Outcome of Board Meeting
GLOBE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board approved unaudited Q1 FY26 results (quarter ended June 30, 2025). Standalone revenue from operations rose to Rs. 12,555.91 lakhs (up ~9.4% YoY from Rs. 11,474.05 lakhs), but profit after tax fell sharply to Rs. 91.36 lakhs from Rs. 197.68 lakhs YoY, partly due to a Rs. 264.42 lakh loss on sale of old printing machinery. Consolidated revenue was Rs. 14,827.79 lakhs with PAT of Rs. 139.52 lakhs. The board also approved a change of company name to 'Globe Enterprises (India) Limited' or 'Globe Industries (India) Limited', appointed M/s. Mihir Thakkar & Associates as the new internal auditor (replacing the resigned predecessor) and M/s. Maulin Shah & Associates as cost auditor for FY26, and appointed Mr. Bharat Bhavsar as an Additional Independent Director. An amendment to the demerger scheme (transferring the online business including INDIGENX and ORIJEAN brands to Morabia Creation Limited) was also approved.
Mixed for shareholders – top-line growth is healthy, but bottom-line nearly halved YoY due to the one-time loss on machinery sale. The proposed name change and demerger of the online/digital fashion business signal a strategic shift away from pure textiles, which could reshape investor perception going forward. Short-term stock may react to the sharp PAT decline; long-term impact depends on NCLT approval of the demerger scheme.