Key Events and Timeline

  • BSE Limited sent an email on June 20, 2026 seeking clarification on delayed AGM proceedings submission.
  • The Company submitted the AGM proceedings on June 19, 2026, one day after the AGM held on June 18, 2026.
  • The delay was described as "inadvertent" and "unintentional" with no misstatement or withholding of information.
  • The Company expressed regret and assured greater care for timely compliance in the future.

AGM Proceedings Details

Meeting Date & Time: Thursday, 18th June, 2026 at 11:00 A.M. IST

Meeting Mode: Video Conferencing (VC)/Other Audio-Visual Means (OAVM)

Duration: Meeting commenced at 11:00 AM and concluded at 12:28 PM IST

Attendance: 47 members attended through VC/OAVM

Directors and Officials Present:

  • Mr. B. Jayaraman, Chairman, Independent Director
  • Mr. Sukumar Srinivas, Managing Director
  • Mr. N. Muthuraman, Independent Director
  • Ms. Sujatha G, Independent Director
  • Mr. Dhananjay Mirlay Srinivas, Non-Executive & Non-Independent Director
  • Mr. C. Ravi Kumar, Non-Executive & Non-Independent Director
  • Mr. Medepalli Eswara Rao, Independent Director
  • Mr. Alex Varghese, Group Chief Financial Officer
  • Mr. Sathyanarayana JW, Chief Financial Officer
  • Ms. Ereena Vikram, Group Company Secretary
  • Mr. Ramesh S, Company Secretary and Compliance Officer

Other Attendees:

  • Internal Auditors: M/s GRSM & Associates, Chartered Accountants
  • Secretarial Auditor: Mr. K. Jayachandran, Practicing Company Secretary
  • Scrutinizer: Mr. S. Kannan, S Kannan & Associates, Company Secretaries

Business Items Considered

1. Ordinary Business - Ordinary Resolution: To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2026 together with the Reports of the Directors and Auditors thereon and the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2026 together with Report of Auditors thereon.

2. Ordinary Business - Ordinary Resolution: To re-appoint Mr. Dhananjay Mirlay Srinivas (DIN: 09108483) as a Director of the Company who retires by rotation.

3. Special Business - Ordinary Resolution: Reappointment of Mr. Sukumar Srinivas (DIN: 01668064) as Managing Director of the Company.

4. Special Business - Special Resolution: Appointment of Mr. Medepalli Eswara Rao (DIN: 11696395) as an Independent director.

5. Special Business - Special Resolution: Amendment in the main object clause of the memorandum of association of the Company.

Voting Process

  • Remote e-voting facility was provided through KFin Technologies Limited from June 15, 2026 at 9:00 AM to June 17, 2026 at 5:00 PM.
  • Members could also vote during the AGM session through e-voting system- Instapoll.
  • Mr. S. Kannan, Practicing Company Secretary was appointed as scrutinizer to scrutinize all votes.
  • Voting results were to be made available on the company website.

Financial Performance Highlights (Consolidated Basis)

  • Total Revenue: ₹1,364.01 crores in FY25-26 (compared to ₹1,362.47 crores in FY24-25)
  • EBITDA: ₹30.22 crores for FY26 (compared to ₹20.79 crores in FY25), representing 44% growth
  • Profit After Tax (PAT): ₹3.84 crore in FY26 (compared to loss of ₹(0.78) crore in FY25)

Strategic and Operational Updates

  • Demerger of trading business was completed in January 2026 with all necessary approvals to unlock shareholder value.
  • Post-demerger, Shankara Building Products Limited has three subsidiary companies engaged in manufacturing of precision steel tubes and structural tubes for construction, automobile and general engineering industries.
  • The company also offers a comprehensive range of roofing products including accessories.
  • Strategic focus areas going forward:

1. Investment in machinery upgradation to enhance product quality

2. Growth in sales to direct customers in automobile & other key industrial segments

3. Opportunities to diversify product range

Corporate Governance and Board Changes

  • Mr. Chandu Nair retired from the Board after completing 2 terms of 5 years each.
  • Mr. Medepalli Eswara Rao was appointed to the Board, bringing manufacturing industry experience.
  • The company maintains compliance with Companies Act, 2013 and SEBI Listing Regulations.

Macroeconomic Context

  • FY25-26 was described as challenging due to US tariff threats on Indian exports (later struck down by US Supreme Court in February 2026).
  • US-Israel war with Iran caused disruption in fossil-based energy supplies, particularly affecting Strait of Hormuz transit routes.
  • These events fueled inflation, though steel demand remained robust throughout the year.