Update on the Sale of the Company''s Knitwear Unit.

General Manager, August 11, 2026 Department of Corporate Services, BSE Ltd. Phiroze Jeejeeboy Towers, Dalal Street, Mumbai - 400 001 Security Code : 532957 Security ID : GOKAKTEX Subject : Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015 – Closure and Proposed Sale of Knitwear Unit / Factory. Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and in continuance to our communications dated September 09, 2025, January 27, 2026 and May 07, 2026 (letters enclosed) we hereby inform you that: 1. The Board of Directors of the Company at its meeting held today, i.e., Tuesday, August 11, 2026, has approved, subject to statutory and regulatory approvals/procedures, if any, the permanent closure and subsequent sale/disposal of the Company’s knitwear unit/factory located at: Bagalkot Road, Village Marihal, District – Belagavi, Karnataka State, on as is where is basis. 2. The overall performance of the Knitwear Business had declined over the past years because of various reasons. The knitwear unit/factory (herein after referred as “Knitwear Unit”) is located on freehold land of 15.65 acres including utilities. The Knitwear Unit was set up in the year 1995. The Knitwear Unit was initially setup to cater exclusively to the export market. Over the years, it sold portion of the production in the local market through third party outlets as well as under Company’s own brand names. Specialised garmenting machines like fabric dyeing, knitting and other miscellaneous machines have been shifted to Mills Division of the Company, at Gokak Falls, Karnataka in the year 2015-16. Only cutting and stitching facility is being carried out at Knitwear Unit at Marihal. 3. In August 2025 the Board of Directors of the Company passed resolution for sale of Land, Building and Machinery of Knitwear Unit and in September 2025 the Company had signed an agreement for sale of the Land, Building and Machinery of Knitwear Unit with M/s V. G. Parekh & Co. Vijayapura, Karnataka on as is where is what is basis. Intimation in respect of the same was submitted to BSE Ltd., on September 09, 2025. 4. The closure is subject to obtaining necessary regulatory and statutory approvals, including permission from the relevant Labour authorities. Following the closure, the land, building, and plant and machinery of the unit will be sold/disposed off, on as is where is what is basis. The details required as per the SEBI Master Circular no. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, are mentioned in Annexure – I and Annexure - II. The Board Meeting commenced at 02:15 P.M. and concluded at 03:45 P.M. For Gokak Textiles Limited Rakesh M. Nanwani Company Secretary & Compliance Officer Encl: As above GOKAK TEXTILES LIMITED Registered Office: #1, 2nd Floor, 12th Cross, Ideal Homes, Near Jayanna Circle, Rajarajeshwari Nagar, Bengaluru – 560 098 Telephone No.: +91 80 29744077 / 29744078 Website: www.gokaktextiles.com GSTIN: 29AACCG8244P1ZX CIN: L17116KA2006PLC038839 Annexure – I Closure of operations of any unit, division or subsidiary (in entirety or in piecemeal): Sr. No. Particulars Details 1 date of such binding agreement, if September 09, 2025 any, entered for sale of such unit/division, if any; 2 amount & percentage of turnover or For the FY 2025 – 2026 turnover of the revenue or income and net worth of knitwear business / unit was Rs. 422.73 lakhs, the listed entity contributed by such i.e. 9.76 % of the total revenue from unit or division during the last operations for the FY 2025-2026. financial year; As at 31 March, 2026, net worth of the knitwear business / unit was negative Rs. (4,192.55) lakhs, i.e. contributing 21.58 % to the Company's net worth negative Rs. (19,423.50) lakhs. 