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Varvee Global to Hold 37th AGM on Sept 30, 2026; Seeks Approval for Rs 50 Cr RPTs
Varvee Global Limited (formerly Aarvee Denims and Exports Limited) has issued notice for its 37th Annual General Meeting scheduled for September 30, 2026. Key special business items include shareholder approval for material related-party transactions (RPTs) for FY27, including limits up to Rs. 50 crore each with entities like Yarn Syndicate Limited, Stitched Textiles Limited, and Brand Cluster LLP. The Rs. 50 crore RPT ceiling per entity is substantial compared to the company's TTM revenue of ~Rs 23 crore. Remote e-voting runs from September 26 to September 29, 2026, with a cut-off date of September 23, 2026.
Confidence: HIGH
What changedFormal notification of the 37th AGM date, e-voting calendar, and agenda items including large-scale related-party transaction limits for FY27.
Why it mattersThe requested related-party limits (Rs. 50 crore each) are more than double the company's entire TTM revenue (Rs 23 crore), indicating significant reliance on related entities for future operations and supply chain expansion.
AGM Date: 30th September, 2026E-voting Cut-off Date: 23rd September, 2026RPT Limit per Entity: Rs. 50 croreRPT Limit vs TTM Revenue: ~217%
📅 Short termShareholders of record as of September 23, 2026, will be eligible to cast votes on the proposed resolutions ahead of the September 30 meeting.
📈 Long termMaterial transaction volumes with promoter/director-linked entities will require close monitoring regarding corporate governance, arm's length pricing, and margin realization.
⚠ Risk flags
- Significant volume of related-party transactions (up to Rs. 50 crore each vs TTM revenue of Rs. 23 crore)
- Operating profitability remains negative with FY25 OPM at -245.3%
Key Highlights
37th AGM scheduled for Wednesday, September 30, 2026, via Video Conferencing.
Cut-off date for e-voting eligibility set to September 23, 2026; remote e-voting active September 26-29, 2026.
Seeking approval for FY27 material related-party transactions of up to Rs. 50 crore each with Yarn Syndicate, Stitched Textiles, and Brand Cluster LLP.
Proposed Brand Cluster LLP transaction represents 60.55% of relevant preceding turnover, funded via internal accruals and proposed fund raises.
👀 What to Watch
Track the outcome of shareholder voting on September 30, 2026, particularly on the approval and terms of the high-value related-party transactions.
VGL Appoints CMD Jaimin Gupta as CFO; Company Secretary Resigns
Varvee Global Limited (formerly Aarvee Denims) has appointed its Chairman and Managing Director, Mr. Jaimin Gupta, as the Chief Financial Officer (CFO) effective July 29, 2026. This move consolidates leadership as the company navigates a turnaround from a TTM loss of ₹1 Cr and a negative OPM of -245.3%. Concurrently, Mrs. Abira Mansuri has resigned from her role as Company Secretary and Compliance Officer to pursue other opportunities. The management changes come as the company, with a market cap of ₹142 Cr, attempts to pivot from denim to non-denim products.
Confidence: HIGH
What changedThe company's Chairman and Managing Director has assumed the additional role of CFO, and the head of compliance has departed.
Why it mattersFor a small-cap company (₹142 Cr) in a financial turnaround, leadership stability is vital. Combining the CMD and CFO roles can streamline decision-making but also reduces the traditional separation of oversight and execution.
CFO Experience: 9 yearsTTM Revenue: ₹23 CrMarket Cap: ₹142 CrOperating Profit Margin: -245.3%
📅 Short termThe market is likely to view this as a routine administrative shuffle; however, the vacancy in the Compliance Officer role needs to be filled promptly to avoid regulatory friction.
📈 Long termThe success of the company depends on its pivot to non-denim products and scaling job work to 20 lakh meters/month. The effectiveness of the CMD in a dual CFO role will be tested by the company's ability to manage internal accruals for expansion.
