Intimation of 63rd Annual General Meeting alongwith the Notice to Shareholders and Annual Report for FY 2023-24
Awaiting price reaction for this filing.
Futura Polyesters Limited has convened its 63rd AGM on May 29, 2026 via video conferencing. The meeting will seek shareholder approval for adoption of audited financial statements for FY 2023-24 and appointment of Mr. Gautam Purohit as an Independent Director for 5 years (Special Resolution). For FY 2023-24, the company reported revenue of Rs. 12.90 Lakhs from discontinued operations and a net loss of Rs. 565.99 Lakhs (EPS: -1.03). The company has been non-operational since December 2012 and is currently disposing of land assets (170.18 acres sold out of 211.14 acres). In a major development, the company completed a One Time Settlement (OTS) of Rs. 243.45 Crores with its consortium of 8 lenders in June 2025, fully discharging secured bank dues. No dividend has been recommended due to losses.
Shareholders should note that while the company has resolved its legacy bank debt through OTS and lifted banking restrictions, it remains loss-making with suspended operations and suspended BSE trading since March 2013. The appointment of Mr. Gautam Purohit (who will turn 75 in June 2027) as Independent Director requires special shareholder approval.