Suryavanshi Spinning Mills Limited has fixed September 19, 2026, as the record date for its 47th Annual General Meeting (AGM). The meeting is scheduled to take place on September 30, 2026, at the Incredible One Hotel in Secunderabad.

The company will close its register of members and share transfer books from September 19, 2026, to September 30, 2026, to determine eligibility for the AGM. Shareholders holding equity shares on the record date will be entitled to attend and vote at the meeting.

E-Voting and Cut-Off Details

The cut-off date for determining eligibility to vote electronically or physically at the AGM is September 18, 2026. Remote e-voting will commence on September 26, 2026, at 9:00 am and conclude on September 29, 2026, at 5:00 pm.

AGM Agenda and Financial Context

The AGM will seek shareholder approval for the audited financial statements for FY26, which reported a net profit of ₹132.22 lakh, marking a turnaround from a net loss of ₹167.89 lakh in FY25. Revenue from operations grew significantly to ₹692.03 lakh in FY26, up from ₹264.17 lakh in the previous year.

Other key agenda items include the reappointment of Managing Director Rajender Kumar Agarwal, who retires by rotation, and approval of related-party transactions for FY27. These transactions involve contracts with entities where relatives of Mr. Agarwal serve as partners or directors, with proposed limits ranging from ₹5 crore to ₹50 crore.

Auditor Observations

Statutory Auditors K.S. Rao & Co. issued a qualified opinion on the FY26 financial statements. The qualification relates to long-pending trade payables aggregating to ₹205.39 lakh, where the limitation period has expired under the Limitation Act, 1963. The auditors noted insufficient evidence to determine if adjustments were required.

The audit report also highlighted unpaid statutory dues for Employees' State Insurance (₹3.67 lakh) and Provident Fund (₹3.47 lakh) dating back to 2019-2024. Additionally, the company did not enable the audit trail feature in its accounting software during the year.

Suryavanshi Spinning Mills Limited reported a net profit of ₹18.35 lakh for the quarter ended June 30, 2026 (Q1FY27), marking a significant turnaround from a net loss of ₹60.62 lakh in the corresponding period of FY26. This return to profitability is notable given the company’s accumulated losses of ₹2,464.23 lakh as of June 30, 2026, and a balance sheet where current liabilities exceed current assets. The recovery was driven by a 93% year-on-year surge in revenue from operations to ₹217.36 lakh, primarily stemming from improved efficiency in its continuing business segments, while the discontinued spinning division continued to drag on overall performance.

The financial results were approved by the Board of Directors on August 12, 2026, alongside key corporate governance changes. The Board took note of the resignation of Mr. Rishabh Jain from the post of Company Secretary and Compliance Officer, effective August 12, 2026. Mr. Jain cited career advancement and professional growth as reasons for his departure. Simultaneously, the Board approved the appointment of Ms. Pratyansha Pandey as the new Company Secretary, effective the same date, based on recommendations from the Nomination and Remuneration Committee. Ms. Pandey holds qualifications in Company Secretary, LL.B., and B.Com.

Financial Performance Highlights

Revenue from operations rose to ₹217.36 lakh from ₹112.67 lakh in Q1FY26. Other income contributed ₹2.25 lakh, down significantly from ₹22.93 lakh in the prior year quarter. Total expenses increased to ₹185.35 lakh from ₹156.35 lakh, driven by higher finance costs of ₹14.03 lakh (up from ₹9.62 lakh QoQ but down from ₹20.12 lakh YoY) and other expenses of ₹92.37 lakh. Notably, cost of materials consumed stood at ₹59.20 lakh, while change in inventories provided a positive contribution of ₹13.25 lakh.

What the Numbers Show

The divergence between the continuing and discontinued operations reveals the strategic shift underway at Suryavanshi Spinning Mills. While the core continuing business delivered a robust pre-tax profit of ₹34.26 lakh, the discontinued spinning division incurred a loss of ₹15.91 lakh due to asset write-downs and sales losses. This indicates that the company’s profitability is increasingly dependent on its non-spinning activities or residual operations, as the spinning division—discontinued since November 2023 due to unviability—continues to drain resources through asset disposal costs. The absence of tax expense in Q1FY27, despite the profit, suggests the utilization of past loss carry-forwards or MAT credit entitlements, preserving cash flow.

Auditor’s Qualified Conclusion

The statutory auditors, K.S. Rao & Co., Chartered Accountants, issued a qualified review report on the interim financial results. The qualification arises because no provision has been made in the books of account for interest payable on outstanding unpaid statutory dues of Tax Deducted at Source (TDS), amounting to ₹2.10 lakh (including arrears of ₹1.38 lakh up to March 31, 2026). Apart from this matter, the auditors stated that nothing came to their attention to suggest the statement does not disclose required information or contains material misstatement under Regulation 33 of the SEBI (LODR) Regulations, 2015.

The company’s total reserves excluding revaluation reserves stood at a negative ₹1,345.70 lakh at the end of FY26. The Board also approved the Directors’ Report for the fiscal year ended March 31, 2026. All figures are presented in accordance with Ind AS 34 and have been reviewed by the Audit Committee.