Lorenzini Apparels Limited (LAL)
📢 Recent Corporate Announcements
Lorenzini Apparels Limited has published newspaper advertisements confirming the completion of dispatch of its 19th Annual General Meeting (AGM) Notice and Annual Report for FY 2025-26. The AGM will be conducted via Video Conferencing on Friday, September 18, 2026, at 4:00 PM IST. The cut-off date to determine remote e-voting eligibility is Friday, September 11, 2026. The remote e-voting window opens on September 15, 2026, and concludes on September 17, 2026.
- 19th Annual General Meeting scheduled for September 18, 2026, at 4:00 PM IST via VC/OAVM
- Cut-off date to determine voting eligibility set as Friday, September 11, 2026
- Remote e-voting begins on September 15, 2026 (9:00 AM IST) and ends on September 17, 2026 (5:00 PM IST)
- Newspaper advertisements published in Financial Express and Jansatta on August 26, 2026
Lorenzini Apparels Limited has submitted its 19th Annual Report for FY 2025-26 and scheduled its Annual General Meeting (AGM) for September 18, 2026, via video conferencing. A key special business item on the agenda is the proposed change of the company's name from 'Lorenzini Apparels Limited' to 'MONTEIL LIMITED', aligning the corporate identity with its primary brand. Other ordinary business includes the adoption of FY26 financial statements and director re-appointments.
- 19th Annual General Meeting scheduled for Friday, September 18, 2026, at 04:00 PM IST
- Special resolution proposed to change the company name to 'MONTEIL LIMITED'
- Ordinary resolution to adopt audited financial statements for the financial year ended March 31, 2026
- Re-appointment of Mrs. Supreet Kaur Rekhi as director liable to retire by rotation
Lorenzini Apparels Limited has announced the schedule and cut-off date for remote e-voting for its upcoming 19th Annual General Meeting (AGM) scheduled for September 18, 2026. The remote e-voting period opens on September 15, 2026 (9:00 AM IST) and closes on September 17, 2026 (5:00 PM IST). Shareholders holding shares as of the cut-off date, September 11, 2026, will be eligible to cast their votes.
- Remote e-voting begins on Tuesday, September 15, 2026 at 9:00 am (IST)
- Remote e-voting concludes on Thursday, September 17, 2026 at 5:00 pm (IST)
- Shareholder eligibility cut-off date fixed as Friday, September 11, 2026
- 19th Annual General Meeting scheduled for September 18, 2026
Lorenzini Apparels Limited announced the outcome of its Board Meeting held on August 25, 2026. The Board approved the Directors' Report, the 19th Annual Report, and the notice convening the 19th Annual General Meeting (AGM) for FY 2025-26 via Video Conferencing. Additionally, CS Anuj Gupta was appointed as the Scrutinizer for the e-voting process.
- Approved Directors' Report and 19th Annual Report for FY 2025-26
- Approved notice convening the 19th Annual General Meeting via Video Conferencing
- Appointed Practicing Company Secretary CS Anuj Gupta as the e-voting scrutinizer
- Board meeting commenced at 04:00 PM and concluded at 05:00 PM on August 25, 2026
The Board of Directors of Lorenzini Apparels Limited approved a proposal on August 20, 2026, to change the company name to 'Monteil Limited' or 'Monteil Lifestyle Limited'. The rebranding aims to align the corporate entity directly with its primary apparel brand, Monteil. The name change and corresponding alterations to the Memorandum and Articles of Association remain subject to approval from the Ministry of Corporate Affairs (MCA) and shareholders.
- Board approved changing the company name to 'Monteil Limited' or 'Monteil Lifestyle Limited' on August 20, 2026
- Change is subject to availability and approvals from the Ministry of Corporate Affairs, shareholders, and Central Government
- Requires consequential amendments to the company's Memorandum and Articles of Association
- Board meeting concluded at 4:30 P.M. on August 20, 2026
Lorenzini Apparels Limited announced the resignation of its statutory auditor, M/s Mittal & Associates, effective August 11, 2026. The auditor cited pre-occupation with other assignments and inability to devote sufficient time as the reason for stepping down. The firm was originally appointed on September 20, 2023, with a tenure scheduled to run until the 16th AGM in 2028. The filing confirmed no management-imposed limitations or lack of information issues.
