HP Cotton Textile Mills shareholders approve director re-appointments at AGM
- Shareholders approved all five AGM resolutions with promoter support of 95.83%
- Raghavkumar Agarwal re-appointed as director retiring by rotation
- Vikram Sumatilal Sheth re-appointed as Independent Director for second term till April 2032
- Public non-institutional voter turnout remained minimal at 0.03%
- Auditors expressed unqualified opinions on FY26 financial statements
*this image is generated using AI for illustrative purposes only.
HP Cotton Textile Mills shareholders approved all five resolutions at its 45th Annual General Meeting held on September 18, 2026. The promoter group cast votes in favor representing 95.83% of their outstanding shares.
The meeting was conducted via Video Conferencing and Other Audio-Visual Means, deemed held at the registered office in Hisar, Haryana. Remote e-voting was open from September 15 to September 17, 2026. Scrutinizer Mukesh Siroya confirmed that all resolutions passed with the requisite majority.
Voting participation
A total of 2,667 shareholders were on record as of the cut-off date. Participation from the public non-institutional segment remained minimal, with only 437 votes polled against a holding of 13,76,696 shares (0.03% turnout). In contrast, the promoter group, holding 25,45,304 shares, polled 24,39,238 votes.
| Category | Shares Held | Votes Polled | Turnout % |
|---|---|---|---|
| Promoter and Promoter Group | 25,45,304 | 24,39,238 | 95.83 |
| Public - Institutions | 0 | 0 | 0.00 |
| Public - Non Institutions | 13,76,696 | 437 | 0.03 |
| Total | 39,22,000 | 24,39,675 | 62.20 |
Resolutions passed
Five resolutions were placed before members: three ordinary and two special businesses. All received overwhelming support, with only one vote cast against across all items.
| Resolution No. | Description | Type | Votes For | Votes Against |
|---|---|---|---|---|
| 1 | Adoption of audited standalone financial statements for FY26 | Ordinary | 24,39,674 | 1 |
| 2 | Adoption of audited consolidated financial statements for FY26 | Ordinary | 24,39,674 | 1 |
| 3 | Re-appointment of Raghavkumar Agarwal as director | Ordinary | 24,39,674 | 1 |
| 4 | Re-appointment of Vikram Sumatilal Sheth as Independent Director | Special | 24,39,674 | 1 |
| 5 | Approval of revised remuneration for Raghavkumar Agarwal | Special | 24,39,674 | 1 |
Director profiles and terms
The AGM specifically addressed the re-appointment of key board members. Mr. Raghavkumar Agarwal (DIN: 02836610), son of Chairman Kailash Kumar Agarwal, was re-appointed as a director retiring by rotation. He serves as Executive Director, CEO, and CFO, bringing over two decades of textile industry experience and a Bachelor's Degree in Management Science from Warwick Business School.
Mr. Vikram Sumatilal Sheth (DIN: 03349632) was re-appointed as an Independent Director for a second term of five consecutive years. His new term is effective from April 30, 2027, till April 29, 2032. Mr. Sheth holds a Bachelor's degree in Engineering from University of Mumbai and an MMS from NMIMS. He has over three decades of experience in financial services, having assisted corporates in raising funds exceeding USD 3 billion through equity and debt instruments during his tenures at ICICI Securities, Edelweiss, Religare, and NAFA Sustainable Finance Pvt Ltd.
Board and key attendees
The meeting was chaired by Kailash Kumar Agarwal, Chairman and Managing Director. The following directors, auditors, and officers were present:
| Name | Role |
|---|---|
| Kailash Kumar Agarwal | Chairman and Managing Director |
| Raghavkumar Agarwal | Whole-Time Director, CEO and CFO |
| Vikram Jhunjhunwala | Independent Director; Chairman of Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee |
| Ritu Bansal | Non-Executive Director |
| Vikram Sumatilal Sheth | Independent Director |
| Siddharth Agrawal | Independent Director |
| Shubham Jain | Company Secretary and Compliance Officer |
| Darshil Jhaveri | Statutory Auditor, M/s D. Kothary and Co., Chartered Accountants |
| Tarun Jain | Secretarial Auditor, M/s Tarun Jain and Associates, Company Secretaries |
| Mukesh Siroya | Scrutinizer, M/s M. Siroya and Co., Company Secretaries |
E-voting and procedural details
The company provided remote e-voting through Central Depository Services (India) Limited to all members holding shares as on the cut-off date of September 11, 2026. Remote e-voting was open from September 15, 2026 at 9:00 am to September 17, 2026 at 5:00 pm. An additional e-voting window was made available during the AGM for members who had not cast their votes earlier. Pursuant to Section 107 of the Companies Act, 2013, no voting by show of hands was conducted.
The Company Secretary informed members that the statutory registers and relevant documents referenced in the notice were available for inspection. The Chairman briefed members on salient operating results and significant developments for the financial year 2025-26, as well as the financial performance for the quarter ended June 2026. The Statutory Auditor M/s D. Kothary and Co. and Secretarial Auditor Tarun Jain expressed unqualified opinions in their respective audit reports for financial year 2025-26.
Speaker shareholders who had registered to raise queries were invited to participate, and the management addressed their clarifications. Members expressed satisfaction on the company's performance. The meeting concluded at 1:16 pm, including time allowed for e-voting at the AGM.
Historical Stock Returns for HP Cotton Textile Mills
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -3.28% | -7.12% | -12.62% | -15.09% | -11.76% | -1.15% |
How might the extremely low public shareholder turnout (0.03%) impact HP Cotton Textile Mills' future engagement strategies or minority shareholder rights?
What specific operational or financial changes are expected following the approval of revised remuneration for CEO Raghavkumar Agarwal?
How will the re-appointment of Vikram Sumatilal Sheth as Independent Director influence the company's approach to sustainable finance and capital raising in the next five years?
15
Access 50+ Readymade Screeners 
Use 200+ Custom Filters 
Get Full Market Insights 
