Jagjanani Textiles appointed Hemang H Joshi as an Additional Director in the category of Executive Director, effective August 18, 2026. The Board of Directors approved the appointment during its meeting held on Tuesday, August 18, 2026. The appointment is subject to the approval of the Company's shareholders.

The Board Meeting commenced at 3:00 pm and concluded at 3:45 pm. Mr. Avnishkumar Manojkumar Patel, Managing Director, certified the true copy of the resolution.

Appointment Details

Mr. Hemang H Joshi (DIN: 07831487) joins the Board as an Executive Director. He is not related to the Promoters or the Promoter Group. Pursuant to BSE circular no. LIST/COMP/14/2018-19 dated June 20, 2018, he is not debarred from holding the office of a director pursuant to any order of SEBI or any other authority.

Professional Profile

Mr. Joshi holds a Diploma in Electronics & Telecommunication Engineering and possesses approximately 23 years of experience in Business Strategy, General Management, Marketing Management - Industrial, and Marketing Management - International. The Board considers him suitable for the appointment based on his experience, knowledge, and professional capabilities.

Regulatory Compliance

The Company disclosed the change in Board composition under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015. The disclosure was made in accordance with Schedule III - Para A (7 & 7C) of Part A of the Listing Regulations and SEBI Master Circular bearing Ref. No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Jagjanani Textiles reported a narrowed standalone net loss of ₹2.67 lakh for the quarter ended June 30, 2026, compared to a loss of ₹3.42 lakh in the corresponding period of FY25. The loss before tax stood at ₹2.21 lakh, an improvement from ₹2.70 lakh in Q1FY25.

The company recorded zero revenue from operations for the quarter. Total income remained at nil from operations, with other income not explicitly quantified in the primary statement but contributing to the final bottom line alongside deferred tax benefits.

Expense Breakdown

Total expenses fell 18% year-on-year to ₹2.21 lakh, down from ₹2.70 lakh in Q1FY25. This decrease was driven by a sharp drop in other expenses, which declined to ₹1.04 lakh from ₹1.59 lakh in the prior year quarter. Employee benefit expenses increased slightly to ₹1.14 lakh from ₹1.05 lakh year-on-year. Finance costs decreased marginally to ₹0.04 lakh from ₹0.06 lakh.

The net loss was further influenced by a deferred tax benefit of ₹0.46 lakh, compared to ₹0.72 lakh in the previous year quarter.

What the Numbers Show

The financial data reveals a complete absence of operational revenue generation during the quarter. With revenue from operations at zero, the company’s core business activities remained dormant. The reduction in net loss is primarily attributable to lower other expenses rather than any operational turnaround, as fixed costs such as employee benefits continued to accrue without offsetting sales.

Board Approval and Audit

The Board of Directors approved the unaudited standalone financial results on August 12, 2026. The results were prepared in accordance with Indian Accounting Standards (Ind AS) and reviewed by the statutory auditors, M/s Rajeshkumar P. Shah & Co. The audit committee also reviewed the results prior to board approval.

For the full fiscal year ended March 31, 2026, the company reported a net loss of ₹32.06 lakh, with total expenses of ₹33.09 lakh against nil revenue from operations.