Annual Report for the Financial Year 2024-25 of the Company under Regulation 34 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
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Awaiting price reaction for this filing.
Avax Apparels and Ornaments has submitted its Annual Report for FY 2024-25 along with the notice for its 20th Annual General Meeting to be held on 29th August 2025 at 3:30 PM via video conferencing. The company, recently listed on BSE in January 2025 (Scrip Code: 544337), operates in apparel and ornaments, and the Chairman's message highlights growth across domestic and international markets along with digital and retail expansion. The AGM notice includes resolutions for adoption of financial statements, re-appointment of statutory auditor M/s N K S C & Co. for a 5-year term till 2030, appointment of Mr. Rajat Goel as Independent Director, and re-appointment of two Whole Time Directors (Mr. Harish Kumar and Mrs. Deepika Garg) for three years with remuneration up to Rs. 30 lakh per annum each. Shareholders seeking to vote must hold shares as on the cut-off date of 22nd August 2025, with remote e-voting open from 26th to 28th August 2025. Special resolutions also seek approval to raise borrowing limits and create charges up to Rs. 20 crore each.
Routine annual compliance filing — no immediate effect on share price expected. The proposed increase in borrowing limits to Rs. 20 crore and enabling provisions for loans/investments suggest the company may seek to raise debt for expansion, which shareholders should monitor. The re-appointments of directors and auditors are standard governance matters requiring shareholder approval.