Vishal Fabrics MD, chairman and AGM

Vishal Fabrics board of directors

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

Chairperson and managing directorBRIJMOHAN CHIRIPAL DEVKINANDAN

6 directors3 independent3 executive

BRIJMOHAN CHIRIPAL DEVKINANDAN · Chairperson and managing directorExecutive · joined Jun 2017 · 1 listed board · 1 committee seat
RAVINDRAKUMAR BAJRANGLAL BAJAJExecutive · joined May 2019 · 1 listed board
ARVIND BADELAL PANDEYExecutive · joined May 2024 · 1 listed board
SUSANTA KUMAR PANDAIndependent · joined Jun 2021 · reappointed May 2026 · 61 months as independent · 5 listed boards · 5 as independent · 5 committee seats, 1 as chair
RAM KRISHNA DASHIndependent · joined Oct 2024 · 24 months as independent · 1 listed board · 1 as independent · 2 committee seats, 2 as chair
ROMA SIDDHARTH SANGHANIIndependent · joined Oct 2024 · 24 months as independent · 1 listed board · 1 as independent · 2 committee seats

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.

Committees and meetings

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

Board
- 6 Aug 20265 of 6 present3 independent · 77 days in between
- 20 May 20264 of 6 present3 independent
Audit Committee
Chair RAM KRISHNA DASH
BRIJMOHAN CHIRIPAL DEVKINANDAN, SUSANTA KUMAR PANDA, ROMA SIDDHARTH SANGHANI
- 6 Aug 20263 of 3 present3 independent
- 20 May 20264 of 4 present3 independent
Nomination and remuneration committee
Chair SUSANTA KUMAR PANDA
ROMA SIDDHARTH SANGHANI, RAM KRISHNA DASH
- 20 May 20263 of 3 present3 independent
Stakeholders Relationship Committee
Chair RAM KRISHNA DASH
SUSANTA KUMAR PANDA, ROMA SIDDHARTH SANGHANI
- 6 Aug 20263 of 3 present3 independent
- 20 May 20263 of 3 present3 independent
Corporate Social Responsibility Committee
Chair BRIJMOHAN CHIRIPAL DEVKINANDAN
SUSANTA KUMAR PANDA, ROMA SIDDHARTH SANGHANI, RAM KRISHNA DASH
- 20 May 20263 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.

S V J K & AssociatesPeer-review certificate valid to Nov 2026

1 earlier auditor

M/s. S V J K AND ASSOCIATESNamed in the filing for the quarter to Mar 2025

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.

Vishal Fabrics 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.Vishal Fabrics dividend history

Annual general meeting, 11 Aug 2026

36,926 shareholders on the register on 4 Aug 2026; present: 22 promoters and 17 others; votes counted by Chirag Shah / Chirag Shah & Associates.The company's voting result (opens in a new tab)

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
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 50.07% · promoters 90.87% · institutions 0.00% · other public 0.19%
To appoint a director in place of Mr. Arvind Pandey (DIN: 10637419) a, who retires by rotation and being eligible offers himself for re-appointment.
Ordinary
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 50.07% · promoters 90.87% · institutions 0.00% · other public 0.19%
Ratification of remuneration of cost auditor of the company
Ordinary
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 50.07% · promoters 90.87% · institutions 0.00% · other public 0.19%
Reappointment of Mr. Susanta Kumar Panda (din: 07917003) as an independent director
Special
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 50.07% · promoters 90.87% · institutions 0.00% · other public 0.19%

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.

