Swaraj Suiting held a board meeting on September 6, 2026, to approve the details of its 23rd Annual General Meeting and recommend the appointment of two new independent directors. The company also finalized its Board’s Report and Corporate Governance Report for FY26.

The board fixed September 30, 2026, as the date for the AGM, which will be conducted through Video Conferencing or Other Audio Visual Means (OAVM). The meeting is scheduled to begin at 1:00 pm. Shareholders holding shares as of the cut-off date, September 23, 2026, will be eligible to participate in remote e-voting and cast their votes at the meeting.

Director Appointments

The board recommended the re-appointment of Mrs. Amreen Sheikh as a Non-Executive Independent Director for a second term of five years. Her tenure is set to commence on October 5, 2026, and end on October 4, 2031, subject to shareholder approval via a Special Resolution. Mrs. Sheikh holds B.Com and M.Com degrees and is a qualified Company Secretary with expertise in compliance and corporate governance.

Additionally, the board recommended the appointment of Mr. Manoj Mansinghka as a Non-Executive Independent Director for a five-year term starting October 1, 2026. Mr. Mansinghka brings over 28 years of experience in the textile industry, particularly in weaving and spinning segments. He is the Founder and Promoter of Sharda Syncotex Private Limited, recognized as a One Star Export House by the DGFT.

Both appointments are subject to the approval of members at the ensuing AGM. The company confirmed that neither director is debarred from holding office by SEBI or any other authority.

AGM Logistics

Mr. Sanjay Somani, proprietor of Sanjay Somani & Associates, has been appointed as the Scrutinizer for the e-voting process. This role ensures the voting procedure remains fair and transparent in accordance with applicable laws and regulations.

Swaraj Suiting Limited reported a 58% increase in net profit to ₹52.37 crore for the financial year ended March 31, 2026, compared to ₹33.15 crore in the previous year. This growth was driven by a 38.5% rise in revenue from operations, which reached ₹576.74 crore from ₹416.57 crore in FY25. The company also announced a strategic investment of approximately ₹4,200 crore towards expanding its spinning business and entering the advanced materials segment. The Board of Directors approved the audited financial results at a meeting held on May 26, 2026.

Financial Performance

Total expenses for FY26 increased to ₹518.13 crore from ₹373.94 crore in the prior year. The profit before tax for the year stood at ₹67.12 crore, up from ₹44.43 crore in FY25. Earnings per share (EPS) for the year improved to ₹23.41 basic and ₹22.87 diluted from ₹15.13 in the previous year. The EBITDA margin improved to 19.3% in FY26 from 17.5% in FY25, while the adjusted PAT margin improved to 9.1%.

Strategic Expansion Plans

Swaraj Suiting outlined a major expansion of its spinning operations with an investment of approximately ₹4,200 crore. The project includes expanding the Open-End Spinning (Rotor) Section with a proposed capacity of 18,000 TPA and the Cotton Spinning Division with 12,254 TPA. Additionally, the company announced a pilot project for an Advanced Material Division with a proposed capacity of 1,246 TPA to cater to high-performance yarn segments for industries such as defence, infrastructure, oil & gas, and industrial applications. The company expects the expansion to become operational within approximately 12 months.

Capital Structure and Fundraising

During FY26, Swaraj Suiting undertook significant capital raising activities. The company allotted 33,71,400 equity shares of face value ₹10 each at ₹236 per share, including a premium of ₹226, on a preferential basis. This issue raised ₹79.57 crore. Additionally, the company allotted 62,25,500 convertible warrants at ₹236 per warrant, receiving 25% upfront. Of these, 9,20,500 warrants have been converted into equity shares upon receipt of the balance consideration. The total fund raise amounted to ₹2,264.9 crore. The paid-up equity share capital increased to ₹2,631.02 lakh as of March 31, 2026.

Consolidated Results and Assets

On a consolidated basis, the company reported a net profit of ₹54.02 crore for FY26, up from ₹33.48 crore in the previous year. The results include the share of net profit from its associate, Modway Suiting Private Limited, in which Swaraj Suiting holds a 41.06% stake. Total assets grew to ₹8,579.36 crore as of March 31, 2026, compared to ₹5,710.67 crore a year ago, primarily due to increases in inventories and capital work in progress.