Shiva Texyarn shareholders overwhelmingly approved all six resolutions at the company's 45th Annual General Meeting on August 27, 2026, with voting results showing near-unanimous support.

The consolidated scrutinizer's report confirmed that 96,02,709 shares voted in favour of each resolution, representing 100% of the total votes polled (96,02,710). Only one share was cast against each item. The meeting was conducted via Video Conferencing or Other Audio-Visual Means, with Chairman S V Alagappan presiding from the registered office in Coimbatore.

Key Resolutions Passed

Shareholders voted on four ordinary business items and two special business items. The Board proposed the final dividend, which was approved by members alongside the adoption of new corporate governance frameworks.

Special resolutions focused on statutory compliance:

• Altering the object clause of the Memorandum of Association to enlarge operational areas.
• Adopting new Articles of Association compliant with the Companies Act, 2013, replacing the existing AOA based on the erstwhile Companies Act, 1956.

Ordinary resolutions included:

• Approval of standalone and consolidated financial statements for FY26.
• Declaration of a 6% dividend on equity shares.
• Reappointment of Smt. S Sujana Abirami as a director.
• Ratification of remuneration for M Nagarajan, the Cost Auditor.

Voting Details

The e-voting process was managed by MUFG Intime India Private Limited. Remote e-voting remained open for three days from August 24 to August 26, 2026. The AGM commenced at 10:00 am and concluded around 10:53 am. E-voting closed shortly after at 11:08 am.

R Dhanasekaran served as the independent scrutinizer. The data was unblocked and downloaded in the presence of two witnesses not employed by the company, ensuring procedural transparency under Section 108 of the Companies Act, 2013 and SEBI Listing Regulations.

Governance and Operations

Thirty-seven members representing 96,04,285 shares attended the meeting. Key attendees included Managing Director S K Sundararaman, CFO C Krishnakumar, and statutory auditors from VKS Aiyer & Co.

Managing Director S K Sundararaman briefed members on operational challenges, citing spiraling cotton prices. He outlined measures taken to improve efficiency and cost control amidst these industry headwinds. The alteration to the main object clause involves inserting a new clause III(A)(2) to enable enlarged operational areas, while irrelevant clauses were deleted or regrouped to align with current statutory provisions.

Shiva Texyarn Limited reported a standalone net profit of ₹1.72 crore for the quarter ended June 30, 2026, a 24% decline from ₹2.27 crore in the corresponding period of FY25. The drop underscores the company’s sensitivity to non-operational income volatility, as other income fell sharply to ₹0.37 crore from ₹2.05 crore in Q1FY25. For investors tracking textile sector performance, the result highlights how irregular other income streams and input cost fluctuations impact bottom-line stability.

The Board of Directors approved the unaudited financial results on August 6, 2026, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The figures were reviewed by statutory auditors VKS Aiyer & Co., Chartered Accountants, Coimbatore, under Standard on Review Engagement (SRE) 2410. The consolidated results include the associate company L.K. Distributors Private Limited.

Financial Performance

Revenue from operations stood at ₹73.81 crore, a 3% decrease from ₹76.18 crore in Q1FY25 but an 11% drop from the preceding quarter’s ₹82.87 crore. Total income was ₹74.19 crore against ₹76.39 crore in the prior year quarter. Expenses totaled ₹71.92 crore, slightly below the ₹73.68 crore recorded in Q1FY25, primarily due to lower cost of materials consumed at ₹29.18 crore versus ₹41.64 crore previously.

Basic earnings per share were ₹1.33, compared to ₹0.25 in Q4FY26 and ₹1.75 in Q1FY25. Consolidated net profit was ₹1.86 crore, down from ₹2.46 crore in Q1FY25.

What the Numbers Show

The divergence between profit before tax trends and net profit outcomes is notable. While profit before tax rose to ₹2.27 crore from ₹0.94 crore in the prior quarter, it remained below the ₹2.70 crore recorded in Q1FY25. The primary driver for the sequential improvement in profitability was not revenue growth—which actually declined—but rather a sharp reduction in total expenses, which fell from ₹86.19 crore to ₹71.92 crore. However, the year-on-year comparison reveals that despite lower material costs, the inability to replicate the higher other income levels seen in previous periods constrained overall profitability growth.