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NCLT Admits Scheme of Arrangement with Reid & Taylor; Next Hearing on Oct 28, 2026
The NCLT Chennai Bench has admitted the joint petition regarding the Scheme of Arrangement between Reid & Taylor International Private Limited and Digjam Limited. The order follows shareholder and creditor approvals evidenced by the Chairman's report dated August 16, 2026. The tribunal directed notices to regulatory authorities, giving a 30-day window for representations, and scheduled the next hearing for October 28, 2026. This merger is a critical strategic move for Digjam (TTM revenue of Rs 33 Cr) to restructure and exit financial distress, though it will dilute public shareholding from 25% to 5.48%.
Confidence: HIGH
What changedNCLT Chennai has formally admitted the merger petition and set a timeline for regulatory representations ahead of the October 28, 2026 hearing.
Why it mattersThe merger with Reid & Taylor is Digjam's core turnaround strategy to achieve scale and consolidate brands, but it involves significant public equity dilution.
Next NCLT hearing date: 28.10.2026Chairman's report date: 16.08.2026Regulatory response window: 30 daysAffidavit proof of service timeline: 7 days
📅 Short termProgress through NCLT is a positive milestone; the stock may react to regulatory filings or objections leading up to the October 28 hearing.
📈 Long termSuccessful execution of the scheme would integrate Reid & Taylor's business into Digjam, potentially altering its balance sheet profile and severe D/E of 13.6x.
⚠ Risk flags
- Significant dilution of public shareholding from 25% down to 5.48%
- Pending approvals from regulators including SEBI, Income Tax, and Regional Director
Key Highlights
NCLT Chennai admitted the petition under Sections 230-232 via order dated September 2, 2026
Shareholder and creditor approval recorded via Chairman's report dated August 16, 2026
Regulatory authorities given 30 days to submit representations on the proposed scheme
Next hearing for final scheme consideration scheduled for October 28, 2026
👀 What to Watch
Track the outcome of the October 28, 2026 NCLT hearing and look out for any objections raised by sectoral regulators or tax authorities within the 30-day notice window.
NCLT Admits Scheme Petition for Reid & Taylor Merger with Digjam; Next Hearing Oct 28, 2026
The NCLT Chennai Bench has admitted the second motion petition for the proposed Scheme of Arrangement involving the demerger/merger between Reid & Taylor International Private Limited and Digjam Limited. This follows the Chairman's report dated August 16, 2026, confirming shareholder and creditor approvals. The Tribunal has directed notices to statutory authorities with a 30-day representation window and scheduled the next hearing for October 28, 2026. Structurally, this merger is Digjam's core turnaround strategy, though it is expected to dilute public shareholding from 25.0% down to 5.48%.
Confidence: HIGH
What changedNCLT Chennai has formally admitted the merger petition and set a timeline for regulatory representations and the next hearing.
Why it mattersThe amalgamation with Reid & Taylor is the primary restructuring and turnaround catalyst for Digjam (TTM revenue of Rs 33 Cr, net worth of Rs 4 Cr), aimed at resolving historical distress and combining brand portfolios.
Next NCLT hearing date: 28th October 2026Regulatory response window: 30 daysChairman's report date: 16th August 2026Current public shareholding: 25.0%Expected post-scheme public shareholding: 5.48%
📅 Short termThe stock will likely trade around newsflow regarding regulatory representations from SEBI, RoC, and Income Tax ahead of the October 28, 2026 hearing.
📈 Long termIf sanctioned, the scheme provides operational scale and brand consolidation with Reid & Taylor, but results in substantial dilution for existing public shareholders.
⚠ Risk flags
- Massive public equity dilution (dropping from 25% to 5.48%)
- High balance sheet leverage with current D/E at 13.6x
- Regulatory hurdles or delays during NCLT final sanction
Key Highlights
NCLT Chennai admitted the joint petition under Section 230-232 on September 2, 2026
Shareholder and creditor approval recorded via Chairman's report dated August 16, 2026
Statutory authorities given 30 days to file representations post-notice
Next NCLT hearing fixed for October 28, 2026
Merger scheme will dilute public shareholding significantly from 25.0% to 5.48%
👀 What to Watch
Track the outcome of the next NCLT hearing on October 28, 2026, and watch for any objections or representations filed by statutory authorities within the 30-day notice window.
