Lakshmi Mills has issued the notice for its 116th Annual General Meeting (AGM), scheduled for September 25, 2026. The Coimbatore-based textile firm also reminded shareholders to update their KYC details and register email addresses to facilitate electronic communication and dividend payments.

The company confirmed that the AGM will be held via Video Conference or Other Audio Visual Means at 12:05 pm. Physical attendance is not permitted, with the deemed venue remaining the registered office in Coimbatore.

Dividend and Governance

The Board of Directors recommended a final dividend of 10% (₹10 per equity share of face value ₹100 each) for the financial year ended March 31, 2026. Shareholders on record as of September 18, 2026, will be eligible for the payout.

The agenda includes the reappointment of Sri R. Santharam as a Non-Executive Non-Independent Director. He retires by rotation and offers himself for reappointment. Santharam has served on the board since March 27, 2002.

Special Business: Cost Auditor Appointment

Shareholders will ratify the appointment of A. R. Ramasubramania Raja & Co., Cost Accountants, as the cost auditor for the financial year 2026-27. The Board approved a remuneration of ₹1,50,000 per annum, exclusive of taxes and out-of-pocket expenses.

The statutory auditors, M/s. Subbuchar & Srinivasan, Chartered Accountants, were appointed for a five-year term ending with the 117th AGM in 2027. Consequently, no resolution for their reappointment is proposed at this meeting.

Voting and Participation

Remote e-voting will be available from September 22, 2026, at 9:00 am until September 24, 2026, at 5:00 pm. The facility is provided through National Securities Depository Limited (NSDL). Members holding shares in demat or physical form can vote electronically.

The register of members and share transfer books will remain closed from September 19, 2026, to September 25, 2026. Proxy appointments are not available for this virtual meeting.

KYC and Communication Updates

In compliance with Regulation 36(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has sent letters containing web-links to the Annual Report 2025-2026 to members who have not registered their email addresses with the company or depositories.

The company reminded security holders holding physical securities to update their KYC details pursuant to SEBI Master Circular No. SEBI/HO/MIRSD/POD-1/P/CIR/2024/37 dated May 7, 2024. This includes recording PAN, address with PIN code, mobile number, bank account details, specimen signature, and choice of nomination.

Shareholders are advised that those holding physical folios without updated PAN, nomination, contact details, bank account details, or specimen signatures will be eligible for payments, including dividends, only through electronic mode effective April 1, 2024. While updating email IDs is optional, the company encourages registration to avail online services.

The Lakshmi Mills Company Limited reported a net profit of ₹311.1 lakh for the quarter ended June 30, 2026, marking a sharp turnaround from the net loss of ₹2,203.0 lakh posted during the same period last year. The company’s revenue from operations rose 8.4% year-on-year to ₹5,971.9 lakh, up from ₹5,507.0 lakh in Q1FY26. This improvement reflects a broader operational recovery, with earnings per share (EPS) turning positive at ₹44.72 compared to a loss of ₹316.72 per share in the prior year.

Financial Performance

Total income for the quarter stood at ₹6,015.0 lakh, while total expenses were contained at ₹5,603.4 lakh. Profit before tax amounted to ₹411.6 lakh, significantly higher than the pre-tax loss of ₹100.3 lakh recorded in Q1FY26. Tax expenses for the current quarter were ₹100.5 lakh, comprising current tax of ₹71.7 lakh and deferred tax of ₹28.8 lakh. In contrast, the previous year’s period saw a massive tax expense of ₹2,102.7 lakh, largely driven by deferred tax provisions.

Segment Analysis

The company operates through two primary segments: Textiles and Rental Services. The Textiles segment, which involves manufacturing and sale of yarn and trading in fabrics, generated revenue of ₹5,313.3 lakh, up from ₹4,909.0 lakh in the previous year. More critically, the segment swung to a profit before interest and tax (PBIT) of ₹141.7 lakh, recovering from a PBIT loss of ₹191.8 lakh in Q1FY26.

Rental Services contributed ₹686.3 lakh in revenue, an increase from ₹619.9 lakh year-ago. The segment delivered a robust PBIT of ₹553.6 lakh, up from ₹466.0 lakh in the prior period, highlighting its role as a stable cash flow generator for the group.

What the Numbers Show

A key divergence exists between the operational profitability and the tax burden in the comparative periods. While the pre-tax position improved by over ₹500 lakh year-on-year, the total tax expense dropped sharply from ₹2,102.7 lakh in Q1FY26 to just ₹100.5 lakh in Q1FY27. This suggests that the prior year’s significant loss was heavily influenced by deferred tax accounting adjustments rather than purely operational deficits, as the current quarter’s lower tax outflow aligns more closely with the modest pre-tax profits generated.

Balance Sheet and Other Metrics

Finance costs decreased to ₹213.9 lakh from ₹322.5 lakh in the previous year, indicating reduced interest burdens or lower debt levels. Depreciation and amortization expenses also fell to ₹272.2 lakh from ₹332.4 lakh. Total comprehensive income for the quarter was ₹16,158.2 lakh, driven primarily by other comprehensive income items that will not be reclassified to profit or loss, which stood at ₹18,489.8 lakh after tax effects.

The unaudited financial results were reviewed by the Audit Committee and approved by the Board of Directors on August 14, 2026. Statutory auditors Subbachar & Srinivasan Chartered Accountants issued an unmodified review report on the standalone financial results.