Akshar Spintex Ltd

Akshar Spintex Ltd has announced the closure of its trading window for dealing in the company's securities. This closure is effective from Monday, July 1, 2026, and will remain in effect until 48 hours after the declaration of the Unaudited Financial Results for the quarter ended June 30, 2026. The decision aligns with SEBI regulations and the company's internal code of conduct to prevent insider trading. Promoters, directors, key managerial personnel, designated employees, connected persons, and their immediate relatives are prohibited from trading during this period. The exact date of the board meeting to approve the financial results will be communicated separately.

Akshar Spintex Ltd has submitted a revised Quarterly Integrated Filing (Financial) for the quarter ended March 31, 2026, to correct inadvertent clerical errors. The revisions address an incorrect disclosure of related party transactions, specifically loans from directors, and a typographical error in a signing person's DIN. The company clarified that the actual loan amount from directors was ₹70.00 Lakhs and ₹50.00 Lakhs, not ₹700.00 Lakhs as initially reported. The correct DIN for Mr. Harikrishna Chauhan has also been provided. Akshar Spintex emphasizes that these corrections are purely clerical and do not impact the company's financial statements, position, or operations.

Akshar Spintex Ltd has filed a statement of deviation for the quarter ended March 31, 2026, concerning the utilization of funds raised through a Rights Issue. The company confirms that there is no deviation/variation in the use of funds. The amount raised through the right issue was ₹4874.81 Lakhs on 07.10.2024. The report indicates how funds were allocated to repay long-term unsecured loans, augment working capital, and cover corporate expenses.

Akshar Spintex Ltd has announced its integrated financial results for the year ended March 31, 2026. The company reported revenue from operations of ₹3,440.02 lakhs for the quarter ended March 31, 2026, and ₹11,728.12 lakhs for the year ended March 31, 2026. The company incurred a loss of ₹38.97 lakhs for the quarter and ₹738.94 lakhs for the year. The Board of Directors approved these results on May 21, 2026, with an unmodified audit opinion.

Akshar Spintex Ltd's Board of Directors approved the audited standalone financial results for the year ended March 31, 2026. The company reported revenue from operations of ₹11,728.12 lakhs and a net loss of ₹738.94 lakhs for the year. The results were reviewed by the Audit Committee and approved by the Board on May 21, 2026. The statutory auditors issued an unmodified audit opinion on the financial results.

Akshar Spintex Ltd. voluntarily paid a penalty of ₹5,15,660 to the Bombay Stock Exchange (BSE) for non-compliance with SEBI LODR regulations. The violations include a delay of 17 days in appointing a qualified Company Secretary and a delay of 84 days in maintaining the required number of directors on the Board. The penalty covers non-compliance with Regulations 6(1) and 17(1).

Akshar Spintex Ltd. faced penalties from the National Stock Exchange of India (NSE) for non-compliance with SEBI LODR Regulations 17(1)(c) and 6, related to the constitution of the Board of Directors and appointment of a Company Secretary. The company's waiver applications were rejected by the NSE, leading to a penalty of ₹5,15,660. The company paid the penalty on May 13, 2026, as advised by NSE. The violations include a delay of 17 days in appointing a qualified Company Secretary and an 84-day delay in ensuring the proper composition of the Board.

Akshar Spintex Ltd has scheduled a Board of Directors meeting on May 21, 2026, to consider and approve the audited standalone financial results for the quarter/half year/year ended March 31, 2026, along with the audit report. The meeting will be held at the company's registered office in Jamnagar, Gujarat.

Akshar Spintex Ltd. has announced the closure of its trading window for promoters, directors, key managerial personnel, designated employees, connected/designated persons, and their immediate relatives. The closure will be in effect from Tuesday, 1st April 2026, until the expiry of 48 hours after the declaration of Audited Financial Results for the half year and financial year ending on 31st March 2026. The reopening of the trading window will be announced after the aforesaid period. The board meeting date for the declaration of financial results is yet to be intimated.

Akshar Spintex Ltd. has approved a policy for determination of materiality of events as per Regulation 30 of SEBI (LODR), 2015. The policy will ensure disclosure of events / transaction/ information specified in Para A and B of Part A of Schedule III of the Listing Regulations to the Stock Exchanges. The criteria for determination of materiality of event or information under the Listing Regulations include the omission of an event or information that may result in discontinuity or alteration of event or information already available publicly, significant market reaction, or exceeding certain percentages of turnover, net worth, or average of absolute value of profit or loss after tax.