Digjam Shareholders & Creditors Approve Reid & Taylor Merger Scheme with 98.99%+ Majority
Digjam Limited equity shareholders have approved the Scheme of Arrangement with Reid & Taylor International Private Limited (RTIL) at an NCLT-convened meeting on August 16, 2026. Excluding promoter shareholding, 98.99% of the 9,86,721 public votes polled were in favour of the resolution, while overall voting approval stood at 99.94%. Additionally, unsecured creditors of RTIL approved the scheme with requisite majority on the same date. The scheme now moves to the Hon'ble NCLT Chennai Bench for final sanction.
Confidence: HIGH
What changedShareholders of Digjam and unsecured creditors of RTIL have officially approved the Scheme of Arrangement, clearing a major milestone toward combining Reid & Taylor's business into Digjam.
Why it mattersThe merger represents the cornerstone of Digjam's corporate turnaround and brand consolidation strategy, aiming to scale revenue beyond its current ₹33 Cr TTM base.
Public votes in favour: 98.99%Total votes in favour (incl. promoters): 99.94%Total public votes polled: 9,86,721Meeting cut-off date: August 10, 2026
📅 Short termPositive sentiment from passing a major procedural hurdle; trading focus moves to the filing of the petition for final NCLT approval.
📈 Long termThe integration of RTIL into Digjam represents a structural business overhaul, though it will result in significant equity dilution for existing public shareholders down to 5.48%.
⚠ Risk flags
- Pending final sanction from the Hon'ble NCLT, Chennai Bench
- Significant public equity dilution post-merger (expected public float drop to 5.48%)
Key Highlights
98.99% of non-promoter votes (9,76,777 votes) polled in favour of the Scheme of Arrangement
Overall shareholder approval stood at 99.94% with 1,57,97,742 votes in favour
Total 32,566 shareholders were registered on the cut-off date of August 10, 2026
Unsecured creditors of Reid & Taylor International Private Limited also approved the scheme on August 16, 2026
👀 What to Watch
Track the upcoming hearing dates and final sanction order from the Hon'ble NCLT Chennai Bench regarding the scheme.
Digjam Concludes NCLT-Convened Shareholder Meeting on Reid & Taylor Merger Scheme
Digjam Limited held its NCLT-convened equity shareholders meeting on August 16, 2026, to seek approval for the proposed Scheme of Arrangement with Reid & Taylor International Private Limited (RTIL). The scrutinizer report and official e-voting results are scheduled to be disclosed on or before August 18, 2026. The transaction is Digjam's primary strategic restructuring initiative to combine suiting operations and turnaround the business (which posted TTM revenue of ₹33 Cr and net loss of ₹1 Cr against ₹60 Cr debt). If sanctioned, the restructuring is slated to dilute public shareholding from 25.0% down to 5.48%.
Confidence: HIGH
What changedDigjam has successfully conducted the court-convened shareholder vote on its corporate restructuring and merger with Reid & Taylor International.
Why it mattersThe merger with RTIL is central to Digjam's survival and growth strategy, aimed at revitalizing its worsted fabric business and restructuring a balance sheet with ₹60 Cr debt on a ₹4 Cr net worth base.
Meeting Date: August 16, 2026Voting Results Due Date: August 18, 2026Dispatch Cut-off Date: July 3, 2026Company TTM Revenue: ₹33 CrCompany Debt-to-Equity: 13.60x
📅 Short termMarket focus will be on the voting outcome disclosure expected by August 18, 2026, to confirm shareholder approval levels.
📈 Long termIf cleared by the NCLT, the combination with Reid & Taylor will structurally scale brand assets and operations, though existing minority shareholders face substantial equity dilution.
⚠ Risk flags
- Significant equity dilution (public holding expected to drop to 5.48%)
- Final approval remains subject to NCLT sanction and regulatory clearances
- High balance sheet leverage with ₹60 Cr debt against ₹4 Cr net worth
Key Highlights
NCLT-directed shareholder meeting concluded on August 16, 2026, for the Scheme of Arrangement with RTIL.
Voting outcome and Scrutinizer Report to be submitted on or before August 18, 2026.
Meeting convened pursuant to the NCLT Chennai Bench order dated June 19, 2026.
Notice dispatch was executed based on the cut-off date of July 3, 2026.
