Angel Fibers Ltd Holds 13th Annual General Meeting; Reviews FY2025-26 Performance and Approves Key Resolutions
Angel Fibers Ltd held its 13th Annual General Meeting (AGM) on Saturday, August 22, 2026, at the company's registered office in Jamnagar, Gujarat. The meeting, which commenced at 11:00 A.M. and concluded at 11:45 A.M., focused on reviewing the company's performance for the Financial Year 2025-26 and addressing several key corporate resolutions.The AGM was attended by several directors, including Mr. Pankajbhai Becharbhai Bhimani, Mr. Rohankumar Raiyani, Mr. Jitendrabhai Gopalbhai Raiyani, Mr. Hiteshkumar Chhaganbhai Chaniyara, and Ms. Reena Jayantilal Kanabar.
Mr. Pankajbhai Becharbhai Bhimani provided a detailed presentation on the company's performance for FY 2025-26, addressing the decrease in profit compared to the previous year. He also provided an overview of the company’s current financial health, expressing optimism regarding future growth and an upward trend in the business. Following this, Mr. Rohankumar Jitendra Raiyani, Managing Director, shared the primary factors contributing to the decline in the company's profitability during the reporting year.
Since the Chief Financial Officer was absent, Ms. Reena Kanabar reported the financial performance of Angel Fibers Limited for the Financial Year 2025-26.
Governance and Audit Review
The Statutory Auditor's Report for FY 2025-26 was taken as read, with no qualifications or observations noted. The Secretarial Audit Report was also reviewed, and the Notice convening the AGM, the Board of Directors' Report, and the Accounts for the Financial Year ended March 31, 2026, were taken as read by the members, as they had been previously distributed.The Board of Directors appointed M/s. SCS and Co LLP as the Scrutinizer to scrutinize votes cast during the meeting, including those cast through the National Securities Depository Limited's remote e-voting platform.
Key AGM Resolutions and Business
The meeting addressed several significant items laid out in the notice convening the 13th AGM. The resolutions covered the adoption of financial statements, approvals for related party transactions, and director reappointments.The agenda items presented at the AGM were as follows:
| Sr. No. | Business | Type of Resolution |
|---|---|---|
| 1. | To Receive, Consider and adopt the audited financial statements for the Financial Year ended on 31st March, 2026, together with the directors and auditors report | Ordinary Resolution |
| 2. | To reappoint Mr. Pankaj Becharbhai Bhimani, who retires by Rotation and is eligible for re-appointment | Ordinary Resolution |
| 3. | Approval of the material Related Party Transactions with Redeco Fibers Private Limited | Ordinary Resolution |
| 4. | Approval of the material Related Party Transactions with Haripriya Spinning Mill Private Limited | Ordinary Resolution |
| 5. | Approval of the material Related Party Transactions with Murlidhar Worldtrade Private Limited | Ordinary Resolution |
| 6. | Approval of Remuneration of Cost Auditor | Ordinary Resolution |
| 7. | To reappoint Mr. Rutvikkumar Prabhudas Bhensdadiya, an Independent Director, to hold office for a second term of consecutive five years | Special Resolution |
After the review of all items, Ms. Reena Kanabar confirmed that no questions were raised by the members or directors. The meeting concluded after Ms. Kanabar thanked the shareholders and all panel members for their time.
Stock Price Movement
Angel Fibers Ltd shares settled at ₹10.63 on Thursday, delivering a strong performance with the stock rising 19.84%. However, the day's movement was completely flat, as the high and low for the stock were identically locked at ₹10.63.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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