Vardhman Polytex Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on August 28, 2025 along with Annual Report 2025
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Vardhman Polytex has notified the exchanges about its 45th AGM scheduled for Thursday, 28th August 2025 at 11:00 AM at its registered office in Ludhiana, along with the Annual Report for FY 2024-25. Key items on the agenda include adopting the audited financial statements, reappointing director Suresh Kumar Banka (who retires by rotation), appointing new statutory auditors M/s Navneet Sehgal & Co. for a 5-year term at Rs. 9 lakh per year (replacing M/s Romesh K. Agarwal & Associates), ratifying cost auditor remuneration, appointing M/s Harshit Arora & Associates as secretarial auditors, and reappointing Adish Oswal as Managing Director for 3 years at Rs. 30 lakh per month. The company's FY25 financials show revenue dropping sharply to Rs. 284.98 crore from Rs. 370.64 crore in FY24, though it swung to a Rs. 14.92 crore profit after a loss in the previous year. The Chairman's letter highlights that the Bathinda and Ludhiana manufacturing units were shut during the year due to unviable operations, and the company is now exploring monetization of the real estate assets at both locations to ease liquidity pressure. E-voting will be open from 25th to 27th August 2025 through CDSL.
While this is primarily a procedural AGM notice, the accompanying Annual Report reveals serious operational stress — revenue has more than halved over three years (from Rs. 615 crore in FY23 to Rs. 285 crore in FY25) and two factories have been shut down. Shareholders should watch the real estate monetization plan closely, as selling the Bathinda and Ludhiana land parcels is central to the company's liquidity and turnaround story. The MD's reappointment at full Rs. 30 lakh per month salary (despite having voluntarily taken a 50% cut from July 2024) and the 5-year auditor appointments will also be put to shareholder vote.