Akshar Spintex Limited held its Board of Directors meeting on January 19, 2026, at the company's registered office in Jamnagar, Gujarat. The meeting resulted in the approval of several important corporate governance matters under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Postal Ballot Notice Approval

The board approved a postal ballot notice to seek shareholder approval through remote e-voting for three special resolutions:

E-Voting Schedule and Process

The company has established a comprehensive timeline for the postal ballot process with Bigshare Services Private Limited as the e-voting agency:

Key Appointments for E-Voting Process

The board made critical appointments to facilitate the postal ballot process:

Director Profile: Mr. Bhavin Jayantibhai Kothiya

Mr. Bhavin Jayantibhai Kothiya (DIN: 11379649) is proposed for ratification as Non-Executive Independent Director for a five-year term from November 24, 2025, to November 23, 2030. His professional background includes:

• B.Sc degree holder with over 4 years of experience as Quality Inspector in pharmaceutical companies
• Expertise in market dynamics, quality assessment, and supply chain coordination
• No relationships with other directors, managers, or key managerial personnel
• Not debarred from holding directorship by any regulatory authority

Director Profile: Mr. Harry Paghadar

Mr. Harry Paghadar (DIN: 11096100), aged 28 years, is being re-proposed for appointment as Executive Director for a five-year term from February 18, 2026, to February 17, 2031. His qualifications include:

• B.Tech Engineering graduate with over 5 years of hands-on experience in the cotton industry
• Demonstrated expertise in production operations, quality control, process optimization, and machinery maintenance
• Skilled in managing end-to-end operations and improving productivity within textile environments
• Related to Executive Director Mrs. Illaben D. Paghdar
• Previous remuneration as employee: ₹6.36 lakh per annum

Proposed Remuneration Structure

The company seeks approval for Mr. Harry Paghadar's remuneration package:

Corporate Compliance

All disclosures have been made in accordance with Regulation 30 of the SEBI (LODR) Regulations, 2015. The postal ballot notice, along with explanatory statements and e-voting instructions, will be available on the company's website at https://www.aksharspintex.in/announcement.html and on Bigshare's platform at https://ivote.bigshareonline.com . The company has ensured full compliance with regulatory requirements for the postal ballot process and director appointment procedures.

Akshar Spintex Limited, a cotton yarn spinning company, has reported a significant increase in net loss for the quarter ended September 30, 2025. The company's financial performance shows a challenging period marked by revenue decline and increased losses.

Financial Highlights

Key Points

Quarterly Performance

• Widening Losses: Akshar Spintex's net loss for Q2 FY2026 increased substantially to Rs 332.79 lakhs, compared to a loss of Rs 95.65 lakhs in the same quarter of the previous year, representing a 247.92% increase in losses.
• Revenue Decline: The company's revenue from operations decreased to Rs 2,234.18 lakhs from Rs 2,319.35 lakhs year-over-year, marking a 3.67% decline.

Half-Year Performance

• For the half-year period, the company posted a net loss of Rs 441.28 lakhs against Rs 107.20 lakhs in the corresponding period last year.
• Half-year revenue increased to Rs 4,852.98 lakhs from Rs 4,397.17 lakhs.

Capital Structure

• Akshar Spintex has a paid-up equity share capital of Rs 7,874.68 lakhs.

Auditor's Concerns

The company's auditor, HB Kalaria & Associates, has raised significant concerns in their review report:

1. Fixed Assets Verification: The company failed to conduct physical verification of fixed assets during the review period and has not maintained a register of fixed assets.
2. Inventory Inspection: No inspection of inventories was carried out during the period under review.
3. Limited Assurance: Due to these issues, the auditors were unable to obtain sufficient appropriate review evidence regarding the quantities and condition of fixed assets and inventories.

Management's Response

The company's management has not provided any specific comments addressing the auditor's concerns in the available LODR data.

Outlook

The widening losses and revenue decline, coupled with the auditor's concerns, indicate significant challenges for Akshar Spintex. The company may need to address these issues promptly to improve its financial health and restore investor confidence.

Investors and stakeholders should closely monitor the company's future actions, particularly regarding the implementation of proper asset and inventory management practices, as well as strategies to improve operational performance and profitability.