Lorenzini Apparels board of directors approved the annual report for FY26 and scheduled its 19th annual general meeting for September 18, 2026. The company reported a 15% rise in revenue from operations to ₹7,274.99 lakh, though net profit fell 25% to ₹435.28 lakh compared to the previous year.

Remote e-voting for the AGM commenced on Tuesday, September 15, 2026, at 9:00 am and will conclude on Thursday, September 17, 2026, at 5:00 pm. The cut-off date for shareholder eligibility is Friday, September 11, 2026. Shareholders can access the annual report and voting instructions via the company website or the RTA portal at Skyline RTA.

Financial Performance

The company’s financial results for the fiscal year ended March 31, 2026, reflect growth in top-line revenue but a contraction in bottom-line profitability.

Total income stood at ₹7,413.56 lakh against total expenses of ₹6,810.61 lakh. Other income declined significantly to ₹138.57 lakh from ₹342.26 lakh in the prior year, driven largely by a drop in profit on the sale of shares.

Key Approvals and Governance

The board executed several key agendas during the session to ensure regulatory compliance:

• Approval of the director's report and annual report for FY26
• Appointment of CS Anuj Gupta as scrutinizer for e-voting
• Submission of filings to BSE Limited and National Stock Exchange of India Limited

Sandeep Jain, managing director, signed the compliance letter. The company cited Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for these disclosures.

AGM Agenda: Name Change and Auditor Appointment

The 19th AGM notice includes special resolutions for significant corporate actions:

1. Name Change: Shareholders will vote to change the company name from "Lorenzini Apparels Limited" to "Monteil Limited" or "Monteil Lifestyle Limited," subject to ROC approval. This requires a special resolution.
2. Auditor Regularization: Regularization of the appointment of M/s A D M S & Associates as statutory auditors to fill a casual vacancy caused by the resignation of M/s Mittal & Associates.
3. New Auditor Term: Appointment of M/s A D M S & Associates for a five-year term until the conclusion of the 24th AGM in 2031.

What the Numbers Show

While revenue growth indicates expanding sales activity, the divergence between top-line growth and declining profitability highlights margin pressure. The sharp drop in other income, particularly gains from share sales, contributed significantly to the lower net profit despite higher operational revenue. This suggests that core operational margins may be stable, but overall profitability is currently sensitive to non-operating investment returns.

lorenzini apparels reported a significant turnaround in profitability for the quarter ended June 30, 2026, with net profit after tax (PAT) rising 125% year-on-year to ₹216.77 lakh. Revenue from operations surged 82% to ₹1,669.17 lakh, up from ₹919.08 lakh in the corresponding period of FY26. The Board of Directors approved the unaudited financial results on August 11, 2026, alongside the appointment of a new statutory auditor to replace the resigning firm.

The profit jump was primarily fueled by robust top-line growth and improved operational efficiency. While total income increased to ₹1,874.23 lakh from ₹1,134.03 lakh in Q1FY26, total expenses rose more moderately to ₹1,574.41 lakh from ₹934.18 lakh. This divergence widened the profit before tax margin significantly. The company’s basic earnings per share (EPS) also doubled to ₹0.13 from ₹0.06 in the previous year’s quarter.

Financial Performance Highlights

Auditor Resignation and Appointment

In a separate development, the Board accepted the resignation of M/s Mittal & Associates (FRN: 106456W) as statutory auditors. The firm cited preoccupation with other assignments as the reason for stepping down effective August 11, 2026. Mittal & Associates had issued a limited review report with an unmodified opinion on the Q1FY27 results prior to their resignation.

To fill the casual vacancy, the Audit Committee recommended the appointment of M/s A D M S & Associates (FRN: 123456W) as the new statutory auditors. This appointment is subject to shareholder approval and is effective from August 11, 2026. M/s A D M S & Associates confirmed their eligibility under Section 139 of the Companies Act, 2013, stating no disqualifications or pending proceedings against the firm.

What the Numbers Show

The financial data reveals a strong operating leverage in Q1FY27. While revenue nearly doubled compared to the prior year quarter, cost of materials consumed remained relatively contained at ₹50.89 lakh versus ₹21.21 lakh in Q1FY26, indicating efficient inventory management or favorable input costs. Furthermore, other income remained stable at ₹205.06 lakh, contributing consistently to the bottom line despite the surge in core operations. The combination of high revenue growth and stable other income drove the substantial expansion in net margins.