Manomay Tex India Approves Director Re-appointments, New Independent Directors & Expansion Plans
Manomay Tex India's Board re-appointed Maheshchandra Kailashchandra Laddha as Whole-time Director. It also appointed Manishkumar Balkrishna Porwal, Satya Narayan Maheshwari, and Mahendra Singh Rana as Independent Directors. The company approved significant expansion in Denim and Spinning divisions, increasing fabric capacity by 10 million meters and yarn capacity by 1,080 MT annually. The 17th AGM is scheduled for September 29, 2026.
The appointment of new directors and expansion plans are positive developments. However, the immediate financial impact is not quantified, and the expansion is a future-oriented plan.
The announcement details positive developments including re-appointment of a director, appointment of new independent directors, and significant expansion plans which are expected to improve revenue and profitability.
Manomay Tex India Limited's Board of Directors convened on August 31, 2026, to approve several key decisions. Mr. Maheshchandra Kailashchandra Laddha was re-appointed as Whole-time Director for a further period of three years, effective August 9, 2027, to August 8, 2030, subject to member approval.
The Board also approved the appointment of three new Additional Independent Directors: Mr. Manishkumar Balkrishna Porwal, Mr. Satya Narayan Maheshwari, and Mr. Mahendra Singh Rana, each for an initial term of five years, effective September 2, 2026, also pending shareholder approval.
In significant business development, the company approved a major expansion in its Denim (Fabric) and Spinning (Yarn) divisions. The denim expansion includes new machinery for RFD (Ready for Dyeing) lines, expected to increase fabric capacity by 10 million meters per year. The spinning division will see the installation of new spindles to enhance yarn production capacity by approximately 1,080 MT per year.
Furthermore, the Board approved the re-constitution of various committees, including the Nomination and Remuneration Committee, Audit Committee, Stakeholder Relationship Committee, Corporate Social Responsibility Committee, and Internal Complaint Committee, effective September 2, 2026. The company also approved the Board of Directors' Report and the Notice of the 17th Annual General Meeting (AGM), which is scheduled for September 29, 2026, at 1:00 PM IST at the company's registered office. The Register of Members and Share Transfer Books will be closed from September 23 to September 29, 2026, for the AGM.
A plain-language summary of a public exchange filing by Manomay Tex India Limited. Read the original for the full detail.