Piotex Industries Limited held its 7th Annual General Meeting on September 23, 2026. The company reported that all proposed resolutions were passed unanimously by the members present and voting.

The meeting was conducted via video conferencing at 11:00 am IST. Voting results were disclosed to BSE Limited under Regulation 44(3) of SEBI (LODR) Regulations, 2015. The scrutiny was conducted by Nirav Shah & Associates.

Meeting proceedings and duration

Mr. Abhay Asalkar, Managing Director and Chairman of the Company, chaired the proceedings. He welcomed members and informed them that remote e-voting facilities were available prior to the meeting and during the AGM. Mr. Yogesh Nimodiya, Executive Director, addressed the members regarding business performance, growth opportunities, and outlook.

A Question and Answer forum was opened for registered speakers to seek clarifications on the resolutions or financial statements. No requests or queries were raised by shareholders during this session. The Chairman thanked the shareholders and enabled e-voting for an additional 30 minutes for those who had not yet voted. The AGM commenced at 11:00 am and concluded at 11:11 am IST.

Resolution outcomes

Two ordinary resolutions were put to vote. Both received 100% votes in favour from the total votes polled. No votes were cast against any resolution, and there were no invalid or abstained votes.

The first resolution involved adopting the audited financial statements for the fiscal year ended March 31, 2026. This included the balance sheet, profit and loss statement, cash flow statement, and reports of the Board of Directors and auditors.

The second resolution concerned the re-appointment of Yogesh Omprakash Nimodiya as a director liable to retire by rotation. Nimodiya serves as the Executive Director of the company.

Voting participation details

Voting was conducted through remote e-voting prior to the meeting and during the AGM. The total number of shares outstanding stood at 5,103,600. Out of these, 3,367,035 votes were polled, representing 65.97% of the total share capital.

Promoters and promoter group members voted 3,365,670 shares. Public non-institutional shareholders voted 1,365 shares. Institutional shareholders did not participate in the voting process for these resolutions.

What the numbers show

The data reveals a significant concentration of voting power within the promoter group. Promoters cast 3,365,670 votes out of the 3,367,035 total votes polled. This accounts for approximately 99.96% of all votes cast during the meeting.

Public non-institutional participation was minimal, contributing only 1,365 votes. This represents 0.08% of the shares held by this category (1,737,930 shares). The low turnout from public shareholders indicates that the outcome of the AGM was effectively determined by the promoter group's stance.

Piotex Industries formally published the notice for its seventh annual general meeting in leading newspapers on August 27, 2026. The company confirmed the advertisement appeared in the Financial Express (English) and Loksatta (Regional) editions of Ahmedabad. The AGM is scheduled for September 23, 2026.

The board approved the meeting notice on August 26, 2026. The AGM will be conducted via video conferencing at 11:00 am IST. Shareholders holding shares as of September 16, 2026, are eligible to attend and vote.

Financial Performance

For the fiscal year ended March 31, 2026, Piotex Industries saw a sharp contraction in both top-line and bottom-line figures compared to the previous year.

Revenue from operations fell to ₹902.1 crore from ₹1,343.6 crore in FY25. Other income rose modestly to ₹68.3 lakh from ₹34.4 lakh, driven primarily by interest income of ₹66.4 lakh. Total revenue stood at ₹908.9 crore.

EBITDA contracted sharply to ₹11.8 crore from ₹49.9 crore. Finance costs decreased to ₹25.9 lakh from ₹47.9 lakh, while depreciation increased slightly to ₹3.6 lakh from ₹2.1 lakh. Profit before tax declined to ₹88.5 lakh. After tax expenses of ₹22.9 lakh, net profit after tax was ₹65.6 lakh, down significantly from ₹336.3 lakh in the prior year.

Board Approvals and Agenda

During the board meeting held on August 26, 2026, directors approved the notice for the 7th AGM, the Directors' Report, and the appointment of M/s Nirav Shah & Associates as scrutinizer. The meeting lasted from 3:30 pm to 3:50 pm.

Key agenda items include:

• Adoption of audited financial statements for FY26.
• Reappointment of Mr. Yogesh Omprakash Nimodiya as a director liable to retire by rotation.

Mr. Nimodiya, who serves as Executive Director and Chief Financial Officer, holds an MBA and has 27 years of experience in sales and marketing. He was originally appointed to the board in October 2019 and reappointed as Executive Director in August 2023. As of March 31, 2026, he held 16,82,670 equity shares. His remuneration for the fiscal year was ₹12 lakh per annum.

Voting and Logistics

Members can attend the AGM via VC/OAVM facilities in compliance with MCA and SEBI circulars. Remote e-voting will be facilitated by National Securities Depository Limited (NSDL). The voting period runs from September 20, 2026, at 9:00 am to September 22, 2026, at 5:00 pm.

The annual report and AGM notice are available on the company's website and BSE Limited's platform. Printed copies will be dispatched only upon specific request.