Vardhman Acrylics Limited has informed the Exchange regarding Notice of Postal Ballot
VARDHACRLC · price
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Vardhman Acrylics Limited is seeking shareholder approval via postal ballot for related party transactions with Vardhman Textiles Limited (VTXL), its holding company owning 70.74% stake. The proposed transactions for FY 2026-27 total Rs. 177 crore, primarily comprising sale of acrylic fibre worth Rs. 173 crore. This represents a significant increase from Rs. 114.54 crore in FY 2025-26, largely due to rising Acrylonitrile prices caused by the Israel-Iran conflict. VTXL is a major customer accounting for approximately 30% of the company's acrylic fibre production. The transactions will be conducted at prevailing market prices on an arm's length basis.
Shareholders should note that these transactions represent 55-56% of the company's annual turnover, making them material related party transactions requiring SEBI-mandated approval. The voting period runs from May 28 to June 26, 2026.