In compliance with Regulation 30 read with Part A of schedule III of SEBI(LODR)Regulations, 2015, please find enclosed the summary of the proceedings of 32nd Annual General Meeting of the ....
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Meyer Apparel held its 32nd AGM on 13th June 2025 via video conferencing, lasting about 26 minutes (12:30 PM to 12:56 PM), chaired by Mr. Pawan Kakra. All directors were present, and shareholders passed 8 resolutions, including approval of FY25 accounts, re-appointment of Mr. Pawan Kakra (Non-Executive Director) and Mr. Gajender Kumar Sharma (Whole-Time Director), appointment of Ms. Hemlata Gupta as Independent Director, increase in borrowing limits, and approval of related party transactions. The Chairman shared that gross sales turnover dropped sharply to Rs. 128.27 lakhs from Rs. 454.48 lakhs in the previous year, and the company posted a loss of Rs. 106.78 lakhs for FY25. The company is exploring new revenue streams and has undertaken cost optimization measures, including rationalizing employee costs. Auditors' reports had no qualifications.
The steep decline in revenue and continued losses are concerning for shareholders, though management's focus on cost cutting and new revenue avenues may help stabilize operations. The approval to raise borrowing limits and enter related party transactions could lead to higher debt or related party exposure, which investors should monitor closely.