Board Meeting Details

The Board of Directors meeting was held on Saturday, May 30, 2026, commencing at 3:15 PM and concluding at 3:31 PM.

Key Resolutions Approved

1. Dividend Declaration

The Board recommended a final dividend of ₹1.00 per equity share for the Financial Year 2025-26. This dividend is subject to shareholder approval and will be paid on or before September 30, 2026.

2. Executive Director Appointment

The Board approved the appointment of Mr. Naresh Kumar Verma (DIN: 07087356) as Executive Director - Operations for a period of 5 years effective June 1, 2026. The appointment includes proposed remuneration and is subject to shareholder approval at the ensuing Annual General Meeting.

Director Profile: Mr. Naresh Kumar Verma, aged 66 years, holds a Master's in Commerce and a Post Graduate Diploma in Personnel Management & Industrial Relations. He has 44 years of experience, having served in companies including VXL India Limited, Bhartia Cutler Hammer, and Daikin Shriram Air Conditioning. He currently serves as Non-Executive Director at Raunaq International Limited, a company within the group. He has no inter-se relationships with other directors.

3. Internal Auditor Appointment

The Board approved the appointment of M/s Ernst & Young LLP (LLP Identity No. AAB-4343) as Internal Auditors for the Financial Year 2026-27 under Section 138 of the Companies Act, 2013.

4. Cost Auditor Appointment

The Board approved the appointment of M/s M.K. Kulshrestha & Associates, Cost Accountants, Ghaziabad as Cost Auditors for the Financial Year 2026-27.

Management Cessation

The Board decided not to extend the term of Mr. Sameer Kanwar (DIN: 00033622) as Joint Managing Director. His tenure will expire after business hours on May 31, 2026.

Relationship Disclosure: Mr. Sameer Kanwar is the son of Mr. Surinder Paul Kanwar, Chairman and Managing Director of the Company.

Compliance Affirmation

The company affirms that Mr. Naresh Kumar Verma is not debarred from holding the office of director by virtue of any order of SEBI or any other authority.

#Tags: #BharatGears #Dividend #ManagementChange #SEBIDisclosure #RegulatoryCompliance #Neutral