Oswal Yarns Limited shareholders approved all five resolutions at its 44th Annual General Meeting, including the re-appointment of key directors. The scrutinizer report dated October 1, 2026, confirmed unanimous or near-unanimous support for the adoption of FY26 financial statements and director re-appointments.

The meeting, held on September 30, 2026, in Ludhiana, saw remote e-voting conclude on September 29. The final tally revealed strong shareholder backing for Executive Chairman Bharatt Oswall and Managing Director Tej Paul Oswal, whose re-appointments required special majorities.

Voting outcomes for key resolutions

The adoption of audited financial statements for FY26 and the re-appointment of Vama Oswal received 100% support from valid votes cast. Both ordinary resolutions passed without any dissenting votes recorded in either electronic or physical voting.

The special resolutions for director re-appointments also passed comfortably. Bharatt Oswall’s re-appointment as Whole-time Director secured 99.96% of valid votes in favour. Tej Paul Oswal’s re-appointment as Managing Director received 99.94% support. Nipun Vyas, re-appointed as Independent Director, also garnered 100% of valid votes in favour.

Voting mechanism and participation

Remote e-voting was open from September 27 to September 29, 2026. Physical voting took place during the meeting at Chik-Fi Restaurant. The scrutinizer, Vikas Rai Berry, compiled the consolidated report using data from the CDSL portal and physical ballots.

For the re-appointment of Bharatt Oswall, 550 votes were cast against the resolution via e-voting, while 390,050 votes were marked invalid. Similarly, for Tej Paul Oswal, 550 votes were against, and 886,100 were invalid. Despite these invalid votes, the requisite three-fourths majority for special resolutions was clearly met.

The meeting commenced at 10:30 am and concluded at 12:10 pm. The scrutinizer’s report has been submitted to stock exchanges and uploaded to the company website for public access.

Oswal Yarns Limited reported a net loss of ₹12.43 lakh for FY26, widening from a loss of ₹11.98 lakh in FY25. The textile manufacturer’s gross revenue contracted 31% to ₹137.20 lakh, driven by sluggish market conditions and rising input costs.

The company will hold its 44th Annual General Meeting on September 30, 2026, to adopt these financial results and reappoint key board members. Shareholders holding shares as of September 23, 2026, are eligible to vote via e-voting between September 27 and September 29, 2026.

Board and Management Reappointments

The special business agenda focuses on the reappointment of three directors for five-year terms:

• Bharatt Oswall as Whole-time Director, with a gross monthly remuneration of ₹15,500. His past remuneration was ₹1.69 lakh in FY26.
• Tej Paul Oswal as Managing Director (Corporate Affairs), who will not draw any salary during his tenure.
• Nipun Vyas as an Independent Director, commencing March 4, 2026.

Additionally, Ms. Vama Oswal retires by rotation and offers herself for reappointment as a director.

Financial Performance in FY26

The explanatory statement reveals a contraction in top-line revenue and continued losses. Gross revenue fell to ₹137.20 lakh in FY26 from ₹199.39 lakh in FY25. Profit before tax stood at a loss of ₹12.51 lakh, compared to a loss of ₹13.93 lakh in the prior year.

The management attributed the losses to sluggish market conditions, rising input costs, and low realizations in the woollen yarn and shoddy yarn segments. No foreign investments or collaborations were made during FY26.

What the Numbers Show

A notable divergence exists between the proposed remuneration for Whole-time Director Bharatt Oswall and his historical compensation. While he received a gross monthly remuneration of ₹1.69 lakh in FY26, the proposed package for the new five-year term is fixed at ₹15,500 per month. This represents a significant reduction in stated monthly pay, aligning with the company’s precarious financial position and the decision to have Managing Director Tej Paul Oswal serve without salary.