Manomay Tex schedules 17th AGM on September 29 in Bhilwara
- Manomay Tex India has convened its 17th AGM on September 29, 2026, at 1:00 pm at its Bhilwara registered office
- The board approved capacity expansion of 10 million metres/year in the denim division and ~1,080 MT/year in the spinning division
- Mr. Maheshchandra Kailashchandra Laddha's re-appointment as Whole-time Director from August 9, 2027, at ₹3,00,000 per month is up for shareholder approval
- Three new independent directors appointed effective September 2, 2026, require shareholder ratification for five-year terms
- Material RPTs with 22 related parties, each capped at ₹500 crore for FY2026-27, are also on the AGM agenda
*this image is generated using AI for illustrative purposes only.
Manomay Tex India Ltd has convened its 17th Annual General Meeting for September 29, 2026, at 1:00 pm at its registered office in Bhilwara, Rajasthan, to transact ordinary and special business including capacity expansion approvals and director appointments.
The formal AGM notice was filed with BSE Limited and the National Stock Exchange of India Limited on September 5, 2026, signed by Managing Director Yogesh Laddha. The register of members and share transfer books will remain closed from September 23, 2026, to September 29, 2026. The cut-off date for remote e-voting eligibility is September 22, 2026, with the remote e-voting window open from September 26, 2026, at 9:00 am to September 28, 2026, at 5:00 pm, facilitated through NSDL.
Capacity expansion plans
The board, at its meeting on August 31, 2026, approved a major expansion across two manufacturing divisions. The denim division will add an RFD line for bottom weight fabrics and chinos, increasing fabric manufacturing capacity by 10 million metres per year. The spinning division will add new spindles for coarse-count yarn, adding approximately 1,080 MT of yarn production annually.
| Division | Expansion detail | Capacity addition |
|---|---|---|
| Denim (fabric) | RFD line for bottom weight fabrics and chinos | 10 million metres/year |
| Spinning (yarn) | New spindles for coarse-count yarn | ~1,080 MT/year |
AGM agenda: ordinary and special business
The meeting will consider adoption of the audited financial statements and the Director's Report for the financial year ended March 31, 2026. Members will also vote on the re-appointment of Mrs. Pallavi Laddha, who retires by rotation and is eligible for re-appointment.
Special business items include ratification of the remuneration of M/s Avnesh Jain & Co., Cost Accountants (Firm Reg. No. 101048), appointed to conduct the cost audit for the financial year ending March 31, 2027, at a remuneration of ₹15,000 plus GST and reimbursement of out-of-pocket expenses.
Members will also vote on the re-appointment of Mr. Maheshchandra Kailashchandra Laddha as Whole-time Director for a three-year term from August 9, 2027, to August 8, 2030, at a salary of ₹3,00,000 per month in the scale of ₹3,00,000–₹4,00,000–₹5,00,000, along with perquisites as specified under Schedule V of the Companies Act, 2013.
Director appointments seeking shareholder approval
Three additional independent directors appointed by the board effective September 2, 2026, are being placed before shareholders for formal approval for a five-year term each:
| Director | Qualification | Background |
|---|---|---|
| Mr. Manishkumar Balkrishna Porwal | Chartered Accountant | 25 years of experience in the textile industry |
| Mr. Satya Narayan Maheshwari | M.Com, CAIIB | 41 years of service at State Bank of India |
| Mr. Mahendra Singh Rana | B.A., LLB | 20 years of service at SBI General Insurance |
Committee reconstitution
Effective September 2, 2026, the board reconstituted several statutory committees:
- Nomination and Remuneration Committee: Mr. Anil Kumar Kabra appointed as Chairman.
- Audit Committee: Mr. Anil Kumar Kabra as Chairman; Mr. Maheshchandra Kailashchandra Laddha added as member.
- Stakeholder Relationship Committee: Mr. Satya Narayan Maheshwari appointed as Chairman.
- Corporate Social Responsibility Committee: Mrs. Pallavi Laddha, Mr. Anil Kumar Kabra, and Mr. Mahendra Singh Rana inducted as members.
- Internal Complaint Committee: Mr. Mukesh Chandra Sharma inducted as a member.
Material related-party transactions
Shareholder approval is also sought for material related-party transactions (RPTs) for the financial year 2026-27, covering transactions with 22 related parties including group entities, KMPs, and their relatives. Each transaction is subject to a maximum aggregate value of ₹500 crore for the period April 1, 2026, to March 31, 2027. All transactions are stated to be in the ordinary course of business and at arm's length. Key related parties include Ashish International, Kamlesh Synthetics, Palak Garments, Prachi Creation, Seema Synthetics, Charbhuja Impex, Shree Synthetics, Fornax Fashion Private Limited, Druhinah Agro Private Limited, and Everstrong Marketing Private Limited, among others.
The scrutinizer for the e-voting process is Mr. R.K. Jain, Practicing Company Secretary, proprietor of M/s R. K. Jain & Associates. Results are to be announced on or before 5:00 pm on October 1, 2026, at the registered office and communicated to the stock exchanges.
Historical Stock Returns for Manomay Tex
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.24% | +6.95% | +6.26% | +1.92% | +41.22% | +89.71% |
How will the addition of 10 million metres of denim and 1,080 MT of yarn capacity impact Manomay Tex's market share in the bottom-weight fabric segment by FY2028?
What is the projected timeline for achieving full operational efficiency from the new RFD line and spindles, and how might this affect near-term EBITDA margins?
Given the approval of related-party transactions up to ₹500 crore, what specific measures will management implement to ensure continued arm's length pricing and transparency with auditors?
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