Dealings with its subsidiaries, promoters, directors and their firms, reported every half-year.Promoters and their stake

Half-year to Mar 2026: ₹24.7 Cr38 dealings
Half-year to Sep 2025: ₹0.3 Cr27 dealings
Half-year to Mar 2025: ₹0.3 Cr37 dealings
Half-year to Sep 2024: ₹26.4 Cr26 dealings
Half-year to Mar 2024: ₹77.4 Cr31 dealings
Half-year to Sep 2023: ₹50.9 Cr27 dealings

Between	Dealing
Vishal Fabrics Limited and Deepak Impex Private LimitedRelative of Director is Member	Purchase of goods or services	12.00	−0.98	4.76
Vishal Fabrics Limited and Srikunj Weaving Private LimitedDirector is Member	Any other transactionadvance	3.00	0.00	3.00
Vishal Fabrics Limited and SHANTI SPINTEX LIMITEDRelative of Director of the Company	Any other transactionadvance	3.00	0.00	−3.00
Vishal Fabrics Limited and Nandan Terry LimitedCommon Director	Sale of goods or services	1.51	3.71	2.06
Vishal Fabrics Limited and Nandan Corportion LLPDirector's relative is partner	Purchase of goods or services	0.99	0.00	0.00
Vishal Fabrics Limited and Narol Textile Infrastricture & Enviro ManagementRelative of Director of the Company	Any other transactionEffluent Treatment Charge	0.99	−0.01	−0.18
Vishal Fabrics Limited and Dholi Spintex Private LimitedCommon Director	Sale of goods or services	0.72	1.02	0.37
Vishal Fabrics Limited and Dholi Integrated Spinning Park LimitedRelative of Director is Director	Purchase of goods or services	0.45	−1.10	0.57
Vishal Fabrics Limited and Suketu ShahCEO of the Company	Remuneration	0.39	0.00	0.00
Vishal Fabrics Limited and Srikunj Weaving Private LimitedDirector is Member	Purchase of goods or services	0.32	−0.33	0.64
Vishal Fabrics Limited and Happiness Reserves FoundationRelative of Director is Trustee	Any other transactionDonation	0.26	0.00	0.00
Vishal Fabrics Limited and Dharmesh DattaniChief Financial Officer of the Company	Remuneration	0.18	0.00	0.00
Vishal Fabrics Limited and Nova Textiles Private LimitedCommon Director	Purchase of goods or services	0.16	0.97	1.04
Vishal Fabrics Limited and SHANTI SPINTEX LIMITEDRelative of Director of the Company	Purchase of goods or services	0.11	0.00	−0.12
Vishal Fabrics Limited and SHANTI SHIRTING PRIVATE LIMITEDCommon Director	Purchase of goods or services	0.09	0.00	−0.11
Vishal Fabrics Limited and Arvind PandeyExecutive Director of the Company	Remuneration	0.09	0.00	0.00
Vishal Fabrics Limited and MILE STONE EDUCOM TRUSTRelative of Director of the Company	Any other transactionDonation	0.07	0.00	0.00
Vishal Fabrics Limited and DILIPKUMAR NIKHARECompany Secretary of the Company	Remuneration	0.06	0.00	0.00
Vishal Fabrics Limited and Simran BajajRelative of Director	Remuneration	0.06	0.00	0.00
Vishal Fabrics Limited and Nupur BajajRelative of Director	Remuneration	0.06	0.00	0.00
Vishal Fabrics Limited and Chiripal Textile Mills Private LimitedCommon Director	Sale of goods or services	0.05	−0.05	0.00
Vishal Fabrics Limited and GREW RENEWABLES PRIVATE LIMITEDRelative of Director of the Company	Purchase of goods or services	0.04	0.00	0.02
Vishal Fabrics Limited and DEVKINANDAN CORPORATION LLPDirector is Partner in the LLP	Any other transactionadvance	0.04	0.00	0.04
Vishal Fabrics Limited and Hexa Biochem Private LimitedDirector is Member	Purchase of goods or services	0.03	−0.02	−0.03
Vishal Fabrics Limited and Quality Exim Private LimitedCommon Director	Purchase of goods or services	0.03	0.00	0.00

The 25 largest of 38 dealings in the half-year to Mar 2026, ₹ crore.

Tax disputes

Reported in the filing for the quarter to Sep 2026.

