Suncity Synthetics Limited has announced the approval of its unaudited financial results for the third quarter of fiscal year 2026, following a board meeting held on February 14, 2026. The company conducted the meeting in compliance with regulatory requirements under SEBI listing obligations.

Board Meeting Details

The board meeting took place at the company's registered office located at B-129 Ansa Industrial Estate, Sakinaka Andheri East, Mumbai. The meeting was convened to address regulatory compliance under Regulation 30 and 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Results Approval

The board considered and approved the unaudited financial results for the quarter and nine months ended December 31, 2025. The approval included the limited review report accompanying the financial statements, ensuring compliance with regulatory disclosure requirements.

Corporate Information

Suncity Synthetics Limited operates under CIN L17110MH1988PLC454234 and trades on BSE with code 530795. The company's Managing Director Sumita Mishra, holding DIN 00207928, digitally signed the regulatory filing on February 14, 2026.

The company maintains its registered office in Mumbai's Andheri East area and can be contacted through multiple channels including email at suncitysyntheticslimited@gmail.com and their official website. The regulatory filing demonstrates the company's commitment to maintaining transparency and compliance with stock exchange requirements for quarterly financial disclosures.

Suncity Synthetics Limited , a textile manufacturing company, held its 37th Annual General Meeting (AGM) on August 2, 2025, where shareholders approved a significant capital reduction scheme to address the company's accumulated losses.

Capital Reduction Scheme

The highlight of the AGM was the approval of a special resolution to reduce the company's share capital by 98%. This move aims to write off accumulated losses of Rs 4.86 crore as of March 31, 2024. Under the scheme:

• The company's paid-up capital will be reduced from Rs 4.95 crore to Rs 9.89 lakh.
• The number of equity shares will decrease from 49,45,800 to 98,916, maintaining a face value of Rs 10 each.
• Shareholders will receive 2 equity shares for every 100 shares held.

Rationale for Capital Reduction

The company cited several reasons for this drastic measure:

1. Losses incurred due to adverse market conditions in India and abroad.
2. Inability to scale business operations due to inadequate working capital.
3. Difficulty in raising finance from capital markets or financial institutions.
4. Need to present a more accurate financial position to potential investors and lenders.

Voting Results

The capital reduction scheme was passed with a significant majority:

Despite opposition from a majority of public shareholders, the resolution passed due to unanimous support from the promoter group, which holds a 45.46% stake in the company.

Other Key Decisions

Shareholders also approved:

1. The adoption of financial statements for the year ended March 31, 2025.
2. The reappointment of Mr. Ramesh Chandra Mishra as a director.
3. The appointment of Mr. Amarendra Mohapatra as the Secretarial Auditor for a term of up to three years.

Financial Performance

For the financial year 2024-25, Suncity Synthetics reported:

• Revenue from operations: Rs 116.93 lakh (down from Rs 200.10 lakh in FY 2023-24)
• Net loss: Rs 56.44 lakh (compared to a profit of Rs 12.85 lakh in the previous year)

Looking Ahead

With the approval of this scheme, Suncity Synthetics aims to present a more accurate financial position to stakeholders and improve its ability to secure financing for future growth. The implementation of the capital reduction is subject to the approval of the National Company Law Tribunal (NCLT) and other regulatory authorities.