Mahalaxmi Fabric Mills has accepted the resignation of M/s. Malay Desai & Associates as its Secretarial Auditor, effective July 27, 2026. The firm cited pre-occupation with other assignments as the reason for stepping down from the role. This change requires the company to appoint a new secretarial auditor to ensure continued compliance with corporate governance norms and regulatory filing requirements.

The company notified the Bombay Stock Exchange and the National Stock Exchange of India Limited regarding the cessation of services on July 27, 2026. The intimation was filed pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure also referenced Part A of Schedule III to the said Regulations.

Further regulatory context was provided by citing specific SEBI Master Circulars. The filing aligns with circular no. SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023, and circular no. SEBI/HO/CFD/CFDPoD1/P/CIR/2023/123 dated July 13, 2023. These guidelines mandate timely disclosure of changes in key managerial personnel and auditors to ensure market transparency.

M/s. Malay Desai & Associates submitted a formal resignation letter to the Board of Directors on July 27, 2026. In their correspondence, the firm stated they were resigning due to pre-occupation with other assignments. They conveyed no objection to the appointment of any other secretarial auditor as a replacement. Malay Desai, the proprietor of the firm, signed the resignation letter.

Resignation Details

The company’s Company Secretary, Hilery Mashrani, digitally signed the exchange communication on July 27, 2026. The firm’s office is located at 1503, Westport, Nr. TAJ Sky line, Nr. S.P. Ring Road, Ahmedabad. Mahalaxmi Fabric Mills Limited is headquartered at Mahalaxmi House, YSL Avenue, Ambawadi, Ahmedabad.

Mahalaxmi Fabric Mills Limited returned to profitability in the fourth quarter of FY25, reporting a consolidated net profit of ₹722.96 lakh, aided by an exceptional insurance gain following a major fire incident at its factory. The company's Board of Directors approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2025, on May 29, 2025.

The financial performance was significantly impacted by a fire that broke out at the factory premises on November 24, 2024, causing extensive damage to assets and inventories. The company recognized an exceptional item of ₹1284.88 lakh during the quarter, representing the estimated insurance claim receivable over and above the book value of the damaged fixed assets. This gain was instrumental in offsetting operational losses and turning the bottom line positive.

On a consolidated basis, total revenue for Q4FY25 stood at ₹2715.63 lakh, a decrease from ₹4468.16 lakh in the corresponding quarter of the previous year. Total expenditure for the quarter was ₹2935.96 lakh. Before accounting for the exceptional item, the company reported a loss from operations of ₹220.33 lakh. For the full year FY25, consolidated revenue declined to ₹15518.98 lakh from ₹17036.76 lakh in FY24, while the net profit for the year reached ₹791.07 lakh compared to a net profit of ₹142.27 lakh in the prior year.

Standalone financial results for Q4FY25 showed a net profit of ₹656.76 lakh, compared to ₹137.79 lakh in the same period last year. Standalone revenue from operations for the quarter fell to ₹478.91 lakh from ₹2088.58 lakh in Q4FY24. The standalone figures also included the exceptional insurance gain of ₹1284.88 lakh, which helped the company report a profit for the period despite a decline in operational income. For the full fiscal year, the standalone net profit was ₹361.59 lakh, reversing the net loss of ₹191.83 lakh reported in FY24.

The company's subsidiary, Mahalaxmi Exports Private Limited, contributed to the consolidated results, reporting total assets of ₹4735.26 lakh and a net profit after tax of ₹429.48 lakh for the year ended March 31, 2025. M/s. Bhanwar Jain & Co., Chartered Accountants, the statutory auditors, issued an unmodified opinion on the audited financial results. The management expressed confidence that the final insurance claim would be settled in due course, with necessary adjustments to be made upon final determination by the insurer.

Consolidated Financial Results (₹ in Lakhs)

Standalone Financial Results (₹ in Lakhs)