Tax disputeDeputy Commissioner of Income Tax, Ahmedabad.Since 1 Apr 2024
The Order of the Commissioner of Income Tax (Appeals) has been received. The Company has filed an appeal before the Income Tax Appellate Tribunal (ITAT) within the stipulated time prescribed under the Income-tax Act. The appeal proceedings before the ITAT are currently under process.MoreLess
At the filing before: An order against notice for the A.Y. 2022-23 was received, determining a refund of 1.83 Crore. The Company has filed an appeal before the Income Tax Appellate Tribunal (ITAT).
Tax disputeDeputy Commissioner of Income Tax, Ahmedabad.Since 23 Jul 2024
The Order of the Commissioner of Income Tax (Appeals) has been received. The Company has filed an appeal before the Income Tax Appellate Tribunal (ITAT) within the stipulated time prescribed under the Income-tax Act. The appeal proceedings before the ITAT are currently under process.MoreLess
At the filing before: An order against notice received for the A.Y. 2017-18, 2018-19 and 2019-20 determining a refund of Rs. 42,300, Rs. 59,236. and Rs.1,713. respectively. For A.Y. 2021-22, Income tax department have reduced demand from Rs. 1.42 Cr to Rs. 85.87 Lakh. The Company has filed an appeal before the Income Tax Appellate Tribunal (ITAT) against this order.MoreLess
Tax disputeDeputy Commissioner of Income Tax, Ahmedabad.Since 26 Jul 2024
The Order of the Commissioner of Income Tax (Appeals) has been received. The Company has filed an appeal before the Income Tax Appellate Tribunal (ITAT) within the stipulated time prescribed under the Income-tax Act. The appeal proceedings before the ITAT are currently under process.MoreLess
At the filing before: An order against notice received for the A.Y. 2023-24 determining reduction in demand from Rs. 50.54 lakh to Rs. 21.22 Lakh. The Company has filed an appeal before the Income Tax Appellate Tribunal (ITAT) against this order.MoreLess
Tax disputeDeputy Commissioner of Income Tax, Ahmedabad.Since 21 Aug 2024
The Order of the Commissioner of Income Tax (Appeals) has been received. The Company has filed an appeal before the Income Tax Appellate Tribunal (ITAT) within the stipulated time prescribed under the Income-tax Act. The appeal proceedings before the ITAT are currently under process.MoreLess
At the filing before: An order against notice received for the A.Y. 2020-21 determining reduction in demand from Rs. 20.21 Lakh to 13.33 Lakh. The Company has filed an appeal before the Income Tax Appellate Tribunal (ITAT) against this order.MoreLess
Tax disputeDeputy Commissioner of Income Tax, Ahmedabad.Since 17 Sep 2024
The Order of the Commissioner of Income Tax (Appeals) has been received. The Company has filed an appeal before the Income Tax Appellate Tribunal (ITAT) within the stipulated time prescribed under the Income-tax Act. The appeal proceedings before the ITAT are currently under process.MoreLess
At the filing before: An order against notice for the A.Y. 2016-17 was received, determining a refund of 33.88 Lakh. The Company has filed an appeal before the Income Tax Appellate Tribunal (ITAT).

In the company's own words, from its latest governance filing.

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: No
The filing has a part on fines and penalties: No
The filing has a part on tax disputes: Yes
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 Sep 2025. The company's results filing for the quarter to Jun 2026 says no statement of how money raised was used applies to it. 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.

Raised	Amount raised	For	Set aside	Spent	Spent elsewhere
Preferential IssuesSep 2024, checked by CARE RATINGS LIMITED	153.00	Working capital Requirement	38.00	38.00	No
Preferential IssuesSep 2024, checked by CARE RATINGS LIMITED	153.00	Repayment of Unsecured loans / creditors / secured loans	86.33	86.33	No
Preferential IssuesSep 2024, checked by CARE RATINGS LIMITED	153.00	General Corporate Purposes	28.42	28.42	No
Preferential IssuesSep 2024, checked by CARE RATINGS LIMITED	153.00	Issue Related Expenses	0.25	0.25	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.

Vishal Fabrics board of directors

Committees and meetings

Board

Audit Committee

Nomination and remuneration committee

Stakeholders Relationship Committee

Corporate Social Responsibility Committee