Eurotex Industries & Exports Limited has announced a significant change in its key managerial personnel with the resignation of Ms. Neha Garg from her position as Company Secretary and Compliance Officer. The resignation, dated March 16, 2026, marks an important corporate development for the Mumbai-based company.

Resignation Details

Ms. Neha Garg submitted her resignation letter on March 16, 2026, citing personal reasons for her departure from the company. The resignation has been accepted by Chairman and Managing Director Krishan Kumar Patodia, as evidenced by the formal acknowledgment on the resignation letter.

Regulatory Compliance

The company has fulfilled its regulatory obligations by informing both the Bombay Stock Exchange and National Stock Exchange of India about this personnel change. The notification was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates disclosure of material events and information.

The resignation letter will be placed before the Board of Directors for formal consideration and acceptance in due course. This follows standard corporate governance practices for key managerial personnel changes.

Company Information

Eurotex Industries and Exports Limited is listed on both BSE (Stock Code: 521014) and NSE (Stock Code: EUROTEXIND). The company's registered office is located at Raheja Chambers, Nariman Point, Mumbai. The resignation represents a change in the company's compliance leadership structure, requiring the appointment of a new Company Secretary and Compliance Officer to fulfill statutory requirements.

Ms. Garg expressed gratitude to the Board of Directors and management for their support during her tenure with the company. The company will need to ensure continuity in its secretarial and compliance functions following her departure.

Eurotex Industries and Exports Limited, a textile manufacturer, has reported a significant turnaround in its financial performance for the quarter ended September 30, 2025, despite the closure of its manufacturing operations at Kolhapur. The company's strategic decisions and asset sales have contributed to this positive outcome.

Financial Highlights

The company reported a profit of ₹181.10 lakhs for the quarter ended September 30, 2025, compared to a loss of ₹307.49 lakhs in the same period last year. For the half-year, Eurotex posted a profit of ₹62.00 lakhs, a significant improvement from the loss of ₹307.51 lakhs in the previous year.

Asset Sales and Operational Changes

A major contributor to the company's other income was the sale of plant and machinery and freehold land at Kolhapur, which generated ₹332.73 lakhs during the quarter. This strategic move follows the company's decision to discontinue its manufacturing operations at Kolhapur, which have been non-operational since March 2019.

Corporate Actions and Future Plans

Eurotex Industries has taken several significant steps to address its financial situation:

1. Plant Closure: The company formally announced the closure of its Kolhapur manufacturing plants on March 30, 2022, due to persistent labor issues and power disconnection.

2. Debt Settlement: Management has settled dues of lender banks by borrowing from promoter group companies, improving the company's financial position.

3. Future Development: The company plans to undertake further development of the available land area at Kolhapur in the near future, potentially opening new revenue streams.

Financial Position and Going Concern

Despite the positive quarterly results, it's important to note that the company's net worth remains eroded. However, the management has prepared the financial statements on a going concern basis, citing the following reasons:

• Settlement of bank dues
• Plans for land development at Kolhapur
• Positive cash flow from asset sales

The company's cash and cash equivalents have increased to ₹32.87 lakhs from ₹4.62 lakhs, indicating an improvement in liquidity.

Legal Matters

Eurotex is currently involved in legal proceedings regarding labor issues. The company has filed a writ petition before the Hon'ble High Court, Mumbai, following a Supreme Court directive. Management expects a favorable decision based on expert legal advice.

Conclusion

While Eurotex Industries and Exports Limited faces challenges with its discontinued manufacturing operations and eroded net worth, the company's recent financial performance shows signs of improvement. The strategic sale of assets and plans for land development indicate that management is actively working to stabilize the company's financial position and explore new opportunities for growth.

Investors and stakeholders should closely monitor the company's future developments, particularly the outcome of legal proceedings and the progress of planned land development projects at Kolhapur.