Suryalakshmi Cotton Mills has reshuffled its Board of Directors, appointing Venkata Phani Kiran Kumar Immaneni as an Additional Director (Non-Executive & Independent Director) effective July 27, 2026. The change coincides with the exit of Dhruv Vijai Singh, who ceased to be an Independent Director upon completing his second and final consecutive term on the same date. These governance updates are critical for maintaining the company’s compliance with SEBI’s listing regulations regarding independent director tenure limits.

The appointment of Immaneni is subject to approval by the members of the company at a general meeting. He assumes office for a first term of five consecutive years starting July 27, 2026. The Board expressed appreciation for the guidance and contributions made by Singh during his tenure.

Key Board Changes

Regulatory Compliance

The company disclosed these changes pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This filing serves as a continuation of a previous intimation dated May 25, 2026. The disclosures were submitted to both the National Stock Exchange of India Limited and BSE Limited to ensure transparency for investors regarding the composition of the Board.

E. V. S. V. Sarma, Company Secretary & Compliance Officer of Suryalakshmi Cotton Mills, signed the communication. The company remains an ISO 9001:2015 and ISO 14001:2015 certified entity, operating from its registered office in Secunderabad, Telangana.

Suryalakshmi Cotton Mills Limited reported a net profit of ₹311.54 lakh for the financial year ended March 31, 2026. The company's total income for the year stood at ₹80,494.15 lakh, while total expenses were ₹80,037.87 lakh. For the fourth quarter, the net profit was ₹82.51 lakh on a total income of ₹24,186.41 lakh. The statutory auditors issued an unmodified opinion on the audited financial statements.

Financial Performance

The board noted that export sales were marginally affected due to US tariffs, geopolitical unrest, and other global factors, though the consequential impact on the financial statements was not considered material. Exceptional items for the year included interest income of ₹483.87 lakh received on a refund of deposit from the Department of Customs and a write-off of an insurance claim receivable amounting to ₹457.70 lakh.

Board Decisions and Appointments

The Board of Directors approved the audited financial results and the reconstitution of various committees, including the Audit Committee and Nomination & Remuneration Committee, effective July 27, 2026. This follows the completion of the tenure of Sri Dhruv Vijai Singh and the appointment of Sri Venkata Phani Kiran Kumar Immaneni as an Independent Director for a period of five years. The board also approved the re-appointment of M/s. K. Vijayaraghavan & Associates, LLP as Internal Auditors, M/s. S. Hariharan & Associates as Cost Auditors, and M/s. Brahmayya & Co. as Tax Auditors for the financial year 2026-27.

Preference Shares and Dividend

The board approved the waiver of preference dividend for FY 2025-26 for both 10% Cumulative Redeemable Preference Shares and 5% Non-Cumulative Redeemable Preference Shares. The redemption period for 5,00,000 10% Cumulative Redeemable Preference Shares of ₹100 each was extended to August 17, 2029, to facilitate better cash flow management. Additionally, the board approved the redemption of 2,00,000 5% Non-Cumulative Redeemable Preference Shares aggregating to ₹2,00,00,000 out of the profits of the company. The board did not recommend any dividend on equity shares for FY 2025-26.