Parmeshwari Silk Mills Limited held its 33rd Annual General Meeting on September 19, 2026. The meeting concluded with shareholders approving key administrative changes and adopting the audited financial statements for the fiscal year ended March 31, 2026.

The most significant outcome was the change in designation of Mr. Jatinder Pal Singh from Whole Time Director to Managing Director. This special resolution was passed during the meeting, effective from August 27, 2026.

Key Resolutions Passed

Shareholders approved several ordinary and special resolutions during the meeting, which commenced at 12:00 pm and concluded at 1:02 pm at the company’s registered office in Ludhiana.

Leadership Changes

Mr. Jatinder Pal Singh’s new term as Managing Director runs from August 27, 2026, to August 31, 2029. This covers the remainder of his existing appointment period. The company disclosed that he brings over three decades of experience in business planning and development.

His remuneration will be determined by the Board of Directors based on recommendations from the Nomination and Remuneration Committee, in accordance with Schedule V of the Companies Act, 2013.

Meeting Proceedings

Mr. Khushvinder Bir Singh, Chairperson and Independent Director, presided over the meeting. A total of nine members were present, establishing the requisite quorum. The company facilitated remote e-voting for all resolutions, with ballot voting available for those present who had not voted electronically.

M/s. P S Bathla & Associates served as the Scrutinizer for the voting process. The Statutory Auditor, M/s. Montek S & Associates, and Secretarial Auditor, M/s. P S Bathla & Associates, were also present.

The Chairperson provided an overview of the company’s financial performance for FY25-26 before inviting questions from members. The consolidated scrutinizer report is expected to be submitted within two working days of the meeting conclusion.

Parmeshwari Silk Mills has scheduled its 33rd Annual General Meeting for September 19, 2026, at its registered office in Ludhiana. The meeting will address the adoption of financial statements and a change in director designation.

The Board of Directors approved the notice on August 27, 2026. Shareholders will vote on changing Mr. Jatinder Pal Singh’s designation from Whole-time Director to Managing Director, effective August 27, 2026, until August 31, 2029. Ms. Harinder Kaur retires by rotation and offers herself for re-appointment.

Financial Performance

Parmeshwari Silk Mills reported a 14.1% year-on-year increase in standalone net profit to ₹8.61 crore for FY26, driven by higher revenue and operational efficiencies.

Revenue from operations grew by 5.4% to ₹240.65 crore, up from ₹228.26 crore in FY25. Consolidated net profit rose more sharply to ₹9.97 crore from ₹8.65 crore, supported by contributions from its subsidiary, Harappa Textile Mills Private Limited.

Total income on a standalone basis reached ₹240.99 crore, compared to ₹228.66 crore in FY25. Profit before tax (PBT) increased to ₹11.60 crore from ₹10.20 crore. Earnings per share (EPS) stood at ₹28.71 for the current year against ₹25.19 in the prior period.

On a consolidated basis, revenue from operations climbed to ₹249.01 crore. The consolidated PBT was ₹13.22 crore, reflecting improved margins across the group structure.

What the Numbers Show

While revenue growth remained modest at 5.4%, the double-digit jump in net profit indicates effective cost management. Employee benefit expenses remained nearly flat at ₹33.51 crore against ₹33.41 crore in FY25, despite the revenue increase. Additionally, finance costs decreased slightly to ₹81.18 crore from ₹87.17 crore, contributing positively to the bottom line expansion.

Corporate Governance & AGM Details

The Board of Directors did not recommend any dividend for FY26, opting to conserve resources. The company will hold its 33rd Annual General Meeting on September 19, 2026, to adopt the financial statements and ratify the remuneration of cost auditors M/s Pawan & Associates.

Shareholders will vote on a special resolution to change the designation of Mr. Jatinder Pal Singh from Whole-time Director to Managing Director. Ms. Harinder Kaur retires by rotation and offers herself for re-appointment.

The board fixed the cut-off date for e-voting services as September 12, 2026. The e-voting period runs from September 16, 2026, at 9:00 am to September 18, 2026, at 5:00 pm. M/s P S Bathla & Associates has been appointed as the scrutinizer for the e-voting process.