Laxmi Cotspin Limited has informed the Exchange regarding Resignation of Vijaykumar Jainarayan Zanwer as Non- Executive Independent Director of the company w.e.f. August 07, 2025.
LAXMICOT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Laxmi Cotspin's board met on August 7, 2025 and approved several major decisions. Two Independent Directors, Vijaykumar Jainarayan Zanwer and Ketan Shankarlal Shah, resigned citing pre-occupation, while two new Independent Directors, Gaurav Ramnivas Karwa and Vivek Mohanlal Maniyar, were appointed for 5-year terms. The board also approved Q1 FY26 standalone results showing total income of Rs. 5,059.34 lakhs and net profit of Rs. 130.48 lakhs (vs. a Rs. 348.70 lakh loss in Q1 FY25). The Nomination & Remuneration Committee was reconstituted following the changes. Additionally, the board approved diversifying into garments and bleached cotton, and replacing the old spinning unit with new machinery and technology to boost efficiency and cut costs.
The simultaneous exit of two independent directors raises a minor governance flag, but the company has already filled both seats, so board composition remains compliant. The Q1 turnaround to profit and expansion into higher-value segments like garments signal potential growth, though investors should watch execution of the capex and diversification plans.