Girnar Spintex Industries Limited approved its Board’s report for the financial year ended March 31, 2026, and scheduled its Annual General Meeting for September 30, 2026.

The Board of Directors held its meeting on September 4, 2026, to finalize corporate governance matters ahead of the upcoming fiscal year. The company confirmed that the AGM will be conducted through video conferencing or other audio-visual means.

Auditor Re-appointments

The Board also re-appointed key audit professionals for the Financial Year 2026-27 based on Audit Committee recommendations:

• Internal Auditor: M/s. Thigale Utturkar and Associates, Chartered Accountants. The firm has over 10 years of experience in statutory audits of PSUs and government departments.
• Cost Auditor: M/s. Nilesh Ashok Chalke, Cost Accountant. He possesses more than eight years of post-qualification experience.

These appointments were made pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Meeting Details

The Board meeting commenced at 4:00 pm and concluded at 7:00 pm. The re-appointment disclosures for both auditors were enclosed as annexures to the regulatory filing.

Girnar Spintex Industries Limited narrowed its net loss to ₹0.34 crore for the quarter ended June 30, 2025, compared to a net loss of ₹0.76 crore in the corresponding quarter of the previous year. The company reported revenue from operations of ₹24.66 crore for Q1FY25, a 23.26% increase from ₹20.01 crore in Q1FY24. The financial results were reviewed and approved by the Board of Directors at its meeting held on August 15, 2025.

The improvement in revenue was attributed to the forward integration strategy, which included the acquisition of a fabric manufacturing unit on a slump sale basis effective March 1, 2025. This unit contributed approximately ₹6.87 crore in revenue during its first month of operation. Despite this addition, the company continues to operate as a single reportable operating segment under Ind AS 108, classified as textile and allied activities.

Total expenses for the quarter rose to ₹26.09 crore from ₹20.77 crore in the prior year, primarily due to increased costs of materials consumed and employee benefits. The cost of materials consumed stood at ₹17.35 crore, while employee benefit expenses increased to ₹1.06 crore. Finance costs for the period were recorded at ₹1.09 crore.

Key Financial Metrics

The Board of Directors appointed M/s. Shrenik Nagaonkar & Associates as the Secretarial Auditor for a term of five consecutive years, subject to shareholder approval at the ensuing Annual General Meeting. The firm will conduct the secretarial audit for FY 2025-26 to 2029-30. The appointment follows Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Nenawati & Associates, Chartered Accountants, performed the limited review of the unaudited standalone financial results. The auditors confirmed that the results are prepared in accordance with the applicable Indian Accounting Standards (Ind AS) and that nothing came to their attention that would indicate a material misstatement. The company confirmed it has not made any defaults in the payment of outstanding loans and debt securities during the quarter.