Oxford Industries Limited approved a drastic 99% reduction in its paid-up share capital to offset accumulated business losses of ₹12,95,40,119 as of March 31, 2026. The Board of Directors also considered and approved the unaudited standalone financial results for the quarter ended June 30, 2026, reporting a loss of ₹3.45 lakh. This capital restructuring aims to clean up the balance sheet by setting off losses against capital, leaving 59,360 fully paid-up equity shares of face value ₹10 each, aggregating to ₹5,93,600. Shareholders must approve this scheme at the ensuing Annual General Meeting (AGM). The move is critical for the company’s survival, aiming to restore net worth after years of operational deficits.

The Board meeting was held on August 8, 2026, at the company’s registered office in Mumbai. In compliance with Regulation 30 and Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company disclosed these outcomes to BSE Limited. The resolution for capital reduction is subject to shareholder approval and requires filing the scheme with the stock exchange under Regulation 37 of SEBI (LODR) Regulations, 2015, if necessary. The Board also deferred the proposal to shift the registered office from one state to another.

Financial Performance

For the quarter ended June 30, 2026, Oxford Industries Limited reported no revenue from operations. Total expenses stood at ₹3.45 lakh, comprising employee benefits expense of ₹0.40 lakh and other expenses of ₹3.05 lakh. This resulted in a profit before tax of (₹3.45) lakh. There were no exceptional or extraordinary items. The loss per share was (₹0.06) basic and diluted.

The statutory auditors, M/s Lipika & Associates, issued a limited review report on the unaudited financial results. Jayesh R Shah, Partner at Lipika & Associates, signed the report on August 8, 2026. The company has adopted Indian Accounting Standards (Ind AS) since April 1, 2017.

Board Changes and AGM Details

Mrs. Kattakota Satyabati Devi resigned from the post of Whole Time Director effective August 8, 2026, due to personal reasons and other professional engagements. She continues to serve as a Non-Executive Director. Her appointment as an additional director dates back to March 6, 2026. The Board noted her resignation and change in designation, disclosing details pursuant to SEBI/HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026.

The 45th Annual General Meeting is scheduled for September 11, 2026, at 3:00 P.M., via Video Conferencing or Other Audio Visual Means (OAVM). The register of members will remain closed from September 5, 2026, to September 11, 2026. The cut-off date for determining eligible voters is September 4, 2026. E-voting will be facilitated through the CDSL platform, with Mr. Suprabhat Chakraborty of M/s Suprabhat & Co. appointed as the scrutinizer.

Oxford Industries Limited appointed Mr. Saroj Kumar Choudhury as its Chief Financial Officer effective July 17, 2026, during its board meeting. The board also approved the resignation of the existing statutory auditor and the appointment of a new firm, alongside a proposal to reduce the share capital by 99% due to accumulated business losses. These decisions are subject to shareholder approval in the ensuing Annual General Meeting.

The board accepted the resignation of M/s. PAMS & Associates, Chartered Accountants, effective June 19, 2026. The resignation was attributed to geographical constraints, as the firm is based in Bhubaneswar while the company operates from Mumbai. Consequently, the board appointed M/s. Lipika and Associates, Chartered Accountants, as the statutory auditor for a term of five years from FY2026-2027 to FY2030-2031, pending member approval.

Mr. Saroj Kumar Choudhury, who is also the Managing Director, was appointed as the Chief Financial Officer. He recently acquired promoter status following an open offer, holding 27,61,576 shares, which constitutes 46.46% of the paid-up capital. The former promoter, Mr. Mazher N Laila, has ceased to be a promoter and is now classified as a public shareholder.

The board proposed shifting the registered office from Maharashtra to Orissa and approved the enlargement of the Main Object Clause of the Memorandum of Association to include healthcare and pharmaceutical businesses. This involves the insertion of new clauses to establish hospitals, nursing homes, and diagnostic centres, and to trade in pharmaceutical products and medical equipment.

The meeting was held in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board also appointed a registered valuer for the valuation report regarding the capital reduction.