Indian Card Clothing Approves Q1 FY27 Results, Investment in Subsidiary

Indian Card Clothing Company Ltd. announced the approval of its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The Board of Directors also approved a further investment in the equity share capital of Garnett Wire Ltd., UK, a wholly-owned subsidiary. The company also disclosed the resignation of Mr. Sanjeevkumar Karkamkar as Executive Director & CFO, effective September 1, 2026, though he will continue as a Non-Independent Non-Executive Director. Garnett Wire Ltd. reported a turnover of £826,760 and a net profit of £27,497 for the year ended March 31, 2026. The investment in Garnett Wire Ltd. is considered a related party transaction due to Mr. Mehul K. Trivedi's directorship, but it will be conducted at arm's length with valuation by an independent expert.