👀 What to Watch
Track the e-voting results announcement due by August 18, 2026, followed by the timeline for final NCLT bench sanction hearings.
Digjam Q1 FY27: Net Profit of ₹0.82 Cr; Jamnagar Plant Remains Shut with ₹21 Cr Capital Deficit
Digjam Limited reported a total comprehensive profit of ₹0.83 Cr for Q1 FY27, down from ₹0.96 Cr in the year-ago period. Revenue from continuing operations grew 89% YoY to ₹7.46 Cr, though the company's sole manufacturing facility in Jamnagar has been discontinued since March 2025. A significant liquidity risk persists as current liabilities exceed current assets by ₹21.08 Cr, leading to a 'material uncertainty' warning from auditors regarding the company's ability to continue as a going concern. The company is currently dependent on a pending merger with Reid & Taylor International and the sale of non-core assets valued at ₹53.19 Cr.
Confidence: HIGH
What changedThe company has reported a marginal profit despite its primary manufacturing plant being shut down for over a year, while auditors have reiterated a material uncertainty regarding its going concern status.
Why it mattersWith a debt-to-equity ratio of 13.6 and a significant working capital deficit, the company's survival is structurally tied to the successful execution of the Reid & Taylor merger and asset liquidation.
Revenue (Q1 FY27): ₹7.46 CrNet Profit (Q1 FY27): ₹0.82 CrWorking Capital Deficit: ₹21.08 CrAssets Held for Sale: ₹53.19 CrRevenue vs TTM Revenue: 22.6%
📅 Short termThe stock may face pressure due to the auditor's emphasis on material uncertainty and the continued closure of the Jamnagar plant, despite the reported quarterly profit.
📈 Long termThe long-term viability depends entirely on the Reid & Taylor brand consolidation and the company's ability to restructure its cost base and exit its stressed financial state.
⚠ Risk flags
- Material uncertainty on going concern
- Discontinued manufacturing operations
- Severe working capital deficit (₹21.08 Cr)
- High Debt-to-Equity ratio (13.6)
Key Highlights
Revenue from continuing operations rose to ₹7.46 Cr in Q1 FY27 from ₹3.95 Cr in Q1 FY26.
Net profit for the quarter stood at ₹0.82 Cr, supported by a reduction in finance costs to near zero from ₹0.70 Cr YoY.
Current liabilities exceed current assets by ₹21.08 Cr as of June 30, 2026.
Jamnagar manufacturing facility remains discontinued with assets held for sale valued at ₹53.19 Cr.
The proposed merger with Reid & Taylor International (RTIL) remains pending regulatory approvals with an appointed date of July 1, 2025.
👀 What to Watch
Investors should closely monitor the regulatory approval timeline for the Reid & Taylor merger and the progress of the Jamnagar asset sale, which are critical to resolving the company's liquidity crisis.
₹0.82 Cr Net Profit in Q1 FY27; Jamnagar Plant Discontinued; Merger with RTIL Pending
Digjam Limited reported a net profit of ₹0.82 Cr for Q1 FY27, a decrease from ₹0.96 Cr in the year-ago period, despite revenue growing 88.7% to ₹7.46 Cr. The company faces severe liquidity pressure, with current liabilities exceeding current assets by ₹21.08 Cr, which is over 5x its reported net worth of ₹4 Cr. Operations at the Jamnagar manufacturing facility remain discontinued since March 31, 2025, with assets worth ₹53.19 Cr classified as held for sale. The auditor has highlighted material uncertainty regarding the company's ability to continue as a going concern, pending the successful execution of a merger with Reid & Taylor International (RTIL).
Confidence: HIGH
What changedThe company reported its Q1 FY27 results, confirming that manufacturing remains suspended and the liquidity deficit persists despite a year-on-year revenue increase.
Why it mattersThe company is currently in a state of financial distress with a 'going concern' warning; its future depends on a structural shift from manufacturing to a brand-led model through the RTIL merger.
Q1 Revenue: ₹7.46 CrQ1 Net Profit: ₹0.82 CrWorking Capital Deficit: ₹21.08 CrAssets Held for Sale: ₹53.19 CrDeficit vs Net Worth: 527%
📅 Short termThe stock may remain volatile due to the auditor's emphasis on material uncertainty and the ongoing suspension of manufacturing operations.
