The Board of Directors of the Company at their meeting held today i.e. 8th May, 2026 have fixed the date of 146th Annual General Meeting to be held on 7th August, 2026 through video conference ....
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The Board approved audited financial results for Q4 and FY 2025-26. Standalone revenue from operations declined ~9% to ₹1,460 crore from ₹1,605 crore in the previous year. Net profit for FY 2025-26 stood at ₹26.66 crore compared to ₹489.83 crore in FY 2024-25; the previous year's profit was significantly inflated by an exceptional gain of ₹552.56 crore (land sale/settlement). Finance costs reduced to ₹13.13 crore from ₹19.24 crore year-on-year. The auditors (Bansi S. Mehta & Co.) issued an unmodified (clean) opinion on both standalone and consolidated results. The Board recommended a final dividend of ₹0.40 per share (20% on ₹2 face value). The 146th AGM is scheduled for August 7, 2026 via video conference. Notably, the Board decided to abandon the Rights Issue originally announced in September 2022, disbanding the Rights Issue Committee with immediate effect. Mr. Rajesh Kumar Batra was re-appointed as Non-Executive Independent Director for a second 5-year term.
Revenue decline of ~9% reflects continued textile sector headwinds. The profit drop year-on-year is largely due to the absence of large exceptional items seen last year, not operational deterioration. The clean audit and dividend declaration are positive signals for shareholder confidence. Abandoning the rights issue suggests either sufficient cash generation or unfavorable market conditions.