Prag Bosimi Synthetics Limited has appointed M/s. G.S. Bhide & Associates as its secretarial auditor, effective August 20, 2026. The Board of Directors made the appointment during a meeting held on the same date to fill a casual vacancy in the office of the Secretarial Auditor.

The vacancy arose due to the sudden demise of Late Mr. Ashok Patel, Proprietor of M/s. Ashok Patel and Associates, which occurred on August 16, 2026. Mr. Patel held Practicing Company Secretaries Membership No. F10977 and COP No. 15326. The company acknowledged his professional guidance and contributions during his association with the firm.

Appointment Details

Based on the recommendation of the Audit Committee, the Board appointed Mrs. Gayatri Vaibhav Phatak of M/s. G.S. Bhide & Associates to fill the vacancy. Mrs. Phatak holds Membership No. A31886 and COP No. 11816. Her term will remain valid until the ensuing Annual General Meeting (AGM), where she will be eligible for re-appointment.

The Board also approved a five-year tenure for M/s. G.S. Bhide and Associates, covering the audit period from FY26-27 till FY30-31, subject to shareholder approval at the AGM.

Firm Profile

M/s. G.S. Bhide and Associates is a sole proprietorship and a peer-reviewed firm of Company Secretaries in Practice. The firm has over 10 years of experience providing professional services across Corporate Laws, SEBI Regulations, and FEMA Regulations. Its expertise includes conducting secretarial audits, due diligence audits, legal due diligence, corporate governance audits, and compliance audits. The firm holds Peer Review Number 2016/2022.

The Board meeting commenced at 5:30 pm and concluded at 5:50 pm. The company disclosed the appointment pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Part A of Schedule III of the said regulations.

Prag Bosimi Synthetics Limited ( prag bosimi synthetics ) reported a narrowed standalone loss of ₹147.7 lakh for the quarter ended June 30, 2026, compared to a loss of ₹269.3 lakh in the corresponding period of FY25. The company recorded zero revenue from operations as production remains suspended due to power disconnection issues. The consolidated results mirrored the standalone figures, with a loss of ₹147.7 lakh for the quarter.

The financial results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on August 12, 2026. The unaudited standalone and consolidated financial results were subjected to a limited review by M/s Rama K. Gupta & Co., Chartered Accountants, the statutory auditors of the company. The review was conducted in accordance with Standard on Review Engagement (SRE) 2410 issued by the Institute of Chartered Accountants of India.

Total income stood at ₹55.74 lakh, derived entirely from other income, while total expenses amounted to ₹203.44 lakh. Finance costs accounted for ₹108.44 lakh of these expenses, highlighting the ongoing burden of debt servicing despite the halt in operational activities. Depreciation and amortization expenses were ₹76.82 lakh, while employee benefits totaled ₹6.67 lakh.

Financial Performance

The company’s financial position reflects continued pressure from fixed costs in the absence of operating revenue. The debt-to-equity ratio remained elevated at -11.94 times on a consolidated basis, indicating significant leverage relative to equity. The current ratio stood at 1.74 times on a consolidated basis, down from 6.55 times at the end of FY26.

What the Numbers Show

The divergence between other income and operating expenses reveals the company’s current reliance on non-operating sources to offset losses. With other income at ₹55.74 lakh against total expenses of ₹203.44 lakh, the gap underscores the impact of suspended production. The reduction in net loss year-on-year is primarily driven by lower total expenses (₹203.44 lakh vs ₹301.14 lakh), suggesting cost containment measures or reduced activity levels in non-cash items. Finance costs remained constant at ₹108.44 lakh quarter-on-quarter in FY27, but decreased significantly from ₹108.44 lakh in Q1FY26 to ₹171.35 lakh in Q4FY26, indicating variability in interest accruals or principal repayments.

Corporate Actions

The Board of Directors, meeting on August 12, 2026, approved several key corporate actions:

• Director Appointments: Reappointment of Ms. Sunita Shah as Independent Director for a second term effective August 11, 2027. Appointment of Mr. Krish Vyas as Additional Non-Executive Director and Mr. Amitabh Saikia as Additional Independent Director, both effective August 17, 2026. Mr. Vyas is related to Non-Executive Director Mr. Devang Vyas.
• AGM Schedule: The 34th Annual General Meeting is scheduled for September 25, 2026, to be held via Video Conferencing/Other Audio-Visual Means. The register of members will remain closed from September 18 to September 25, 2026.

Operational Status

Production activities remain suspended due to power disconnection. The company stated it is in communication with APDCL for power restoration and plans to refurbish its 132 KV substation upon reconnection. Additionally, Prag Bosimi is following up with joint sector partner AIDC for the release of a ₹5.90 crore subsidy approved in December 2019, which could aid in fund generation. The group’s associate, Prag Jyoti Textile Park Private Limited, continues development of a greenfield textile park under the Scheme for Integrated Textile Park.

The company is currently undertaking a comprehensive review of the carrying amount and historical accounting treatment of certain Property, Plant and Equipment. As the review is in progress, no accounting adjustment has been recognized in these financial results.