OUT COME OF BOARD MEETING AS PER ATTACHED FILE
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 9.8 pts less than Nifty Microcap 250 and 8.4 pts less than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The board, at its meeting on February 6, 2026, approved the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, reviewed by auditor G.K. Choksi & Co. Two new non-executive independent directors — Mr. Aayush Kamleshbhai Shah and Mrs. Ankita Vivekkumar Shah — were appointed for a five-year term, subject to shareholder approval. Independent Director Mr. Anup Ramnivas Agarwal's tenure ends on February 8, 2026, leading to the reconstitution of the Audit, Nomination & Remuneration, and Stakeholders Relationship Committees, with Mrs. Ankita Shah chairing all three. The auditor's limited review report includes an Emphasis of Matter flagging that the Directorate General of GST Intelligence (DGGI), Ahmedabad Zonal Unit, conducted search operations under Section 67 of the CGST Act, 2017, and the company has deposited Rs 188.00 lakhs under protest. Management believes there will be no material impact on the company's financial position or operations.
Short-term: The Q3 results carry an Emphasis of Matter from the auditor regarding an ongoing GST investigation, which may make investors cautious until the matter is resolved. The Rs 188 lakh deposit under protest does not change day-to-day operations but remains a watch item. The board changes and committee reconstitutions are routine governance updates and unlikely to materially affect the stock.