VTM Limited shareholders overwhelmingly approved the company’s financial statements for FY26, the reappointment of Director V Kasinathan, and the ratification of cost auditor remuneration at its 79th Annual General Meeting (AGM) held on July 31, 2026. The three ordinary resolutions passed with 70,538,566 votes in favor and only four votes against, reflecting strong consensus among the promoter group and public shareholders.

The meeting was conducted via video conference and concluded at 5:50 PM. A total of 70,538,570 votes were cast out of 100,569,000 shares held by eligible voters, representing a 70.14% turnout. The voting process combined remote e-voting, which ran from July 26 to July 30, 2026 through KFin Technologies Limited, with physical voting at the AGM. S. Ramalingam, Practicing Company Secretary, served as the scrutinizer, confirming that the e-voting portal was blocked immediately after the deadline and unblocked only after the AGM concluded in the presence of two independent witnesses.

Voting Results Breakdown

The promoter and promoter group contributed 68,729,250 votes in favor across all resolutions. Public shareholders cast 1,809,316 votes in favor against four dissenting votes. Institutional holders did not participate in the voting process. The high level of support underscores the stability of the company’s governance structure and the confidence of its key stakeholders in the management’s direction for the coming year.

Key Resolutions Passed

The ordinary business included the adoption of the audited balance sheet as of March 31, 2026, along with the Profit & Loss Statement and reports of the Board and Auditors. Shareholders also approved the reappointment of V Kasinathan, who was retiring by rotation but remained eligible for the position. K Thiagarajan, Chairman and Managing Director, chaired the proceedings, which were attended by 38 members and corporate representatives.

A special resolution ratified the remuneration of ₹70,000 payable to Cost Auditor A. N. Raman for auditing cost records for FY2026-2027. This fee structure was recommended by the Audit Committee and approved by the Board of Directors, complying with Section 148 of the Companies Act, 2013, and Rule 14 of the Companies (Audit and Auditors) Rules, 2014. Independent directors M Anbukani, T N Ramanathan, and Ganesh Anathakrishnan oversaw audit, stakeholder relationship, and nomination committees respectively.

The company complied with Regulation 30 and Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, filing XBRL reports on voting outcomes alongside the scrutinizer’s report. The filing was submitted to the Bombay Stock Exchange by Company Secretary K. Preyatharine on August 3, 2026.

VTM Limited reported a 75.3% decline in Profit After Tax (PAT) to ₹1119.58 lakhs for the financial year ended March 31, 2026, despite revenue rising 7.97% to ₹37198.13 lakhs. The company attributed the significant drop in profitability to exceptional tariff burdens and adverse global trade conditions arising from geopolitical conflicts and war-related disruptions.

Revenue from operations for the year stood at ₹37198.13 lakhs, compared to ₹34452.68 lakhs in the previous year. Export turnover accounted for 61.84% of total turnover at ₹23003.63 lakhs, while domestic sales reached ₹14194.5 lakhs. The Home Textiles segment contributed ₹19197.67 lakhs to the sales turnover. The company maintained export sales at previous levels, safeguarding its market presence amidst global volatility.

Financial Performance

The company’s financial performance reflected the resilience of its diversified business model, though external headwinds impacted margins. Profit before depreciation and interest fell to ₹2934 lakhs from ₹6994 lakhs in the prior year. After accounting for depreciation of ₹1135 lakhs and an exceptional item of ₹302 lakhs, the profit before tax was ₹1496.39 lakhs. Total tax provisions for the year amounted to ₹376.35 lakhs.

Operational Highlights

During the year, the company focused on strengthening its manufacturing capabilities and operational efficiency. It installed new machinery, including 190cm ITEMA Rapier looms and PICANOL OPTIMAX looms, to meet global market requirements for leno selvedge and floral jacquard fabrics. The company also invested in safety measures, installing a fire hydrant system at a cost of ₹0.92 Cr.

On the sustainability front, the company maximised the usage of green energy, utilising windmills and solar plants with a total capacity of 6.31 MW. It produced 94.31 lakh units of green energy from its own infrastructure and purchased 32.37 lakh units from the market. Additionally, the installation of energy-efficient compressors and fans resulted in daily energy savings of 390 units.

Corporate Governance and Approvals

The Board of Directors has recommended the ratification of the Cost Auditor's remuneration. Mr. A. N. Raman has been appointed as the Cost Auditor for the financial year 2026-27 at a remuneration of ₹70000, subject to shareholder ratification. The Board also decided not to recommend any dividend for the financial year under review, prioritising ongoing expansion initiatives and long-term growth requirements.

The statutory auditors, M/s CNGSN & Associates LLP, issued an unqualified opinion on the financial statements. The company remains compliant with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the Companies Act, 2013.