⚠ Risk flags
- Concentration of authority (CMD and CFO roles combined)
- Vacancy in Company Secretary/Compliance Officer position
- History of significant operating losses
Key Highlights
Mr. Jaimin Gupta appointed as CFO effective July 29, 2026, while continuing as CMD.
Mrs. Abira Mansuri resigned as Company Secretary and Compliance Officer effective July 29, 2026.
New CFO Jaimin Gupta brings 9 years of experience in the textile industry, including a prior CEO role at Vaxtex Cotfab.
The board meeting was conducted in 15 minutes, starting at 06:20 P.M. and concluding at 06:35 P.M.
Company is currently operating on a TTM revenue base of ₹23 Cr with plans to scale capacity by 300-350%.
👀 What to Watch
Investors should monitor the appointment of a new Company Secretary to ensure regulatory compliance and observe if the consolidation of CMD and CFO roles affects the transparency of financial reporting during the company's pivot phase.
VGL incorporates renewable energy subsidiary with Rs 10 Lakh initial capital
Varvee Global Limited (VGL) has formally incorporated its wholly-owned subsidiary, Varvee Energy Private Limited, on July 7, 2026. The new entity is set to operate in the renewable energy sector, covering generation, transmission, distribution, and storage. VGL has subscribed to the initial paid-up capital of Rs 10,00,000 (Rs 10 Lakhs) in cash. This move marks a significant strategic diversification for the company, which currently generates Rs 23 Cr in TTM revenue from textile products.
Confidence: HIGH
What changedVGL has officially expanded its business scope beyond textiles by incorporating a dedicated renewable energy subsidiary.
Why it mattersThis represents a major strategic shift into a capital-intensive sector; while the initial investment is small, the long-term capital requirements for energy projects could significantly alter the company's financial profile.
Initial Investment: Rs 10,00,000Investment vs TTM Revenue: ~0.43%TTM Revenue: Rs 23 CrShareholding: 100%
📅 Short termThe market may react to the diversification news, but the immediate impact is limited as the initial capital is small and operations have not yet commenced.
📈 Long termStructural significance is high as the company seeks to move away from its struggling textile base (OPM -245.3%) into high-growth renewable energy.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Execution risk in a new, unrelated business sector
- Capital intensive nature of renewable energy vs company's small revenue base
- History of negative profitability (TTM PAT Rs -1 Cr)
Key Highlights
Incorporation of wholly-owned subsidiary Varvee Energy Private Limited on July 7, 2026
Initial cash investment of Rs 10,00,000 for 1,00,000 equity shares at Rs 10 each
Subsidiary to undertake business in renewable energy generation, storage, and trading
Strategic pivot for a company with TTM revenue of Rs 23 Cr and a recent quarterly loss of Rs 8.87 Cr
VGL holds 100% control of the new entity as a related party
👀 What to Watch
Investors should monitor future disclosures regarding specific project timelines, capital expenditure requirements, and how the company plans to fund this energy venture given its current negative profitability.
Varvee Global Bags ₹12.08 Cr Order for 9 Lakh Meters of Suiting Fabrics
Varvee Global Limited, formerly known as Aarvee Denims and Exports Limited, has secured a domestic purchase order from Meet Synthetics Private Limited. The contract involves the supply of approximately 9 lakh meters of suiting fabrics with an aggregate value of ₹12.08 Crores. The order is expected to be executed within a short timeframe of 3 months, providing immediate revenue visibility. This transaction is domestic and does not involve any related party interests from the promoter group.
Key Highlights
Secured a purchase order for approximately 9 lakh meters of suiting fabrics.
Total order value is estimated at ₹12.08 Crores.
The contract is to be executed within a 3-month period.
Order awarded by domestic entity Meet Synthetics Private Limited.
👀 What to Watch
Investors should monitor the company's execution efficiency over the next quarter and look for improvements in the textile segment's top-line growth.
