Surbhi Industries has scheduled its 34th annual general meeting for September 29, 2026, with the book closure period running from September 23 to September 29. The company also disclosed e-voting timelines and cut-off dates for shareholders.

The Surat-based textile manufacturer held its board meeting on September 5, 2026, to address key corporate governance matters. The decisions require shareholder approval at the upcoming AGM.

Director Reappointment

The nomination and remuneration committee recommended the reappointment of Mr. Bipinbhai Jasmatbhai Patel (DIN: 00023447). His tenure will run from October 1, 2026, to September 30, 2031. The terms and conditions will be determined in accordance with the Companies Act, 2013.

Auditor Appointment

Based on the audit committee's recommendation, the board approved M/s Ghael Choksi & Company (Firm Regi no. 0153978W) as the statutory auditor. The firm holds Peer Review Certificate Number 6013/2024.

The appointment covers five consecutive years, from the conclusion of the 34th AGM until the conclusion of the 39th AGM. This period spans financial years 2026-27 through 2030-31. Remuneration will be mutually decided by the board and the auditors.

AGM and Voting Details

The company will hold its 34th annual general meeting on Tuesday, September 29, 2026, at 11:00 am. The meeting will be conducted through video conferencing or other audio-visual means.

Mr. Pragnesh M Joshi (FCS 7238 & COP-7743), a practicing company secretary based in Ahmedabad, was appointed as scrutinizer for the e-voting process. The board approved the draft notice for the AGM.

Surbhi Industries reported a net profit of ₹36.09 lakh for the quarter ended June 30, 2026, marking a 25% year-on-year decline from the ₹48.04 lakh recorded in Q1FY26. The Surat-based manufacturer saw revenue from operations contract by 18% to ₹667.99 lakh, down from ₹818.34 lakh in the corresponding period of FY26, as broader cost pressures and reduced non-operating income offset savings in material consumption.

The Board of Directors approved the unaudited financial results on July 28, 2026, in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were reviewed by the Audit Committee and subjected to a limited review by the statutory auditors, Ghael Choksi & Company. The company prepared the financial statements in accordance with IND AS notified under the Companies (Indian Accounting Standards) Rules, 2015.

Financial Performance Breakdown

Revenue from operations stood at ₹667.99 lakh, compared to ₹775.89 lakh in the preceding quarter (Q4FY26) and ₹818.34 lakh in the same quarter last year. Other income decreased significantly to ₹29.73 lakh from ₹87.30 lakh in Q4FY26 and ₹40.97 lakh in Q1FY26, contributing to a total income of ₹697.72 lakh.

Total expenses amounted to ₹661.63 lakh, a decrease from ₹822.14 lakh in the previous quarter but higher than the ₹811.27 lakh incurred in Q1FY26. Cost of materials consumed declined to ₹407.96 lakh from ₹427.91 lakh in the prior year period. However, this saving was partially negated by a rise in depreciation and amortisation expenses, which jumped to ₹102.06 lakh from ₹91.20 lakh in Q1FY26. Finance costs also remained elevated at ₹29.29 lakh compared to ₹53.62 lakh in the same quarter last year, though they were lower than the ₹61.95 lakh seen in Q4FY26.

What the Numbers Show

The divergence between revenue contraction and expense management highlights operational headwinds. While Surbhi Industries successfully reduced its cost of materials consumed, the increase in depreciation expenses suggests significant capital investments are impacting short-term profitability. Furthermore, the sharp decline in other income—from ₹40.97 lakh in Q1FY26 to ₹29.73 lakh in Q1FY27—indicates a reduction in non-operating returns, which previously provided a buffer against operating margin pressures. The absence of deferred tax benefits, unlike the ₹46.70 lakh benefit seen in Q4FY26, further compressed the bottom line, resulting in a net profit that is significantly lower than both the preceding quarter and the same period last year.