Bannari Amman Spinning Mills Limited has successfully appointed Sri R Shanmugavelayutham as an Independent Director through a postal ballot process that concluded on December 18, 2025. The appointment was approved through a special resolution with overwhelming shareholder support, receiving 99.92% approval.

Postal Ballot Results

The postal ballot process was conducted entirely through remote e-voting, with the last date for voting being December 18, 2025. The resolution received strong endorsement from shareholders with significant participation from public non-institutional investors.

The voting was conducted exclusively through electronic means as per regulatory guidelines, with no physical postal ballot forms required under the current MCA circulars.

Director Appointment Details

Sri R Shanmugavelayutham, bearing Director Identification Number (DIN) 01205640, has been appointed as an Independent Director of the company. The appointment follows the regulatory requirements under the Companies Act, 2013 and SEBI listing regulations.

Regulatory Compliance

The company informed both National Stock Exchange of India Limited and BSE Limited about the postal ballot results on December 19, 2025. The communication was made pursuant to Regulation 30 and 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The postal ballot process was conducted in accordance with Section 108 of the Companies Act, 2013 read with Rule 20 of the Companies (Management and Administration) Rules, 2014. R Dhanasekaran, Company Secretary in Practice (FCS 7070), served as the scrutinizer for the postal ballot process and issued the scrutinizer's report on December 18, 2025.

Company Information

Bannari Amman Spinning Mills Limited operates with its registered office at 252, Mettupalayam Road, Coimbatore-641043, Tamil Nadu. The company has ISIN code INE186H01022 and CIN L17111TZ1989PLC002476. N Krishnaraj serves as the Company Secretary and signed the regulatory filings digitally on December 19, 2025.

Bannari Amman Spinning Mills Limited, a prominent player in the textile industry, has reported a significant turnaround in its financial performance for the first quarter. The company's strategic initiatives and cost management efforts have yielded positive results, marking a return to profitability.

Financial Highlights

• Profit After Tax (PAT): Rs 5.03 crore, compared to a loss of Rs 32.30 crore in the same quarter of the previous year
• Revenue: Rs 217.39 crore, a marginal increase of 0.7% year-over-year
• EBITDA Margin: Improved to 11.1% from 6.9% in the previous year

Key Developments

Successful Rights Issue

The company completed a rights issue, raising Rs 407.15 crore through the allotment of 1,50,79,504 equity shares at Rs 27 per share. This capital infusion is expected to strengthen the company's financial position and support future growth initiatives.

Cost Management

Bannari Amman Spinning Mills demonstrated effective cost control measures:

• Material costs declined by 21.2%
• Finance costs reduced by 8.7%

Solar Power Project

The Board of Directors has approved a 9.74 MW solar power project, with commissioning expected by October 2025. The company has already paid Rs 16 crore as an advance towards the project cost, highlighting its commitment to sustainable energy practices.

Asset Divestment

Bannari Amman Spinning Mills is in the process of selling its garment unit at Palladam and land at SIPCOT, Perundurai. The sale is pending lender approvals, and once completed, it may further optimize the company's asset portfolio.

Financial Table

The company's return to profitability, coupled with strategic initiatives such as the rights issue and the upcoming solar power project, signals a positive outlook for Bannari Amman Spinning Mills. The management's focus on cost optimization and sustainable practices appears to be yielding favorable results, positioning the company for potential growth in the coming quarters.