Borana Weaves Approves Expansion Plan, Reviews Q1 Results, and Reappoints Auditors

Borana Weaves Approves Expansion Plan, Reviews Q1 Results, and Reappoints Auditors​

Borana Weaves Limited announced several key business updates following its Board of Directors meeting on August 11, 2026. The board approved the company’s un-audited financial results for the quarter ended June 30, 2026, outlined a major expansion project, and greenlit significant governance matters including auditor appointments and directors' remuneration revisions.

The Board of Directors reviewed the Un-Audited Standalone Financial Results for the quarter ending June 30, 2026, in conjunction with the Limited Review Report issued by Statutory Auditors. Apart from the financial results, the board approved the company’s Board's Report and corporate governance report for the Financial Year ended March 31, 2026. The directors also took note of Material Related Party Transactions planned for the Financial Year 2026-27.

Operational Expansion and Future Outlook​

The company approved a specific expansion plan targeting Unit 4. This initiative involves installing 192 Water Jet (WJ) Looms and 3 Texturizing Machines, along with necessary ancillary machinery. The project is set to be funded through internal accruals, with commercial production targeted for December 2026.

Financial Highlights​

The financial results reviewed by the company reflect specific performance indicators across several reporting periods. Key figures from the Statement of Unaudited Financial Results for the quarter ended June 30, 2026 are detailed below (Rupees in lakhs):

Governance and Appointments​

The Board meeting also covered several critical governance appointments. The company approved the appointment of M/s K. Dalal & Co., Practicing Company Secretaries (FCS No. 3530; CP No. 3863), as the Secretarial Auditor for a term of five years, beginning from April 1, 2026.

Furthermore, M/s KSA & Co., Chartered Accountants (FRN: 003822C) were re-appointed as the Statutory Auditors for another five consecutive years, starting April 1, 2026.

The company also approved the convening of its 6th Annual General Meeting of shareholders on Tuesday, September 29, 2026, which will be held via Video Conference (VC) / Other Audio-Visual Means (OAVM).

Directors' Compensation Revisions​

On the recommendation of the Nomination & Remuneration Committee, the Board approved proposed increases in remuneration for three directors. These revisions are subject to approval by shareholders at the forthcoming Annual General Meeting:

• Mr. Mangilal Ambalal Borana (Chairman and Managing Director) is proposed to receive an increased remuneration of Rs. 1,50,000/- per month.
• Mr. Rajkumar Mangilal Borana (Executive Director and Chief Financial Officer) has a proposed increase in his remuneration set at Rs. 1,50,000/- per month.
• Mr. Ankur Mangilal Borana (Executive Director and Chief Executive Officer) is also subject to increased remuneration of Rs. 1,50,000/- per month.

BORANA Stock Price Movement​

Shares of Borana Weaves Limited today slipped by 3.82% to settle at ₹328.10 in the post-market session. The stock recorded a traded volume of 59,958 shares during the session.