📈 Long termThe long-term viability is tied to the successful integration of Reid & Taylor and the ability to deleverage through asset sales; otherwise, the business remains at high risk.
⚠ Risk flags
- Material uncertainty on going concern
- Negative working capital of ₹21.08 Cr
- Discontinued manufacturing operations
- High Debt-to-Equity ratio of 13.6
Key Highlights
Revenue from operations increased to ₹7.46 Cr in Q1 FY27 from ₹3.95 Cr in Q1 FY26.
Net profit for the quarter stood at ₹0.82 Cr compared to ₹0.96 Cr in the previous year's corresponding quarter.
Current liabilities exceed current assets by ₹2,107.75 lakhs (₹21.08 Cr) as of June 30, 2026.
Jamnagar manufacturing facility assets are classified as 'Held for Sale' with a carrying value of ₹5,318.53 lakhs (₹53.19 Cr).
The proposed merger with Reid & Taylor International Private Limited (RTIL) has an appointed date of July 1, 2025, pending final approvals.
👀 What to Watch
Investors should closely monitor the regulatory approval timeline for the Reid & Taylor merger and the progress of the Jamnagar asset sale, as these are essential for resolving the company's liquidity crisis.
Aug 16 Meeting Set for Digjam-Reid & Taylor Merger Approval
Digjam Limited has scheduled a shareholder meeting on August 16, 2026, to vote on the Scheme of Arrangement with Reid & Taylor International Private Limited (RTIL). This merger is the company's primary strategy to exit its stressed financial state, characterized by a high debt-to-equity ratio of 13.60 and low TTM revenue of Rs 33 Cr. The scheme requires approval from a 75% majority in value of shareholders and a 'majority of minority' from public shareholders. Post-merger, public shareholding is expected to drop significantly from 25% to 5.48%.
Confidence: HIGH
What changedThe company has formalized the shareholder approval process for its merger with Reid & Taylor, following an NCLT order dated June 19, 2026.
Why it mattersThis merger is a survival and restructuring move intended to resolve severe liquidity constraints and operational instability that have previously led to production halts.
Meeting Date: August 16, 2026Cut-off Date: August 10, 2026Post-merger Public Float: 5.48%Debt-to-Equity Ratio: 13.60TTM Revenue: Rs 33 Cr
📅 Short termThe stock may see volatility leading up to the August 16 meeting as shareholders weigh the benefits of the merger against the massive equity dilution.
📈 Long termThe merger is structurally significant as it aims to consolidate brands and exit financial stress, but the extremely low public float and high debt levels remain long-term risks.
⚠ Risk flags
- Severe equity dilution (public float drops to 5.48%)
- High debt-to-equity ratio (13.60)
- Liquidity constraints impacting raw material procurement
Key Highlights
Shareholder meeting scheduled for August 16, 2026, at 11:00 AM IST via video conferencing.
Cut-off date for determining voting eligibility is August 10, 2026.
Remote e-voting period runs from August 13 (9:00 AM) to August 15, 2026 (5:00 PM).
Public shareholding in Digjam will decrease from 25% to 5.48% following the merger.
Approval requires a three-fourths (75%) majority in value of the equity shareholders.
👀 What to Watch
Monitor the voting results on August 16 and the subsequent NCLT sanctioning process. Investors should evaluate the impact of the extreme dilution of public shareholding to 5.48% against the potential business synergies with Reid & Taylor.
Digjam to Hold Aug 16 Meeting for Reid & Taylor Merger; 46,481:100 Share Swap Ratio
Digjam Limited is convening an NCLT-directed shareholder meeting on August 16, 2026, to approve its merger with Reid & Taylor International Private Limited (RTIL). The proposed share exchange ratio is 46,481 Digjam shares for every 100 RTIL shares. While total public shareholding will marginally increase to 25.03%, the stake of existing Digjam public shareholders will be significantly diluted from 25% to 5.48%. This merger is a critical strategic move for Digjam, which currently faces high debt of ‡60 Cr against a small net worth of ‡4 Cr.
Confidence: HIGH
What changedThe company has moved to the formal shareholder approval stage for its merger with Reid & Taylor International, following an NCLT order dated June 19, 2026.
Why it mattersThis merger is the central strategy for Digjam to stabilize its market position in the premium suiting segment and overcome severe liquidity constraints that have previously led to production halts.
