Minaxi Textiles approves FY26 financials and director reappointments
- Minaxi Textiles approved FY26 audited financials at its 31st AGM
- Directors Dineshkumar P. Patel and Kiratkumar S. Patel reappointed
- Remuneration for Kiratkumar S. Patel approved despite potential losses
- Meeting held virtually on September 25, 2026
*this image is generated using AI for illustrative purposes only.
Minaxi Textiles Limited held its 31st Annual General Meeting on September 25, 2026, approving the audited financial statements for the fiscal year ended March 31, 2026. The meeting, conducted via video conferencing, also ratified the reappointment of key directors.
The proceedings commenced at 2:00 pm and concluded by 2:15 pm. Participation through video conference was counted towards the quorum in compliance with Ministry of Corporate Affairs circulars and the Companies Act, 2013. Kiratkumar S. Patel, Chairman and Whole Time Director, presided over the session.
Resolutions passed
Shareholders approved several ordinary and special business items as outlined in the meeting notice:
- Adoption of the audited financial statements for FY26 along with auditor and board reports.
- Reappointment of Dineshkumar P. Patel (Managing Director) retiring by rotation.
- Reappointment of Kiratkumar S. Patel (Chairman and Whole Time Director) retiring by rotation.
- Approval of remuneration payment to Kiratkumar S. Patel for the remaining two years of his tenure, even in cases of loss or inadequate profits.
Board participation
The following board members were present during the virtual meeting:
| Name | Designation |
|---|---|
| Kiratkumar S. Patel | Chairman & Whole Time Director |
| Dineshkumar P. Patel | Managing Director |
| Bharatbhai P. Patel | Director |
| Snehalkumar Patel | Independent Director |
| Chirag Shah | Independent Director |
| Ravibhai G. Patel | Independent Director |
| Sandip Madriya | Independent Director |
| Ghanchi Benjir Asgarali | Chief Financial Officer |
Voting results for the passed resolutions will be submitted to stock exchanges separately pursuant to SEBI (LODR) Regulations, 2015.
Historical Stock Returns for Minaxi Textiles
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| 0.0% | +22.73% | +2.27% | -10.00% | -28.57% | +21.62% |
How will the approval of remuneration during potential loss periods impact Minaxi Textiles' cash flow management in the upcoming fiscal year?
What strategic initiatives are expected from the reappointed leadership team to address current challenges in the textile sector?
How might the continued reliance on video conferencing for AGMs influence future shareholder engagement and governance transparency at the company?
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