Gangotri Textiles Limited reported a standalone loss of ₹2.39 lakh for the quarter ended June 30, 2026 (Q1FY26), slightly widening from the ₹2.37 lakh loss recorded in the corresponding quarter of FY25. The textile manufacturer recorded zero revenue from operations and zero other income, with the entire loss stemming from other expenses of ₹2.39 lakh. This financial outcome reflects the company’s ongoing operational hiatus, as all assets have been taken over and sold by lenders, preventing any commercial activity or interest payments since September 2015.

The Board of Directors approved the unaudited financial results during a meeting held on July 24, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were reviewed by the Audit Committee prior to board approval and subjected to a limited review by M. Gangadaran & Co, Chartered Accountants, who issued their report on July 17, 2026. The filing confirms that the financial statements have been prepared in accordance with Ind AS and Schedule III of the Companies Act, 2013.

Financial Performance Overview

The company’s profit and loss statement highlights a complete absence of operational revenue. Total expenses for the quarter stood at ₹2.39 lakh, comprising solely of other expenses, while cost of materials, employee benefits, and finance costs remained at nil. Depreciation and amortization expenses were also zero for the quarter, although ₹0.03 lakh was recorded for the full year ended March 31, 2026.

Basic and diluted earnings per share (EPS) for the discontinued operation stood at ₹(0.0073) for Q1FY26, matching the EPS for Q1FY25. For the full year FY26, basic and diluted EPS were ₹(0.0206). The company operates within a single segment: textiles.

Shareholding Pattern

The promoter and promoter group shareholding remained unchanged at 24.48% of the total share capital. Of this, 75% of the promoter shares (18.36% of total capital) are pledged or encumbered, while 25% (6.12% of total capital) remain non-encumbered. Public shareholding stood at 75.52%, representing 2,46,31,177 shares. There were no changes in the number of shares held by promoters or the public during the quarter.

Analytical Observation

The persistence of minimal other expenses (₹2.39 lakh) against zero revenue underscores the company’s maintenance-only status under lender control. The absence of finance costs, despite historical debt, aligns with the note that interest payments ceased after September 2015 due to asset takeover. The slight increase in quarterly loss from ₹2.37 lakh to ₹2.39 lakh is negligible and likely reflects routine administrative overheads rather than operational deterioration, given the lack of business activity.

Gangotri Textiles Limited will hold its 37th Annual General Meeting (AGM) on Friday, August 21, 2026, at 10:30 a.m., utilizing video conferencing (VC) or other audio-visual means (OAVM). The session, convened from its registered office in Coimbatore, allows shareholders to participate remotely while transacting ordinary business, including the adoption of the Directors' Report and financial statements for the fiscal year ended March 31, 2026. This virtual format ensures accessibility for all stakeholders without requiring physical presence.

The company has mandated remote e-voting for all resolutions, facilitated by Central Depository Services (India) Limited (CDSL). The voting window opens at 9:00 a.m. on Tuesday, August 18, 2026, and closes at 5:00 p.m. on Thursday, August 20, 2026. Only shareholders holding shares as of the cut-off date, Friday, August 14, 2026, are eligible to vote. Votes cast during this remote period cannot be altered, and those who vote remotely are ineligible to vote again during the live meeting.

Key Dates and Deadlines

Shareholders must note that the register of members and share transfer books will remain closed from Saturday, August 15, 2026, to Friday, August 21, 2026, inclusive. This closure prevents any changes in ownership records during the critical voting period, ensuring the integrity of the shareholder list used for determining voting rights.

Participation Guidelines

The AGM will accommodate up to 1,000 members on a first-come, first-served basis for VC/OAVM participation, excluding large shareholders (holding 2% or more), promoters, institutional investors, directors, and key managerial personnel, who may attend without restriction. Physical proxies are not permitted under current Ministry of Corporate Affairs (MCA) circulars; however, corporate representatives may attend via VC/OAVM if authorized by board resolution.

Individual demat holders can log in directly through their depository participant (CDSL or NSDL) credentials, while physical shareholders must use their folio numbers and PAN details on the CDSL e-voting portal. Institutional shareholders must submit scanned board resolutions authorizing their representatives to vote. The company emphasizes that stable internet connections are crucial for uninterrupted participation, recommending Wi-Fi over mobile hotspots to avoid audio-video glitches.

Regulatory Compliance and Disclosures

The notice cites multiple regulatory frameworks, including Section 102(1) of the Companies Act, 2013, for explanatory statements, and SEBI Circular No. SEBI/HO/CFD/CMD/CIR/P/2020/242 dated December 9, 2020, which mandates seamless e-voting access for demat holders. MCA Circulars No. 03/2025, No. 20/2020, No. 10/2022, No. 09/2023, and No. 09/2024 permit the continued use of VC/OAVM for AGMs until further orders. Additionally, Regulation 44 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, governs the remote e-voting process.

The filing discloses that a related-party transaction occurred during the fiscal year 2025-26. No directors are seeking reappointment at this meeting. Shareholders with queries regarding accounts or operations are advised to submit questions at least seven days prior to the meeting date to ensure timely responses from management.