Borana Weaves Limited Approves Expansion Plan, Releases Quarterly Results, and Reappoints Auditors
Borana Weaves Limited, a textile company, has announced the approval of its un-audited financial results for the quarter ended June 30, 2026, along with key governance updates, a strategic expansion plan, and changes in the remuneration of senior management.The Board of Directors of Borana Weaves Limited held a meeting on August 11, 2026, to consider and approve various corporate matters, including the company’s operational and financial performance.
Financial Performance and Strategy
The company approved the Un-Audited Standalone Financial Results for the quarter ended June 30, 2026, which were reviewed and recommended by the Audit Committee.The company is set to expand its operations at Unit 4. The expansion plan includes the installation of 192 Water Jet (WJ) Looms and 3 Texturizing Machines, along with necessary ancillary machinery. This project will be funded through internal accruals, with commercial production targeted for December 2026.
The Board also approved Material Related Party Transactions for the Financial Year 2026-27, subject to necessary approvals, if required. Furthermore, the Board approved the Directors’ Report and the corporate governance report for the Financial Year ended March 31, 2026.
A summary of the Un-Audited Financial Results for the quarter ended June 30, 2026 is provided below:
| Metric | Unaudited (Quarter Ended June 30, 2026) | Quarter (Year Ended March 31, 2026) | Unaudited (Quarter Ended June 30, 2025) | Audited (Year Ended March 31, 2026) |
|---|---|---|---|---|
| Revenue from Operations / Other Income | 1,008,390 | 1,007,320 | 809,962 | 3,885,930 |
| Total Income | 169,630 | 1,024,002 | 821,246 | 968,079 |
| Cost of Materials Consumed | 562,289 | 531,451 | 508,914 | 271,76 |
| Finance Costs | 83,541 | 81,267 | 53,868 | 281,413 |
| Profit Before Exceptional Items and Tax | 19,989 | 200,363 | 1,450.07 | 784,312 |
| Total Tax Expenses | 0.03 | 1,292 | ||
| Profit for the Period | 34,890 | 172,074 | 12,2047 | 137,881,64619 |
| Total Comprehensive Income | 225,1 | 121,339 | 548,638 | |
| Basic Earnings per Share | 618 | 645 | 455 | 2,435 |
Governance and Appointments
The Board meeting also addressed critical governance matters:- Auditor Re-appointment and Appointment: The meeting approved the Re-appointment of M/s KSA & Co., Chartered Accountants as the Statutory Auditors for a term of five years, commencing from April 1, 2026, concluding on March 31, 2031. Additionally, M/s K. Dalal & Co., Practicing Company Secretaries, was appointed as the Secretarial Auditor for a five-year term, starting April 1, 2026.
- AGM: The 6th Annual General Meeting of the shareholders was approved, scheduled for September 29, 2026, and will be conducted via Video Conference (VC) or Other Audio-Visual Means (OAVM).
- Director's Report: The Board approved the Directors' Report for the financial year ended March 31, 2026.
Remuneration Revision
The company approved increases in the remuneration for three of its directors, subject to the approval of the shareholders at the ensuing Annual General Meeting:| Director | Role | New Remuneration (Per Month) |
|---|---|---|
| Mr. Mangilal Ambalal Borana | Chairman and Managing Director | Rs. 1,50,000/- |
| Mr. Rajkumar Mangilal Borana | Executive Director and Chief Financial Officer | Rs. 1,50,000/- |
| Mr. Ankur Mangilal Borana | Executive Director and Chief Executive Officer | Rs. 1,50,000/- |
The revisions in remuneration are effective from September 29, 2026.
BORANA Stock Price Movement
As of 1:33 PM in live trading, Borana Weaves Limited shares are climbing slightly, rising 0.75% to reach ₹309.25. The equity currently stands amidst 4,740 shares traded, holding within the intraday range established between a low of ₹306.5 and a high of ₹313.85.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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