Aarvee Denims Reports Q1 Results: New Management, Debt-Free Status, and Strategic Shift
Aarvee Denims & Exports announced Q1 results, reporting a profit of Rs. 2,548.08 lakhs despite revenue decline. The company achieved debt-free status by repaying all bank loans. New management, led by Mr. Jaimin Kailash Gupta as Chairman & Managing Director, took control with a 65.63% shareholding. Operations continue at the Narol unit, focusing on denim and non-denim fabric production. The company aims to leverage its debt-free status and operational capabilities for future growth in the expanding Indian textile and denim markets.
14Aug 25
Aarvee Denims Reports Profit Amid Management Change and Debt-Free Status
Aarvee Denims & Exports Limited reported a profit of Rs. 2,548.08 lakhs for the quarter ended June 30, with revenue from operations at Rs. 1,353.12 lakhs. The company underwent a management change with Mr. Jaimin Kailash Gupta and associates acquiring a 60.81% shareholding. Aarvee Denims became bank debt-free on June 3 after repaying all outstanding loans. However, the company had no production of finished goods during the quarter and wrote off assets worth Rs. 80.43 lakhs due to dismantling of building structures on sold land.
07Aug 25
Aarvee Denims Promoters Release Over 3.3 Million Pledged Shares
Multiple promoters and promoter group entities of Aarvee Denims & Exports Limited have released share encumbrances totaling more than 3.3 million shares. The pledges, previously held with BOB Capital Markets Limited, were released on July 5 due to loan repayment. Ten entities, including Twenty First Century Marketing Ltd and Shipa Fabrics Pvt Ltd, released shares ranging from 0.02% to 4.92% of the total share capital. This action does not alter the promoters' shareholding but increases their unencumbered stake, potentially offering more financial flexibility.
25Jul 25
Aarvee Denims Plans Leadership Overhaul and Name Change to Varvee Global Limited
Aarvee Denims & Exports has scheduled an EGM for August 19, 2025, to seek shareholder approval for major changes. Proposals include appointing Jaimin Kailash Gupta as Chairman and Managing Director, Tarachand Gangasahay Agrawal as Whole-time Director, re-designating Nipun Vinodkumar Arora to Non-Executive Director, and appointing Ravi Jitendra Modi as Independent Director. The company also plans to rebrand as Varvee Global Limited. These changes aim to reshape the company's future direction in the textile industry.
22Jul 25
Aarvee Denims Promoters Offload 9.1 Million Shares in Significant Stake Reduction
Aarvee Denims & Exports saw a major reduction in promoter holdings as 29 entities, including individual promoters and companies, sold 9.1 million equity shares through off-market transactions on July 9-10, 2025. Key sellers included V.B. Investment Pvt. Ltd. (2,320,900 shares), Kashvi Investments Pvt. Ltd. (1,388,200 shares), and Twenty First Century Marketing Ltd. (1,154,250 shares). The company filed necessary disclosures under SEBI regulations. Despite the sale, the total equity share capital remains unchanged at 23,459,800 shares.