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VIP Clothing MD, chairman, board of directors and AGM

NSE: VIPCLOTHNGBSE: 532613Textiles & ApparelsSmall Cap

Formerly Maxwell Industries
Last close ₹17.21down ₹0.81 (4.50%)BSE ₹17.29

Share price at the NSE close on 23 Oct 2026. Previous close ₹18.02.

52-week range of traded prices to 23 Oct 2026
₹14.05Low, 30 Mar 2026₹37.55High, 5 Dec 2025
Market cap
₹155 Cr2,359th largest listed
P/E
16.3
P/B
0.8
Dividend yield
Nonein the last 12 months
ROE
5.0%
ROCE
7.3%
Debt to equity
0.34
Volume, NSE
71,85676.8% delivered

VIP Clothing board of directors

At the end of the quarter to Jun 2026, as the company filed it; changes since are in its announcements.Their trades in its shares

  • Chairperson and managing directorSUNIL JAYKUMAR PATHARE
  • Managing directorKAPIL JAYKUMAR PATHARE
  • Company Secretary and Compliance OfficerRahul Soni

6 directors3 independent2 executive1 non-executive

  • SUNIL JAYKUMAR PATHARE · Chairperson and managing directorExecutive · joined Sep 1992 · 36 months as independent · 1 listed board · 1 committee seat
  • KAPIL JAYKUMAR PATHARE · Managing directorExecutive · joined Sep 2002 · 36 months as independent · 1 listed board · 1 committee seat
  • KISHOR SOMNATH NAVANDARIndependent · joined Feb 2024 · reappointed Feb 2024 · 28 months as independent · 1 listed board · 1 as independent · 1 committee seat, 1 as chair
  • VANDANA KUMARI BHARDWAJNon-executive · joined Feb 2024 · reappointed Feb 2024 · 28 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • VILAS CHANDRAKANT GUPTEIndependent · joined Feb 2024 · reappointed Feb 2024 · 28 months as independent · 1 listed board · 1 as independent · 2 committee seats
  • UDAY LAXMAN AJGAONKARIndependent · joined Mar 2025 · reappointed Mar 2025 · 15 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair

An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.

1 director who left
  • MEHER BRUNO CASTELINO, left 23 Mar 2025: Tenure Completion

Committees and meetings

Who sits on each, and how often they met.Board meeting notices and outcomes

  • Board

    • 27 May 20266 of 6 present4 independent · 8 days in between
    • 18 May 20266 of 6 present4 independent · 94 days in between
    • 12 Feb 20266 of 6 present4 independent

  • Audit Committee

    Chair KISHOR SOMNATH NAVANDAR

    SUNIL JAYKUMAR PATHARE, VILAS CHANDRAKANT GUPTE, UDAY LAXMAN AJGAONKAR

    • 27 May 20264 of 4 present3 independent · 8 days in between
    • 18 May 20264 of 4 present3 independent · 94 days in between
    • 12 Feb 20264 of 4 present3 independent

  • Nomination and remuneration committee

    Chair KISHOR SOMNATH NAVANDAR

    VILAS CHANDRAKANT GUPTE, VANDANA KUMARI BHARDWAJ, UDAY LAXMAN AJGAONKAR

    • 27 May 20264 of 4 present4 independent · 103 days in between
    • 12 Feb 20264 of 4 present4 independent

  • Stakeholders Relationship Committee

    Chair UDAY LAXMAN AJGAONKAR

    KAPIL JAYKUMAR PATHARE, VILAS CHANDRAKANT GUPTE, VANDANA KUMARI BHARDWAJ

    • 27 May 20264 of 4 present3 independent · 103 days in between
    • 12 Feb 20264 of 4 present3 independent

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Statutory auditor

Named in the results for the quarter to Mar 2026.

  • DMKH & Co.Peer-review certificate valid to Apr 2027

A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.

