Shanti Spintex Limited has issued the notice convening its 16th Annual General Meeting (AGM), scheduled to be held on Friday, September 11, 2026, at 4:00 pm. The meeting will be conducted exclusively through Video Conferencing (VC) or Other Audio-Visual Means (OAVM), in compliance with Ministry of Corporate Affairs (MCA) and SEBI circulars permitting virtual general meetings.

The company has engaged KFin Technologies Limited to facilitate the remote e-voting process. The e-voting window will open on Tuesday, September 8, 2026, at 9:00 am and close on Thursday, September 10, 2026, at 5:00 pm. Shareholders holding shares as on the cut-off date of September 4, 2026, are eligible to vote. The register of members and share transfer books will remain closed from September 6, 2026, to September 10, 2026.

Key Dates

Agenda Items

The ordinary business for the 16th AGM includes:

• Receiving, considering, and adopting the Standalone and Consolidated Audited Financial Statements for the financial year ended March 31, 2026, along with the reports of the Board of Directors and Auditors.
• Re-appointment of Mrs. Urmila B. Agarwal (DIN: 01909441) as a Non-Executive Director. She retires by rotation at this meeting and is eligible for re-appointment.

Director Details

Mrs. Urmila B. Agarwal, aged 67, holds a Bachelor of Commerce degree and possesses over 25 years of experience in operations, quality control, and team leadership. She is the wife of Mr. Bharatbhushan O. Agarwal (Whole Time Director) and the mother of Mr. Rikin B. Agarwal (Managing Director). Her current shareholding in the company stands at 1,037,800 shares. She also serves as a director on the boards of Rikin Fabrics Private Limited and Dulari Fabrics Private Limited.

Participation and Voting Instructions

Members can attend the e-AGM by logging into the KFin Technologies platform using their remote e-voting credentials. Individual shareholders holding securities in demat mode can access the voting system via NSDL or CDSL portals. Corporate and institutional shareholders must submit a certified copy of the Board Resolution authorizing their representative to vote to the Scrutinizer, M/s. HDS & Associates, represented by Mrs. Heti Rehen Gandhi.

The facility for joining the AGM via VC/OAVM will be available for at least 1,000 members on a first-come, first-served basis, though promoters, institutional investors, and directors are not restricted by this limit. Members wishing to speak during the meeting must register as speakers between September 8, 2026, at 9:00 am and September 9, 2026, at 5:00 pm.

The notice, along with the Annual Report for FY26, has been sent electronically to members who registered their email addresses with the company or depositories as on August 14, 2026 (Benpos date). Mohini Agarwal, Company Secretary and Compliance Officer, issued the intimation from Ahmedabad.

Shanti Spintex reported a consolidated net profit of ₹991.10 lakh for the financial year ended March 31, 2026, marking a significant turnaround from the previous year’s standalone results. The surge in profitability was primarily driven by the consolidation of Teesta Spintex Private Limited, which became a wholly owned subsidiary in May 2025.

Standalone performance showed mixed signals. Revenue from operations declined 3.8% year-on-year to ₹6,828.17 lakh, down from ₹7,099.40 lakh in FY25. Standalone net profit fell sharply by 56% to ₹448.76 lakh, reflecting softer margins and lower sales realizations despite effective cost control measures on operating expenses.

Financial Performance Overview

The company presented its first-ever consolidated financial statements for FY26, incorporating the operations of Teesta Spintex. On a consolidated basis, revenue from operations stood at ₹7,042.14 lakh, while other income contributed ₹43.25 lakh. Total expenses were recorded at ₹6,964.86 lakh, resulting in a profit before tax of ₹1,204.81 lakh.

What the Numbers Show

A critical divergence exists between the standalone and consolidated figures. While standalone revenue contracted nearly 4%, consolidated revenue remained stable relative to the prior year’s standalone top line. This indicates that the subsidiary, Teesta Spintex, contributed approximately ₹214 lakh in incremental revenue during its partial-year inclusion (May–March). Furthermore, the consolidated debt-equity ratio stands at 0.60, higher than the standalone ratio of 0.39, suggesting the group has taken on additional leverage to fund the forward integration strategy.

Operational and Strategic Updates

Shanti Spintex achieved full capacity utilization of 19.2 million meters in FY25, setting a strong operational baseline. The acquisition of Teesta Spintex represents a strategic move toward forward integration in the textile value chain, aimed at enhancing operational synergies and control.

The company continues to focus on sustainability, with over 50% of its power requirements met through renewable sources, including a 2 MW wind energy plant and rooftop solar installations. This initiative has helped reduce costs and improve efficiency amid fluctuating energy prices.

Balance Sheet and Liquidity

As of March 31, 2026, standalone reserves and surplus increased to ₹8,339.94 lakh from ₹7,987.99 lakh in the previous year, driven by retained earnings. The consolidated reserves and surplus stood at ₹8,886.36 lakh.

Short-term borrowings rose significantly to ₹3,732.71 lakh on a standalone basis, up from ₹1,152.55 lakh in FY25, indicating increased reliance on working capital finance. However, the debt service coverage ratio improved to 5.97 times, demonstrating strong capacity to service debt obligations despite the higher borrowing levels. The board did not recommend any dividend for FY26, opting to conserve resources for future growth plans.