Varvee Global Bags ₹120.8 Million Order for 9 Lakh Meters of Suiting Fabrics
Varvee Global Limited has secured a significant purchase order valued at approximately ₹120.8 million for the supply of nearly 9 lakh meters of suiting fabrics. The order is scheduled for execution over the next three months, providing strong revenue visibility for the upcoming quarter. This win is part of the company's strategic shift toward higher-value non-denim textile segments. Given the company's FY26 revenue of ₹628 million, this single order represents roughly 19% of its annual turnover.
Key Highlights
Secured a purchase order worth ₹120.8 million for suiting fabrics.
Order involves the supply of approximately 9 lakh meters of fabric within a 3-month timeline.
The order value represents nearly 19% of the company's FY26 standalone revenue of ₹628 million.
Company maintains a debt-free balance sheet and holds an 'IND BB/Positive' rating from India Ratings.
Strategic focus remains on expanding the non-denim and value-added textile business.
👀 What to Watch
Investors should track the timely execution of this order as it will significantly impact the next two quarters' earnings. The company's transition to a debt-free model and focus on higher-margin fabrics suggests a positive turnaround trajectory.
Varvee Global FY26 Revenue Up 47.9%; Achieves Bank Debt-Free Status with 65.1% Gross Margin
Varvee Global Limited (formerly Aarvee Denims) has completed a significant financial turnaround in FY26, reporting a 47.9% YoY increase in annual revenue. The company achieved bank debt-free status in June 2025, leading to a credit rating upgrade to 'IND BB/Positive' from a previous default rating. Gross margins expanded significantly to 65.1% as the company pivots from traditional denim to high-margin non-denim fabrics. Management has increased non-denim capacity by 50% to 18 lakh meters per month, with a long-term target of 50 lakh meters.
Key Highlights
FY26 Revenue from operations grew 47.9% YoY, supported by a 211.7% surge in Q4 revenue according to presentation highlights.
Achieved bank debt-free status as of June 3, 2025, with total borrowings reduced by approximately 97% YoY.
Gross margins improved by 168.4 percentage points to reach 65.1% for the full year FY26.
Non-denim production capacity scaled from 12 lakh to 18 lakh meters per month, targeting 50 lakh meters eventually.
Credit rating upgraded to 'IND BB/Positive' by India Ratings following the settlement of all legacy dues with major lenders.
👀 What to Watch
Investors should view this as a successful turnaround story; focus on the company's ability to sustain the 65% gross margin and execute the capacity expansion to 50 lakh meters. The proposed share sub-division may also improve stock liquidity in the near term.
VGL Reports FY26 Revenue Growth of 47.9% and Full-Year EBITDA Turnaround
Varvee Global Limited (VGL) delivered a significant operational turnaround in FY26, with revenue growing 47.9% YoY to ₹6,279.95 lakh and EBITDA turning positive at ₹536.57 lakh. The company successfully de-risked its balance sheet by reducing total borrowings by 97% to ₹287.67 lakh. While reported PAT declined 32.9% YoY to ₹1,244.92 lakh due to the normalization of non-operating income from the previous year, gross margins expanded sharply by 168.4 percentage points to 65.1%. Additionally, the company has initiated a 1:2 stock split to improve retail liquidity.
Key Highlights
FY26 Revenue from Operations grew 47.9% YoY to ₹6,279.95 lakh, with Q4 growth at 211.7%.
Full-year EBITDA turned positive at ₹536.57 lakh, representing a massive improvement of ₹9,526.62 lakh over FY25.
Total borrowings were reduced by approximately 97% YoY to ₹287.67 lakh, significantly strengthening the capital base.
Gross Margin expanded to 65.1% in FY26, driven by a strategic shift toward value-added non-denim fabrics.
Approved a sub-division of equity shares from a face value of ₹10 each into two shares of face value ₹5 each.
👀 What to Watch
Investors should focus on the company's successful transition to a debt-free status and its operational pivot toward higher-margin non-denim products. Monitor the utilization of the expanded 18 lakh meters/month capacity as a key driver for FY27 growth.
