Pasupati Spinning & Weaving Mills Limited, a prominent player in the textile industry, has announced significant leadership and auditing changes following its 45th Annual General Meeting (AGM) held on September 30, 2025. The shareholders approved two key appointments that are set to shape the company's governance and compliance landscape for the coming years.

Re-appointment of Managing Director

Shareholders approved the re-appointment of Ramesh Kumar Jain as Managing Director, extending his tenure for another five years, from April 1, 2025, to March 31, 2030. This decision comes as Jain approaches his 70th birthday on October 24, 2025, demonstrating the board's trust in his continued leadership.

Jain brings extensive experience to his role, with the company citing his "immense and rich business experience in the Textile Industry" as a key factor in his re-appointment. His leadership is expected to provide continuity and strategic direction to Pasupati Spinning and Weaving Mills in the coming years.

Notably, Ramesh Kumar Jain is the father of Vidit Jain, who serves as the Whole Time Director of the company, highlighting the Jain family's significant involvement in the company's management.

Appointment of New Secretarial Auditors

Shareholders also approved a change in the company's secretarial auditing. M/s. Sumit Bajaj & Associates, a peer-reviewed firm of Company Secretaries, has been appointed as the new Secretarial Auditors for a term of five consecutive years, covering the financial years from 2025-26 to 2029-30.

Sumit Bajaj & Associates is known for its specialized services in corporate laws, capital market transactions, compliance audits, corporate governance, and mergers and acquisitions. Their appointment is expected to ensure rigorous compliance and governance practices within the company.

Implications for Corporate Governance

These appointments reflect Pasupati Spinning and Weaving Mills' commitment to maintaining strong leadership and ensuring robust corporate governance. The re-appointment of an experienced Managing Director, coupled with the engagement of a reputable secretarial auditing firm, signals the company's focus on transparency and regulatory compliance.

The decisions made at the AGM were in line with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and were promptly disclosed to the BSE Ltd., where the company's shares are listed under the scrip code 503092.

As Pasupati Spinning and Weaving Mills moves forward with these appointments, stakeholders will be watching closely to see how these decisions impact the company's performance and governance in the textile industry landscape.

Pasupati Spinning & Weaving Mills Limited , a prominent player in the textile industry, has released its financial results for the first quarter alongside key board decisions.

Financial Performance

The company reported revenue from operations of Rs. 2079.00 lacs for Q1, compared to Rs. 2306.00 lacs in the same quarter last year, marking a decrease of 9.80%. Despite the revenue decline, Pasupati Spinning & Weaving Mills managed to turn a profit, reporting a net profit of Rs. 1.00 lac, a significant improvement from the loss of Rs. 18.00 lacs in the corresponding quarter of the previous year.

Segment Performance

The company operates in two segments:

1. Textiles & Textile Articles: This segment generated a revenue of Rs. 2079.00 lacs during the quarter.
2. Logistics & Warehousing Services: No revenue was reported from this segment in Q1.

Board Decisions

The Board of Directors has approved the re-appointment of Mr. Ramesh Kumar Jain as Managing Director for a period of five years, from April 1, 2025, to March 31, 2030. This decision is subject to shareholders' approval at the upcoming Annual General Meeting (AGM).

Additionally, the Board has approved remuneration for Whole Time Director Chander Mohan Sharma for the period from December 2025 to December 2027, also subject to shareholders' approval.

Annual General Meeting

The company has scheduled its 45th Annual General Meeting for September 30, 2025, to be held at the registered office in Village Kapriwas (Dharuhera), District Rewari, Haryana. In connection with the AGM, the Register of Members and Share Transfer books will remain closed from September 24, 2025, to September 30, 2025 (both days inclusive).

Pasupati Spinning & Weaving Mills continues to navigate the challenges in the textile industry, showing resilience by turning a profit despite reduced revenue. The reappointment of Mr. Ramesh Kumar Jain as Managing Director signals continuity in leadership as the company moves forward in a competitive market landscape.