Saraswati Saree Depot has confirmed the schedule for its sixth annual general meeting, set for September 18, 2026. The meeting will be conducted via video conferencing or other audio-visual means, in compliance with Ministry of Corporate Affairs circulars.

The company disclosed this information on August 25, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This action ensures compliance with Regulation 36(1)(b) of the SEBI Listing Regulations, guaranteeing all members receive necessary documents.

Meeting Agenda

The agenda includes ordinary business items such as the adoption of audited standalone financial statements for FY26. Members will also vote on the reappointment of Mr. Mahesh Sajandas Dulhani as a director retiring by rotation.

Special Business Resolutions

Shareholders will consider special resolutions regarding board composition and audit appointments:

• Reappointment of Mr. Yatiraj Shivpratap Marda as an independent director for a five-year term starting June 20, 2026.
• Reappointment of Mr. Amar Thorat as an independent director for a five-year term starting August 2, 2026.
• Appointment of PPC & Co as statutory auditors for a five-year tenure concluding at the FY31 AGM.

E-Voting Details

Remote e-voting opens on September 15, 2026, at 9:00 am and closes on September 17, 2026, at 5:00 pm. The record date for voting eligibility is September 10, 2026. Bigshare Services Private Limited facilitates the e-voting process.

Saraswati Saree Depot reported a 23.45% decline in net profit after tax (PAT) to ₹234.06 crore for the financial year ended March 31, 2026. The drop followed a normalization in inventory movements, which had boosted earnings in the prior year. Revenue from operations grew 4.57% to ₹6,311.62 crore.

The company maintained its debt-free status, with cash reserves rising to ₹699.28 crore. Shareholders overwhelmingly approved the inclusion of real estate development as an additional business object via postal ballot. An interim dividend of ₹1.515 per share was declared during the year.

Financial Performance

Revenue growth was driven by core operations in the saree wholesale segment. However, profitability contracted as the company did not benefit from the significant inventory drawdown seen in FY25. Operating expenses, including employee benefits and depreciation, increased alongside revenue.

EBITDA margins contracted to 5.10% from 7.14% in the previous year. Finance costs fell sharply by 55.99% to ₹10.03 crore, reflecting improved capital efficiency and reduced leverage.

What the Numbers Show

The divergence between revenue growth and profit contraction highlights the impact of inventory accounting on reported earnings. In FY25, a reduction in inventory stock contributed positively to profits. In FY26, inventory levels remained relatively stable, closing at ₹1,206.91 crore compared to ₹1,254.05 crore in FY25. This normalization removed the tailwind present in the prior year's figures, resulting in lower absolute profits despite higher sales volume.

Balance Sheet and Dividends

The company strengthened its liquidity position. Cash and cash equivalents rose by nearly 50% to ₹699.28 crore. Trade receivables decreased to ₹724.20 crore from ₹849.83 crore, indicating improved collection cycles. The current ratio improved to 2.98 times from 2.63 times.

The Board declared an interim dividend of ₹1.515 per equity share during the year, totaling approximately ₹60 million. No final dividend was recommended for the upcoming Annual General Meeting scheduled for September 18, 2026.

Strategic Developments

Shareholders approved an amendment to the Memorandum of Association to include real estate development as an additional object of the company. The resolution received 99.95% support via postal ballot. Management stated this move provides flexibility to evaluate opportunities in the sector while complementing the core textile trading business. No specific projects have been undertaken yet.

The company also initiated a pilot entry into the men's ethnic wear segment and launched its first exclusive retail outlet in Kolhapur to gather direct-to-consumer insights.