VGL Approves FY26 Results and Incorporation of New Renewable Energy Subsidiary
Varvee Global Limited (VGL) has approved its audited standalone financial results for the fiscal year ended March 31, 2026, with an unmodified audit opinion from statutory auditors. The board confirmed the re-appointment of M/s. Anuj Aggarwal & Co. as Cost Auditors and M/s. JAGETIYA & CO as Internal Auditors for the 2026-27 period. Most significantly, the company announced a strategic expansion by approving the incorporation of a wholly-owned subsidiary in the renewable energy sector. This move signals a diversification of the company's business portfolio into high-growth green energy.
Key Highlights
Approved audited standalone financial results for the quarter and year ended March 31, 2026.
Statutory auditors M/s. Pankaj R Shah & Associates issued an unmodified opinion on the FY26 financials.
Authorized the incorporation of a 100% wholly-owned subsidiary in India focused on the Renewable Energy industry.
Re-appointed Cost and Internal auditors for FY 2026-27 to ensure continued regulatory compliance.
The new subsidiary will be funded via cash consideration for share subscription.
👀 What to Watch
Investors should analyze the full financial statements for operational efficiency and monitor further disclosures regarding the capital outlay and business plan for the new renewable energy subsidiary.
Varvee Global Limited CFO Jignesh Parmar Resigns; Last Working Day April 30, 2026
Varvee Global Limited, formerly known as Aarvee Denims and Exports Limited, has announced the resignation of its Chief Financial Officer, Mr. Jignesh Parmar. The resignation was submitted on April 2, 2026, with the executive citing better career opportunities as the primary reason for his departure. Mr. Parmar will continue in his role as a Key Managerial Personnel until his last working day on April 30, 2026. The company will now need to identify and appoint a successor to manage its financial operations.
Key Highlights
Mr. Jignesh Parmar resigned as Chief Financial Officer and Key Managerial Personnel on April 2, 2026.
The resignation is attributed to the executive seeking better opportunities elsewhere.
The effective date of cessation from the company is fixed for April 30, 2026.
The company was previously known as Aarvee Denims and Exports Limited before its rebranding to Varvee Global Limited.
👀 What to Watch
Investors should monitor the company's upcoming announcements for the appointment of a new CFO to ensure leadership continuity. While the resignation appears to be a routine career move, a timely replacement is essential for maintaining financial oversight.
Varvee Global Completes 1:2 Stock Split; Shares Credited with New Face Value of ₹5
Varvee Global Limited (formerly Aarvee Denims) has finalized its stock split process, reducing the face value of equity shares from ₹10 to ₹5. The company confirmed that the sub-divided shares have been successfully credited to shareholders' demat accounts via NSDL and CDSL as of March 3, 2026. The total number of issued and paid-up shares has increased from 2,57,64,339 to 5,15,28,678, while the total share capital remains unchanged at ₹25.76 crore.
Key Highlights
Equity shares sub-divided from face value of ₹10 to ₹5 each (1:2 ratio)
Total paid-up share count doubled from 2,57,64,339 to 5,15,28,678 shares
New ISIN INE273D01027 activated for trading post-split
Authorized share capital adjusted to 7,00,00,000 shares of ₹5 each
👀 What to Watch
Investors should check their demat statements to confirm the credit of additional shares under the new ISIN. Note that the stock price will have adjusted proportionally to the 1:2 split ratio.
Varvee Global Sets March 02, 2026 as Record Date for 1:2 Stock Split
Varvee Global Limited (formerly Aarvee Denims and Exports Limited) has fixed March 02, 2026, as the record date for its equity share sub-division. The company will split each existing share of face value Rs. 10 into two shares of face value Rs. 5 each. This corporate action follows shareholder approval obtained via postal ballot on February 19, 2026. The split is intended to enhance liquidity and make the stock more accessible to retail investors.
