Golden Carpets Ltd has appointed Mrs. Meena Bhushan Kerur as Managing Director for a period of five years, effective August 20, 2026. The board of directors approved the change in designation during its meeting held on the same date, subject to shareholder approval at the ensuing general meeting. This appointment follows the recommendation of the Nomination and Remuneration Committee. The filing under Regulation 30 of the SEBI Listing Regulations confirms that Mrs. Kerur is not liable to retire by rotation.

Simultaneously, Mr. Srikrishna Naik’s designation was changed from Managing Director to Director (Non-Executive & Non-Independent). He remains liable to retire by rotation. These changes reflect a shift in executive leadership within the company’s promoter family. Mr. Naik is not debarred from holding the office of Director by virtue of any SEBI Order or any other such Authority.

Leadership Changes

The appointment of Mrs. Kerur, who brings 18 years of experience in business management, administration, and marketing, marks a significant transition in the company’s top management. She is the sister of Mr. Srikrishna Naik and the mother of Mr. Rohan Bhushan Kerur, another non-executive director.

Mr. Naik, a graduate with extensive experience in business management, administration, and marketing, will continue to serve on the board but without executive responsibilities. The board noted that neither director is debarred from holding office by any SEBI order or other authority.

Committee Reconstitution

The board reconstituted three key committees to align with the new leadership structure:

• Audit Committee: Mr. Rohan Bhushan Kerur was inducted as a member in place of Mrs. Meena Bhushan Kerur. Mr. Maqsood Ahmed continues as Chairperson, with Mr. Suryanarayana Murthy Krovi as a member.
• Nomination & Remuneration Committee: Similarly, Mr. Rohan Bhushan Kerur replaced Mrs. Meena Bhushan Kerur as a member. Mr. Maqsood Ahmed remains Chairperson, and Mr. Suryanarayana Murthy Krovi serves as a member.
• Stakeholders Relationship Committee: Mr. Rohan Bhushan Kerur was appointed as Chairperson, replacing Mrs. Meena Bhushan Kerur. Mrs. Kerur now serves as a Member of this committee, alongside Mr. Suryanarayana Murthy Krovi.

AGM Details

The board approved convening the 32nd Annual General Meeting (AGM) on Wednesday, September 23, 2026. The notice, directors’ report, and management discussion and analysis report will be circulated to members in due course and made available on the company’s website.

Mrs. Rashida Hatim Adenwala, a practicing company secretary and founder partner at R & A Associates, Hyderabad, was appointed as the scrutinizer for the voting process at the AGM to ensure fairness and transparency.

Golden Carpets Ltd reported a net loss of ₹7.31 lakh for the first quarter of FY27 (Q1FY27), marking a significant deterioration from the net profit of ₹1.94 lakh recorded in Q1FY26. The company’s revenue from operations contracted by 53.6% year-on-year to ₹12.05 lakh, down from ₹25.95 lakh in the corresponding period. This decline highlights weakening operational momentum for the carpet manufacturer, with total expenses exceeding revenue by ₹7.31 lakh.

The Board of Directors approved the unaudited financial results at a meeting held on August 7, 2026, in Hyderabad. The results were reviewed by M/s. Sathuluri & Co., Chartered Accountants, the statutory auditor of the company, who issued a limited review report pursuant to Regulation 33 of the SEBI Listing Regulations. The financial statements were prepared in accordance with Indian Accounting Standard 34 (Ind AS 34) on Interim Financial Reporting.

Financial Performance Overview

Revenue from operations dropped sharply to ₹12.05 lakh in Q1FY27, compared to ₹25.95 lakh in Q1FY26 and ₹15.06 lakh in the preceding quarter (Q4FY26). Total revenue remained flat at ₹12.05 lakh as other income stood at zero, consistent with recent quarters but down from ₹1.28 lakh in the full year ended March 2026.

Cost of materials consumed decreased to ₹5.42 lakh from ₹7.89 lakh in Q1FY26, reflecting lower production volumes aligned with reduced revenue. However, this saving was offset by a rise in other expenses, which climbed to ₹6.91 lakh from ₹8.83 lakh in Q1FY26 but remained elevated relative to the current revenue base. Employee benefit expenses also increased slightly to ₹5.33 lakh from ₹4.59 lakh year-on-year. Depreciation and amortization expenses were recorded at ₹3.19 lakh, consistent with the previous quarter.

What the Numbers Show

The widening net loss despite a reduction in material costs indicates a structural pressure on margins due to fixed cost burdens. While variable costs like materials scaled down with revenue, fixed components such as employee benefits and depreciation remained sticky, eroding profitability. The absence of other income further limited the ability to offset operating losses. With total comprehensive income mirroring the net loss at ₹7.31 lakh, shareholders face continued dilution in book value until operational efficiency improves or revenue volumes recover.