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Gajanand International Limited (GAJANAND)

📊 NSE: GAJANAND 🏢 Textiles - Products 📢 Latest filing: 14 Sep 2026 📝 Analysis written: 13 Dec 2025

Latest quarterly results (H2 FY26)

In its latest reported quarter, H2 FY26, Gajanand International's revenue was ₹57.2 Cr (+10.9% year on year, +218.0% on the previous half-year), and net profit ₹-0.1 Cr (a smaller loss than a year earlier); the operating margin was 0.6%.

H2 FY26 (₹ Cr)	Value	YoY vs H2 FY25	vs prev. half
Revenue	₹57.2	+10.9%	+218.0%
Operating profit	₹0.4	from loss	-29.4%
Net profit	₹-0.1	loss narrowed	to loss
EPS (₹)	-0.03	loss narrowed	to loss
Operating margin	0.6%	—	—

Full quarterly financials → Results calendar →

GAJANAND delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 100.0% of the GAJANAND shares traded on NSE were taken to delivery, against the stock's own 20-session average of 86.67%. That is close to its usual level. Turnover was under ₹1 lakh, so a handful of trades can move this figure.

100.0%Delivery, 16 Oct

86.67%Own 20-session average

0.6×Volume vs its average

₹7.10NSE close · -2.07%

Delivery in the last 4 sessions: 100.0% · 66.7% · 100.0% · 100.0%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Gajanand International Approves MOA Object Clause Alteration and Auditor Appointment with 100% Votes

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 14 Sep 2026, 05:46 PM

Gajanand International Limited announced the voting results of its 17th Annual General Meeting held on September 12, 2026. All six ordinary and special resolutions were passed unanimously with 100% of the 12,997,024 valid votes cast in favour. Notable resolutions included the appointment of M/s. Rushabh R. Shah & Co. as statutory auditors for a 5-year term replacing M/s. H.B. Kalaria & Associates, and alterations to the main object clause of the Memorandum of Association. Additionally, directors Mrs. Truptiben Ashokbhai Monsara, Mr. Mitesh Rasiklal Jasani, and Mr. Ashokkumar Haribhai Koyani were re-appointed.

All 6 resolutions passed with 100% approval representing 12,997,024 votes
M/s. Rushabh R. Shah & Co. appointed as statutory auditors for a five-year term
Approved alteration and addition to the Main Object clause of the Memorandum of Association
Cut-off date for eligibility to vote was September 04, 2026

💡 Track subsequent statutory filings regarding specific details of the amended MOA object clause to identify potential new business lines or diversification beyond cotton ginning.

Gajanand International 17th AGM Approves All Resolutions With 100% Votes Cast in Favor

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 14 Sep 2026, 05:20 PM

Gajanand International Limited has released the Scrutinizer's Report for its 17th Annual General Meeting held on September 12, 2026. All six ordinary and special resolutions were passed unanimously with 100% of the 12,997,024 valid votes cast in favor via remote e-voting. Key approvals include the adoption of FY26 financial statements, the appointment of M/s. Rushabh R. Shah & Co. as statutory auditors for a 5-year term, and alterations to the Main Object clause of the Memorandum of Association.

100% of 12,997,024 valid votes cast in favor across all 6 resolutions
Appointed M/s. Rushabh R. Shah & Co. as statutory auditors for a 5-year term replacing M/s. H.B. Kalaria & Associates
Approved alteration to the Main Object clause of the Memorandum of Association
Re-appointed independent directors Mr. Mitesh Rasiklal Jasani and Mr. Ashokkumar Haribhai Koyani

💡 Track subsequent regulatory filings to understand the scope and business rationale behind the alterations to the company's Main Object clause.

