Sangam (India) Limited has appointed Ranjan Jagetia as an Additional Non-Executive Independent Director, effective July 28, 2026. The Board of Directors approved the appointment via a circular resolution passed on the same date, pursuant to Sections 149, 150, 152, and 161 of the Companies Act, 2013, and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This appointment addresses a vacancy created by the resignation of Sudhir Maheshwari from the office of Independent Director. Jagetia’s tenure is set for three years, subject to shareholder approval.

The appointment was recommended by the Nomination and Remuneration Committee. Jagetia brings extensive experience in apparel sourcing and investment advisory, currently serving as President of Taj Imports Inc., headquartered in Cleveland, Ohio, USA. He also holds associations with Aarco Uniform, Midwest Impex, Robotco Inc., and Oakwood Business Park, and serves as an Investment Advisor Representative. He holds an MBA from Louisiana Tech University and a Master of Accountancy from Case Western Reserve University. The Board confirmed that Jagetia is independent of management and holds no shares in the company.

Consequent to Jagetia’s appointment and Maheshwari’s departure, the Board reconstituted three key committees effective July 28, 2026, in compliance with Regulation 30 of the SEBI LODR Regulations. The composition changes ensure continued compliance with governance norms regarding independent director representation on critical oversight bodies.

Committee Reconstitution Details

The Audit Committee now includes Dinesh Chander Patwari as Chairman, with Upendra Prasad Singh, Ranjan Jagetia, and Anurag Soni as members. Patwari and Singh are Non-Executive Independent Directors, while Soni serves as Managing Director & Executive Director.

The Stakeholders Relationship Committee comprises Dinesh Chander Patwari as Chairman, Ranjan Jagetia as Member, and Ram Pal Soni as Member. Patwari and Jagetia are Non-Executive Independent Directors, while Soni is Chairman & Executive Director.

The Risk Management Committee saw a change in chairmanship to Vinod Kumar Sodani, Executive Director. The remaining members include Anurag Soni (Managing Director & Executive Director), Upendra Prasad Singh (Non-Executive Independent Director), Irina Garg (Non-Executive Independent Director), and Pranal Modani (Chief Executive Officer).

Governance Compliance

The company disclosed these changes under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Schedule III and the SEBI Master Circular. Jagetia is not related to any existing director of Sangam (India) Limited and is not debarred from holding office by any SEBI order or other authority. The disclosures were submitted to both the National Stock Exchange of India Ltd. and the Bombay Stock Exchange Ltd. on July 28, 2026.

Sangam (India) Ltd has scheduled an Extra-Ordinary General Meeting (EGM) on Wednesday, August 12, 2026, to seek shareholder approval for the preferential allotment of 18,00,000 warrants to promoters and promoter group entities. The issue price is fixed at ₹555.56 per warrant, aggregating up to ₹100,00,08,000. The company reported a standalone net profit of ₹3,935 lakh for Q1FY27, a significant increase from ₹427 lakh in the corresponding period of the previous year, alongside robust revenue growth.

The Board of Directors, in its meeting held on July 18, 2026, approved the proposal to issue warrants convertible into equity shares. The relevant date for determining the issue price is July 13, 2026. The proceeds from the issue, totaling ₹100 crore, are intended to finance capital expenditure for expansion and modernization of manufacturing facilities, meet working capital requirements, and support general corporate purposes. The capital expenditure plan includes setting up capacities in cotton yarn, denim fabric, and recycled polyester fibre, with completion targeted by March 31, 2029.

Warrant Allotment Details

The warrants will be issued to seven identified allottees, including promoters and promoter group entities such as Sangam E-com Limited and Nidhi Mercantiles Limited. Allottees must pay at least 25% of the warrant issue price upon allotment, with the balance payable upon conversion. The warrants are convertible into an equal number of equity shares within 18 months from the date of allotment. If the option is not exercised within this period, the warrants will lapse, and the amount paid will be forfeited.

Shareholding Pattern and EGM Details

Post-allotment, the promoter and promoter group holding will increase to 71.53% from 70.52%, while public holding will decrease to 26.68% from 27.63%. The warrants and the equity shares arising upon conversion will be subject to lock-in periods as specified under the SEBI ICDR Regulations. The EGM will be held through Video Conferencing/Other Audio-Visual Means (VC/OAVM). Remote e-voting will be available from August 8, 2026, at 9:00 A.M. IST to August 11, 2026, at 5:00 P.M. IST, with the cut-off date for voting eligibility being August 5, 2026.

Financial Performance

For the quarter ended June 30, 2026, Sangam (India) Ltd reported a standalone net profit of ₹3,935 lakh, compared to ₹427 lakh in Q1FY26. Revenue from operations stood at ₹84,554 lakh, up from ₹78,576 lakh in the prior year. EBITDA rose to 1.1B rupees from 576M, with the EBITDA margin expanding to 12.3% from 7.3%. On a consolidated basis, net profit after tax was ₹4,102 lakh, up from ₹213 lakh in the same period last year.