Share Exchange Ratio: 46,481:100Existing Public Stake: 25%Diluted Stake of Current Public Holders: 5.48%Debt to Equity Ratio (Pre-merger): 13.60TTM Revenue: ‡33 Cr
📅 Short termThe stock may see volatility leading up to the August 16 meeting as investors digest the significant dilution of existing public holdings versus the potential value of the Reid & Taylor brand.
📈 Long termThe merger represents a structural shift to consolidate the textile business; success depends on achieving operational synergies and improving the current low ROCE of 5.2%.
⚠ Risk flags
- Significant dilution for existing public shareholders (25% to 5.48%)
- High debt-to-equity ratio of 13.60
- History of liquidity-driven production halts
Key Highlights
Share exchange ratio set at 46,481 equity shares of Digjam for every 100 shares of RTIL
Existing public shareholders' stake to be diluted from 25% to 5.48% post-scheme
Total post-merger public shareholding will be 25.03%, including 19.55% held by RTIL's QIBs
NCLT-convened meeting scheduled for August 16, 2026, with a voting cut-off date of August 10, 2026
Consolidation aims to integrate the textile business and leverage brand synergies to exit financial distress
👀 What to Watch
Investors should monitor the voting results of the August 16 meeting and subsequent NCLT final approval. The key factor to watch is whether the consolidated entity can improve its OPM (currently 9.6%) and manage its high debt-to-equity ratio of 13.6.
NCLT Admits Digjam and Reid & Taylor Demerger Scheme; Meetings Ordered
The NCLT Chennai Bench has admitted the Scheme of Arrangement for demerging the textile business of Reid & Taylor International into Digjam Limited. This consolidation aims to create a fully integrated textile entity, optimizing resources, specialized skills, and administrative expenses. The Tribunal has directed Digjam to convene meetings of its equity shareholders to vote on the proposal, marking a significant step in the restructuring process. The merger is expected to enhance long-term value for shareholders through operational synergies and economies of scale.
Key Highlights
NCLT Chennai Bench admitted the joint application for the demerger scheme on June 19, 2026.
The scheme involves transferring the 'Textile Business' of Reid & Taylor International to Digjam Limited.
Digjam has an authorized share capital of 100.05 crore equity shares and 27 crore preference shares.
The Tribunal directed convening meetings for Digjam's equity shareholders and Reid & Taylor's unsecured creditors.
👀 What to Watch
Investors should monitor the upcoming shareholder meeting dates and vote on the scheme. The consolidation with Reid & Taylor's textile assets could significantly improve Digjam's market positioning and operational efficiency.
NCLT Admits Digjam-Reid & Taylor Scheme of Arrangement; Directs Shareholder Meetings
The National Company Law Tribunal (NCLT), Chennai Bench, has admitted the joint application for a Scheme of Arrangement between Digjam Limited and Reid & Taylor International Private Limited. The tribunal has directed Digjam to convene a meeting of its equity shareholders to consider and approve the demerger of the 'Textile Business' from Reid & Taylor into Digjam. This consolidation is designed to optimize resources, achieve economies of scale, and create a fully integrated textile entity. Shareholders of Reid & Taylor will be allotted shares in Digjam as part of the arrangement, which will be subsequently listed.
Key Highlights
NCLT Chennai Bench admitted the joint application for the Scheme of Arrangement on June 19, 2026.
The scheme involves demerging the 'Textile Business' of Reid & Taylor International into Digjam Limited.
Digjam is directed to convene a meeting of its equity shareholders to vote on the proposed arrangement.
Reid & Taylor has 4 equity shareholders and 13 unsecured creditors involved in the procedural directions.
The consolidation aims to optimize cash flows and specialized skills within a single integrated entity to improve profitability.
👀 What to Watch
Investors should monitor the outcome of the upcoming shareholder meeting and the final NCLT sanction for the demerger. The integration of the Reid & Taylor textile business could significantly enhance Digjam's market position and operational efficiency.