Gajanand International Concludes 17th AGM; Approves New Statutory Auditor and Object Clause Alteration

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 12 Sep 2026, 03:54 PM

Gajanand International held its 17th Annual General Meeting on September 12, 2026. Shareholders approved all agenda items, including the adoption of FY26 financial statements and the re-appointment of director Truptiben Ashokbhai Monsara. Key approvals included the appointment of M/s. Rushabh R. Shah & Co. as statutory auditors for a 5-year term replacing M/s. H.B. Kalaria & Associates, along with an alteration to the company's Main Object clause in its Memorandum of Association.

17th Annual General Meeting successfully concluded on September 12, 2026, within 15 minutes (3:30 PM to 3:45 PM)
Appointment of M/s. Rushabh R. Shah & Co., Chartered Accountants, as statutory auditors for a term of 5 consecutive years
Special resolution passed approving additions/alterations to the Main Object clause of the Memorandum of Association
Re-appointment of two Independent Directors, Mr. Mitesh Rasiklal Jasani and Mr. Ashokkumar Haribhai Koyani

💡 Monitor upcoming filings for the final voting results report (within 48 hours) and specific disclosures regarding the alterations made to the Main Object clause to assess any future business line diversification.

Gajanand Int'l 17th AGM on Sep 12, 2026; Proposes Solar and Food Object Additions

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 14 Aug 2026, 07:25 PM

Gajanand International Limited has issued the notice for its 17th Annual General Meeting (AGM) to be held on September 12, 2026. Key agenda items include the appointment of M/s. Rushabh R Shah & Co as Statutory Auditors for a 5-year term, succeeding M/s H.B. Kalaria & Associates whose tenure expired. The company is also seeking shareholder approval to amend its Memorandum of Association (MOA) to diversify beyond cotton ginning into solar PV modules/renewable energy, precision agricultural machinery, and packaged foods/snacks.

17th Annual General Meeting scheduled for September 12, 2026, at 03:30 PM IST via VC/OAVM
Proposed appointment of M/s. Rushabh R Shah & Co as Statutory Auditors for 5 consecutive years from the 17th to 22nd AGM
Special Resolution proposed to alter MOA Main Objects to enter solar PV/renewable energy, farm machinery, and food & snack processing
Re-appointment of Independent Directors Mr. Mitesh Rasiklal Jasani and Mr. Ashokkumar Haribhai Koyani for a 5-year term
Re-appointment of Director Mrs. Truptiben Ashokbhai Monsara retiring by rotation (holding 4,89,600 shares)

💡 Track voting outcomes of the AGM on September 12, 2026, and watch for concrete announcements regarding capital allocation or capex if the company executes on its proposed MOA diversifications.

Gajanand Appoints Rushabh R Shah & Co. as Statutory Auditor for 5-Year Term

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 14 Aug 2026, 07:23 PM

Gajanand International's Board of Directors has approved the appointment of M/s. Rushabh R Shah & Co., Chartered Accountants, as the company's Statutory Auditor for a 5-year term. The new auditor will serve from the conclusion of the 17th Annual General Meeting (2026) until the 22nd AGM in 2031. The change is due to the mandatory completion of the 5-year tenure of the existing auditor, M/s. H. B. Kalaria & Associates. The appointment is subject to approval by shareholders at the upcoming 17th AGM.

Appointment of M/s. Rushabh R Shah & Co. (FRN: 156419W) approved for a 5-year term.
Term spans from the conclusion of the 17th AGM (2026) to the 22nd AGM (2031).
Existing auditor M/s. H. B. Kalaria & Associates retires after completing 5 consecutive years.
Appointment is subject to shareholder approval at the ensuing 17th Annual General Meeting.

💡 Track shareholder approval at the upcoming 17th AGM and monitor subsequent quarterly audit reports.

Gajanand Proposes Rushabh R Shah & Co. as Statutory Auditor for 5-Year Term

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 14 Aug 2026, 07:22 PM

Gajanand International's Board has approved the appointment of M/s. Rushabh R Shah & Co., Chartered Accountants, as the company's Statutory Auditors for a 5-year term spanning from the 17th AGM in 2026 to the 22nd AGM in 2031. The appointment comes following the completion of the mandatory 5-year tenure of existing auditor M/s. H. B. Kalaria & Associates. The transition is standard statutory rotation and is subject to shareholder approval at the upcoming Annual General Meeting.

