Meyer Apparel Limited has informed the BSE that 32nd Annual General Meeting (AGM) of the Company was held on Friday, 13th June 2025.
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Meyer Apparel Limited held its 32nd Annual General Meeting on 13th June 2025 via video conferencing, chaired by Mr. Pawan Kakra. The meeting lasted about 26 minutes (12:30 PM to 12:56 PM). The Chairman disclosed that gross sales turnover fell sharply to Rs. 128.27 lakhs in FY25 from Rs. 454.48 lakhs in the previous year, and the company posted a loss of Rs. 106.78 lakhs. The company is exploring new revenue avenues beyond garment retailing and has undertaken cost-cutting measures. Shareholders approved ordinary items including adoption of FY25 accounts and re-appointment of Mr. Pawan Kakra, along with special resolutions covering re-appointment of Whole-Time Director Mr. Gajender Kumar Sharma, appointment of Ms. Hemlata Gupta as Independent Director, a new Secretarial Auditor for five years, higher borrowing limits, loans from promoters/directors, and related party transactions.
The steep revenue decline (around 72% year-on-year) and losses signal ongoing business stress, while shareholder approvals for higher borrowings and promoter loans suggest the company may need additional financial support. For shareholders, this is a watch-out signal, though the lack of audit qualifications and cost-cutting efforts indicate management is actively addressing the downturn.