Loyal Textile Mills Limited has informed the Exchange about General Updates
LOYALTEX · price
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Loyal Textile Mills' Board met on August 12, 2025 and approved three key items. First, the 79th Annual General Meeting is scheduled for September 26, 2025, to be held via video conferencing. Second, the Board appointed Messrs. A. Mohan Kumar & Associates as the new Secretarial Auditor for a five-year term covering FY 2025-26 to FY 2029-30, subject to shareholder approval. Third, the Board approved the sale of two manufacturing units — one at Menakur Village, Naidupeta in Andhra Pradesh and another at Arasanur, Sivaganga in Tamil Nadu — also subject to shareholder approval at the upcoming AGM. The board meeting ran from 1:00 PM to 7:00 PM IST.
The most significant item is the proposed sale of two manufacturing units, signalling a possible restructuring or consolidation move that could unlock asset value but also indicates contraction of the company's production footprint. The AGM and auditor appointments are routine governance matters. Shareholders should watch for further disclosures on the valuation and rationale of the unit sales before the AGM.