Please find enclosed Notice of 36th Annual General Meeting of the Company.
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Texel Industries Limited has issued the notice for its 36th Annual General Meeting scheduled for Monday, 29th September, 2025 at 12:30 p.m. IST via Video Conferencing / OAVM. The ordinary business includes adoption of audited standalone and consolidated financial statements for FY 2024-25 and the re-appointment of Mr. Shailesh Ramniklal Mehta (DIN: 01457666) as Director, who retires by rotation. Under special business, shareholders will consider a Special Resolution to re-appoint Mr. Shailesh Ramniklal Mehta as Chairman & Managing Director for three years effective 15th February 2026, with annual remuneration of Rs. 64.10 lakhs plus a performance bonus of up to 10% of net profits and annual increments of up to 25%. Another resolution seeks to appoint M/s. SPANJ & Associates as Secretarial Auditors for five consecutive years (FY 2025-26 to FY 2029-30), with first-year remuneration of Rs. 1,20,000. The company's FY 2024-25 results showed a strong turnaround with revenue rising to Rs. 11,570.83 lacs (from Rs. 9,489.35 lacs) and profit after tax of Rs. 488.51 lacs versus a previous-year loss of Rs. 841.11 lacs. Remote e-voting window opens on 25th September and closes on 28th September 2025, with the cut-off date set at 22nd September 2025.
Routine AGM notice with two notable items for shareholders: (1) re-appointment of the promoter and CMD with a defined remuneration package that includes a profit-linked bonus, and (2) appointment of new secretarial auditors for a five-year term. The AGM agenda is largely procedural and not expected to materially impact the stock price on its own, though the disclosed FY25 turnaround (return to profitability after a loss year) provides useful context for shareholders voting on the accounts.