Suryalakshmi Cotton Mills Approves Financial Results, Redemptions, and Director Changes

Suryalakshmi Cotton Mills Approves Financial Results, Redemptions, and Director Changes​

Suryalakshmi Cotton Mills Limited announced key outcomes from its Board of Directors meeting held on May 25, 2026. The board reviewed the company's financial results for the fourth quarter and the full financial year ending March 31, 2026.

The board approved the audited financial results for the fourth quarter and the financial year ended March 31, 2026, following review by the Audit Committee. Furthermore, the company confirmed that the Statutory Auditors issued an Audit Report with an unmodified opinion on the audited financial statements for the year ended March 31, 2026.

Dividend and Share Capital Actions​

At the board meeting, the company's board noted that it did not recommend any dividend on equity shares for the Financial Year 2025-26. The board also approved the waiver of the preference dividend for FY 2025-26 pertaining to the 10% Cumulative Redeemable Preference Shares and 5% Non-Cumulative Redeemable Preference Shares, subject to written consent from the respective preference shareholders.

The board approved two key redemption actions:

1. Extension of Shares: The company approved the extension of the redemption period for 5,00,000 10% Cumulative Redeemable Preference Shares, each having a face value of ₹ 100. The original redemption date of August 18, 2026, is revised to August 17, 2029, to help manage cash flow and align with long-term business plans.
2. Redemption of Shares: The board also approved the redemption of 2,00,000 5% Non-Cumulative Redeemable Preference Shares, valued at ₹ 100 per share. The aggregate value of these shares is ₹ 2,00,00,000 (Rupees Two Crores only). These shares are scheduled for redemption on June 30, 2026, funded out of the company's profits.

Director and Committee Changes​

The board approved changes to the company's board composition, effective July 27, 2026.

Director Turnover:
Sri Dhruv Vijai Singh, an Independent Director, will complete his second and final term as Independent Director on July 27, 2026.

New Appointment:
The board approved the appointment of Sri Venkata Phani Kiran Kumar Immaneni (DIN: 11737207) as an Additional Director, designated as a Non-Executive and Independent Director. His term will span five consecutive years, starting July 27, 2026, and ending July 26, 2031, subject to member approval. Sri Venkata Phani Kiran Kumar Immaneni is described as a seasoned banking professional with extensive experience in international banking and business strategy.

Committee Reconstitution:
Considering the retirement of Sri Dhruv Vijai Singh and the appointment of Sri Venkata Phani Kiran Kumar Immaneni, the board reconstituted its key committees with effect from July 27, 2026:

Auditors Re-appointment​

The board approved the re-appointment of the company's statutory and functional auditors for the Financial Year 2026-27:

SURYALAXMI Stock Price Movement​

Today, Suryalakshmi Cotton Mills Limited shares rallied, concluding the session at ₹60.05 after edging up 3.20%. The stock traded on a volume of 2,489 shares, marking a notable upward move for the textile company.