Nagreeka Exports Limited has informed the Exchange regarding Board meeting held on August 13, 2025.
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The Board of Nagreeka Exports met on August 13, 2025 and approved the unaudited financial results for Q1 FY26 (quarter ended June 30, 2025). Revenue from operations fell sharply to Rs 9,030.55 lacs from Rs 17,145.08 lacs in the same quarter last year, a drop of around 47%. Net profit after tax stood at Rs 91.96 lacs (EPS Rs 0.29) versus Rs 137.80 lacs (EPS Rs 0.44) in Q1 FY25. The company noted that its Kolhapur spinning plant, which had suspended operations from February 21, 2025, is working towards normalcy, which explains the steep revenue dip. The Board also approved re-appointments of one Whole-time Director and two Independent Directors, proposed waiver of remuneration for two Executive Directors (Sushil and Sunil Patwari), and proposed paying remuneration above the statutory threshold to a related party, Mr. Pratyush Patwari, subject to shareholder approval. The statutory auditor issued an unqualified limited review report.
The sharp revenue decline is a concern for shareholders, though partly attributed to a temporary plant shutdown that is reportedly being restored. The related party remuneration proposal above threshold limits may attract shareholder attention at the upcoming AGM, even as the promoter family executives are forgoing their own pay.