Key Highlights
Record date for the 1:2 stock split is fixed for Monday, March 02, 2026
Face value of equity shares will be reduced from Rs. 10 to Rs. 5 per share
Shareholders will receive 2 equity shares for every 1 equity share held as of the record date
The sub-division was approved by shareholders through a Postal Ballot on February 19, 2026
👀 What to Watch
Existing shareholders do not need to take any action as the additional shares will be credited automatically; however, expect the share price to adjust downward proportionally on the ex-split date.
Varvee Global Sets March 2, 2026 as Record Date for 1:2 Stock Split
Varvee Global Limited has officially fixed March 02, 2026, as the record date for its upcoming stock split. The company will subdivide each existing equity share with a face value of ₹10 into two equity shares with a face value of ₹5 each. This corporate action follows shareholder approval obtained via postal ballot on February 19, 2026. The move is intended to increase the liquidity of the stock and make it more affordable for retail investors.
Key Highlights
Record date for the stock subdivision is fixed as Monday, March 02, 2026.
Stock split ratio is 1:2, dividing ₹10 face value shares into ₹5 face value shares.
Shareholders approved the proposal via Postal Ballot on February 19, 2026.
The new subdivided shares will rank pari-passu in all respects with existing shares.
👀 What to Watch
Investors should note that the share price will adjust downward in proportion to the 1:2 split ratio on the ex-date. No manual action is required as the additional shares will be automatically credited to the demat accounts of eligible shareholders.
Varvee Global Shareholders Approve Stock Split and Capital Clause Alteration
Varvee Global Limited (formerly Aarvee Denims and Exports Limited) has announced the successful passing of resolutions via postal ballot. Shareholders have approved the sub-division/split of equity shares with a near-unanimous majority of 99.99%. Additionally, the alteration of the Capital Clause in the Memorandum of Association was approved to reflect the new share structure. A total of 1,72,60,378 valid votes were cast, with only 426 votes against the proposals.
Key Highlights
Shareholders approved the sub-division/split of equity shares with 1,72,59,952 votes in favour.
The resolution for alteration of the Capital Clause of the Memorandum of Association was passed with 100% (rounded) majority.
The voting process was conducted via postal ballot (e-voting) from January 21 to February 19, 2026.
A total of 53 members participated in the voting process, representing 1,72,60,378 valid equity shares.
👀 What to Watch
Investors should watch for the announcement of the 'Record Date' for the stock split to understand when the share price will adjust. The split is expected to improve the stock's liquidity and make it more accessible to retail participants.
Varvee Global Reports 71.7% PAT Growth in 9M FY26; Non-Denim Capacity Up 50% to 1.8M Meters
Varvee Global Limited (formerly Aarvee Denims) has successfully transitioned to a debt-free status as of June 2025, leading to a credit rating upgrade to 'IND BB/Positive'. The company reported a significant 71.67% increase in PAT and 12.78% revenue growth for the nine months ended December 31, 2025. Management is pivotally shifting production from traditional denim to high-margin non-denim fabrics, recently expanding capacity by 50% to 18 lakh meters per month. With a long-term target of 50 lakh meters per month and gross margins reaching 84.5%, the company is positioned for an operational turnaround under new leadership.
Key Highlights
Achieved bank debt-free status in June 2025 after repaying major lenders including SBI and Bank of Baroda.
Reported 9M FY26 PAT growth of 71.67% and revenue growth of 12.78% with gross margins at 84.5%.
Increased non-denim production capacity by 50% to 18 lakh meters per month, targeting a long-term goal of 50 lakh meters.
Credit rating upgraded to 'IND BB/Positive' by India Ratings following the withdrawal of the previous 'Default' (IVR D) rating.
Strategic shift underway to divert denim capacity toward high-margin shirting and suiting fabrics to improve blended margins.
👀 What to Watch
Investors should monitor the company's execution in scaling non-denim production toward the 50 lakh meter target and the sustainability of its high gross margins. The successful debt-free transition and management change make it a notable turnaround candidate in the textile sector.