Digjam Ltd FY26 Loss of ₹97.90 Lakhs; Auditors Flag Going Concern Uncertainty
Digjam Limited reported a total comprehensive loss of ₹97.90 lakhs for the financial year ended March 31, 2026. The statutory auditors have issued a 'Material Uncertainty Related to Going Concern' warning, noting that current liabilities exceed current assets by ₹2,191.48 lakhs. Operations at the company's sole manufacturing facility in Jamnagar have been discontinued since March 2025, with assets worth ₹5,318.53 lakhs now classified as held for sale. The board has also appointed new internal and cost auditors for the 2026-27 fiscal year to oversee compliance during this restructuring phase.
Key Highlights
Total comprehensive loss of ₹97.90 lakhs reported for the financial year ended March 31, 2026.
Significant liquidity gap as current liabilities exceed current assets by ₹2,191.48 lakhs.
Jamnagar manufacturing facility remains shut since March 2025, with ₹5,318.53 lakhs in assets held for sale.
Statutory auditors highlighted material uncertainty regarding the company's ability to continue as a going concern.
Appointed M/s. G. M. Kapadia & Co. as Internal Auditor and M/s. K.G. Goyal & Co. as Cost Auditor for FY 2026-27.
👀 What to Watch
Investors should exercise extreme caution given the auditor's going concern warning and the lack of active manufacturing operations. The company's survival depends heavily on the successful liquidation of non-core assets and strategic restructuring.
Digjam Ltd Reports FY26 Loss of ₹97.90 Lakhs; Auditors Raise Going Concern Uncertainty
Digjam Limited reported a total comprehensive loss of ₹97.90 lakhs for the financial year ended March 31, 2026. The statutory auditors have issued a 'Material Uncertainty Related to Going Concern' warning as current liabilities exceed current assets by ₹2,191.48 lakhs. Furthermore, the company's sole manufacturing facility in Jamnagar has been discontinued since March 2025, with assets worth ₹5,318.53 lakhs now classified as held for sale. The board has also appointed new internal and cost auditors for the 2026-27 fiscal year.
Key Highlights
Total comprehensive loss of ₹97.90 lakhs recorded for the financial year ended March 31, 2026
Current liabilities exceed current assets by ₹2,191.48 lakhs as of year-end
Jamnagar manufacturing facility discontinued; assets worth ₹5,318.53 lakhs held for sale
M/s. G. M. Kapadia & Co. appointed as Internal Auditor for FY 2026-27
Auditors highlighted significant doubt on the company's ability to continue as a going concern
👀 What to Watch
Investors should exercise extreme caution given the 'Going Concern' warning and the halt in manufacturing operations. The company's survival depends heavily on the successful monetization of non-core assets and strategic restructuring.
Digjam Ltd FY26 Loss at ₹97.90 Lakh; Auditor Issues Going Concern Warning
Digjam Limited reported a total comprehensive loss of ₹97.90 lakhs for the fiscal year ended March 31, 2026. The company's financial position is strained, with current liabilities exceeding current assets by ₹2,191.48 lakhs. Operations at its sole manufacturing facility in Jamnagar have been discontinued since March 2025, and assets worth ₹5,318.53 lakhs are currently classified as held for sale. Due to these factors, the statutory auditors have highlighted a material uncertainty regarding the company's ability to continue as a going concern.
Key Highlights
Reported a total comprehensive loss of ₹97.90 lakhs for the financial year ended March 31, 2026.
Current liabilities exceed current assets by a significant margin of ₹2,191.48 lakhs.
Manufacturing operations at the Jamnagar facility remain discontinued since March 31, 2025.
Assets valued at ₹5,318.53 lakhs are classified as 'Non-Current Assets Held for Sale' for strategic restructuring.
Statutory auditors issued a 'Material Uncertainty Related to Going Concern' warning in their report.
👀 What to Watch
Investors should exercise extreme caution as the 'Going Concern' warning and discontinued manufacturing operations indicate high fundamental risk. The company's survival is heavily dependent on the successful realization of non-core assets and strategic restructuring.
Digjam Shareholders Approve Material Related Party Transactions and Borrowing Limits
Digjam Limited has announced the successful passage of four key resolutions via postal ballot. Shareholders approved material related party transactions for FY 2026-27 with Reid & Taylor International and Finquest Financial Solutions. Additionally, the company received approval to increase borrowing limits and create charges on its assets to secure future funding. The resolutions were passed with unanimous support from the votes polled, facilitating the company's financial and operational plans for the upcoming fiscal year.
