Globale Tessile , a textile company, has announced the resignation of its Company Secretary and Compliance Officer, CS Dhaval Nagar. The resignation, effective from September 15, 2025, was communicated to the stock exchanges by the company's Chairman, Jeetmal B. Parekh.

Resignation Details

According to the company's filing, CS Dhaval Nagar submitted his resignation on September 4, 2025. The reason cited for his departure was the pursuit of professional growth and better career opportunities. Nagar served as a Key Managerial Person of Globale Tessile.

Regulatory Compliance

In compliance with Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, Globale Tessile promptly informed the stock exchanges about this development. The company provided the following details in its regulatory filing:

Company's Response

Chairman Jeetmal B. Parekh, in his communication to the stock exchanges, acknowledged the resignation and attached the necessary documents, including CS Dhaval Nagar's resignation letter and the required annexures as per SEBI regulations.

About Globale Tessile

Globale Tessile, with its registered office in Ahmedabad, Gujarat, is engaged in the textile industry.

Globale Tessile Limited, a textile company based in Gujarat, has reported a significant drop in revenue but a substantial increase in net profit for the first quarter, according to its latest financial results.

Sharp Revenue Decline

The company's total income from operations plummeted to ₹104.17 lakhs in the quarter, down from ₹1,873.78 lakhs in the same period last year, representing a steep 94.44% year-on-year decline. This dramatic fall in revenue highlights the challenging market conditions faced by the textile industry.

Improved Profitability

Despite the revenue setback, Globale Tessile managed to improve its bottom line significantly:

• Net profit after tax surged to ₹36.17 lakhs, compared to ₹12.97 lakhs in the corresponding quarter of the previous year, marking a 178.87% increase.
• Earnings per share (EPS) rose to ₹0.34 from ₹0.14 year-on-year, reflecting the improved profitability on a per-share basis.

Financial Highlights

Cost Management and Tax Implications

The company's ability to triple its net profit despite the sharp revenue decline suggests effective cost management strategies. However, it's worth noting that the net profit before tax decreased to ₹4.68 lakhs from ₹51.57 lakhs in the previous year, indicating that the improved after-tax profit may be partly due to tax-related factors.

Financial Position

Globale Tessile's equity share capital remained unchanged at ₹1,062.03 lakhs, providing stability to its capital structure amidst the volatile business environment.

Industry Context

The textile industry has been facing headwinds due to various factors including global economic uncertainties and changing consumer patterns. Globale Tessile's ability to maintain profitability despite a severe revenue drop may position it well for recovery as market conditions improve.

Investor Considerations

Investors may want to closely monitor Globale Tessile's future quarters to see if the company can maintain its profitability while working towards revenue recovery. The stark contrast between revenue decline and profit growth also warrants attention to understand the sustainability of this trend.

Regulatory Compliance

As per the LODR (Listing Obligations and Disclosure Requirements) data, Globale Tessile Limited has duly published its unaudited financial results for the first quarter ended June 30 in "The Indian Express" (English) and "The Financial Express" (Gujarati) on August 15, demonstrating the company's commitment to transparent communication with its stakeholders.