Siddheswari Garments reported a 450.91% year-on-year rise in net profit for FY26, reaching ₹23.27 lakh (₹2,327.08 in hundreds). The gain was primarily driven by the write-off of outstanding liabilities rather than operational activity, as the firm recorded zero revenue from operations.

The Kolkata-based entity continues to operate without manufacturing activities, relying instead on interest income from short-term deposits and investments. Total revenue stood at ₹35.83 lakh, up from ₹30.21 lakh in the previous year. Total expenditure rose to ₹31.16 lakh from ₹27.71 lakh.

Financial Performance

Siddheswari Garments generated no sales revenue during the financial year ended March 31, 2026. All income came from other sources, predominantly interest earned on bank deposits and loans.

Other income included ₹28.20 lakh in interest on loans and advances, ₹2.40 lakh in interest from banks, and ₹5.10 lakh from the write-off of outstanding liabilities. Employee benefits expense remained stable at ₹11.69 lakh, while other expenses increased to ₹18.92 lakh from ₹16.40 lakh, largely due to higher listing fees and legal charges.

What the Numbers Show

The company’s profitability is entirely disconnected from core business operations. With zero revenue from operations, the reported net profit of ₹23.27 lakh is derived almost exclusively from non-operating items. Specifically, interest income and liability write-offs constitute 100% of the total revenue, indicating that the entity functions primarily as an investment holding vehicle rather than an active garment manufacturer.

Balance Sheet & Liquidity

Total assets grew to ₹35.63 crore (₹35,62,675.69 in hundreds) from ₹31.21 crore in FY25. Non-current assets, dominated by financial investments, accounted for ₹34.61 crore. Cash and cash equivalents rose significantly to ₹63.27 lakh from ₹41.75 lakh, bolstered by interest receipts.

The balance sheet shows no borrowings or secured loans. Current liabilities were minimal at ₹4.82 lakh, comprising trade payables. Deferred tax liabilities decreased to ₹13.23 lakh from ₹17.10 lakh.

Corporate Governance & AGM

The 32nd Annual General Meeting is scheduled for September 30, 2026, at the registered office in Kolkata. Shareholders will vote on the re-appointment of directors Abhishek Poddar, Satya Narayan Chaudhury, and Rakesh Kumar Agarwal. Additionally, Mukesh Agarwal will be appointed as an independent director.

M/s N Dokania & Associates has been recommended for re-appointment as statutory auditors for a five-year term following the sudden demise of the previous auditor, Mr. R. K. Bajaj, in October 2025. The company faced a SEBI fine of ₹1.77 lakh for delayed submission of quarterly results due to this transition.

No dividend was declared for FY26 as the board decided to retain surplus funds for future business growth.

Siddheswari Garments Limited has fixed September 23, 2026, as the record date for determining shareholder eligibility for its 32nd Annual General Meeting (AGM). The meeting is scheduled for September 30, 2026.

The company’s Board of Directors concluded its meeting on Saturday, August 29, 2026. During the session, the board approved the notice for the AGM and finalized key director appointments, subject to shareholder approval.

AGM Details and Book Closure

The 32nd AGM will be held at 10:00 am at the company’s registered office in Kolkata. To determine eligibility for participation and voting, shareholders must be on the register as of September 23, 2026.

The register of members and share transfer books will remain closed from September 24 to September 30, 2026, both days inclusive. This closure aligns with the AGM schedule and ensures an accurate list of eligible voters.

Director Appointments and Cessations

The board approved several changes to its composition based on recommendations from the Nomination and Remuneration Committee.

• Re-appointment of Independent Directors: Mr. Satya Narayan Chaudhury (DIN: 09302633) and Mr. Rakesh Kr. Agarwal (DIN: 09302571) were re-appointed as Independent Directors. Both were originally appointed on September 1, 2021, and will serve a second term of five consecutive years starting September 1, 2026.
• New Appointment: Mr. Mukesh Agarwal (DIN: 06726721) was appointed as an Additional Director in the category of Non-Executive Independent Director. This appointment replaces Mr. Uma Nath Singh, whose tenure expired. Mr. Agarwal’s term is five consecutive years effective from August 29, 2026.
• Cessation: Mr. Uma Nath Singh (DIN: 00301884) ceased to be an Independent Director upon the expiry of his tenure at close of business hours on August 31, 2026.

Consequent to these changes, the board reconstituted its committees, including the Audit Committee, Nomination and Remuneration Committee, and Stakeholders' Relationship Committee, effective August 29, 2026.

Committee Composition

The revised composition of the key committees is as follows:

Other Approvals

The board appointed M/s. Rajarshi Ghosh & Associates as the Scrutinizer for the remote e-voting process and voting at the AGM. The firm will submit its report in accordance with the Companies Act, 2013.

Sanjay Kumar Shah, Whole-time Director, signed the communication. The filing was dispatched to the listing departments of BSE Limited and The Calcutta Stock Exchange Limited in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.