Texel Industries Limited submitted the voting results and scrutinizer's report for its 37th Annual General Meeting (AGM), held on September 29, 2026. The meeting was conducted via Video Conferencing and Other Audio Visual Means.

All three ordinary resolutions proposed at the meeting were passed with 100% of the votes cast in favor. No votes were recorded against any resolution, and no invalid votes were reported by the scrutinizer.

Resolution outcomes

The shareholders approved the adoption of audited standalone and consolidated financial statements for FY26. They also approved the re-appointment of Naresh Ramniklal Mehta as a director retiring by rotation and the appointment of Rasesh Girish Shah as a Non-Executive Non-Independent Director.

Participation details

The record date for entitlement to vote was September 22, 2026. A total of 8,201 shareholders were on the register on this date. Voting was conducted entirely through remote e-voting via the Central Depository Services (India) Limited (CDSL) platform.

During the meeting itself, 34 shareholders attended through video conferencing: seven from the promoter group and 27 from the public category. However, all valid votes cast during the meeting period originated from remote e-voting prior to the meeting's commencement. No members cast votes via poll or postal ballot.

What the Numbers Show

The data reveals a significant concentration of voting power in the promoter group. Promoters and their group held 4,307,205 shares, representing approximately 30.6% of the total outstanding shares listed in the voting table (14,091,303). Despite holding only about a third of the shares, promoters cast 3,370,688 votes, which accounted for 78.9% of the total votes polled (4,272,225).

Public non-institutional shareholders held 9,784,098 shares but cast only 901,537 votes, representing just 9.2% participation relative to their holding. This disparity indicates that while the promoter group exercised nearly 78% of their eligible voting rights, public participation remained low, with less than 10% of public shares voted. The unanimous passage of all resolutions reflects this high promoter turnout rather than broad public consensus.

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.