Shiva Mills shareholders unanimously approved the company’s audited financial statements for FY26 and appointed M/s CSR & Co as its new statutory auditors during the 11th Annual General Meeting held on August 27, 2026. The meeting also saw the reappointment of Smt A Lalitha as a director.

The proceedings were chaired by Sri S V Alagappan, Chairman and Managing Director. The quorum was present throughout the session, which commenced at 12:00 pm at the deemed venue in Coimbatore and concluded around 12:20 pm. Participation via audio-video mode was reckoned for quorum purposes in compliance with Ministry of Corporate Affairs and SEBI circulars.

Voting Participation and Results

The e-voting process saw significant promoter engagement, with promoters holding 64,75,916 shares casting all their votes. Public institutional investors held 28,126 shares, polling 27,686 votes (98.4% participation). Non-institutional public shareholders held 21,37,766 shares but polled only 7,506 votes (0.35% participation).

Overall, 65,11,108 votes were polled out of 86,41,808 outstanding shares, representing a 75.34% turnout. All four resolutions passed with 100% support from the votes polled. No votes were cast against any resolution.

Key Resolutions Passed

The following ordinary resolutions were approved by the members:

• Adoption of Audited Financial Statements for the year ended March 31, 2026, along with the Directors’ and Auditors’ reports.
• Reappointment of Smt A Lalitha (DIN 00003688) as a director, who retires by rotation.
• Appointment of M/s CSR & Co, Chartered Accountants, Coimbatore (ICAI Firm Registration No. 014424S) as Statutory Auditors for a term of five consecutive years, from the conclusion of this AGM until the conclusion of the 16th AGM.

Auditor Profile and Disclosure

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company disclosed details regarding the appointment of the new statutory auditors. M/s CSR & Co is a Chartered Accountant firm based in Coimbatore since 2013. The firm consists of 25 members, including partners, chartered accountants, managers, associates, executives, and article trainees.

The firm holds a valid peer review certificate issued by the Peer Review Board of the Institute of Chartered Accountants of India. Its sector experience includes Textile, Auto-Components, Light Engineering, Information Technology services, Health Care, Dairy, and Hospitality. The firm currently provides Audit & Assurance, Taxation Services, and Corporate Advisory Services. There are no disclosed relationships between the directors and the appointed auditors.

Special Business

Shareholders ratified the remuneration payable to Sri M Nagarajan, Cost Auditor (Firm Registration No. 102133). The approved fee is ₹1,00,000 (Rupees One Lakh only), besides reimbursement of out-of-pocket expenses, for conducting the audit of Cost Records for the Financial Year ending March 31, 2027.

Governance and Oversight

The retiring statutory auditors, M/s VKS Aiyer & Co, represented by Partner Sri Kaushik Sidartha, were present. The Secretarial Audit Report issued by Sri R Dhanasekaran was taken as read in the absence of any qualifications or adverse remarks.

All resolutions were passed through an e-voting system facilitated by MUFG Intime India Private Limited. Remote e-voting commenced on August 24, 2026, at 10:00 am and ended on August 26, 2026, at 5:00 pm. Mr R Dhanasekaran, Practicing Company Secretary (FCS 7070), served as the Scrutinizer for the e-voting process.

Shiva Mills Limited reported a net profit of ₹2.83 crore for the first quarter of fiscal year 2027 (Q1FY27), ending June 30, 2026, marking a significant turnaround from the net loss of ₹0.62 crore recorded in the corresponding period of the previous year. The Coimbatore-based textile manufacturer saw its revenue from operations rise 1.4% year-on-year to ₹38.10 crore, driven by stable demand and improved cost management. This performance underscores the company’s ability to navigate sectoral challenges while maintaining profitability in its core textile segment.

The Board of Directors approved the unaudited financial results at a meeting held on August 6, 2026. The results were reviewed by the Audit Committee and subjected to a limited review by the statutory auditors, M/s. VKS Aiyer & Co., Chartered Accountants, in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The figures were prepared in accordance with Indian Accounting Standards (Ind AS) notified under the Companies Act, 2013.

Financial Performance Highlights

Revenue from operations stood at ₹38.09 crore in Q1FY27, compared to ₹37.56 crore in Q1FY26. Other income contributed ₹0.52 crore, bringing total income to ₹38.62 crore. Total expenditure decreased to ₹35.23 crore from ₹38.33 crore in the prior year quarter, primarily due to reduced finance costs and favorable inventory movements.

Basic and diluted earnings per share (EPS) stood at ₹3.27, compared to a loss per share of ₹0.72 in Q1FY26. The company’s paid-up equity share capital remained unchanged at ₹8.64 crore.

What the Numbers Show

A key driver behind the profit turnaround was the sharp decline in finance costs, which dropped to ₹0.20 lakh in Q1FY27 from ₹1.55 lakh in Q1FY26. Additionally, changes in inventories resulted in a positive impact of ₹22.70 lakh, contrasting with an adverse impact of ₹28.28 lakh in the previous year. While cost of materials consumed increased to ₹26.42 crore from ₹25.10 lakh, the overall efficiency gains in other expenditure categories allowed the company to achieve a positive profit before tax of ₹33.89 crore, compared to a pre-tax loss of ₹6.63 lakh in the prior year. The company operates primarily in the textile business segment, with no subsidiaries or joint ventures.