Nandan Denim Limited concluded its 32nd Annual General Meeting on September 24, 2026, approving the reappointment of Jyotiprasad Chiripal as Managing Director. The meeting, conducted via video conferencing, also ratified related party transactions with promoter group entity Chiripal Industries Limited.

The company adopted its audited standalone financial statements for FY26. Shareholders also approved the remuneration for cost auditors M/s. A.G. Tulsian & Co. for the financial year ending March 31, 2027. The proceedings were overseen by scrutinizer M/s. J. D. Khatnani & Associates to ensure fair e-voting.

Resolutions passed

The following items from the notice were transacted through remote e-voting and voting at the meeting:

Chairman’s address

Jyotiprasad Chiripal, Managing Director and Chairman, briefed members on financial performance and strategic direction. He highlighted ongoing geopolitical conflicts and uncertainty regarding United States import duties as factors affecting trade in the denim industry. The Chairman thanked shareholders for their continued trust.

Voting and compliance details

The AGM was held at 3:00 pm IST through Video Conferencing/Other Audio Visual Means. Remote e-voting commenced on September 21, 2026, and ended on September 23, 2026. Results of the voting are scheduled to be declared within 48 hours of the meeting's conclusion.

Nandan Denim has scheduled its 32nd Annual General Meeting for Thursday, September 24, 2026, at 3:00 pm via Video Conference or Other Audio Visual Means. The company released the Annual Report for FY26 on September 1, 2026.

The e-voting process begins on Monday, September 21, 2026, at 9:00 am and concludes on Wednesday, September 23, 2026, at 5:00 pm. Shareholders can cast their votes through the designated platform at www.evotingindia.com .

Key Dates and Details

Agenda Highlights

The meeting will transact both ordinary and special business. Key resolutions include:

• Adoption of Financial Statements: Shareholders will consider and adopt the Audited Standalone Financial Statement for the financial year ended March 31, 2026.
• Reappointment of Director: Mr. Jyotiprasad Chiripal (DIN: 00155695) retires by rotation and offers himself for reappointment as a director.
• Cost Auditor Remuneration: Ratification of remuneration for Cost Auditors M/s A.G. Tulsian & Co. for FY27, not exceeding ₹3.00 lakhs plus taxes and out-of-pocket expenses.
• Managing Director Reappointment: Reappointment of Mr. Jyotiprasad Chiripal as Managing Director for five years from June 1, 2027, to May 31, 2032. He will not draw remuneration from the company for this role.
• Related Party Transactions: Approval of material related party transactions with promoter group entity Chiripal Industries Limited (CIL) for FY27, not exceeding ₹350 crore.

Related Party Transaction Details

The proposed transactions with CIL are structured on an arm's length basis in the ordinary course of business. The company’s annual consolidated turnover for FY26 was ₹2,871.88 crore, setting a materiality threshold of 10% (₹287.19 crore). The proposed limit exceeds this threshold.

In FY26, actual transactions with CIL included purchases of ₹30.88 crore and sales of ₹327.58 crore. CIL holds a 24.96% stake in Nandan Denim. Mr. Jyotiprasad Chiripal is also the Managing Director and Promoter of CIL.

What the Numbers Show

The approval of related party transactions capped at ₹350 crore represents approximately 12.19% of Nandan Denim’s FY26 annual consolidated turnover. This indicates a significant operational interdependence with the promoter group, particularly in sales which constituted the majority of prior-year transactions with CIL.

Shareholder Information

The company will circulate the Annual Report for FY25-26 along with the AGM notice electronically to shareholders with registered email addresses. Those without registered emails will receive a letter containing a web link to the documents. The documents are also available on the company website.

Shareholders are requested to update their email IDs and bank details with their Depository Participants or the Registrar and Share Transfer Agent to receive e-communications. Physical shareholders must submit Form ISR-1 to the RTA.