PBM Polytex held its 107th Annual General Meeting on September 28, 2026, adopting the standalone and consolidated financial statements for the year ended March 31, 2026. The meeting was conducted through Video Conferencing due to prevailing guidelines.

The proceedings were chaired by Managing Director Gopal Patodia, as Chairman Krishan Kumar Patodia sought leave of absence. The company reported a quorum of 32 members present via virtual means, representing a shareholder base of 4,110 individuals holding 68,79,020 shares as of the cut-off date of September 21, 2026.

Key Resolutions Passed

Members voted electronically on several ordinary and special business items. The adoption of audited financial statements included the Directors' Report and Auditors' Reports. Additionally, Mohan Kumar Patodia was reappointed as a director retiring by rotation.

Special business resolutions focused on leadership continuity and asset management:

• Ratification of remuneration for the Cost Auditor for FY27.
• Reappointment of Gopal Patodia and Mohan Kumar Patodia as Managing Directors.
• Approval of revised remuneration for Amit Patodia, Senior President cum Chief Executive Officer.
• Reappointment of Amishal Modi as Independent Director for a second five-year term.
• Authorization to renew lease agreements and Power Purchase Agreements or dispose of wind mill undertakings.
• Approval for donations towards charitable funds.

Governance and Compliance

The meeting noted that there were no qualifications or adverse observations in the Secretarial Audit Report or Auditors' Reports regarding financial transactions or company functioning. M/s J J Gandhi & Co. served as scrutinizers for the e-voting process, while M/s Mahendra N. Shah & Co. acted as Statutory Auditors.

The Chairman addressed shareholders on the current economic situation and challenges within the cotton spinning industry. The meeting concluded at 11:15 am, with the e-voting facility remaining open for an additional 15 minutes.

PBM Polytex has scheduled its 107th Annual General Meeting for September 28, 2026, at 11:00 am via video conferencing. The primary agenda involves the potential disposal of wind mill undertakings and the re-appointment of key board members.

The company has set September 22, 2026, as the record date. Shareholders holding shares on or before the cut-off date of September 21, 2026, will be eligible to vote electronically. The book closure period runs from Tuesday, September 22, 2026, to Monday, September 28, 2026, inclusive. Remote e-voting commences on Friday, September 25, 2026, at 9:00 am and closes on Sunday, September 27, 2026, at 5:00 pm.

Annual Report and Shareholder Communications

The company has issued an intimation regarding the availability of its Annual Report for FY26. Pursuant to Regulation 36(1)(b) of the SEBI Listing Regulations, a physical letter containing the weblink and exact path to the report is being sent to shareholders who have not registered their email addresses with the company, depositories, or the Registrar and Share Transfer Agent, MUFG Intime India Pvt Ltd.

The Annual Report for the Financial Year 2025-26 can be accessed via the company’s website at the following path:

This communication also serves as a reminder for security holders holding physical securities to update their KYC details pursuant to SEBI Master Circular No. SEBI/HO/MIRSD/POD-1/P/CIR/2024/37 dated May 7, 2024. The circular mandates recording PAN, address, mobile number, bank account details, specimen signature, and nomination choices. Payments for folios without updated details will only be made electronically effective April 1, 2024.

Agenda: Wind Mill Asset Disposal

The primary agenda item involves the potential disposal of wind mill undertakings. The company seeks shareholder approval to either renew lease agreements or sell, scrap, or otherwise dispose of four wind mill units as a going concern.

These assets have a book value of ₹123.65 lakh as on March 31, 2026. They face expiring land leases and power purchase agreements in 2027.

Board and Management Re-appointments

Shareholders will vote on the re-appointment of Gopal Patodia and Mohan Kumar Patodia as Managing Directors for three-year terms starting April 1, 2027. Both directors exceed the standard age limit of 70 years but have been recommended for retention due to their extensive industry experience.

Additionally, the board proposes re-appointing Amishal Modi as an Independent Director for a second five-year term from August 12, 2027, to August 11, 2032.

Executive Compensation Changes

The meeting will also address a revision in the total remuneration for Amit Patodia, Senior President cum Chief Executive Officer. His annual pay is proposed to increase from ₹60 lakh to ₹72 lakh, effective October 1, 2026. This change requires shareholder consent under Section 188 of the Companies Act, 2013, as he is a relative of a director.

Financial Context

PBM Polytex reported a standalone net loss of ₹148.75 lakh for FY26, an improvement from the ₹467.82 lakh loss recorded in FY25. Revenue from operations declined to ₹16,651.92 lakh in FY26 from ₹17,621.48 lakh in the prior year.

What the Numbers Show

Other income surged significantly to ₹863.81 lakh in FY26 compared to ₹198.25 lakh in FY25. This sharp rise in non-operating income helped narrow the net loss despite the decline in core revenue and operating margins, which remained negative with an EBITDA of ₹214.38 lakh against revenue of ₹16,651.92 lakh.

Corporate Actions

The company will ratify the remuneration of K. C. Moondra & Associates as Cost Auditor for FY27 at ₹60,000 plus GST. Furthermore, shareholders are asked to approve charitable contributions up to ₹18 lakh per financial year, which may exceed the statutory limit of 5% of average net profits given the recent loss-making years.