Super Spinning Mills Limited concluded its 64th Annual General Meeting on August 28, 2026, with shareholders approving the audited financial statements for FY26.

The meeting was conducted through Video Conferencing and Other Audio Visual Means (VC/OAVM) in compliance with Ministry of Corporate Affairs circulars and SEBI Listing Obligations regulations. A total of 56 members representing 2,43,53,086 equity shares attended the proceedings.

Key Resolutions Approved

Shareholders voted on ordinary business items including:

• Adoption of the Annual Audited Financial Statements for the year ended March 31, 2026, comprising the Statement of Profit and Loss, Cash Flows, and Changes in Equity.
• Re-appointment of Mr. Sanjay Krishna Ramamurthi as a Director on retirement by rotation.

The Chairman informed members that resolutions were put to vote via e-voting administered by MUFG Intime India Private Limited (formerly Link Intime). Remote e-voting was open from August 25 to August 27, 2026, with additional voting facility available during the meeting.

Board and Auditor Presence

The following directors participated in the meeting through VC/OAVM:

Key Managerial Personnel, including Company Secretary Mrs. Sabeetha Devarajan and CFO Mrs. Padmavathy P, also attended. Statutory Auditors CSK Prabhu & Co. and Secretarial Auditors MDS & Associates LLP were present to address queries regarding their reports.

Procedural Compliance

Mr. M D Selvaraj of MDS & Associates LLP served as the Scrutinizer for the e-voting process. The Chairman opened the floor for registered speaker shareholders to raise queries, which were addressed by board members. The combined scrutinizer's report and voting results were declared for placement on the company website and stock exchanges.

super spinning mills reported a consolidated net profit of ₹55.89 lakh for the quarter ended June 30, 2026, marking a sharp recovery from a net loss of ₹5.19 lakh recorded in the same quarter of the previous fiscal year. The Board of Directors approved the unaudited financial results on August 6, 2026, highlighting that the profit was primarily driven by the company’s continuing rental services segment, which posted robust operational performance despite ongoing losses from discontinued textile activities.

The statutory auditors, C S K Prabhu and Co LLP, issued a limited review report dated August 6, 2026, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were prepared in accordance with Ind AS 34 and other generally accepted accounting principles in India. No dividend was declared during the quarter.

Financial Performance Overview

The company’s total income from operations stood at ₹149.51 lakh, comprising net sales from rental services. Other income contributed ₹8.53 lakh, primarily from interest income. Total expenses for the quarter amounted to ₹102.13 lakh, including employee benefit expenses of ₹6.65 lakh, power and fuel costs of ₹4.87 lakh, and finance costs of ₹26.25 lakh. Depreciation and amortization expenses were recorded at ₹32.15 lakh.

Profit before tax from continuing operations rose to ₹55.92 lakh from ₹48.86 lakh in Q1FY26. After accounting for a deferred tax benefit of ₹5.81 lakh, profit from continuing operations reached ₹61.72 lakh. In contrast, discontinued textile operations incurred a loss of ₹5.83 lakh after tax, compared to a loss of ₹41.34 lakh in the prior year period.

Segment Analysis and Asset Position

The rental services segment remains the sole contributor to revenue, generating ₹149.51 lakh in sales. This segment reported a profit before tax and finance costs of ₹82.17 lakh, compared to a loss of ₹75.26 lakh in Q1FY26. The textile segment, classified as discontinued, reported no revenue but incurred expenses of ₹4.63 lakh, leading to a pre-tax loss of the same amount.

Total assets under continuing operations decreased slightly to ₹8,974.30 lakh from ₹8,980.59 lakh at the end of FY26. Liabilities associated with continuing operations fell to ₹1,667.84 lakh from ₹1,730.01 lakh. Conversely, assets related to discontinued operations remained minimal at ₹3.52 lakh, while liabilities stood at ₹2,315.07 lakh.

What the Numbers Show

The most significant development in Super Spinning Mills’ Q1FY27 results is the decoupling of profitability from its legacy textile business. With textile operations fully discontinued, the company’s financial health is now entirely dependent on its rental services segment. The shift from a consolidated net loss of ₹5.19 lakh in Q1FY26 to a profit of ₹55.89 lakh in Q1FY27 underscores the stabilizing effect of the rental portfolio. However, the persistence of liabilities totaling ₹2,315.07 lakh against negligible assets of ₹3.52 lakh in the discontinued segment indicates that the company still carries substantial residual obligations from its former textile activities, which may continue to impact cash flows through finance costs and potential restructuring charges.