- M/s Mittal & Associates resigned as Statutory Auditor effective August 11, 2026.
- Auditor's term was originally scheduled to expire at the 16th AGM in 2028 (FY 2027-28).
- Firm had been associated with the company since appointment on September 20, 2023.
- No material disputes or withholding of audit information were reported in the annexures.
Statutory auditor M/s. Mittal & Associates has resigned from Lorenzini Apparels Limited with immediate effect on August 11, 2026. The auditor cited pre-occupation with other assignments and inability to devote sufficient time as the primary reason. Originally appointed on September 20, 2023, their term was scheduled to run until the 16th AGM in 2028. The firm confirmed there are no other undisclosed material reasons or limitations imposed by management.
- Mittal & Associates resigned as statutory auditors with immediate effect on August 11, 2026
- Auditor's term was originally valid from September 20, 2023 until the 16th AGM in 2028
- Reason cited for premature resignation is pre-occupation with other professional assignments
- Auditor confirmed no other material reasons or audit limitations occurred
Mittal & Associates has resigned as the Statutory Auditor of Lorenzini Apparels Limited (LAL) effective August 11, 2026. The firm cited 'pre-occupation in other assignments' as the reason for their inability to continue the term, which was originally scheduled to expire at the 16th AGM in 2028. This mid-term resignation comes after the company reported a net profit of 5.84 crore for FY 2024-25. Investors should monitor the prompt appointment of a successor to ensure no disruption in financial reporting.
- Resignation of Mittal & Associates effective immediately from August 11, 2026
- Original appointment date was September 20, 2023, with a term intended to last until 2028
- Auditor cited inability to devote time due to other assignments; no other material reasons reported
- Company reported a 10.19% YoY growth in net profit to 5.84 crore in the previous full financial year
- Net worth of the company stands at 52 crore with a debt-to-equity ratio of 0.39
Lorenzini Apparels (LAL) reported a robust Q1 FY27 with revenue from operations growing 81.6% YoY to ₹16.69 Cr. Net profit more than doubled to ₹2.17 Cr from ₹0.96 Cr in the year-ago period, reflecting improved operational scale. However, the statutory auditor, M/s Mittal & Associates, resigned effective August 11, 2026, citing 'pre-occupation in other assignments.' The board has appointed M/s A D M S & Associates to fill the casual vacancy, subject to shareholder approval.
- Revenue from operations increased 81.6% YoY to ₹1,669.17 Lakhs in Q1 FY27.
- Net Profit (PAT) surged 124.9% YoY to ₹216.77 Lakhs compared to ₹96.40 Lakhs in Q1 FY26.
- Total Income for the quarter stood at ₹1,874.23 Lakhs, including other income of ₹205.06 Lakhs.
- Statutory Auditor M/s Mittal & Associates resigned mid-term on August 11, 2026.
- Earnings Per Share (EPS) improved to ₹0.13 from ₹0.06 in the corresponding previous quarter.
Mittal & Associates have tendered their resignation as Statutory Auditors of Lorenzini Apparels Limited with immediate effect from August 11, 2026. The auditor was originally appointed on September 20, 2023, with a mandate scheduled to run until the 16th Annual General Meeting in 2028 for FY 2027-28. The firm cited pre-occupation in other assignments as the reason and confirmed there were no other material concerns or information access limitations. The company will need to appoint a successor auditor to fill the casual vacancy.
- Statutory auditor Mittal & Associates resigned with immediate effect on August 11, 2026
- Auditor was originally appointed on September 20, 2023, with term valid until the 16th AGM in 2028
- Reason provided: Inability to devote time due to pre-occupation with other assignments
- Confirmed no material concerns or management-imposed audit limitations
Lorenzini Apparels Limited (LAL) has issued a clarification to the BSE and NSE regarding the non-applicability of Escrow Payment Mechanism disclosures. The company received an inquiry from the BSE on August 01, 2026, regarding this quarterly filing. LAL clarified that these disclosures are only required for entities issuing Municipal Debt Securities or public debt, whereas LAL has only issued equity shares. This is a routine administrative clarification and does not impact the company's financial position.
