Gujarat Cotex Limited has announced the outcome of its Board of Directors meeting held on November 5, 2026. The board approved the un-audited financial results for the quarter and half year ended September 30, 2026. Additionally, the company approved the fund utilization for a Rights Issue and its appropriation, particularly in light of under-subscription. The Managing Director has been authorized to execute various documents related to business operations.
Board Meeting Outcome
The Board of Directors of Gujarat Cotex Limited convened a meeting on November 5, 2026, to discuss and approve key financial and operational matters. The meeting, which commenced at 06:30 PM and concluded at 07:00 PM, resulted in several significant decisions impacting the company’s financial reporting and future capital raising activities.
Financial Results Approved
A primary agenda item was the approval of the Un-Audited Financial Results for both the quarter and the six months that concluded on September 30, 2026. The Board took note of the Limited Review Report issued by the Statutory Auditors, which had been previously reviewed and recommended by the Audit Committee. These results highlight the company’s financial performance during the period.
Rights Issue and Fund Utilization
Further to ongoing strategic initiatives, the Board approved the fund utilization for the company’s Rights Issue. This approval also includes the appropriation of funds, specifically addressing aspects related to any under-subscription of the Rights Issue. This move indicates a focus on strengthening the company’s financial structure and potentially expanding its equity base.
Management Authorizations
In a move to streamline operations and ensure efficient execution of corporate activities, Mr. Chetankumar Shaileshkumar Parekh, the Managing Director and CFO, has been formally authorized. He is empowered to execute various documents and finalize terms as necessary for the smooth business operation of the company. This delegation aims to enhance decision-making agility and operational efficiency.
Standalone Financials Summary
The accompanying standalone unaudited financial results for the quarter and half year ended September 30, 2026, show a Profit before exceptional and extraordinary items and tax of ₹53.10 Lakhs for the current quarter, compared to ₹16.34 Lakhs in the corresponding previous quarter. For the half-year ended September 30, 2026, this profit stood at ₹69.44 Lakhs.
Total Revenue for the quarter ended September 30, 2026, was ₹893.39 Lakhs. Total Expenditure for the same period amounted to ₹844.41 Lakhs. The reported Profit/Loss for the period from continuing operations for the quarter is ₹53.10 Lakhs, with Total Comprehensive Income also at ₹53.10 Lakhs. For the half-year, the profit from continuing operations and total comprehensive income both stood at ₹69.44 Lakhs.
The company’s Paid-up equity Share Capital as of September 30, 2026, was ₹4746.66 Lakhs. Earnings per share (basic and diluted) for the quarter stood at ₹0.06, and for the half-year at ₹0.07.
Source: BSE