Key Highlights
Approved material Related Party Transactions with Reid & Taylor International for FY 2026-27
Authorized creation of charges/mortgages and borrowing limits under Section 180 of the Companies Act
All resolutions passed with 100% of votes in favor from participating shareholders
Promoter group holds 1.5 crore shares, representing 75% of the total 2 crore shares
👀 What to Watch
Investors should monitor the company's debt levels following the increased borrowing limits and ensure related party transactions are conducted at arm's length.
Digjam Shareholders Approve Material RPTs and New Borrowing Limits for FY 2026-27
Digjam Limited has announced the results of a postal ballot where shareholders approved several key financial and operational resolutions for the 2026-27 fiscal year. The approvals include material related party transactions with Reid & Taylor International and Finquest Financial Solutions, along with the Patel family. Furthermore, the company secured special resolutions to increase borrowing limits and create charges or mortgages on its undertakings. These approvals provide the company with the legal and financial framework to manage its debt and operational partnerships in the upcoming year.
Key Highlights
Shareholders approved material related party transactions with Reid & Taylor International Private Limited for FY 2026-27.
Approval granted for transactions with Finquest Financial Solutions and the Patel family (Hardik, Ruchit, and Minal Patel).
Special resolution passed for the creation of charges/mortgages on company undertakings under Section 180(1)(a).
Shareholders authorized borrowing limits for the company under Section 180(1)(c) of the Companies Act, 2013.
👀 What to Watch
Investors should monitor the volume of related party transactions in upcoming quarterly reports to ensure they remain at arm's length. The approval of borrowing limits and asset charges indicates potential capital requirements that may impact the company's leverage ratio.
Digjam Shareholders Approve Material Related Party Transactions and Borrowing Limits
Digjam Limited shareholders have approved four key resolutions via postal ballot, including material related party transactions (RPT) for the 2026-27 financial year. The transactions involve Reid & Taylor International and Finquest Financial Solutions, both receiving over 99.5% approval from voting public shareholders. Additionally, the company secured approval to create charges on its assets and established new borrowing limits under Section 180 of the Companies Act. These approvals provide the necessary legal and financial framework for the company's operations and potential debt requirements in the upcoming fiscal year.
Key Highlights
Material RPT with Reid & Taylor International for FY 2026-27 approved with 99.55% favor from public voters.
RPT with Finquest Financial Solutions and the Patel family approved with 99.61% majority from public shareholders.
Special resolution for creating charges/mortgages on company assets passed with 99.97% total votes in favor.
Borrowing limits under Section 180(1)(c) approved with 1.5 crore promoter votes and 95.77% public favor.
Promoter group abstained from voting on RPT resolutions where they were interested parties, as per regulatory requirements.
👀 What to Watch
Investors should monitor the volume of transactions with Reid & Taylor and Finquest in future filings to ensure they are conducted at arm's length. The approval of borrowing limits suggests the company may be looking to raise capital or refinance existing debt.
Digjam Ltd Seeks Approval for ₹50 Cr Related Party Transactions and New Borrowing Limits
Digjam Limited has issued a postal ballot notice to seek shareholder approval for material related party transactions (RPT) and financial authorizations for FY 2026-27. A major resolution involves transactions with Reid & Taylor International Private Limited for an aggregate value of up to ₹50 Crore. The company is also seeking approval for RPTs with Finquest Financial Solutions and members of the promoter group (Patel family). Additionally, special resolutions are proposed to establish borrowing limits and authorize the creation of charges on company assets to secure future debt obligations.
Key Highlights
Proposed material RPT with Reid & Taylor International Private Limited up to ₹50 Crore for FY 2026-27.
Approval sought for RPTs with Finquest Financial Solutions and promoter group members Hardik, Ruchit, and Minal Patel.
Special resolutions proposed for borrowing limits under Section 180(1)(c) and creation of charges under Section 180(1)(a).
E-voting period is scheduled from February 25, 2026, to March 26, 2026.
Results of the postal ballot are expected to be announced on or before March 30, 2026.
👀 What to Watch
Investors should monitor the voting results to ensure minority shareholders approve of the significant RPTs and evaluate the company's future debt plans. Review the explanatory statement to confirm that the ₹50 Crore RPT is conducted at arm's length.
