Loyal Textile Mills Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 26, 2025
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Loyal Textile Mills held its 79th Annual General Meeting on September 26, 2025 via video conferencing, chaired by Chairperson Mrs. Valli M Ramaswami. The meeting lasted about 23 minutes (10:00 AM to 10:23 AM). Eight resolutions were transacted, including adoption of the audited standalone and consolidated financial statements for the financial year ended March 31, 2025, re-appointment of Mr. B. Vaidyanathan (retiring by rotation), re-appointment of Mr. Gokul S Dixit as Independent Director, appointment of the Secretarial Auditor, ratification of the Cost Auditor's remuneration, and approval of material related party transactions with Gruppo P&P Loyal S.P.A. Two special resolutions stood out: sale of the company's unit in Andhra Pradesh and sale of the unit in Sivaganga, Tamil Nadu, both as going undertakings. The Chairperson noted that voting results would be filed with the exchanges by September 30, 2025.
Shareholders should watch for the detailed voting results (due by September 30), especially the outcomes of the two special resolutions on selling the Andhra Pradesh and Sivaganga units, and the related party transaction with Gruppo P&P Loyal S.P.A., as these could meaningfully reshape the company's asset base and earnings going forward.