VGL Reports Q3 Revenue Growth of 104% and 9M Gross Margin Expansion to 84.5%
Varvee Global Limited (VGL) has delivered a significant operational turnaround in 9M FY26, with PAT surging 71.67% to ₹4,104.10 lakhs and EPS rising to ₹21.54. The company successfully transitioned from commoditized denim to high-margin non-denim fabrics, resulting in a 9M gross margin of 84.49% and a positive EBITDA of ₹1,125.49 lakhs. VGL is now effectively debt-free, with finance costs reduced by 99.99% and a newly assigned 'IND BB/Positive' credit rating. Furthermore, production capacity has been scaled by 50% to 18 lakh meters per month to capture high-margin domestic demand.
Key Highlights
Q3 FY26 revenue grew 104.30% YoY to ₹1,213.59 lakhs following a strategic portfolio shift.
9M EBITDA turned positive at ₹1,125.49 lakhs, a massive recovery from a loss of ₹3,820.25 lakhs YoY.
9M PAT increased by 71.67% to ₹4,104.10 lakhs, reflecting strong operating leverage and cost optimization.
Finance costs for Q3 were virtually eliminated (₹0.03 lakh) after full retirement of high-cost legacy debt.
Production capacity for non-denim fabrics increased from 12 lakh to 18 lakh meters per month as of January 2026.
👀 What to Watch
Investors should monitor the sustainability of the high gross margins and the execution of the capacity expansion toward the 50 lakh meter target. The successful debt retirement and credit rating upgrade significantly de-risk the investment profile.
Varvee Global Q3 Net Profit at ₹5.35 Cr; Revenue Drops 56% Sequentially to ₹12.14 Cr
Varvee Global (formerly Aarvee Denims) reported a net profit of ₹5.35 crore for Q3 FY26, a turnaround from a loss of ₹6.94 crore in the same period last year. However, operational revenue saw a sharp sequential decline of 56.4% to ₹12.14 crore from ₹27.83 crore in Q2 FY26. The bottom line was significantly bolstered by 'Other Income' of ₹21.64 crore, which includes the extinguishment of certain deposit liabilities following a 2024 Share Purchase Agreement. The company continues to carry a MAT credit balance of ₹6 crore, anticipating future taxable profits.
Key Highlights
Net Profit turned positive at ₹5.35 crore in Q3 FY26 compared to a loss of ₹6.94 crore in Q3 FY25.
Revenue from operations fell to ₹12.14 crore from ₹27.83 crore in the previous quarter.
Other Income of ₹21.64 crore significantly exceeded operational revenue, driving the quarterly profit.
Management extinguished certain deposit liabilities based on NOCs from holders, improving the balance sheet.
Nine-month EPS stands at ₹21.54, a substantial increase from the previous year's performance.
👀 What to Watch
Investors should be cautious as the current profitability is driven by non-operational 'Other Income' and liability adjustments rather than core textile operations. Monitor the company for signs of operational revenue stabilization under the new management and brand identity.
Varvee Global Assigned 'IND BB' Rating with Positive Outlook by India Ratings
India Ratings and Research has assigned an issuer rating of 'IND BB' to Varvee Global Limited, formerly known as Aarvee Denims & Exports Ltd. The rating carries a 'Positive' outlook, indicating the potential for a future upgrade based on improving financial metrics. Additionally, the rating for the company's INR 950 million Term Deposit Programme has been withdrawn. This credit assessment provides a new benchmark for the company's risk profile following its recent corporate rebranding.
Key Highlights
India Ratings assigned an 'IND BB' issuer rating to Varvee Global Limited.
The rating outlook is 'Positive', suggesting a possible upgrade in the medium term.
Rating for the INR 950 million Term Deposit Programme has been officially withdrawn (WD).
The company is undergoing a transition phase following its name change from Aarvee Denims & Exports Ltd.
👀 What to Watch
Investors should monitor the company's upcoming quarterly results to see if the 'Positive' outlook translates into improved debt-servicing capabilities. While the outlook is favorable, the 'BB' rating remains in the non-investment grade category, requiring a cautious approach.
