Prakash Woollen & Synthetic Mills concluded its 47th Annual General Meeting on September 25, 2026, with all resolutions passing with requisite majority. The meeting, presided over by Chairman Dr. Sandeep Raj, saw unanimous support for the adoption of FY26 financial statements and key director reappointments.

The event took place at the company's registered office and works location at 18th Km Stone, Delhi Moradabad Road, NH-24, Village Amhera, District J. P. Nagar. Company Secretary Sneha Agarwal welcomed members and introduced the Board, auditors, and the scrutinizer. Dr. Sandeep Raj declared the meeting open after confirming quorum, noting that no qualifications were present in either the Statutory Auditor Report or the Secretarial Audit Report.

Scrutinizer confirms voting outcomes

Ballot papers (MGT 12) were distributed to members present who had not voted via remote e-voting. The Ballot Box was opened in the presence of two witnesses, and papers were collected by scrutinizer Rupinder Singh Bhatia. Based on the scrutinizer's report submitted on September 25, 2026, the voting results have been declared.

The final results will be placed on the company's website and communicated to BSE Limited. No financial performance metrics were disclosed in this specific procedural update regarding the AGM outcome.

Resolution-wise voting details

The scrutinizer's report detailed the voting patterns for four key resolutions. All ordinary and special resolutions received unanimous support from valid votes cast, with no invalid votes recorded.

Procedural compliance and next steps

The scrutinizer noted that no proxy was received and no poll paper was found incomplete or defective. The total number of members casting votes was 213, comprising 12 present and voting in person or by proxy, and 201 voting electronically. The new data specifies that 95 members were present in person with zero proxies, aligning with the procedural count of those voting physically during the session.

All poll papers and records were sealed and handed over to the Director authorized by the Board for safe keeping. The Company Secretary & Compliance Officer, Sneha Agarwal, confirmed the submission of the report to BSE Limited.

Director re-appointment specifics

Pursuant to the approval of Resolution 4, Vijay Kumar Gupta has been formally re-appointed as Whole Time Director for a three-year term effective from April 1, 2027, to March 31, 2030. This appointment complies with Sections 196, 197, and 203 of the Companies Act, 2013, read with Rule 8 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, and Schedule V.

Gupta, who holds a commerce degree, has served the company since its incorporation, bringing 47 years of experience in accounting and financial management. His shareholding in the company stands at 423,709 shares. He is the brother of Daya Kishan Gupta and father of Ashish Gupta.

The proposed remuneration for this term is ₹7,00,000 per month, inclusive of perquisites. This amount aligns with the company's Nomination and Remuneration Policy. The terms and conditions are governed by his appointment letter.

Prakash Woollen & Synthetic Mills will hold its 47th Annual General Meeting on September 25, 2026, at 11:45 am. The meeting will be conducted through Video Conferencing or Other Audio Visual Means (OAVM), with a physical venue available at its registered office in Amroha, Uttar Pradesh. The primary agenda involves shareholders approving the re-appointment of Vijay Kumar Gupta as Whole Time Director and Chief Financial Officer for three years, alongside adopting the audited financial statements for FY26.

The company reported a net loss of ₹88.77 lakh for the fiscal year ended March 31, 2026, reversing a profit of ₹125.65 lakh in FY25. The Board attributed the decline to a sudden increase in the cost of raw materials and boiler fuel, which the company stated it was unable to pass on to customers through price hikes.

Financial Performance Overview

Despite the operational loss, the company recorded a profit before depreciation and tax of ₹322.51 lakh in FY26, compared to a loss of ₹396.03 lakh in the prior year. However, high depreciation charges of ₹428.31 lakh pushed the pre-tax position into negative territory at ₹(57.98) lakh. Deferred tax adjustments further widened the final net loss to ₹88.77 lakh.

What the Numbers Show

The divergence between the operating profit before depreciation and the final net loss highlights the significant impact of non-cash expenses on the bottom line. While core operations generated a positive cash flow proxy of ₹322.51 lakh before depreciation, the heavy depreciation burden of ₹428.31 lakh—combined with deferred tax movements—resulted in a reported net loss. This suggests that while underlying operational margins may have improved relative to FY25's operating loss, fixed asset amortization remains a substantial drag on reported profitability.

Management Re-appointment and Shareholder Compliance

Shareholders will vote on a special resolution to re-appoint Mr. Vijay Kumar Gupta, who will turn 75 in August 2028, as Whole Time Director until March 31, 2030. His remuneration is set at ₹7 lakh per month. The Board noted that Mr. Gupta has been with the company since its incorporation in 1979 and played a key role in shifting the business focus from yarn manufacturing to mink blankets.

Other agenda items include the re-appointment of directors Ashish Gupta and Vijay Kumar Gupta by rotation. E-voting for the meeting will be open from September 22 to September 24, 2026, with a record date of September 19, 2026.

In compliance with SEBI Master Circular No. SEBI/HO/MIRSD/POD-1/P/CIR/2024/37 dated May 07, 2024, the company has reminded shareholders holding physical securities to update their KYC details. This includes recording PAN, address with PIN code, mobile number, bank account details, specimen signature, and nomination choice. Security holders holding physical shares without updated PAN, nomination, contact details, bank account, or specimen signature are eligible for payments only through electronic mode effective from April 1, 2024. Shareholders are advised to update their email addresses to receive future communications electronically.