Mohit Industries will convene its 36th Annual General Meeting on September 30, 2026. The primary focus for shareholders is the ratification of material related-party transactions involving significant unsecured borrowings from promoters.

The company is seeking omnibus approval to enter into borrowing arrangements with four promoters: Narayan Sitaram Saboo, Manish Narayan Saboo, Mohit Narayan Saboo, and Naresh Sitaram Saboo. Each transaction is capped at ₹1,500 lakh, bringing the total proposed exposure to ₹6,000 lakh. These funds are designated for meeting operational cash flows and business exigencies during FY27.

Key Meeting Details

The meeting will be conducted through Video Conferencing or Other Audio Visual Means. Shareholders must ensure their holdings are registered as of the cut-off date to exercise voting rights.

Related Party Transaction Structure

The proposed loans are unsecured and repayable on demand. The notice specifies that these transactions are considered material because they exceed the threshold of 10% of the annual consolidated turnover of the preceding financial year. The value of the proposed transactions represents 10.72% of the listed entity's annual consolidated turnover for FY26.

Historical data reveals varying levels of reliance on promoter funding over the last three years:

Narayan Sitaram Saboo remains the largest source of historical promoter credit, though the volume declined significantly in FY26 compared to FY25. Mohit Narayan Saboo emerged as a new lender in FY26, while Naresh Sitaram Saboo has no prior transaction history with the entity in the disclosed period.

Other Agenda Items

Shareholders will also vote on the reappointment of Mr. Naresh Sitaram Saboo as a Non-Executive Director. He retires by rotation and is eligible for reappointment. Mr. Saboo holds 2,68,445 equity shares in the company and does not draw a remuneration from the board.

Additionally, the meeting will approve the remuneration of M/s. Nainesh Kantliwala & Co. as Cost Auditors for FY27. The approved fee is ₹50,000 plus applicable taxes and out-of-pocket expenses.

What the Numbers Show

The debt-to-equity ratio is projected to improve slightly following these transactions. Based on the last audited financial statements, the ratio stands at 2.55 before the transaction and is expected to decrease to 2.37 after. However, the Debt Service Coverage Ratio remains unchanged at 0.68, indicating that the additional liquidity from promoter loans is intended for operational flexibility rather than immediate debt servicing capacity enhancement.

Mohit Industries has updated the contact details of its Key Managerial Personnel (KMP) authorised for determining materiality and making disclosures to stock exchanges.

The Surat-based textile firm submitted the disclosure to the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on August 12, 2026. The update is pursuant to Regulation 30(5) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Updated Contact Details

The company provided the following contact information for its key executives:

Mr. Narayan Sitaram Saboo, who holds the dual role of Managing Director and Chief Financial Officer, was listed with the company name as his contact point. Mr. Jatin Kharwa, serving as Company Secretary and Compliance Officer, provided specific office address and communication channels in Surat.

The disclosure was signed by Narayan Sitaram Saboo, bearing DIN 00223324.