Vardhman Polytex Limited shareholders adopted the audited financial statements for the fiscal year ended March 31, 2026, during the company's 46th Annual General Meeting held on September 24, 2026.

The meeting, conducted at Vardhman Park in Ludhiana, Punjab, also saw the re-appointment of Manju Oswal as a director, replacing her position following her retirement by rotation under the Articles of Association.

Meeting proceedings and governance

The Annual General Meeting commenced with the Company Secretary welcoming shareholders and introducing the directors. Adish Oswal, Chairman and Managing Director, presided over the session as per Article 99 of the Articles of Association.

The notice convening the AGM, dated August 10, 2026, along with the Annual Report for FY26, was circulated via email and hosted on the company website. Remote e-voting facilities were available from September 21 to September 23, 2026, alongside physical ballot voting at the venue.

Key resolutions passed

Shareholders transacted the following items of business:

• Adoption of Financial Statements: The audited financial statements for FY26, together with reports from the Auditors and Directors, were received, considered, and adopted via an ordinary resolution.
• Director Re-appointment: Manju Oswal (DIN-00009449) was appointed in place of herself, having retired by rotation and offered herself for re-appointment.
• Cost Auditor Remuneration: The remuneration for Cost Auditors for the fiscal year ending March 31, 2027, was ratified via an ordinary resolution.

Vardhman Polytex Limited has completed a partial redemption of ₹1 crore in secured, unlisted optionally convertible debentures (OCDs) held by Special Situation India Fund. The transaction, executed on September 18, 2026, reduces the outstanding principal amount while keeping the total number of debentures unchanged.

The repayment was funded using advance proceeds received from the sale of the company’s land property located at Village Mundian Khurd, Focal Point, Ludhiana, Punjab. Vardhman Polytex noted that the entire sale consideration for this asset has not yet been received.

Redemption Mechanics

The partial redemption was carried out pursuant to paragraph 2.3(c) of Schedule 1 of the OCD Subscription cum Trust Deed. This provision mandates the redemption of debentures, either in part or full, upon the monetisation of specified mortgaged properties. The action was also taken per the instructions of the Debenture Holder.

Rather than cancelling individual instruments, the company effected a pro-rata reduction in the face value of each outstanding OCD. Consequently, the aggregate principal liability decreased, but the count of active debentures remained constant.

Following this adjustment, the balance principal amount of the OCDs stands at ₹12,50,00,000. Interest and other amounts payable continue to accrue in accordance with the applicable terms of the OCD Subscription cum Trust Deed and other Transaction Documents.

What the Numbers Show

The structure of this redemption highlights a specific dependency between asset monetisation and debt servicing. By reducing the per-unit face value rather than retiring instruments, the company maintains the original capital structure's breadth while lowering the absolute liability. This approach suggests a strategic alignment with the trust deed’s mandatory redemption clauses, ensuring compliance without altering the number of outstanding securities held by the single debenture holder.

Regulatory Compliance

The disclosure was made pursuant to the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company is currently coordinating with the Debenture Trustee, the Debenture Holder, and the Registrar and Transfer Agent to complete the requisite corporate, depository, and other formalities associated with this partial redemption.