VIP Clothing AGM and shareholder votes

Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.VIP Clothing dividend history

Annual general meeting, 28 Sep 2026

31,739 shareholders on the register on 21 Sep 2026; present: 5 promoters and 88 others; votes counted by Ketan Ravindra Shirwadkar / KRS AND CO.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the audited financial statements of the Company for the financial year ended March 31, 2026, together with the reports of the Board of Directors and the Auditors thereon.MoreLess
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.15%

    Turnout: all 49.49% · promoters 100.00% · institutions 0.05% · other public 5.51%

  2. To appoint a Director in place of Mr. Kapil J. Pathare (DIN: 01089517), who retires by rotation at this Annual General Meeting and, being eligible, offers himself for re-appointment.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.23%

    Turnout: all 49.49% · promoters 100.00% · institutions 0.05% · other public 5.51%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Extraordinary general meeting, 11 Jun 2026, 1 resolution

32,373 shareholders on the register on 4 Jun 2026; present: 6 promoters and 71 others; votes counted by Ketan Ravindra Shirwadkar / KRS AND CO.The company's voting result (opens in a new tab)

  1. To issue warrants (convertible into equity shares of the Company) on preferential basis to Promoter and Non-Promoters Category
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 51.21% · promoters 100.00% · institutions 0.00% · other public 8.76%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 18 Sep 2025, 4 resolutions

33,143 shareholders on the register on 11 Sep 2025; present: 6 promoters and 94 others; votes counted by Ketan Ravindra Shirwadkar / KRS AND CO.The company's voting result (opens in a new tab)

  1. 1 - To receive, consider, approve and adopt the Audited Financial Statements of the Company comprising of Balance Sheet as at March 31, 2025, Statement of Profit and Loss for the financial year ended March 31, 2025 together with the Management Report, Directors’ Report and Auditors’ Report thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 49.36% · promoters 100.00% · institutions 7.45% · other public 5.24%

  2. 2 - To appoint a Director in place of Mr. Sunil J. Pathare (DIN: 00192182), who retires by rotation at this Annual General Meeting and being eligible offers himself for re-appointment.
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 49.36% · promoters 100.00% · institutions 7.45% · other public 5.24%

  3. 3 - To appoint M/s. DMKH & Co, Chartered Accountants (Firm Registration No. 116886W) as the Statutory Auditors of the Company.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 49.36% · promoters 100.00% · institutions 7.45% · other public 5.24%

  4. 4 - To appoint M/s. KRS AND CO., Practicing Company Secretaries, as the Secretarial Auditors of the Company.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 49.36% · promoters 100.00% · institutions 7.45% · other public 5.24%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 22 Mar 2025, 3 resolutions

32,536 shareholders on the register on 14 Feb 2025; votes counted by RAKESH SANGHANI / RAAM & Associates LLP.The company's voting result (opens in a new tab)

  1. 1. Re-Appointment of Mr. Sunil Pathare (DIN: 00192182) as Chairman and Managing Director for the period of Three (3) Years, commencing from April 1, 2025.
    SpecialPromoters have an interest in it
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.34%

    Turnout: all 49.26% · promoters 100.00% · institutions 0.00% · other public 5.11%

  2. 2 - Appointment of Mr. Kapil Pathare (DIN: 01089517) as a Deputy Managing Director for the period of Three (3) Years, Commencing From April 1, 2025.
    SpecialPromoters have an interest in it
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.34%

    Turnout: all 49.26% · promoters 100.00% · institutions 0.00% · other public 5.11%

  3. 3. Appointment of Mr. Uday Laxman Ajgaonkar (DIN: 02219286) as a Non – Executive Independent Director of the Company.
    Special
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.34%

    Turnout: all 49.26% · promoters 100.00% · institutions 0.00% · other public 5.11%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 29 Dec 2024, 1 resolution

32,786 shareholders on the register on 21 Nov 2024; votes counted by RAKESH SANGHANI / RAAM & Associates LLP.The company's voting result (opens in a new tab)

