Acrow India Reports Q1 Results, Board Approves Key Leadership Re-appointments

Acrow India Limited , a manufacturer of cotton yarn and engineering goods, has released its financial results for the first quarter and announced significant board decisions, including key leadership re-appointments.

Financial Performance

For the quarter ended June 30, Acrow India reported:

• Revenue from operations: Rs 323.82 lakhs
• Net profit: Rs 8.79 lakhs
• Basic earnings per share: Rs 1.37

The company's performance shows an improvement compared to the previous quarter, which ended March 31, where it reported a loss of Rs 27.27 lakhs.

Board Approvals and Re-appointments

In a board meeting held on August 11, Acrow India's directors made several important decisions:

1. Financial Results: The board approved the unaudited financial results for Q1.

2. Annual Report: The directors approved the annual report for the financial year ending March 31.

3. Annual General Meeting: The board decided to conduct the company's 65th Annual General Meeting (AGM).

4. Key Leadership Re-appointments: Subject to shareholder approval, the board approved the following re-appointments:

   • Mr. Gopal Agrawal as Managing Director for a term of three years, up to December 18, 2028
   • Mr. Shyam Agrawal as Whole-Time Director for a term of three years, up to December 18, 2028
   • Mr. Sanjay Trilokchand Agrawal as Whole-Time Director for a term of three years, up to May 21, 2029

5. AGM Preparations: The board approved the closure of the Register of Members and Share Transfer Books to determine the record date for the 65th AGM.

6. Appointment of Scrutinizer: Mr. Kiran Doshi, a Practicing Company Secretary, was appointed as the Scrutinizer for the upcoming AGM.

Management Commentary

Gopal Agrawal, Managing Director of Acrow India, commented on the results, saying, "We are pleased to see a return to profitability this quarter. Our focus on operational efficiency and strategic initiatives has begun to yield positive results. We remain committed to delivering value to our shareholders and look forward to continued growth in the coming quarters."

The re-appointment of key leadership positions signals the company's commitment to maintaining stability and continuity in its management team. The expertise and experience of the re-appointed directors are expected to guide Acrow India through its next phase of growth and development.

The 65th Annual General Meeting of Acrow India Limited will provide an opportunity for shareholders to engage with the management and vote on key resolutions, including the re-appointment of directors.