Riba Textiles Limited has announced that all five resolutions proposed at its 38th Annual General Meeting held on September 24, 2026, were passed with the requisite majority. The meeting focused on the adoption of standalone financial statements for the fiscal year ended March 31, 2026, and the re-appointment of key board members.

The proceedings were conducted via Video Conferencing and Other Audio Visual Means in compliance with Ministry of Corporate Affairs circulars and SEBI listing regulations. Due to pre-occupation, Chairperson Asha Garg and Independent Director SS Miglani were unable to attend. Managing Director Amit Garg chaired the meeting, with Company Secretary Neha Dubey facilitating the session.

Voting results and scrutiny

The consolidated scrutinizer’s report, submitted by CS Vishal Gupta of M/s Vishal Gupta & Associates, confirmed the passage of all items of business. The report detailed the breakdown of votes cast through remote e-voting and during the AGM itself.

Key voting metrics include:

• Total shareholders on record date: 5,105
• Shareholders attended via VC: 4 promoters, 157 public
• Total votes polled (Resolution 1): 6,122,467
• Votes in favour (Resolution 1): 6,122,158

Resolutions passed

Members voted on five resolutions, including ordinary and special items concerning financial approvals and director appointments. The specific voting outcomes for each resolution are summarized below:

Meeting logistics and voting process

The company provided remote e-voting facilities from September 21 to September 23, 2026. Members present virtually who had not voted remotely were allowed to cast their votes during the meeting. The meeting commenced at 10:30 am and concluded at 11:05 am, with voting lines remaining open for an additional 15 minutes post-closure.

Central Depository Services Limited (CDSL) served as the authorized agency providing e-voting facilities. The scrutinizer’s report noted that all registers and records relating to remote e-voting and venue e-voting remain under safe custody and will be handed over to the Chairman after signing the Minutes of the Annual General Meeting.

Riba Textiles has submitted the notice for its 38th annual general meeting along with the annual report for FY26 to the Bombay Stock Exchange on September 2, 2026. The filing was made pursuant to Regulation 34 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company’s board convened on August 31, 2026, to approve the director’s report for FY26 and fix the AGM date for September 24, 2026. Shareholders will vote on key agenda items via remote e-voting from September 21 to September 23, 2026. The record date for voting rights is September 17, 2026.

Director Reappointments

The board approved the following reappointments subject to shareholder approval:

Amit Garg, a promoter director since 1994, oversees management and administration. His proposed remuneration includes a monthly salary of ₹15 lakh and life insurance premium perquisites up to ₹15 lakh annually. Nitin Garg, also a promoter director since 1994, handles sales and marketing with an identical remuneration structure.

Shyam Sunder Miglani is appointed for his second five-year term as independent director. He is a practicing advocate since 1969 with expertise in law, accounts, and finance.

Financial Performance Context

The AGM will also consider the adoption of audited standalone financial statements for FY26. Key financial figures for the period ended March 31, 2026, are:

Revenue declined in FY26 compared to the previous year, while net profit saw a marginal decrease. The company attributes margin pressure to exchange fluctuations impacting overseas export sales and changes in customer demand.

AGM Details

The meeting will be held through video conferencing or other audio-visual means (OAVM) at 10:30 am. Mr. Vishal Gupta was appointed as the scrutinizer for the e-voting process. Large shareholders holding 2% or more, promoters, and institutional investors can attend without restriction, while other participants are limited to 1,000 slots on a first-come, first-served basis.