-appointment of Shri Yashwant Kumar Daga as Chairman and Managing Director for a period of five years effective from December 23, 2026. The company also appointed M/s. Shakti K. & Associates as Cost Auditors for FY27, subject to shareholder ratification. The statutory auditors, M/s. Salarpuria & Partners, confirmed that their report contained no reservations or adverse remarks.