Lorenzini Apparels shareholders approved all five resolutions at the 19th Annual General Meeting held on September 18, 2026. The special resolution to change the company's name to Monteil Limited passed with overwhelming support from both promoter and public shareholders.

The meeting, conducted via video conferencing, saw a total of 1,21,263,491 votes polled out of 1,72,736,551 shares held by 16,816 shareholders on the record date of September 11, 2026. This represents a 70.20% turnout.

Voting Results

Promoter and promoter group shareholders, holding 9,70,29,754 shares, cast 9,05,36,836 votes (93.31% participation). They voted in favour of all resolutions with 100% support. Public non-institutional shareholders, holding 7,57,06,797 shares, cast 3,07,26,655 votes (40.59% participation).

Corporate Actions

The board had previously reported a 16.85% decline in profit after tax for FY26, with net profit falling to ₹435.28 lakh from ₹583.64 lakh in FY25. The company skipped dividend recommendations for the year due to supply chain constraints linked to the Middle East crisis.

Shareholders also approved the re-appointment of director Supreet Kaur Rekhi and regularized the appointment of M/s. A D M S & Associates as statutory auditors for a five-year term until the 24th AGM in 2031, filling the vacancy left by M/s. Mittal & Associates.

What the Numbers Show

The near-unanimous support across all resolutions, particularly the 99.99% approval rate for the name change among public shareholders, indicates strong alignment between promoters and retail investors on the strategic rebranding initiative despite operational headwinds affecting profitability.

Lorenzini Apparels has confirmed the schedule for its 19th annual general meeting (AGM), set for Friday, September 18, 2026, at 4:00 pm. The meeting will be conducted through video conferencing or other audio-visual means in compliance with Ministry of Corporate Affairs and SEBI circulars.

Remote e-voting commenced on Tuesday, September 15, 2026, at 9:00 am and concludes 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 and chief financial officer, 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.