Euro Leder Fashion has scheduled its 34th Annual General Meeting for September 24, 2026. The company confirmed the book closure period and e-voting timeline in a filing to the BSE.

Meeting Details

The meeting will be conducted via Video Conferencing/Other Audio Visual Means (VC/OAVM) at 11:00 am. The deemed venue is the company’s registered office in Chennai. Shareholders can participate remotely without physical presence, complying with Ministry of Corporate Affairs and SEBI circulars.

Key Agenda Items

The notice outlines both ordinary and special business for shareholder approval:

• Adoption of audited financial statements for the fiscal year ended March 31, 2026.
• Reappointment of Kavinesan I.M as a director retiring by rotation.
• Appointment of RM Lakshmanan as Managing Director for a five-year term from June 27, 2026, to June 26, 2031.
• Reappointment of Ravindran Varadarajan as an Independent Non-Executive Director for five years, effective November 9, 2026.

Book Closure and Voting

The Register of Members and Share Transfer Books will remain closed from September 18, 2026, to September 24, 2026, inclusive. This closure facilitates the preparation of the register for the AGM.

Remote e-voting will open on September 21, 2026, at 9:00 am and close on September 23, 2026, at 5:00 pm. The cut-off date for voting eligibility is September 17, 2026. Central Depository Services (India) Limited (CDSL) will facilitate the process for shareholders holding shares in physical or demat mode.

Euro Leder Fashion reported a 91% decline in net profit after tax to ₹1.77 lakh for FY26, despite a 47% rise in total income. The Chennai-based leather garment manufacturer posted a revenue from operations of ₹2,845.95 lakh, up from ₹1,840.48 lakh in the previous year.

The company's profit before tax rose to ₹56.25 lakh from ₹21.47 lakh, driven by higher export sales of ₹2,676.78 lakh. However, a sharp increase in tax expense to ₹54.48 lakh from ₹2.03 lakh significantly eroded bottom-line gains. The effective tax rate jumped to 97% compared to 9% in FY25.

Financial Performance

Total income grew to ₹2,970.14 lakh in FY26, supported by operational efficiencies and sustained demand from international markets. Export sales, which constitute the bulk of revenue, increased by 61% year-on-year.

What the Numbers Show

The divergence between pre-tax and post-tax performance highlights a significant tax burden. While operating profits more than doubled, the net profit collapsed because the tax provision absorbed nearly all of the pre-tax gain. The tax expense of ₹54.48 lakh was driven primarily by current tax provisions and deferred tax charges, resulting in an effective tax rate that far exceeded the statutory rate applied in the prior year.

Board Appointments and Governance

The 34th Annual General Meeting, held on September 24, 2026, approved key management changes. Shareholders reappointed Mr. RM Lakshmanan as Managing Director for a five-year term starting June 27, 2026. His remuneration includes a monthly salary of ₹2.75 lakh along with standard perquisites.

The meeting also saw the reappointment of Mr. Ravindran Varadarajan as an Independent Non-Executive Director for a five-year term commencing November 9, 2026. Mr. Kavinesan I.M was reappointed as a Non-Executive Director by rotation.

Balance Sheet and Outlook

As of March 31, 2026, the company's total assets stood at ₹3,847.91 lakh. Borrowings decreased to ₹1,177.31 lakh from ₹1,344.78 lakh in the previous year. The board decided not to recommend any dividend for FY26 to retain profits for future growth initiatives. Management remains cautiously optimistic about demand recovery in key export markets for FY27.