Polytex India Limited has accepted the resignation of Abhijeet Prasad from his position as Company Secretary and Compliance Officer, effective from the close of business hours on August 10, 2026. The departure, attributed to personal reasons, marks a change in the company’s Key Managerial Personnel. The management relieved Prasad of his duties and responsibilities immediately following the acceptance of his resignation letter dated August 10, 2026.

The company disclosed the resignation to BSE Limited in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015. The intimation was filed within 24 hours of the resignation’s effective date, adhering to regulatory timelines set by SEBI Circular no. CIR/CFD/CMD/4/2015 dated September 09, 2015, and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.

Resignation Details

Abhijeet Prasad, who held Membership No. A68344, tendered his resignation citing personal reasons. The Board of Directors accepted the resignation on August 10, 2026. No replacement for Prasad has been announced in this filing.

The resignation letter, along with detailed reasons, was annexed to the filing as Annexure-B. The disclosure ensures transparency regarding changes in key managerial roles, allowing investors and stakeholders to stay informed about leadership transitions at Poltex India Limited.

Regulatory Compliance

Polytex India Limited confirmed that all procedural requirements under the SEBI (LODR) Regulations were met. The company’s Director and CFO, Arvind Mulji Kariya (DIN: 00216112), signed the intimation letter addressed to the Corporate Relationship Department of BSE Limited. The script code for Poltex India Limited on the exchange is 512481, with Script ID POLYTEX.

This administrative update reflects standard corporate governance practices where companies promptly disclose changes in compliance and secretarial roles to maintain regulatory adherence and market transparency.

Polytex India Limited convened its Board of Directors meeting on Saturday, May 16, 2026, at Wellness Villa, Juhu, Mumbai, approving the audited standalone financial results for the quarter and full year ended March 31, 2026. The meeting, held pursuant to Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, commenced at 3:00 PM and concluded at 7:00 PM. The statutory audit was conducted by Agrawal Jain & Gupta, Chartered Accountants, who issued an unmodified opinion on the financial statements.

Financial Performance: Zero Revenue, Widening Losses

The company reported nil revenue from operations for both the full year and the quarter ended March 31, 2026. Total expenditure for the full year stood at ₹14.51 lakhs, driven primarily by other expenses of ₹12.16 lakhs, employee benefit expenses of ₹1.80 lakhs, and finance costs of ₹0.56 lakhs. This resulted in a net loss of ₹14.51 lakhs for FY26, compared to a net loss of ₹10.65 lakhs in the previous year, reflecting a deterioration in financial performance.

The table below summarises the key financial results across periods (Amount in ₹ Lacs):

Balance Sheet and Cash Flow Position

As at March 31, 2026, the company's total assets stood at ₹292.28 lakhs, marginally lower than ₹292.81 lakhs in the prior year. Financial assets comprised cash and cash equivalents of ₹4.88 lakhs and investments of ₹285.12 lakhs. Total liabilities increased to ₹58.89 lakhs from ₹44.91 lakhs, with borrowings rising to ₹29.12 lakhs from ₹22.38 lakhs and trade payables increasing to ₹16.92 lakhs from ₹12.48 lakhs. Equity attributable to owners stood at ₹233.39 lakhs, down from ₹247.90 lakhs in the previous year, reflecting the accumulated losses.

The standalone balance sheet highlights are presented below (Amount in ₹ Lacs):

On the cash flow front, net cash used in operating activities was ₹6.73 lakhs for FY26, compared to ₹7.10 lakhs in FY25. Cash flow from financing activities amounted to ₹6.74 lakhs, primarily from loans raised from third parties, resulting in a negligible net change in cash and cash equivalents. The closing cash balance remained at ₹4.88 lakhs, unchanged from the opening balance.

Going Concern and Auditor Observations

The auditors, Agrawal Jain & Gupta, flagged a material uncertainty related to going concern, noting that the company incurred a loss of ₹14.51 lakhs during the year ended March 31, 2026, and that current liabilities exceeded current assets by ₹47.50 lakhs as of that date. The auditors observed that these conditions cast significant doubt on the company's ability to continue as a going concern. However, the financial statements were prepared on a going concern basis, supported by a financial undertaking from the company's promoter to continue extending financial assistance as required. The auditors also highlighted that the valuation of unquoted investments, as per Ind AS 109, is pending an independent valuation report, and they were unable to comment on the same. The audit opinion was not modified in respect of either matter.

Board Decisions: Director Resignation and Internal Auditor Appointment

In addition to approving the financial results, the board took note of the resignation of Mr. Anandkumar Labhshankar Trivedi (DIN: 10956744), Additional Executive Director, effective April 24, 2026. The board also appointed Mr. CA Sunil Sureka as Internal Auditor to conduct the internal audit for the financial year 2025-26. Key details of the internal auditor appointment are as follows:

The intimation was signed by Arvind Mulji Kariya, Director and CFO (DIN: 00216112). The paid-up equity share capital of the company remains at ₹1,350.00 lakhs, comprising shares of face value ₹10 each, fully paid.