Faze Three Limited Approves Q1 Financial Results and Announces Director Appointments

Faze Three Limited Approves Q1 Financial Results and Announces Director Appointments​

Faze Three Limited has announced the outcome of its Board Meeting held on August 11, 2026, approving the unaudited financial results for the first quarter ended June 30, 2026. The company also made several key governance appointments and recommendations for shareholders approval at the ensuing Annual General Meeting (AGM).

The Board reviewed the standalone and consolidated results and confirmed the appointment of a new director while noting the conclusion of a long-serving director's tenure.

Governance Updates and Board Recommendations​

Key corporate decisions approved during the meeting included:

• Director Appointments: The company approved the appointment of Mr. Mohit D. Solanki as an Additional Director (Independent) effective August 17, 2026. The Board further recommended his appointment as an Independent Director for a five-year term to be ratified by shareholders at the AGM.
• Director Departure: The company noted the conclusion of the second tenure of Mr. Vinit Rathod, Independent Director, with effect from August 11, 2026. The Board expressed sincere appreciation and gratitude for his valuable guidance and contribution during his tenure.
• Re-appointment: The board recommended the re-appointment of Mr. Sanjay Anand, who retires by rotation but offered himself for re-appointment at the AGM.
• Financial Limits: Shareholders were asked to approve the increase in borrowing limits up to ₹ 1,000 Crores, or the aggregate of paid-up share capital, free reserves, and securities premium, whichever is higher. Additionally, approval was sought for increasing the limit for creating mortgage(s)/charge(s) on company assets up to ₹ 1,000 Crores or the aggregate of paid-up share capital, free reserves, and securities premium, whichever is higher.
• AGM Details: The Notice of the 41st Annual General Meeting was approved, scheduled for Friday, September 04, 2026, conducted through Video Conferencing. Cutoff dates were also set for determining shareholders entitled to receive the Annual Report (August 07, 2026) and those entitled to vote on AGM business (August 28, 2026). The appointment of M/s. Sanjay Dholakia & Associates as the Scrutinizer for remote e-voting was also approved.

Financial Performance: Standalone Results (Q1 FY2026)​

The unaudited financial results for Faze Three Limited for the quarter ending June 30, 2026, reviewed by M/s. MSKA & Associates and the Audit Committee, are summarized below (amounts in Crores):

Financial Performance: Consolidated Results (Q1 FY2026)​

The consolidated unaudited financial results for Faze Three Limited and its subsidiaries, including Faze Three US LLC, Mats and More Private Limited, and the Faze Three Employee Trust, are presented as follows (amounts in Crores):


The company operates in one reportable segment: manufacturing of home textiles, including products such as bathmats, rugs, blankets, throws, and cushions. The results have been reviewed by the Audit Committee and approved by the Board of Directors.

FAZE3Q Stock Price Movement​

On Tuesday, shares of Faze Three Limited rallied to close at ₹603.35, rising 6.91% on a positive session. The equity saw considerable activity, trading within a range that started near ₹570.6 and included 157,072 shares traded in total.