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.

Riba Textiles Limited reported a net profit of ₹812.63 lakh for the financial year ended March 31, 2026, compared to ₹849.97 lakh in the previous year. Revenue from operations for the year stood at ₹25537.89 lakh, a decrease from ₹29585.89 lakh in FY25. The company’s Board of Directors approved the audited standalone financial results for the quarter and year ended March 31, 2026, during a meeting held on May 29, 2026.

The statutory auditors, M/s Ashwani K Sindwani & Co., issued an audit report with an unmodified opinion on the standalone financial results. The results were reviewed by the Audit Committee and subsequently approved by the Board. The company operates in a single segment focused on the manufacturing of terry towels.

Financial Performance

For the quarter ended March 31, 2026, the company reported a net profit of ₹333.78 lakh, up from ₹237.63 lakh in the corresponding quarter of the previous year. Revenue from operations for the quarter was ₹7305.50 lakh, compared to ₹8233.44 lakh in the same period last year. Total expenses for the quarter decreased to ₹6912.35 lakh from ₹7966.82 lakh in the prior year quarter.

The Board also approved the re-appointment of M/s Midha & Associates as internal auditors for the financial year 2026-27. The firm was appointed to conduct the internal audit of the company for FY27.

Key Financial Metrics

The company’s total assets as of March 31, 2026, stood at ₹21802.61 lakh, an increase from ₹18144.64 lakh in the previous year. Equity share capital remained unchanged at ₹965.29 lakh. The cash flow statement indicated a net increase in cash and cash equivalents of ₹160.56 lakh during the year, bringing the closing balance to ₹414.66 lakh.