Varvee Global Ltd (formerly known as Aarvee Denims and Exports Ltd) announced the outcomes of its Board of Directors meeting held on February 18, 2026, where key governance decisions were approved to modernize the company's regulatory framework.

Board Meeting Decisions

The board meeting, which commenced at 1:30 PM and concluded at 1:50 PM, resulted in three significant approvals:

Rationale for Articles of Association Update

The company's decision to adopt new Articles of Association stems from recent changes in control and management. The new leadership conducted a comprehensive review of the existing AOA and identified several areas requiring modernization.

Key factors driving the change include:

• Outdated provisions: Certain clauses in the current AOA are no longer relevant in the present business context
• Regulatory alignment: Need to comply with evolving requirements under the Companies Act, 2013
• SEBI compliance: Alignment with amendments to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
• Business flexibility: Introduction of greater flexibility and clarity in the governance framework

Shareholder Approval Process

The board approved the postal ballot notice to obtain necessary shareholder approval for the proposed changes. Mr. Tapan Shah, a practicing Company Secretary, has been appointed as scrutinizer to ensure the voting and remote e-voting process is conducted in a fair and transparent manner.

Regulatory Compliance

The announcement was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has submitted the board meeting outcomes to both BSE Ltd and National Stock Exchange of India Ltd, maintaining transparency with stakeholders and regulatory authorities.

The comprehensive new Articles of Association will be adopted in substitution of and to the exclusion of the existing AOA, subject to shareholder approval through the postal ballot process.

Varvee Global Limited announced the release of its comprehensive investor presentation for Q3FY26 and nine months ended December 31, 2025, pursuant to Regulation 30 of SEBI Listing Regulations. The presentation showcases the company's strategic transformation from operational turnaround to high-velocity growth phase, highlighting sector-leading margins and fortified capital structure.

Strong Financial Performance Across Key Metrics

The company delivered impressive financial results with significant improvements across all major parameters:

Regulatory Compliance and Presentation Details

The investor presentation was submitted to BSE Limited and National Stock Exchange of India Limited on February 16, 2026, in compliance with regulatory requirements. Company Secretary Abira Mansuri confirmed the presentation's availability on the company website at www.varveeglobal.com , ensuring transparent communication with stakeholders.

Strategic Portfolio Transformation and Capacity Expansion

The presentation highlighted the company's deliberate shift from legacy denim toward value-added Non-Denim Shirtings and Suitings, resulting in substantial margin improvements. The 9M gross margin of 84.49% represents a complete turnaround from negative margins in the prior year, demonstrating superior unit economics of the new product mix.

Management Vision and Market Positioning

Chairman & Managing Director Mr. Jaimin Gupta emphasized that the results reflect a fundamental turnaround in VGL's earning capability, with 9M gross margins of 84.5% and positive 9M EBITDA proving the success of the premium non-denim fabric strategy. The management remains committed to compounding free cash flow and maintaining a debt-free balance sheet while capturing expanding opportunities in the Indian textile market.

The company operates primarily from its Narol facility in Ahmedabad, delivering end-to-end in-house capabilities from yarn production to finishing. With the Indian textile market projected to reach USD 250 billion by 2030-31, Varvee Global is positioning itself to capture high-margin demand through its expanded production capacity and strategic focus on value-added fabrics.