Gujarat Cotex board of directors approved the appointment of M/s. Haresh Karvat & Co., Chartered Accountants, as its internal auditor during a meeting held on September 1, 2026.

The firm will serve a five-year term covering the fiscal years 2026-27 to 2030-31. The appointment follows a recommendation from the company's audit committee.

Appointment Details

M/s. Haresh Karvat & Co. brings over two decades of experience in accounts, auditing, taxation, and consultancy to the role. The board confirmed there are no related-party relationships requiring disclosure in connection with this engagement.

Shailesh J Parekh, Managing Director of Gujarat Cotex, signed the intimation letter submitted to BSE Limited.

Gujarat Cotex Board of Directors met on September 1, 2026, approving the establishment of three new business divisions and fixing the Annual General Meeting (AGM) for September 28, 2026.

The company confirmed it is in the process of identifying a location for its Mumbai office to support expanded operations. The board also finalized the book closure period and e-voting timeline for the upcoming AGM.

Strategic Expansion

The board formally approved the proposal to establish three distinct business units:

• Prabhat Oils: Focused on edible oil activities.
• Prabhat Infratech: Handling existing and future real estate activities.
• Prabhat Hospitality: Managing existing and future hotel and related projects.

This move diversifies the company’s operations beyond its traditional core into infrastructure and hospitality sectors.

Governance and Appointments

The board approved several key governance matters for the fiscal year ended March 31, 2026:

Ms. Parul Rajesh Manubarwala brings approximately 25 years of experience in finance and taxation. Her appointment as an additional director is effective immediately, with regularization subject to member approval at the AGM.

Ms. Vidya Pramod Patil, who has around 25 years of experience in business strategy, is being reappointed for another five-year term as her current term expires at the ensuing AGM.

Secretarial Auditor Profile

Based on the recommendation of the Audit Committee, the board appointed M/s. K. Dalal & Co., Practicing Company Secretaries, as secretarial auditor with effect from Monday, September 28, 2026, for a period of five consecutive years from 2026-27 to 2030-31. This appointment is subject to shareholder approval at the ensuing AGM.

Mr. Kunjal Dalal, Proprietor of M/s. K. Dalal & Co., Surat, serves as the existing Secretarial Auditor. He holds FCS No. 3530, CP No. 3863, and Peer Review Certificate no. 8134/2026. Mr. Dalal possesses more than three decades of experience in Company Law, LLP Act, Securities Laws, Legal Due Diligence, Mergers and Acquisitions, Listings, and Capital Market Regulations.

AGM Details

The Annual General Meeting is scheduled for Monday, September 28, 2026, at 9:30 am. The venue is Hotel Soubhagya Inn, Plot No. 116/3/1, Silvassa – Vapi Main Road, Amla, Silvassa 396230.

Mr. Kunjal Dalal was appointed as the scrutinizer for the voting process at the AGM.