Appointment of M/s. Rushabh R Shah & Co. (FRN: 156419W) as Statutory Auditor for a 5-year tenure
Term commences from the conclusion of the 17th AGM (2026) until the 22nd AGM (2031)
Existing auditor M/s. H. B. Kalaria & Associates retires upon completion of their prescribed 5-year term
Appointment is subject to shareholder approval at the ensuing 17th Annual General Meeting

💡 Track shareholder voting results on the auditor appointment resolution at the upcoming 17th Annual General Meeting.

View All GAJANAND Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

The company operates in a single segment: Ginning & Pressing and Trading of Cotton. Revenue for the half-year ended September 30, 2025, was INR 18.84 Cr (1,883.56 Lacs). This represents approximately 28.8% of the total revenue of INR 65.29 Cr reported for the full year ended March 31, 2025.

Geographic Revenue Split

Not disclosed in available documents, though the company is registered and operates in Jasdan, Rajkot, Gujarat.

Profitability Margins

Profit before tax (PBT) margin for H1 FY26 was 0.58% (INR 10.86 Lacs). Net profit margin was 6.00% (INR 113.05 Lacs), significantly higher than PBT due to a tax credit of approximately INR 1.02 Cr.

EBITDA Margin

EBITDA for H1 FY26 was INR 52.93 Lacs, representing an EBITDA margin of 2.81%. This is calculated from PBT (INR 10.86 Lacs) plus finance costs (INR 37.97 Lacs) and depreciation (INR 4.10 Lacs).

Capital Expenditure

The company incurred a capital expenditure of INR 0.09 Lacs for the purchase of tangible assets during the half-year ended September 30, 2025.

Credit Rating & Borrowing

Credit rating not disclosed. Borrowing costs for H1 FY26 were INR 37.97 Lacs in finance costs, compared to INR 101.93 Lacs for the full year ended March 31, 2025.

⚙️ Operational Drivers

Raw Materials

Raw cotton (Kapas) is the primary raw material, representing the bulk of the cost of goods sold in the ginning and pressing operations.

Import Sources

Not disclosed in available documents; likely sourced from the Gujarat cotton belt given the company's location in Rajkot.

Capacity Expansion

Current installed capacity and planned expansion details are not disclosed in the available documents.

Raw Material Costs

Purchase of stock-in-trade for H1 FY26 was INR 7.62 Cr. Changes in inventories of finished goods and work-in-progress accounted for a cost of INR 6.17 Cr.

Manufacturing Efficiency

Capacity utilization metrics are not disclosed.

📈 Strategic Growth

Growth Strategy

The company focuses on the ginning, pressing, and trading of cotton. Growth is driven by the volume of cotton processed and traded, leveraging its location in the Gujarat cotton-producing region.

Products & Services

Ginned cotton and pressed cotton bales.

Brand Portfolio

Gajanand.

🌍 External Factors

Industry Trends

The cotton ginning industry is seeing a shift toward more automated pressing and higher quality standards to meet export requirements.

Competitive Landscape

The industry is highly fragmented with numerous small to medium-sized ginning and pressing units in Gujarat.

Competitive Moat

The company's moat is primarily its location in the heart of the Gujarat cotton belt (Jasdan/Rajkot), providing a logistical advantage for procurement. However, this is a common industry advantage and not a unique durable moat.

Macro Economic Sensitivity

Highly sensitive to monsoon patterns affecting cotton crop yields and global textile demand which influences cotton prices.

Consumer Behavior

Demand is driven by the textile industry's requirement for high-quality ginned cotton for spinning.

⚖️ Regulatory & Governance

Industry Regulations

The company is monitoring the impact of the Code on Social Security, 2020, which may affect employee-related contributions once the effective date is notified.