3 date of closure or estimated time of October 2026 closure 4 reasons for closure Factors include:  Structural Cost Disadvantages and Operational Unviability  Adverse Textile Industry Conditions  Machinery Obsolescence and High Maintenance Costs  Industrial Relations Issues  Electricity & Water Supply Issues  Environmental and Regulatory Restrictions GOKAK TEXTILES LIMITED Registered Office: #1, 2nd Floor, 12th Cross, Ideal Homes, Near Jayanna Circle, Rajarajeshwari Nagar, Bengaluru – 560 098 Telephone No.: +91 80 29744077 / 29744078 Website: www.gokaktextiles.com GSTIN: 29AACCG8244P1ZX CIN: L17116KA2006PLC038839 Annexure – II Sale or disposal of unit(s) or division(s), whole or substantially the whole of the undertaking(s) or subsidiary of the listed entity, sale of stake in the associate company of the listed entity: Sr. No. Particulars Details 1 the amount and percentage of the For the FY 2025 – 2026 turnover of the turnover or revenue or income and knitwear business / unit was Rs. 422.73 lakhs, net worth contributed by such unit i.e. 9.76 % of the total revenue from or division or undertaking or operations for the FY 2025-2026. subsidiary or associate company of the listed entity during the last As at 31 March, 2026, net worth of the financial year; knitwear business / unit was negative Rs. (4,192.55) lakhs, i.e. contributing 21.58 % to the Company's net worth negative Rs. (19,423.50) lakhs. 2 date on which the agreement for September 09, 2025 sale has been entered into; 3 the expected date of completion of October 2026 sale/disposal; 4 consideration received from such Agreed at Rs. 19.50 Crores. sale/disposal; 5 brief details of buyers and whether M/s V. G. Parekh & Co. is engaged in the any of the buyers belong to the business of real estate development and promoter/ promoter group/group leasing in the state of Karnataka with its companies. If yes, details thereof; headquarters in Vijayapura. Does not belongs to promoter/ promoter group/ group companies. 6 whether the transaction would fall No within related party transactions? If yes, whether the same is done at “arm’s length”; 7 whether the sale, lease or disposal Yes, the Company will comply with the of the undertaking is outside requirements of regulation 37A of the LODR Scheme of Arrangement? If yes, Regulations before selling the unit. details of the same including compliance with regulation 37A of LODR Regulations. 8 additionally, in case of a slump sale, NA indicative disclosures provided for amalgamation/merger, shall be disclosed by the listed entity with respect to such slump sale. GOKAK TEXTILES LIMITED Registered Office: #1, 2nd Floor, 12th Cross, Ideal Homes, Near Jayanna Circle, Rajarajeshwari Nagar, Bengaluru – 560 098 Telephone No.: +91 80 29744077 / 29744078 Website: www.gokaktextiles.com GSTIN: 29AACCG8244P1ZX CIN: L17116KA2006PLC038839 General Manager, May 07, 2026 Department of Corporate Services, BSE Ltd. Phiroze Jeejeeboy Towers, Dalal Street, Mumbai - 400 001 Security Code : 532957 Security ID : GOKAKTEX Subject : Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Update on the sale of the Company’s knitwear manufacturing plant located at Bagalkot Road, Village Marihal, District – Belagavi, Karnataka State. In continuation to our letter dated September 09, 2025 and January 27, 2026, we wish to inform that the proposed transaction pertaining to the sale of the Company’s knitwear manufacturing plant, originally scheduled for completion in January 2026, has been postponed by further three months on account of process delays. For Gokak Textiles Limited RAKESH M Digitally signed by RAKESH M NANWANI NANWANI Date: 2026.05.07 14:35:05 +05'30' Rakesh M. Nanwani Company Secretary & Compliance Officer Enclosed: Letter dated January 27, 2026 GOKAK TEXTILES LIMITED Registered Office: #1, 2nd Floor, 12th Cross, Ideal Homes, Near Jayanna Circle, Rajarajeshwari Nagar, Bengaluru – 560 098 Telephone No.: +91 80 29744077 / 29744078 Website: www.gokaktextiles.com GSTIN: 29AACCG8244P1ZX CIN: L17116KA2006PLC038839 General Manager, January 27, 2026 Department of Corporate Services, BSE Ltd. Phiroze Jeejeeboy Towers, Dala [Showing first 8,000 characters — download PDF for full document]