PBM Polytex Approves Management Changes and Key Proposals After Q1 Financial Review
PBM Polytex Ltd.'s Board of Directors held a meeting on August 13, 2026, during which it approved the financial results for the quarter ended June 30, 2026, ratified the re-appointment of several key personnel, and greenlit proposals concerning corporate restructuring and asset disposal.The board decisions focused heavily on governance continuity and strategic long-term planning. Key approvals included the reappointment of Managing Directors Mr. Gopal Patodia and Mr. Mohan Kumar Patodia for a three-year term each, commencing from April 1, 2027, subject to shareholder ratification at the ensuing Annual General Meeting (AGM). Additionally, Ms. Amishal Modi was re-appointed as an Independent Director for a second five-year term, effective August 12, 2027.
One significant corporate proposal approved by the Audit Committee concerned the disposal of four Wind Mill Undertakings engaged in power generation across various locations including Gujarat and Jamnagar. The board approved the option to either renew existing leases along with Power Purchase Agreements (PPAs), or sell, slump-sell, or scrap any or all of these undertakings.
The company also granted consent for a proposal from M/s Eurotex Industries and Exports Limited regarding its preference shares. The approval allows the revision in the redemption terms of 46,00,000 Non-Cumulative Non-Convertible Redeemable Preference Shares of Rs. 10/- each, extending the redemption tenure to be completed no later than December 8, 2036.
Financial Performance Overview
The Unaudited Standalone and Consolidated Financial Results for PBM Polytex Ltd. for the quarter ended June 30, 2026, were approved by the Board of Directors following a review by the Audit Committee. The results show Total Income reaching 3,925.10 (in Lakhs).Key figures from the Consolidated Unaudited Financial Results are summarized below:
| Metric | Q ended June 30, 2026 (Unaudited) | Q ended March 31, 2026 (Audited) | Q ended June 30, 2025 (Unaudited) | FY ended March 31, 2026 (Audited) |
|---|---|---|---|---|
| Revenue from Operations | 3,884.82 | 4,795.67 | 4,647.07 | 16,651.92 |
| Total Income | 3,925.10 | 4,881.23 | 4,684.47 | 17,504.73 |
| Total Expenses | 3,664.28 | 5,057.56 | 4,874.54 | 17,709.9r |
| Profit/(loss) for the period | 195.19 | (135.891) | (147.03) | 1757.421 |
Committee Reconstitution and Composition
The Board also reconstituted three key committees following the passing of Non-Executive Director Mr. Hari Prasad Siotia. The compositions of these committees were approved:Audit Committee Composition:
| Name of Committee Members | Position in Committee | Nature of Directorship |
|---|---|---|
| Mr. Chirayush Patel | Chairman | Non-Executive - Independent Director |
| Mr. Ashok Pandit | Member | Non-Executive - Independent Director |
| Mr. Rakesh Todi | Member | Non-Executive - Independent Director |
| Ms. Amishal Modi | Member | Non-Executive - Independent Director |
| Mr. Gopal Patodia | Member | Managing Director |
Nomination & Remuneration Committee Composition:
| Name of Committee Members | Position in Committee | Nature of Directorship |
|---|---|---|
| Mr. Chirayush Patel | Chairman | Non-Executive - Independent Director |
| Mr. Ashok Pandit | Member | Non-Executive - Independent Director |
| Mr. Rakesh Todi | Member | Non-Executive - Independent Director |
| Ms. Amishal Modi | Member | Non-Executive - Independent Director |
| Mr. Gopal Patodia | Member | Managing Director |
Stakeholders' Relationship Committee Composition:
| Name of Committee Members | Position in Committee | Nature of Directorship |
|---|---|---|
| Mr. Chirayush Patel | Chairman | Non-Executive - Independent Director |
| Mr. Ashok Pandit | Member | Non-Executive - Independent Director |
| Mr. Rakesh Todi | Member | Non-Executive - Independent Director |
| Mr. Gopal Patodia | Member | Managing Director |
| Mr. Krishan Kumar Patodia | Member | Non-Executive - Non-Independent Director |
Associate Company Status
Regarding the associate, Eurotex Industries and Exports Limited, reports confirmed that management of the company has settled all dues with lender banks. The associate is planning to develop its available land area in near future for yarn trading or other business activities. Due to these positives, the financial statements of the associate company were prepared on a going concern basis.Stock Price Movement
At 12:51, PBM Polytex Ltd. is edging higher as its shares trade at ₹61.00, marking a strong gain of 5.54%. The stock has moved within an intraday range, touching lows near ₹56.65 and reaching the current high of ₹61.00.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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