- Clarification issued on August 01, 2026, following a query from the BSE Listing Department
- Company confirmed it has issued 0 Municipal Bonds or debt securities to date
- Exemption based on SEBI Circular No. SEBI/HO/DDHS/CIR/P/134/2019 dated November 13, 2019
- LAL maintains that its capital structure consists solely of equity shares for this reporting purpose
Lorenzini Apparels Limited (LAL) has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the period ended June 30, 2026. This is a standard administrative filing where the Registrar and Share Transfer Agent (RTA) confirms the processing of dematerialization requests. The document verifies that share certificates received were mutilated and cancelled, with the depository's name substituted in the records. This filing has no impact on the company's financial position or business operations.
- Compliance certificate submitted for the quarter ended June 30, 2026
- Filing confirms adherence to SEBI Regulation 74(5) regarding dematerialization of securities
- The document was officially signed and dated July 07, 2026
- Confirms coordination between the company, its RTA, and depositories (NSDL/CDSL)
Lorenzini Apparels Limited has re-submitted its audited financial results for the year ended March 31, 2025, following a clarification request from stock exchanges. The statutory auditor issued an unmodified opinion but included an 'Emphasis of Matter' regarding the utilization of ₹2,100 lakh raised through share warrants. While ₹1,653.72 lakh has been deployed toward business objectives, the company revealed that the remaining ₹446.28 lakh is currently invested in the equity market. This temporary deployment of capital raised for specific business purposes into the stock market is a notable risk factor for shareholders.
- Re-submitted audited financial results for FY25 to comply with SEBI Regulation 33 format requirements.
- Total funds raised via 10,38,371 share warrants amounted to ₹2,100 lakh between Oct 2023 and Aug 2024.
- Utilized ₹1,653.72 lakh for intended preferential issue objectives as of March 31, 2025.
- Disclosed that ₹446.28 lakh in unutilized funds is strategically invested in the equity market to optimize returns.
- Statutory auditors Mittal & Associates provided an unmodified audit opinion on the financial statements.
Lorenzini Apparels Limited (LAL) has announced the closure of its trading window starting July 1, 2026, in compliance with SEBI Insider Trading regulations. This closure pertains to the upcoming declaration of unaudited financial results for the quarter ending June 30, 2026. The window will remain closed for all designated persons, including promoters and directors, until 48 hours after the results are made public. The company also noted that PANs of designated persons will be frozen by the Depository during this period to prevent unauthorized trades.
- Trading window closure begins on July 1, 2026.
- Closure is for the quarter ending June 30, 2026.
- Window to reopen 48 hours after the announcement of financial results.
- PAN freezing will be implemented for designated persons per SEBI circular dated July 19, 2023.
Lorenzini Apparels reported a strong Q4 FY26 turnaround with a net profit of ₹87.26 Lakhs against a heavy loss in the previous year's quarter. Quarterly revenue grew 85% YoY to ₹2,575.98 Lakhs, though full-year profit fell 25.4% to ₹435.28 Lakhs. The balance sheet shows a sharp rise in trade receivables to ₹1,993.61 Lakhs and current borrowings to ₹1,950.96 Lakhs. Cash flow from operations remains a major concern, ending the year at negative ₹1,400.04 Lakhs.
- Q4 Revenue from operations grew 85% YoY to ₹2,575.98 Lakhs from ₹1,392.25 Lakhs.
- Turned profitable in Q4 with ₹87.26 Lakhs Net Profit vs a loss of ₹656.73 Lakhs in Q4 FY25.
- Full-year FY26 Net Profit declined 25.4% to ₹435.28 Lakhs despite 14.7% revenue growth.
- Trade receivables increased by 74% YoY to ₹1,993.61 Lakhs, indicating potential collection delays.
- Current borrowings more than doubled to ₹1,950.96 Lakhs to fund working capital requirements.
Financial Performance
Revenue Growth by Segment
The company operates in a single reportable segment (Apparels). Total turnover increased by 15.82% YoY, rising from INR 5,475.92 lakhs in the previous year to INR 6,342.04 lakhs in FY 2024-25.
Geographic Revenue Split
Not disclosed in available documents; however, the company is headquartered in New Delhi with operations in Mumbai.
