Kajal Synthetics & Silk Mills board of directors approved the annual financial statements for the fiscal year ended March 31, 2026, during a meeting held on September 1, 2026. The company also approved the notice for its 38th Annual General Meeting (AGM).

The board meeting took place at the company’s registered office in Mumbai. Key resolutions included the approval of the Directors’ Report on the financial statements and the scheduling of the AGM.

AGM Details and Voting Schedule

The 38th AGM is scheduled to be held on Saturday, September 26, 2026, at 3:30 pm at the registered office located at 29, Bank Street, First Floor, Fort, Mumbai.

To determine eligibility for voting, the Register of Members will remain closed from Sunday, September 20, 2026, to Saturday, September 26, 2026, both days inclusive. The cut-off date for the AGM is set as September 18, 2026.

E-voting procedures have been outlined as follows:

• E-voting commences on Wednesday, September 23, 2026, at 9:00 am.
• Voting concludes on Friday, September 25, 2026, at 5:00 pm.

M/s Girish Murarka & Co., practicing Company Secretary, has been appointed to oversee the voting results for the 38th Annual General Meeting.

Kajal Synthetics & Silk Mills reported a widening net loss for the first quarter of FY26, reflecting increased financial expenses against negligible operational income. The Mumbai-based finance and investment firm posted a standalone net loss of ₹63.30 lakh for the quarter ended June 30, 2026, compared to a loss of ₹56.68 lakh in the same period last year. Consolidated results showed a similar trajectory, with a net loss of ₹63.50 lakh, up from ₹56.85 lakh YoY.

The primary driver of the deterioration was a rise in finance costs, which climbed to ₹55.48 lakh from ₹49.18 lakh in Q1FY25. Employee benefits expense also ticked up marginally to ₹5.67 lakh from ₹5.33 lakh. Total income for the standalone entity remained minimal at ₹0.19 lakh, derived entirely from other income, as revenue from operations, interest income, and dividend income stood at zero.

Financial Performance Overview

The company’s earnings per share (EPS) declined to (₹3.18) for the quarter, down from (₹2.85) in the previous year’s corresponding period. Consolidated basic EPS fell to (₹3.19) from (₹2.85) YoY. For the full year ended March 31, 2026, the company reported an audited standalone net loss of ₹240.01 lakh.

What the Numbers Show

A significant divergence exists between the company’s operating performance and its comprehensive income. While the standalone net loss widened by approximately 12% YoY, total comprehensive income turned positive at ₹109.72 lakh, compared to ₹62.37 lakh in Q1FY25. This reversal was driven almost entirely by a gain of ₹173.02 lakh on fair value measurement of investments under other comprehensive income (OCI). This indicates that while core operations continue to incur losses driven by financing costs, the valuation of held investments provided a substantial buffer to overall equity value during the quarter.

Auditor Review and Associates

SSRCA & Co., the statutory auditors, issued a limited review report on the unaudited financial results. The consolidated results include two associate companies: Five Star Trading & Investment Company Limited and Park Avenue Engineering Limited.

The auditor noted that one associate incurred significant losses, causing accumulated losses to exceed the purchase cost of the investment. Consequently, the company discontinued recognizing its share of further losses in the consolidated results, reducing the carrying amount of that investment to zero in accordance with Ind AS 28. The share of net loss from associates in the consolidated statement was recorded at ₹0.20 lakh for the quarter.