Varvee Global Announces 1:2 Stock Split and Management Remuneration Hikes
Varvee Global Limited (formerly Aarvee Denims and Exports Ltd.) has issued a postal ballot notice seeking shareholder approval for a 1:2 stock split, reducing the face value from ₹10 to ₹5 per share. The company also proposes to increase the annual remuneration for its Chairman & Managing Director, Jaimin Kailash Gupta, and Whole Time Director, Tarachand Agrawal, to ₹36 lakh each. The authorized share capital is being adjusted to ₹50 crore to accommodate the new share structure. Shareholders can participate in the e-voting process from January 21 to February 19, 2026, with results expected by February 21, 2026.
Key Highlights
Proposed 1:2 stock split: Each ₹10 face value share to be divided into two ₹5 face value shares to improve liquidity.
Authorized equity capital to be restructured into 7,00,00,000 shares of ₹5 each, totaling ₹35 crore in equity value.
CMD Jaimin Kailash Gupta's annual remuneration proposed to increase to ₹36,00,000 effective January 1, 2026.
WTD Tarachand Agrawal's annual remuneration proposed to increase to ₹36,00,000 effective January 1, 2026.
E-voting period for these resolutions is scheduled from January 21, 2026, to February 19, 2026.
👀 What to Watch
Investors should monitor the stock split as it will likely increase trading liquidity and make the shares more accessible to retail investors. It is also important to evaluate if the proposed management pay hikes are justified by the company's recent financial performance and growth outlook.
Varvee Global Limited Approves 1:2 Stock Split and Appoints New Internal Auditor
Varvee Global Limited's board has approved a stock split where each equity share of face value ₹10 will be subdivided into two shares of face value ₹5 each. This move is intended to enhance market liquidity and make the shares more accessible to retail investors, with completion expected within two months. Additionally, the company has appointed M/s Jagetiya & Co as the new Internal Auditor for FY 2025-26 following the resignation of Mr. Sanjay Vyas. The board also recommended revisions to the remuneration of the Managing Director and Whole Time Director, pending shareholder approval.
Key Highlights
Approved a 1:2 stock split, reducing the face value of equity shares from ₹10 to ₹5.
Post-split, the total number of subscribed equity shares will increase from 2,57,64,339 to 5,15,28,678.
M/s Jagetiya & Co, Chartered Accountants, appointed as Internal Auditor for the financial year 2025-26.
Proposed revision in remuneration for MD Jaimin Kailash Gupta and WTD Tarachand Agrawal.
The stock split process is estimated to be completed within approximately 2 months from shareholder approval.
👀 What to Watch
Investors should watch for the announcement of the record date to be eligible for the additional shares from the split. While the split increases liquidity, shareholders should also review the upcoming postal ballot details regarding the proposed remuneration hikes for top management.
Varvee Global Limited (VGL) Announces 1:2 Stock Split and Auditor Appointment
The Board of Varvee Global Limited has approved a stock split where each equity share of face value ₹10 will be subdivided into two shares of face value ₹5. This corporate action is intended to enhance market liquidity and make shares more accessible to retail investors. Alongside the split, the company has appointed M/s Jagetiya & Co as the new Internal Auditor following the resignation of Mr. Sanjay Vyas. Furthermore, the board has proposed revisions to the remuneration of the Managing Director and Whole Time Director, pending shareholder approval.
Key Highlights
Stock split ratio of 1:2, reducing face value from ₹10 to ₹5 per share
Total number of paid-up equity shares to increase from 2,57,64,339 to 5,15,28,678
Authorized share capital remains at ₹50 crore, including ₹35 crore in equity and ₹15 crore in preference shares
Appointment of M/s Jagetiya & Co as Internal Auditor for FY 2025-26
Proposed revision in remuneration for MD Jaimin Kailash Gupta and WTD Tarachand Agrawal
👀 What to Watch
Investors should watch for the announcement of the record date to benefit from the increased liquidity post-split. While the split is a positive sentiment driver, monitor the upcoming shareholder vote on director remuneration and the impact of the new internal audit team.
