Oxford Industries Approves 99% Share Capital Reduction
Oxford Industries Ltd's Board of Directors has approved a significant 99% reduction in the company's share capital, subject to shareholder approval at the upcoming Annual General Meeting (AGM). This move is attributed to accumulated business losses, with the company reporting losses of ₹12,95,40,119/- as of March 31, 2026. The reduction aims to set off these losses against the company's capital. The board also approved the un-audited standalone financial results for the quarter ended June 30, 2026, and a limited review report. Additionally, Mrs. Kattakota Satyabati Devi was appointed as a Non-Executive Director, and her resignation as Whole-Time Director was noted. The AGM is scheduled for September 11, 2026.
Key Highlights
- Board approves 99% share capital reduction due to accumulated losses.
- Company reports ₹12.95 Cr in accumulated losses as of March 31, 2026.
- Shareholder approval required for capital reduction at the AGM.
- Unaudited standalone financial results for Q1 FY27 declared.
- Appointment of a new Non-Executive Director approved.
Price Impact
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