Avax Apparels and Ornaments Limited has reported a significant increase in its financial performance for the half-year ended September 30, along with plans for expansion. The company, known for its knitted clothes and ornaments, has shown robust growth in both revenue and profitability.

Financial Highlights

The company's financial results for the half-year ended September 30 reveal:

Avax Apparels and Ornaments Limited's knitted clothes segment emerged as the primary revenue driver, contributing ₹2,015.92 lacs, while the ornaments segment added ₹4.45 lacs to the total revenue.

Expansion Plans

The Board of Directors has approved the establishment of a new factory unit in Ludhiana, Punjab. The new facility will be located at Jain Shawls Wali Gali, E14/1895, Bahadar Ka Road, Karabara Main Road, Wine Shop, Thapar Nagar, Ludhiana, Punjab, 141008.

Key points of the expansion:

• Estimated capital investment: Up to ₹5 crore
• Purpose: To expand manufacturing operations and meet future production requirements

Other Corporate Actions

The company has decided to relocate its books of accounts from 2209 G/1, St. No.1, Bhola Colony, Ludhiana, Punjab 141010 to the address of the new factory unit. This change aims to streamline accounting processes and improve operational efficiency.

Three directors - Managing Director Harinderpal Singh Sodhi, Whole Time Director Deepika Garg, and Executive Director Deepak Kumar - have been authorized to handle the necessary actions for both the new factory setup and the relocation of books of accounts.

Market Outlook

As Avax Apparels and Ornaments Limited continues to expand its operations and improve its financial performance, it appears to be positioning itself for growth in the apparel and ornaments sector.

Avax Apparels and Ornaments , a prominent player in the apparel and ornaments sector, has announced significant changes to its board composition and key committees, effective October 15, 2025. The company has appointed two new directors and reconstituted its Audit and Nomination and Remuneration Committees, subject to shareholder approval at the upcoming General Meeting.

New Director Appointments

AVAX Ltd has made two strategic appointments to its board:

1. Ms. Shruti Shri Agnihotri (DIN-11323825) joins as a Non-Executive Independent Director for a five-year term until October 14, 2030. Ms. Agnihotri brings a wealth of experience in corporate governance and compliance, with over 9 years of diverse experience across reputed organizations.

2. Mr. Deepak Kumar (DIN-08267845) has been appointed as an Executive Director and Whole Time Director for a three-year term until October 14, 2028. Mr. Kumar, with his extensive background in finance and regulatory affairs, is expected to contribute significantly to the company's strategic direction.

Director Profiles

Committee Restructuring

Following these appointments, AVAX Ltd has restructured its key committees:

Audit Committee

Nomination and Remuneration Committee

These changes come in the wake of resignations from previous board members, including Mr. Amitabh Agrawal and Mr. Harish Kumar. Notably, Mr. Deepak Kumar is married to Ms. Deepika Garg, who serves as a Whole Time Director of AVAX Ltd.

The company's board meeting, which concluded at 1:45 PM IST on October 15, 2025, also addressed other agenda items. These appointments and restructurings are part of AVAX Ltd's ongoing efforts to strengthen its corporate governance and align with regulatory requirements.

Investors and stakeholders will be keenly watching how these new appointments and restructured committees will contribute to AVAX Ltd's future growth and corporate governance practices.