PBM Polytex Limited announced the outcome of its Board Meeting held on August 13, 2026. The company approved its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. Key appointments were also confirmed, including the re-appointment of Mr. Gopal Patodia and Mr. Mohan Kumar Patodia as Managing Directors for a term of three years, and Ms. Amishal Modi as an Independent Director for five years. The board also approved the reconstitution of its committees.
PBM Polytex Board Meeting Highlights
PBM Polytex Limited convened its Board of Directors meeting on August 13, 2026, addressing several critical corporate matters. The meeting concluded with the approval of the company’s unaudited financial results for the first quarter ended June 30, 2026, encompassing both standalone and consolidated statements. These results have been reviewed by the Audit Committee and the Statutory Auditor.
Key Re-appointments and Governance Changes
In a significant governance update, the board approved the re-appointment of Mr. Gopal Patodia as Managing Director for a term of three years, commencing from April 1, 2027, to March 31, 2030. Similarly, Mr. Mohan Kumar Patodia was re-appointed as Managing Director for the same tenure. The re-appointment of both executives is subject to shareholder approval at the upcoming Annual General Meeting. Additionally, Ms. Amishal Modi was re-appointed as an Independent Director for a second term of five years, from August 12, 2027, to August 11, 2032.
Following the sad demise of Non-Executive Director Mr. Hari Prasad Siotia, the board resolved to reconstitute its key committees: the Audit Committee, the Nomination and Remuneration Committee, and the Stakeholders’ Relationship Committee. The revised compositions of these committees have been detailed.
Wind Mill Undertakings Disposal Approved
The board also gave its approval for the proposal concerning the company’s four Wind Mill Undertakings. This includes the option for renewal of lease agreements and Power Purchase Agreements, or alternatively, the sale, slump-sale, or scrap of these undertakings. The decision on the specific course of action will be made in due course.
Preference Share Terms Revision
Furthermore, the company approved a proposal to revise the redemption terms of 46,00,000 6% Non-Cumulative Non-Convertible Redeemable Preference Shares of Rs. 10/- each, held in M/s Eurotex Industries and Exports Limited. The redemption tenure will be extended to any time before the expiry of the 20th year from the allotment date, i.e., on or before December 8, 2036.
Source: BSE
