Maris Spinners has appointed B M Shanmuga Priya as its Company Secretary cum Compliance Officer, effective September 1, 2026. The Board of Directors approved the appointment on August 7, 2026, following a recommendation from the Nomination and Remuneration Committee. This leadership change ensures continuity in regulatory compliance and corporate governance as the outgoing Company Secretary, N Sridharan, steps down due to health reasons.

The appointment was made pursuant to Section 203 of the Companies Act, 2013, and Regulation 6(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Maris Spinners disclosed the change under Regulation 30 read with Schedule III – Para A (7C) of Part A of the SEBI LODR Regulations, along with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The intimation was submitted to the Bombay Stock Exchange on August 7, 2026.

N Sridharan, the existing Company Secretary, tendered his resignation citing health reasons and will be relieved from his duties on August 31, 2026. The transition period ensures no gap in compliance oversight for the textile manufacturer, which operates mills in Mysore and Trichy districts.

B M Shanmuga Priya, who holds Membership No. ACS 53050 with the Institute of Company Secretaries of India, brings more than 10 years of professional experience to the role. Her background includes six years of experience as a Practising Company Secretary (PCS) and an LLB qualification. Until recently, she was practising independently. Management stated that her expertise will benefit the company’s governance framework.

Key Appointment Details

Governance Implications

The appointment of a seasoned professional with both legal (LLB) and secretarial expertise strengthens Maris Spinners’ compliance infrastructure. With six years of prior public company secretarial experience, Priya is well-positioned to manage the regulatory requirements listed on the BSE. The seamless handover between August 31 and September 1 indicates planned continuity in statutory filings and board support functions.

Maris Spinners reported a standalone net profit of ₹3.63 crore for the quarter ended June 30, 2026 (Q1FY27), reversing a net loss of ₹45.34 lakh recorded in the corresponding quarter of the previous financial year. The profit turnaround was supported by a 26.14% year-on-year increase in revenue from operations, which rose to ₹48.05 crore from ₹38.10 crore in Q1FY26. This performance signals an improvement in the company’s operational efficiency within its single segment of manufacturing and selling cotton-related products.

The Board of Directors approved the unaudited financial results and the accompanying cash flow statement during a meeting held on August 7, 2026. In addition to the financial outcomes, the Board approved the resignation of Mr. N Sridharan, Company Secretary and Compliance Officer, effective August 31, 2026. Ms. Shanmuga Priya was appointed as the new Company Secretary cum Compliance Officer with effect from September 1, 2026.

Financial Performance Highlights

Revenue from operations stood at ₹4,805.41 lakh in Q1FY27, compared to ₹4,591.43 lakh in the preceding quarter and ₹3,809.52 lakh in Q1FY26. Other income increased marginally to ₹161.66 lakh from ₹135.43 lakh in the previous quarter but remained lower than the ₹187.32 lakh recorded in Q1FY26.

Total expenditure decreased to ₹4,454.38 lakh in Q1FY27 from ₹4,689.17 lakh in Q4FY26. Cost of materials consumed was ₹2,879.07 lakh, down from ₹3,010.47 lakh in the previous quarter. Employee benefits expense rose to ₹381.75 lakh from ₹334.79 lakh, while finance costs remained stable at ₹208.74 lakh. Depreciation and amortisation expense increased slightly to ₹150.24 lakh.

What the Numbers Show

The most significant driver of the quarterly profitability was the expansion in operating margins despite a slight increase in employee costs. Profit before tax surged to ₹512.69 lakh from ₹37.69 lakh in the preceding quarter and compared favorably against the loss of ₹63.96 lakh in Q1FY26. Deferred tax expense accounted for ₹149.32 lakh of the total tax provision, contrasting with a deferred tax savings of ₹18.62 lakh in the same quarter last year. Earnings per share (basic) stood at ₹4.59, a sharp recovery from the loss of ₹0.57 per share in Q1FY26.

The financial results were reviewed by the Audit Committee and approved by the Board on August 7, 2026. The statement has been reviewed by the Statutory Auditors, M/s. Raghavan, Chaudhuri & Narayanan, Chartered Accountants, Bengaluru, who issued a limited review report with an unmodified opinion pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.