Digjam Q3 FY26 Net Profit at ₹51.22 Lakhs; New Company Secretary Appointed
Digjam Limited reported a net profit of ₹51.22 lakhs for Q3 FY26, recovering from a loss of ₹174.29 lakhs in the preceding quarter. Total income for the quarter was ₹703.52 lakhs, showing growth from ₹535.58 lakhs in the same period last year. The company appointed Mr. Ritesh Krishna Kumar Mishra as the new Company Secretary following the resignation of Ms. Daman Preet Kaur. Management highlighted a working capital deficit of ₹2,120.15 lakhs but remains confident due to an ongoing demerger scheme with Reid and Taylor International.
Key Highlights
Reported a net profit of ₹51.22 lakhs vs a loss of ₹174.29 lakhs in the previous quarter
Revenue from operations increased to ₹698.09 lakhs from ₹535.18 lakhs year-on-year
Current liabilities exceed current assets by ₹2,120.15 lakhs as of December 31, 2025
Ongoing Scheme of Arrangement for demerger of Reid and Taylor International's textile unit into Digjam
Mr. Ritesh Krishna Kumar Mishra appointed as CS and Compliance Officer effective February 05, 2026
👀 What to Watch
Investors should monitor the execution of the Reid and Taylor demerger and the management's plan to resolve the working capital gap. The shift back to profitability is encouraging, but the underlying liquidity concerns require a cautious approach.
Digjam Q3 Revenue Rises 30% to ₹6.98 Cr; Net Profit Declines to ₹0.51 Cr
Digjam Limited reported a 30.4% YoY increase in revenue from continued operations to ₹698.09 lakhs for the quarter ended December 31, 2025. However, total net profit for the period fell to ₹51.22 lakhs from ₹152.17 lakhs in the previous year, impacted by losses in discontinued operations. The company faces a significant working capital deficit of ₹2,120.15 lakhs, though management remains confident in a turnaround through a proposed demerger with Reid and Taylor International. Additionally, the company appointed Mr. Ritesh K. Mishra as the new Company Secretary and Compliance Officer.
Key Highlights
Revenue from operations grew 30.4% YoY to ₹698.09 lakhs in Q3 FY26.
Net profit for the quarter stood at ₹51.22 lakhs, a sharp decline from ₹152.17 lakhs in the same quarter last year.
Current liabilities exceed current assets by ₹2,120.15 lakhs as of December 31, 2025.
The company is awaiting regulatory approvals for the demerger of Reid and Taylor International's textile unit into Digjam.
Mr. Ritesh K. Mishra appointed as Company Secretary & Compliance Officer effective February 05, 2026.
👀 What to Watch
Investors should closely monitor the progress of the Reid and Taylor demerger and the company's ability to liquidate assets worth ₹5,318.53 lakhs to address its working capital deficit. The stock remains a speculative turnaround candidate given the ongoing restructuring and discontinued manufacturing at Jamnagar.
Digjam Q3 Net Profit at ₹51.22 Lakhs; Revenue from Continued Ops Up 30% YoY
Digjam Limited reported a net profit of ₹51.22 lakhs for Q3 FY26, a significant decrease from ₹152.17 lakhs in the previous year's corresponding quarter. Revenue from continued operations showed strength, growing 30.4% YoY to ₹698.09 lakhs, though discontinued operations weighed on the bottom line. The company is currently managing a working capital deficit of ₹2,120.15 lakhs but is banking on a proposed scheme of arrangement with Reid and Taylor International. Additionally, the board has appointed Mr. Ritesh Krishna Kumar Mishra as the new Company Secretary and Compliance Officer.
Key Highlights
Revenue from continued operations increased to ₹698.09 lakhs in Q3 FY26 from ₹535.18 lakhs in Q3 FY25.
Total net profit for the quarter fell to ₹51.22 lakhs compared to ₹152.17 lakhs in the same period last year.
Current liabilities exceed current assets by ₹2,120.15 lakhs, though the company maintains a positive net worth.
The company is progressing with a Scheme of Arrangement to demerge the textile undertaking of Reid and Taylor International into Digjam.
Mr. Ritesh Krishna Kumar Mishra appointed as Company Secretary & Compliance Officer effective February 05, 2026.
👀 What to Watch
Investors should closely monitor the regulatory approvals for the Reid and Taylor merger, as it is a critical catalyst for the company's future scale. The working capital deficit and reliance on asset sales for liquidity remain key risk factors to track.
