AARVEE DENIMS & EXPORTS LTD.

Varvee Global Ltd has announced the resignation of its statutory auditors, M/s. Pankaj R Shah & Associates. The auditors cited preoccupation with other audit assignments as the reason for their resignation, which is effective from November 5, 2026. The company has stated that the detailed reasons are provided in the auditors' resignation letter. Varvee Global Ltd has also indicated that the information required by SEBI regulations regarding auditor resignations is enclosed with the filing. The auditors had been appointed for a term of 5 years on August 27, 2022, and had completed the audit for FY26 and issued limited review reports for Q1 and Q2 of FY27.

Varvee Global Ltd has announced the resignation of its statutory auditor, M/s. Pankaj R Shah & Associates, effective November 5, 2026. The auditors cited preoccupation with other audit assignments as the reason for their resignation. The company has stated that the detailed reasons are mentioned in the auditor's resignation letter. Varvee Global Ltd was formerly known as Aarvee Denims and Exports Limited. The company will be filing the ADT-3 form with the Registrar of Companies in due course.

Varvee Global Ltd has announced November 27, 2026, as the record date for the sub-division of its equity shares. The split will convert each equity share with a face value of Rs. 5/- into two equity shares with a face value of Rs. 2/- each. This corporate action was previously approved by the shareholders via postal ballot on October 30, 2026. The sub-division aims to increase the liquidity and affordability of the company's shares.

Varvee Global Ltd has announced November 27, 2026, as the record date for the sub-division of its equity shares. Each equity share with a face value of Rs. 5 will be split into two shares with a face value of Rs. 2 each. This corporate action was previously approved by shareholders via postal ballot on October 30, 2026. The split aims to increase the liquidity and affordability of the company's shares.

Varvee Global Ltd announced that its members have approved the alteration of the Memorandum of Association (MOA) following a sub-division/split of existing equity shares. The alteration was approved via an ordinary resolution passed through postal ballot on October 30, 2026. The amended MOA now reflects the new share capital structure, with the authorized share capital set at Rs. 50,00,00,000/- divided into 17,50,00,000 equity shares of Rs. 2/- each and 1,50,00,000 Cumulative Redeemable Non-Convertible Preference Shares of Rs. 10/- each. The company has also updated its website with the amended MOA.

Varvee Global Limited, formerly Aarvee Denims and Exports Limited, reported a net profit of ₹6.78 crore for the second quarter ended September 30, 2026. This marks a significant turnaround from a net loss of ₹6.56 crore in the previous quarter. Total income surged sequentially to ₹27.68 crore from ₹8.88 crore. However, year-on-year, total income decreased from ₹34.32 crore and net profit fell from ₹10.21 crore in Q2 FY25. For the first half of FY26-27, total income was ₹36.56 crore (vs. ₹40.59 crore in H1 FY25-26) and net profit was ₹23.18 lakh (vs. ₹35.69 crore in H1 FY25-26). The company, which manufactures various textile products and has diversified into renewable energy via its subsidiary Varvee Energy, aims to sustain growth momentum.

Varvee Global Ltd announced the approval of its unaudited financial results for the quarter and half-year ended September 30, 2026. The Board of Directors, based on the recommendation of the Audit Committee, approved both standalone and consolidated results. A limited review report on these results was issued by M/s. Pankaj R Shah & Associates, Chartered Accountants. The board meeting commenced at 1:00 PM and concluded at 4:30 PM.

Varvee Global Limited (formerly Aarvee Denims & Exports Ltd) reported consolidated Q2 FY27 (quarter ended September 30, 2026) revenue from operations of ₹19.61 Cr, down 29.6% year-on-year from ₹27.83 Cr in Q2 FY26, and net profit of ₹6.79 Cr, down 33.5% YoY from ₹10.21 Cr. Sequentially the print looks far stronger — revenue rose 137% QoQ and the company swung from a ₹6.56 Cr net loss in Q1 FY27 to profit — but per the YoY-primary read, both the top line and bottom line are materially smaller than a year ago, and the composition of profit has shifted. Net profit margin (PAT/total income) compressed to 24.5% from 29.8% a year ago, and operating margin (EBITDA excluding other income, over revenue from operations) fell sharply to roughly 14.5% from 49.8% in Q2 FY26. The gap is explained by income mix: other income jumped to ₹8.07 Cr — 29% of total income — from ₹6.49 Cr a year ago, with management's own notes attributing part of this to gains on sale of property/plant (Note 5 records ₹2.02 Cr reduced from the company's held-for-sale asset block this quarter) and to temporary rent income from an MOU for additional factory use whose signed copy is still pending (Note 11). Strip out other income and core operating profit — revenue from operations (₹19.61 Cr) less total expenses (₹17.37 Cr) — was just ₹2.24 Cr for the quarter, meaning most of the reported ₹10.30 Cr pre-tax profit came from non-core items rather than the textile/trading business itself. There is no management guidance or prior concall commentary on record to grade this print against, and as a sub-₹100 Cr-revenue micro-cap mid-pivot, Varvee Global carries no visible street coverage — a web search for Q2 FY27 previews turned up none, so vsStreet is unknown rather than a miss or beat. The filing itself carries no press release or outlook commentary beyond the results. Alongside the result, the October 22 board meeting follows two equity-share-split approvals from September 25 (5:2 and 1:5) and continues the rebrand from Aarvee Denims & Exports to Varvee Global, consistent with the 2025-26 pivot away from denim manufacturing toward job-work, trading, leasing and digital-marketing revenue (notes confirm no finished-goods production this quarter). Consolidated figures equal standalone because the new subsidiary, Varvee Energy Private Limited (incorporated July 7, 2026), remains dormant with no funds infused yet. Going forward, the quarter's core run-rate — not the other-income-boosted total — is the number to watch: ₹2.24 Cr of operating profit on ₹19.61 Cr of revenue is a thin underlying margin for a company that posted a ~50% EBITDA margin on larger revenue a year ago. Whether the temporary rent arrangement converts into a recurring income stream, and whether the remaining ₹12.40 Cr held-for-sale asset block continues to generate disposal gains, will determine whether other income stays the primary profit driver into Q3 FY27.

Varvee Global Ltd has announced that its Board of Directors will convene on October 22, 2026. The primary agenda item is to consider and approve the Un-Audited Financial Results (Standalone & Consolidated) for the quarter and half-year ended September 30, 2026, along with the Auditor’s Limited Review Report. Additionally, the trading window for dealing in the company's securities will be closed from October 1, 2026, until 48 hours after the declaration of these financial results.

Varvee Global Ltd. announced the closure of its trading window for company securities, effective from Thursday, October 1, 2026. This closure, in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, is in anticipation of the declaration of unaudited financial results for the second quarter and half year ended September 30, 2026. The trading window will reopen 48 hours after these results are officially announced to the stock exchanges. The company will separately intimate the date of the Board Meeting for considering these financial results.