Alok Industries Limited, a prominent player in the textile industry, held its 38th Annual General Meeting (AGM) on September 4, 2025, marking significant changes in its leadership and compliance structure. The company made key decisions regarding its auditors and board composition, demonstrating its commitment to corporate governance and regulatory compliance.

New Auditors Appointed

In a notable change, Alok Industries has appointed M/s Chaturvedi & Shah LLP, Chartered Accountants, as its new statutory auditors. This appointment, approved by the shareholders, is for a term of five consecutive years, commencing from the conclusion of the 38th AGM until the end of the 43rd AGM. Chaturvedi & Shah LLP, a Mumbai-based firm established in 1967, brings extensive experience in serving large corporates across various sectors. They replace S R B C & CO LLP, whose term concluded at this AGM.

Re-appointment of Independent Directors

The AGM also saw the re-election of three independent directors for second terms of five years each, effective from September 14, 2025:

1. Shri Achuthan Siddharth (DIN: 00016278)
2. Ms. Mumtaz Bandukwala (DIN: 07129301)
3. Shri Rahul Dutt (DIN: 08872616)

These re-appointments underscore the company's focus on maintaining a strong and experienced board. Each director brings unique expertise to the table:

• Shri Achuthan Siddharth, a fellow member of the Institute of Chartered Accountants of India, has over four decades of experience with Deloitte Haskins & Sells, specializing in audit services across various industries.
• Ms. Mumtaz Bandukwala, a practicing solicitor for 33 years, brings extensive legal expertise, particularly in company and securities laws.
• Shri Rahul Dutt, a legal professional with international qualifications, has been recognized for his expertise in corporate mergers and acquisitions.

Other Key Decisions

The AGM also approved the appointment of Shri Virendra Bhatt as the Secretarial Auditor for a term of five consecutive financial years, from 2025-26 to 2029-30. Additionally, the company adopted a new set of Articles of Association to align with the Companies Act, 2013.

Shareholder Approval and Voting Results

All resolutions presented at the AGM, including the financial statements for the year ended March 31, 2025, were passed with the requisite majority. The meeting, conducted through video conferencing in compliance with regulatory guidelines, saw active participation from shareholders.

These developments at Alok Industries reflect the company's ongoing efforts to strengthen its governance structure and ensure compliance with evolving regulatory standards. The mix of new appointments and re-elections suggests a balance between continuity and fresh perspectives in the company's leadership.

Alok Industries Limited, a prominent player in the textile industry, has released its financial results for the first quarter of the fiscal year. The company's performance shows a mixed picture, with some improvements in profitability metrics despite a decline in revenue.

Financial Highlights

Performance Analysis

The company's financial results reflect a challenging operating environment, with revenue pressures evident in the 7% year-over-year decline. However, Alok Industries has shown resilience in maintaining its EBITDA levels and improving its EBITDA margin, albeit marginally.

The most notable improvement comes in the form of a reduced net loss, which narrowed by approximately ₹400.00 million compared to the same quarter last year. This reduction in losses, despite lower revenues, suggests that the company's cost management and operational efficiency initiatives may be yielding positive results.

Management Commentary

While specific management comments were not provided in the financial release, the stable EBITDA and improved EBITDA margin in the face of revenue decline indicate that the company may be focusing on operational efficiency and cost control measures to mitigate the impact of challenging market conditions.

Conclusion

Alok Industries' Q1 results present a picture of a company navigating through a tough business landscape. While the revenue decline is a concern, the stability in EBITDA and the narrowing of net losses provide some positive signals. Stakeholders will likely be watching closely to see if the company can build on these improvements in the coming quarters, particularly in terms of reviving top-line growth while maintaining the momentum in profitability metrics.

The company's ability to manage costs and improve operational efficiency will be crucial in the current economic environment. As Alok Industries continues to implement its strategic initiatives, future quarters will be important in determining the effectiveness of these measures in driving sustainable financial performance.

Note: The financial results were reviewed by the Audit Committee and approved by the Board of Directors of Alok Industries Limited on July 17, as per the company's regulatory filing.