Harikanta Overseas Limited concluded its eighth annual general meeting on September 21, 2026, with shareholders approving key administrative resolutions including the appointment of new statutory auditors.

The meeting, chaired by Managing Director Hardik Gotawala, was held at the company’s registered office in Surat. Eight members were present in person, satisfying the quorum requirement. The session also facilitated remote e-voting through the NSDL platform from September 17 to September 20, 2026, for shareholders holding shares as of September 14, 2026.

Key Resolutions Passed

Shareholders approved several ordinary resolutions during the proceedings:

• Adoption of the audited standalone and consolidated financial statements for FY26 (ended March 31, 2026).
• Reappointment of Abhishek Nileshekumar Gotawala as Whole Time Director, who was retiring by rotation.
• Appointment of M/s. Jain Shrimal & Co., Chartered Accountants (FRN: 001704C), to fill a casual vacancy as statutory auditor.
• Appointment of Jain Shrimal & Co. as statutory auditors for a period of five years, including the fixation of their remuneration.
• Approval for material related party transactions.

Board and Attendees

The following directors and key managerial personnel attended the meeting:

Mrudit Thakkar, the internal auditor, and Abhishek Jhawar, the practicing company secretary acting as scrutinizer for the e-voting process, were also present. The statutory auditor was granted leave of absence.

Meeting Proceedings

The chairman presented highlights of the company’s performance and addressed questions from members regarding operations and financial results. The voting results and the scrutinizer’s report will be submitted to the BSE within prescribed timelines and made available on the company’s website.

Harikanta Overseas has scheduled its 8th Annual General Meeting for Monday, September 21, 2026, at its registered office in Surat. The company intimated BSE Limited regarding the dispatch of AGM notices and annual reports to shareholders.

The board meeting that approved these resolutions took place on August 25, 2026. On August 27, 2026, the company dispatched electronic notices to members with registered email addresses. Letters with web-links were sent to those without registered emails, as signed by Hardik Gotawala, Managing Director, under Regulation 30 read with Regulation 36 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance

For the financial year ended March 31, 2026, Harikanta Overseas reported a 43% year-on-year rise in net profit after tax (PAT) to ₹645 lakh. Total income increased by 31% to ₹4,668 lakh, driven by a 31% rise in revenue from operations to ₹4,608 lakh.

Export sales contributed significantly, recording ₹1,929 lakh against ₹1,546 lakh in the previous year. The company exports Ikat and Dhupion fabrics to markets including Thailand, Bahrain, Singapore, and Cambodia.

What the Numbers Show

The company’s profitability expansion outpaced revenue growth. While total income rose by approximately 31%, net profit surged by 43%. This divergence suggests improved cost management or margin expansion during the period, as operating expenses did not scale proportionately with the higher turnover.

Meeting and E-Voting Details

The AGM will commence at 11:30 am at the company's registered office in Surat, Gujarat. The cut-off date for determining voting entitlement is Monday, September 14, 2026.

Remote e-voting via National Securities Depository Limited (NSDL) will be available from Thursday, September 17, 2026, at 9:00 am to Sunday, September 20, 2026, at 5:00 pm. Members who vote remotely will not be eligible to cast votes again at the physical meeting. Shareholders without registered email addresses were sent letters with web-links to access the annual report and AGM notice.

Auditor Appointment

M/s. A.H. Jain & Co. resigned as statutory auditors on August 20, 2026, creating a casual vacancy. The board appointed M/s. Jain Shrimal & Co., Chartered Accountants (FRN: 001704C), to fill this vacancy until the conclusion of the AGM.

Shareholders are asked to approve the appointment of Jain Shrimal & Co. for a full five-year term covering FY27 to FY31. The firm, established in 1981, is peer-reviewed under the ICAI framework and empanelled with the RBI and CAG.

Other Business Items

The agenda includes the re-appointment of Abhishek Nileshkumar Gotawala as Whole Time Director, who retires by rotation. He holds a 23.55% stake in the company and drew ₹18.024 lakhs in remuneration during FY26.

Additionally, shareholders will approve material related-party transactions involving leases with promoter-linked entities. These include:

• Shree Jalaram Enterprise (linked to Nilesh Gotawala): Lease of plot up to ₹55 lakhs.
• Abhishek Tex Fab (linked to Abhishek Gotawala): Lease of machinery up to ₹21 lakhs.
• Tripura Textiles (linked to Hardik Gotawala): Lease of machinery up to ₹21 lakhs.
• Mansi Enterprise (linked to Parul Nilesh Gotawala): Lease of plot up to ₹21 lakhs.

These transactions represent up to 1.19% of the listed entity's annual consolidated turnover. The board confirms these are at arm's length and in the ordinary course of business.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE1UYW01010/10b3f8d2-039b-42c0-a859-6389a2a8c225.pdf