Re-appointment of Sri S V Arumugam, Managing Director (DIN: 00002458) of the the Company for a term of 3 years with effect from 27.6.2026 to 26.6.2029. Appointment of Cost Auditor, Internal ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Bannari Amman Spinning Mills reported a strong turnaround with standalone profit before tax of Rs 2,366.77 lakhs for FY 2025-26 compared to a loss of Rs 270.55 lakhs in the previous year. Revenue from operations stood at Rs 87,032.40 lakhs. The Board re-appointed Sri S V Arumugam as Managing Director for 3 years from June 27, 2026 to June 26, 2029, subject to shareholder approval. New auditors appointed include Sri M Nagarajan as Cost Auditor and M/s B M & Associates as Internal Auditors for FY 2026-27. The Board recommended a dividend of Rs 0.25 per share (5% on face value of Rs 5). Additionally, 42,25,806 share warrants (Tranche I) were forfeited on May 4, 2026 due to non-payment of balance subscription. The company also completed a Rs 4,071.47 lakh rights issue last year.
Positive signals include return to profitability, strong operating cash flow of Rs 11,683.44 lakhs, and reduced borrowings. However, warrant forfeiture indicates some investors failed to complete subscription, and lower EPS reflects dilution from rights issue. Dividend payout is modest at Rs 0.25 per share.