Profitability Margins
Net profit margin stood at 9.20% in FY 2024-25, a slight contraction from 9.67% in the previous financial year. Net profit grew by 10.19% YoY to INR 583.64 lakhs from INR 529.66 lakhs.
EBITDA Margin
Operating profit before working capital changes for the half-year ended September 30, 2025, was INR 130.26 lakhs, representing a significant 91.59% decrease from INR 1,549.45 lakhs in the same period of the previous year.
Capital Expenditure
The company invested INR 28.95 lakhs in the purchase of fixed assets during the half-year ended September 30, 2025. Total Property, Plant and Equipment (PPE) stood at INR 289.23 lakhs as of March 31, 2025.
Credit Rating & Borrowing
The company has sanctioned working capital limits exceeding INR 500 lakhs (INR 5 crore) from banks, secured against current assets. Interest and finance charges for H1 FY26 were INR 47.34 lakhs, down 28.9% from INR 66.61 lakhs YoY.
Operational Drivers
Raw Materials
Materials for apparel manufacturing (fabrics, yarn, and accessories) constitute the primary input, though specific material-wise cost percentages are not detailed.
Capacity Expansion
The company raised INR 2,100 lakhs through a preferential issue of equity shares for specific business objectives. As of March 31, 2025, INR 1,653.72 lakhs had been utilized, with INR 446.28 lakhs temporarily parked in quoted equity shares pending deployment.
Raw Material Costs
Not disclosed as a specific percentage of revenue, but the company noted variances in stock statements submitted to banks (up to 14.19% in June 2024) due to adjustments in customer advances and trade payables.
Manufacturing Efficiency
The company employs 95 staff members, of which 86.3% (82 employees) are unskilled, indicating a high reliance on manual labor for garment production.
Strategic Growth
Expected Growth Rate
15.82%
Growth Strategy
Growth is driven by a preferential issue of INR 2,100 lakhs to fund specific expansion objectives. Management is focusing on maintaining steady revenue despite challenging economic conditions and is relentlessly striving for business betterment through improved operational performance.
Products & Services
Apparels and garments, specifically marketed under the Monteil brand.
Brand Portfolio
Monteil
Market Expansion
The company is targeting growth in the forthcoming year through the deployment of preferential issue proceeds, though specific regional targets are not listed.
External Factors
Industry Trends
The apparel industry is facing challenging economic conditions; however, LAL is maintaining steady revenue and profit. The industry is evolving toward more structured financial reporting and internal controls as evidenced by the company's adoption of Ind AS.
Competitive Moat
The company's moat is built on its 'Monteil' brand and its ability to raise significant capital (INR 2,100 lakhs) for expansion. Sustainability depends on the effective deployment of these funds into productive assets.
Macro Economic Sensitivity
High sensitivity to inflation and general economic trends which impact consumer discretionary spending on apparel.
Consumer Behavior
Demand is sensitive to economic cycles and inflationary pressures on household budgets.
Regulatory & Governance
Industry Regulations
Compliant with the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company maintains an ISO 9001:2015 certification for quality management.
Taxation Policy Impact
The company paid/provided for taxes of INR 11.60 lakhs in H1 FY26. It complies with Ind AS 108 for segment reporting.
Legal Contingencies
The company has disclosed the impact of pending litigations in Note 37 of its financial statements, though the specific INR value of these contingencies is not provided in the summary.
Risk Analysis
Key Uncertainties
The primary uncertainty is the deployment of the remaining INR 446.28 lakhs from the preferential issue and the impact of inflation on consumer demand, which could impact revenue by an estimated 5-10% if trends worsen.
Geographic Concentration Risk
Operations are concentrated in New Delhi (Okhla Industrial Area) and Mumbai.
Third Party Dependencies
Dependency on banks for working capital limits exceeding INR 500 lakhs.
Technology Obsolescence Risk
The company faces risks related to internal financial controls; however, auditors have currently issued an unmodified opinion on their effectiveness.
Credit & Counterparty Risk
Trade receivables stood at a significant level, with a decrease of INR 436.11 lakhs noted in the cash flow statement for H1 FY26, indicating active collection efforts.
