GTN Industries has scheduled its 64th Annual General Meeting (AGM) for Monday, September 28, 2026. The meeting will commence at 10:30 am at the company's registered office in Chitkul Village, Patancheru Mandal, Sangareddy District, Telangana.

Shareholders holding shares as of the record date, August 21, 2026, are eligible to attend and vote. The company has enabled remote e-voting through the National Securities Depository Limited (NSDL) platform. Remote voting begins on Tuesday, September 25, 2026, at 9:00 am and closes on Thursday, September 27, 2026, at 5:00 pm.

Meeting Details

The AGM aims to transact business outlined in the notice sent alongside the Annual Report for the financial year ended March 31, 2026. Members whose email IDs are registered with the company or their Depository Participants received the notice and annual report in electronic form. The documents are also available on the company's website.

Members holding shares in physical or dematerialized form may appoint a proxy to attend and vote on their behalf. The proxy need not be a member of the company.

E-Voting Process

Mrs. Ansu Thomas, Partner at M/s. DVM & Associates, LLP, has been appointed as the Scrutinizer to oversee the e-voting process. She will ensure the voting is conducted in a fair and transparent manner.

Key dates for shareholder participation include:

• Record date: August 21, 2026
• Remote e-voting start: September 25, 2026, at 9:00 am
• Remote e-voting end: September 27, 2026, at 5:00 pm
• AGM date: September 28, 2026, at 10:30 am

Members who acquire shares after the dispatch of the AGM notice but hold shares on the record date can obtain login credentials by contacting evoting@nsdl.com . Existing NSDL users may use their current credentials.

GTN Industries reported a net loss of ₹107.2 crore for the financial year ended March 31, 2026, widening significantly from the ₹46.4 crore loss recorded in the previous year. Revenue from operations fell 7% year-on-year to ₹1,605.6 crore, reflecting subdued demand and lower price realizations in the cotton yarn market.

The company’s Board of Directors has not recommended any dividend for FY26 due to the operating loss. Instead, management is focusing on unlocking value through strategic restructuring, including the proposed sale of its Nagpur spinning unit.

Financial Performance

The textile manufacturer faced margin pressure as revenue declined while certain cost components remained sticky. Total comprehensive loss after tax stood at ₹107.3 crore.

Operating profit turned negative at (₹50) million, compared to an operating profit of ₹25.7 million in FY25. This shift was driven by a decline in revenue alongside stable or rising expenditure categories such as power and fuel costs, which rose to ₹165.0 million from ₹157.2 million.

Strategic Restructuring

In a move to optimize resource deployment, the Board seeks shareholder approval to sell its Nagpur Unit to related party GTN Engineering (India) Limited for a lump-sum consideration of ₹71 crore. The transaction, structured as a slump sale on an "as is where is" basis, aims to fund future business requirements and general corporate purposes.

Additionally, shareholders will vote on authorizing the Board to make investments, grants loans, and provide guarantees up to an aggregate limit of ₹400 crore under Section 186 of the Companies Act, 2013. The company also seeks approval for material related-party transactions with GTN Engineering valued up to ₹300 crore over the next 12 months.

What the Numbers Show

The divergence between revenue decline and cost stability highlights the operational leverage working against GTN Industries during periods of low volume. While revenue dropped by approximately ₹120 million, total expenditure decreased by only ₹25 million, primarily because fixed costs like depreciation (₹40.7 million) and staff costs (₹180.5 million) did not fall proportionally with sales. This structural rigidity exacerbated the operating loss, demonstrating the sensitivity of the spinning business model to demand shocks in the global cotton market.