Starlineps enterprises Limited has announced a significant write-off of Rs 529.36 lacs from its Capital Work-in-progress, as disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was made to BSE Limited on February 12, 2026.

Board Approval and Regulatory Compliance

The write-off decision was formally approved by the company's Board of Directors during their meeting held on Thursday, February 12, 2026. The decision came following a recommendation from the Audit Committee, ensuring proper governance protocols were followed for this material disclosure.

Financial Impact

The amount of Rs 529.36 lacs was initially capitalized and recorded against Capital Work-in-progress in the company's books of accounts. This write-off represents a significant adjustment to the company's capital expenditure accounting, moving the amount from the balance sheet as it will no longer be considered as work-in-progress assets.

Corporate Governance

The disclosure demonstrates the company's adherence to regulatory requirements under SEBI Listing Regulations. Company Secretary and Compliance Officer Madhuriben Chhatrola, holding ACS certification 74197, signed the regulatory filing ensuring compliance with stock exchange notification requirements.

Company Information

Starlineps Enterprises Limited operates under CIN L46909GJ2011PLC065141 with its registered office located at Office No. 805, Solaris Bay View, Near Iscon Mall, Piplod, Surat-395007, Gujarat. The company trades on BSE under scrip code 540492.

StarlinePS Enterprises Limited's board of directors has approved a comprehensive capital restructuring plan during their meeting held on January 24, 2026. The Gujarat-based company announced several significant corporate actions that require shareholder approval through an extraordinary general meeting.

Capital Structure Enhancement

The board approved increasing the company's authorized share capital substantially to support future growth initiatives:

This increase of Rs. 40,00,00,000 in authorized capital will require amendment to Clause V of the company's Memorandum of Association, subject to shareholder approval at the upcoming extraordinary general meeting.

Preferential Allotment of Equity Shares

The company plans to raise Rs. 42,00,00,000 through preferential allotment of equity shares to non-promoter investors:

The allotment will be made in dematerialized form on preferential basis, complying with Chapter V of SEBI ICDR Regulations. The relevant date for determining floor price has been fixed as January 23, 2025.

Convertible Warrants Issuance

In addition to equity shares, the board approved issuance of convertible warrants worth Rs. 288,00,00,000:

These warrants will be issued to both promoters and non-promoters, with the largest allocation of 21,51,48,076 warrants going to promoter Dhirajbhai Vaghjibhai Koradiya, valued at Rs. 1,29,08,88,456.

Business Expansion Initiative

The board approved alteration of the company's main object clause to expand into fashion and lifestyle products. The new sub-clause will enable the company to engage in manufacturing, trading, and distribution of:

• Clothes, apparels, garments, and fashion materials
• Leather goods and accessories
• Jewelry and footwear
• Beauty products and lifestyle accessories
• Men's, women's, and children's clothing

This diversification aligns with the company's growth strategy and capital raising initiatives.

Corporate Governance and Timeline

The extraordinary general meeting has been scheduled for February 24, 2026, at 1:00 p.m. through video conferencing. Key dates for the approval process include:

Post allotment, the promoter and non-promoter shareholding is expected to stand at 39.12% and 60.88% respectively. The board meeting, which commenced at 1:00 p.m. and concluded at 6:00 p.m., demonstrates the company's commitment to transparent governance and strategic growth planning.