Riba Textiles board of directors reappointed Amit Garg as managing director and Nitin Garg as whole-time director for three-year terms. The meeting also approved the date for the 38th annual general meeting.

The board convened on August 31, 2026, to transact routine business including the approval of the director’s report for FY26. Shareholders will vote on these appointments at the upcoming AGM.

Director Reappointments

The board approved the following reappointments subject to shareholder approval:

Amit Garg has served as a promoter director since 1994 and oversees management and administration. Nitin Garg, also a promoter director since 1994, handles sales and marketing functions.

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.

AGM Details

The company fixed September 24, 2026, as the date for the 38th AGM. The meeting will be held through video conferencing or other audio-visual means (OAVM).

Mr. Vishal Gupta, proprietor of M/s Vishal Gupta & Associates, was appointed as the scrutinizer for the e-voting process.

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.