Texel Industries reported revenue from operations of ₹100.96 crore for FY26, marking a decline from ₹121.17 crore in the previous fiscal year. The company attributed this contraction to lower sales volumes, subdued market demand, and uncertainty in international trade.

The Board of Directors approved the audited standalone and consolidated financial statements during the 37th Annual General Meeting held on September 29, 2026. The meeting was conducted via Video Conferencing and Other Audio Visual Means in compliance with regulatory guidelines.

Financial Performance Overview

The company’s profitability metrics also witnessed a downward trend compared to the prior year. EBITDA stood at ₹12.59 crore, down from ₹14.81 crore. Profit before tax was recorded at ₹3.16 crore, while profit after tax closed at ₹5.30 crore.

Strategic Priorities and Market Outlook

During his address, Chairman Shailesh R Mehta outlined the company’s immediate priorities, which include strengthening domestic and export sales channels, improving capacity utilization, enhancing collections, controlling costs, and maintaining product quality standards.

The Chairman highlighted specific growth opportunities in sectors such as water conservation, agriculture, civil engineering, and other technical-textile applications. He specifically mentioned solutions aimed at reducing evaporation losses from water-storage facilities as a key area of focus.

Governance and Resolutions Passed

The AGM transacted several items of business, including the adoption of financial statements and director appointments. All resolutions set out in the notice were passed with the requisite majority.

• Appointment of Mr. Naresh Ramniklal Mehta as Director, retiring by rotation.
• Appointment of Mr. Rasesh Girish Shah as Non-Executive Non-Independent Director.

Remote e-voting results were scrutinized by M/s. D.A. Rupawala & Associates, Chartered Accountants. The voting outcomes have been communicated to the Bombay Stock Exchange and uploaded on the company’s website.

What the Numbers Show

A divergence is visible between the top-line contraction and bottom-line stability. While revenue fell by approximately 17% and EBITDA declined by roughly 15%, the Profit After Tax of ₹5.30 crore remains significant relative to the Profit Before Tax of ₹3.16 crore. This suggests that tax adjustments or deferred tax assets contributed positively to the final net income, cushioning the impact of operational headwinds on shareholder returns.

Texel Industries has scheduled its 37th Annual General Meeting for Tuesday, September 29, 2026. The meeting will be held via video conferencing to approve financial statements for FY26 and finalize board appointments.

The company will seek shareholder approval for the reappointment of Mr. Naresh Ramniklal Mehta, who retires by rotation. Additionally, the Board recommends the appointment of Mr. Rasesh Girish Shah as a Non-Executive Non-Independent Director.

Board Appointments

Mr. Rasesh Girish Shah was appointed as an Additional Director on August 13, 2026. His formal appointment requires shareholder approval at the AGM. He brings over 20 years of experience in the geosynthetics sector, with a focus on infrastructure and government projects.

Mr. Shah holds an MBA from Gujarat University. He has previously facilitated pilot projects for water harvesting in Gujarat, aligning with the company’s geosynthetics business focus.

Meeting Logistics

The AGM will commence at 12:30 pm IST. Members holding shares as of the cut-off date, September 22, 2026, are eligible to vote. Remote e-voting will open on September 25, 2026, and close on September 28, 2026.

The Company Secretary, Shubham Kiran Shah, confirmed that physical attendance is not required. Proxy appointments are not available for this virtual meeting.