  1. To appoint Statutory Auditor to fill up the causal vacancy.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.30%

    Turnout: all 52.16% · promoters 100.00% · institutions 0.00% · other public 5.10%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 27 Sep 2024, 2 resolutions

Present: 7 promoters and 70 others.The company's voting result (opens in a new tab)

  1. Receive, consider, approve and adopt the Audited Financial Statements of the Company comprising of Balance Sheet on 31 March 2024, Statement of Profit and Loss for the FY ended 31 March 2024 together with the Management Report, Directors’Report and Auditors’Report thereon.MoreLess
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.41%

    Turnout: all 50.07% · promoters 95.85% · institutions 0.00% · other public 5.05%

  2. To appoint a Director in place of Mr. Kapil J. Pathare (DIN: 01089517), who retires by rotation at this Annual General Meeting and being eligible offers himself for re-appointment.
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.43%

    Turnout: all 50.07% · promoters 95.85% · institutions 0.00% · other public 5.05%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Extraordinary general meeting, 5 Aug 2024, 2 resolutions

Present: 7 promoters and 35 others.The company's voting result (opens in a new tab)

  1. Issue of Equity Shares to Person(s) belonging to Non-Promoter Category on Preferential Basis.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 51.34% · promoters 100.00% · institutions 0.00% · other public 3.50%

  2. Issue of Convertible Equity Warrants on preferential to Non-Promoter persons/entities. Special Resolution
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 51.34% · promoters 100.00% · institutions 0.00% · other public 3.50%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 21 Mar 2024, 3 resolutions

The company's voting result (opens in a new tab)

  1. APPOINTMENT OF MR. KISHOR NAVANDAR (DIN: 00164401) AS AN INDEPENDENT DIRECTOR OF THE COMPANY.
    Special
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 3.31%

    Turnout: all 50.02% · promoters 100.00% · institutions 0.00% · other public 0.87%

  2. APPOINTMENT OF MR. VILAS CHANDRAKANT GUPTE (DIN: 10509707) AS AN INDEPENDENT DIRECTOR OF THE COMPANY.
    Special
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 3.31%

    Turnout: all 50.02% · promoters 100.00% · institutions 0.00% · other public 0.87%

  3. APPOINTMENT OF MS. VANDANA KUMARI BHARDWAJ DIN: (06839882) AS AN INDEPENDENT DIRECTOR OF THE COMPANY.
    Special
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 3.31%

    Turnout: all 50.02% · promoters 100.00% · institutions 0.00% · other public 0.87%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

  • Received
  • Resolved

Open at the quarter's end

None open at any quarter's end.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
Yes
The company has a risk management committee
No
The chair is related to the managing director
Yes
The filing has a part on fines and penalties
No
The filing has a part on tax disputes
No
There was a cyber security incident in the quarter
No

The company's own answers in its filing.

How money raised was used

Reported for the quarter to Jun 2026. A preferential issue sells new shares to chosen investors rather than to the public. A warrant or partly paid issue plans the whole issue while the money comes in over time, so the amount set aside can be more than raised so far. A statement's amounts are left out where the raise it states is more than ten times everything the company owns, a figure typed at the wrong scale.

RaisedAmount raisedForSet asideSpentSpent elsewhere
Preferential IssuesOct 2024–To raise further capital in order to meet the funding requirement for business growth which includes investments which may be in subsidiaries and other investment / acquisition opportunities, exploring new initiatives, capital expenditure, working capital, and other general corporate purposes.––No
Preferential IssuesOct 2024–To raise further capital in order to meet the funding requirement for business growth which includes investments which may be in subsidiaries and other investment / acquisition opportunities, exploring new initiatives, capital expenditure, working capital, and other general corporate purposes.––No
₹ crore. Checked by is the agency appointed to monitor how the money is used. The reason and the comments are the company's, its audit committee's and its auditors' own words.