Ashapura Intimates Fashion Limited has informed the stock exchanges about the outcome of its Board Meeting held on May 4, 2026. The primary agenda transacted and approved was the appointment of Mr. Pawansut Swami as the Company Secretary and Compliance Officer, effective immediately from the date of the meeting.

The board’s decision followed a recommendation from the Nomination and Remuneration Committee. Mr. Pawansut Swami is a qualified Company Secretary and a commerce graduate from MGSU, Bikaner, with over 10 years of experience in corporate law and SEBI compliance. The meeting commenced at 5:15 PM and concluded at 5:50 PM.

Ashapura Intimates Fashion Limited is primarily engaged in the design, manufacture, and marketing of intimate wear, including its well-known brand “Valentine”. However, the company has faced severe operational challenges and was placed under liquidation in October 2020 following an NCLT order. In a significant update from 2025, the NCLT Mumbai Bench passed a relief order on June 10, 2025, which changed the company’s status from “under liquidation” to “active” and approved its acquisition by Grow House Agro Limited. Despite this change, the company reported zero revenue from core operations throughout 2025 and early 2026.

For the quarter ended December 31, 2025, the company reported a standalone net profit of ₹302.02 Crores. It is important to note that this profit was entirely due to an “exceptional credit” of ₹302.21 Crores arising from the NCLT-sanctioned write-off of past liabilities, rather than actual business sales. Revenue from operations remained at ₹0.00. Public shareholding data shows institutional presence from IIFL Securities Limited (28.9%) and Sunglow Capital Services Ltd (4.0%), while other notable investors include Ifin Securities Finance Limited and Bennett, Coleman And Company Limited.