Globale Tessile Limited adopted its audited financial statements for the fiscal year ended March 31, 2026, during its ninth Annual General Meeting (AGM) held on September 30, 2026. The meeting, conducted via video conferencing, also approved the re-appointment of Anand J. Parekh as a director.

The AGM commenced at 11:30 am and concluded at 11:48 am. Chairman Jeetmal Parekh presided over the virtual session. All directors, the statutory auditor, secretarial auditor, and the Chief Financial Officer attended the meeting. No shareholders spoke during the proceedings.

Key resolutions passed

Shareholders voted on three primary items of business through electronic means:

• Adoption of the audited financial statements for FY26, along with the reports of the Board and Auditors.
• Re-appointment of Anand J. Parekh (DIN: 00500384), who retired by rotation and offered himself for re-appointment.
• Appointment of a new Secretarial Auditor.

The voting process was overseen by Rohit Periwal, Proprietor of M/s. Rohit Periwal & Associates, who served as the scrutinizer. Remote e-voting facilities were available from September 27 to September 29, 2026.

Audit status and compliance

The company confirmed that both its statutory auditor, M/s. Jain Chowdhary & Co., and its secretarial auditor, M/s. Malay Desai & Associates, issued audit reports without any qualifications, reservations, adverse remarks, or disclaimers. Consequently, the reports were taken as read during the meeting.

The results of the e-voting were disseminated on the company’s website and the websites of BSE Limited, National Stock Exchange of India Limited, and the e-voting agency, MUFG Intime India Private Limited.

Globale Tessile Limited has scheduled its ninth Annual General Meeting (AGM) for Wednesday, September 23, 2026. The meeting will commence at 11:30 am and will be conducted through Two-Way Video Conferencing.

The company released its annual report for FY26 alongside the notice. Globale Tessile reported a net loss of ₹139.93 lakh for the financial year ended March 31, 2026, compared to a net loss of ₹76.92 lakh in the previous year. Total income declined sharply to ₹1,515.52 lakh from ₹4,965.66 lakh in FY25.

Financial Performance

The decline in performance was attributed to increased costs of raw materials, power, fuel, and logistics, as well as economic recession affecting demand. A major fire at the premises of Mahalaxmi Fabric Mills Limited (MFML), a third-party vendor responsible for manufacturing and processing job work services, caused extensive damage and temporary disruption to operations.

Key Financial Metrics

Revenue from operations stood at ₹1,444.24 lakh, down from ₹4,907.72 lakh in the prior year. Other income was ₹71.29 lakh, up from ₹57.94 lakh. The company did not recommend any dividend for FY26.

Corporate Governance Changes

Shri Anand Jeetmal Parekh retires by rotation at the upcoming AGM and offers himself for re-appointment. The Board also proposes the appointment of M/s. Rohit Periwal & Associates as Secretarial Auditors for a term of three years, from FY27 to FY29.

Key Managerial Personnel changes included the appointment of Shri Jitendra Kumar as Chief Financial Officer effective April 8, 2026, following the resignation of Shri Sumit Agarwal. Smt. Kinnari Gosaliya was appointed as Compliance Officer effective June 30, 2026.

What the Numbers Show

The widening net loss despite a significant drop in total income highlights margin pressure. While revenue fell by approximately 70%, operating expenses remained substantial due to fixed costs and job charges paid to associates, which totaled ₹262.96 lakh in FY26 compared to ₹1,112.19 lakh in FY25. The deferred tax asset increased to ₹63.24 lakh from ₹29.71 lakh, reflecting accumulated losses carried forward.

Meeting Details

Members holding shares in dematerialized mode will receive login details for e-voting on their registered email IDs. Physical shareholders may register an email ID by sending a signed request letter to MUFG Intime India Private Limited. The register of members will remain closed from September 24, 2026, to September 30, 2026.