Salona Cotspin Ltd has re-designated Manoj Kumar Jhajharia as Managing Director and Shyam Lal Agarwala as Chairman & Director, effective July 01, 2026. The Board of Directors approved these leadership changes during a meeting held on June 30, 2026. The appointments are subject to the approval of shareholders in the ensuing Annual General Meeting. Additionally, the Board appointed M/s. P S G & Co., Chartered Accountants, as the Internal Auditor for the financial year 2026-27.

Manoj Kumar Jhajharia, previously the Joint Managing Director, has been appointed as Managing Director for a five-year term ending June 30, 2031. Shyam Lal Agarwala, formerly the Chairman & Managing Director, has been re-designated as Chairman & Director and is not liable to retire by rotation. The company confirmed that neither executive is debarred from holding office by SEBI or any other statutory authority.

Pursuant to Regulation 30(5) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board authorized Manoj Kumar Jhajharia to determine the materiality of events and make disclosures to the stock exchanges. This authorization ensures compliance with regulatory requirements for timely information dissemination.

Key Appointments

Authorized Personnel Details

The Board also approved the appointment of M/s. P S G & Co. (F.R.N. 007279S) as Internal Auditor for the financial year 2026-27. The firm is a Coimbatore-based partnership firm specializing in assurance, taxation, and advisory services.

Salona Cotspin Limited reported a net profit of ₹156.14 lakh for the financial year ended March 31, 2026, a decrease of 50.2% compared to ₹313.31 lakh in the previous year. The company's revenue from operations for the year stood at ₹59,381.62 lakh, down from ₹66,215.64 lakh in FY25. The Board of Directors approved the audited financial results on May 29, 2026, and recommended a dividend of ₹0.60 per share, or 6%, subject to shareholder approval at the ensuing Annual General Meeting.

For the quarter ended March 31, 2026, the company reported a net loss of ₹136.53 lakh, contrasting with a profit of ₹32.83 lakh in the preceding quarter ended December 31, 2025. Revenue from operations for the quarter was ₹11,045.56 lakh. The total comprehensive income for the year was ₹172.56 lakh, a decline from ₹333.54 lakh in the prior year. The Board also appointed Mr. B. Venkateswar, a Practicing Cost Accountant, as the Cost Auditor for FY27.

The statutory auditors, M/s Gopalaiyer & Subramanian, issued an unmodified opinion on the audited financial results. The meeting commenced at 3.00 P.M. and concluded at 05.40 P.M. The disclosures were made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company's basic earnings per share (EPS) for FY26 was ₹2.97, down from ₹5.95 in the previous year. The paid-up equity share capital remained constant at ₹526.24 lakh. The Board noted that the implementation of new Labour Codes notified by the Government of India does not have a material impact on the financial results.