Alstone Textiles Reports Strong Q1 Profit, Appoints New Directors
Alstone Textiles (India) Limited reported a net profit of Rs 175.34 crore for Q1, with total income at Rs 177.58 crore. The board appointed Mr. Sanjay Tulsidas Bhanushali and Mr. Asutosh Arun Sahu as Additional Non-Executive & Independent Directors. The 40th AGM is scheduled for August 29. M/s Parul Agrawal & Associates and Mr. Anil Prakash were appointed as Secretarial and Internal Auditors respectively. The company maintains a paid-up equity share capital of Rs 62,748.00 crore.
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Alstone Textiles (India) Limited has reported a robust financial performance for the first quarter, alongside several key board decisions including new director appointments.
Financial Highlights
The company posted a net profit of Rs 175.34 crore for the quarter, compared to Rs 255.24 crore in the corresponding quarter of the previous year. While this represents a year-on-year decline, it marks a significant improvement from the previous quarter's profit of Rs 46.45 crore.
Total income for Q1 stood at Rs 177.58 crore, with other income contributing the bulk at Rs 177.54 crore. Expenses remained well-controlled at Rs 2.25 crore, resulting in a healthy profit margin.
Board Meeting Outcomes
In a board meeting held on August 5, Alstone Textiles made several important decisions:
New Director Appointments: The board appointed Mr. Sanjay Tulsidas Bhanushali and Mr. Asutosh Arun Sahu as Additional Non-Executive & Independent Directors, effective August 5. Both appointments are subject to shareholder approval at the upcoming Annual General Meeting (AGM).
AGM Date: The company's 40th AGM is scheduled for August 29, to be held virtually at 1:00 PM.
Auditor Appointments:
- M/s Parul Agrawal & Associates were appointed as Secretarial Auditors for the financial year.
- Mr. Anil Prakash was appointed as Internal Auditor for a term of 5 years.
Financial Results: The board approved the unaudited financial results for the quarter.
Director Profiles
Mr. Sanjay Tulsidas Bhanushali, born in 1995, is a commerce graduate with experience as an Account Executive in the automobile sector. Mr. Asutosh Arun Sahu, born in 2000, holds an MBA in Finance and brings expertise in accounting and Indian Accounting Standards.
Both new directors will initially serve for up to three months, followed by a 5-year term subject to shareholder approval at the AGM.
Alstone Textiles continues to maintain a strong financial position with a paid-up equity share capital of Rs 62,748.00 crore. The company's strategic appointments and solid quarterly performance indicate its focus on strengthening governance and maintaining financial growth.
Historical Stock Returns for Alstone Textiles
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -16.25% | +13.56% | +21.82% | +13.56% | -10.67% | +318.75% |
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