Promoters of Varvee Global have confirmed that no new encumbrance was created on the company's shares during the financial year ending 31-Mar-2026. The declaration, submitted pursuant to Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, covers shares held directly or indirectly by the promoter group. This disclosure ensures that any charges on shares have been previously reported to the stock exchanges.

Ashish Virendrabhai Shah submitted the annual declaration on April 2, 2026, in Ahmedabad. The filing was made on behalf of 12 individuals and three entities within the promoter group, confirming compliance with regulatory requirements regarding share pledging or encumbrance.

Entities Covered in Declaration

The declaration was submitted for the following individuals and entities classified as promoters and promoter group:

Varvee Global Limited has secured a purchase order valued at ₹120.8 million for the supply of suiting fabrics, reinforcing its position in the value-added textile market. The order, comprising nearly 9 lakh meters of fabric, is scheduled for execution over the next three months. This development enhances the company's revenue visibility and order book strength while underscoring customer confidence in its manufacturing capabilities.

Order Details

The purchase order involves the supply of suiting fabrics. The execution timeline is set at 3 months from the order date. The company confirmed that the promoter, promoter group, or group companies do not hold any interest in the entity awarding the order, and the transaction does not fall within related party transactions.

Strategic Alignment and Growth

The new order aligns with Varvee Global's strategic focus on expanding its non-denim textile business and increasing its presence in higher-value fabric categories. By leveraging continuous investments in product development and operational efficiencies, the company aims to drive sustainable growth. The receipt of this order supports the management's objective of creating long-term value for stakeholders through a diversified product portfolio.

Financial Performance Context

For FY26, Varvee Global reported a standalone revenue of ₹628 million, alongside an EBITDA of ₹53.66 million and a net profit of ₹124.49 million. The company operates with a debt-free balance sheet and holds an 'IND BB/Positive' issuer rating from India Ratings & Research. This financial foundation provides stability as the company capitalizes on emerging opportunities in the textile sector.

Management Commentary

Jaimin Kailash Gupta, Chairman & Managing Director of Varvee Global, highlighted the significance of the order win. He stated that the secured order underscores the confidence customers place in the company's product quality, manufacturing capabilities, and execution excellence. Gupta emphasized that this development strengthens the company's presence in the suiting and shirting segment and supports its strategy of expanding into higher-value textile categories.