Board Meeting Details

The Board of Directors meeting was held on Friday, August 07, 2026, at the Registered Office in Ahmedabad, commencing at 04:00 PM and concluding at 04:21 PM.

Key Approvals and Decisions

Financial Results:

  • Approved unaudited standalone financial results for quarter ended June 30, 2026
  • Limited Review Report issued by statutory auditors J. T. Shah & Co.

Annual General Meeting:

  • 36th AGM scheduled for Tuesday, September 22, 2026 at 03:30 PM IST through VC/OAVM
  • Register of Members and Share Transfer Books to be closed from September 16, 2026 to September 22, 2026 (both days inclusive)
  • Cut-off date for determining member eligibility: Tuesday, September 15, 2026
  • Appointed CDSL for remote e-voting facility
  • Appointed Alankit Assignments Limited as service provider for facilitating AGM
  • Appointed Mr. Jignesh Kotadiya, Practicing Company Secretary, as Scrutinizer

Management Changes:

  • Re-appointment of Mr. Bharatkumar Keshavji Ghodasara (DIN: 00032054) as Whole-Time Director for 5 years effective September 01, 2026, subject to shareholder approval
  • Current term expires on August 31, 2026
  • Shareholding: 15,600 Equity Shares (0.49% as on appointment date)
  • Not related to any other Director or KMP of the Company
  • Not debarred from holding director office by SEBI or any other authority

Financial Results Highlights (Quarter ended June 30, 2026)

Standalone Financials:

  • Total Income: ₹1,029.71 crore
  • Total Expenses: ₹730.93 crore
  • Profit Before Tax: ₹298.78 crore
  • Tax Expense: ₹0.00 crore
  • Profit for the Period: ₹298.78 crore
  • Other Comprehensive Income: (₹0.06) crore
  • Total Comprehensive Income: ₹298.71 crore
  • Paid-up Equity Share Capital: ₹318.00 crore (Face value ₹10 each)
  • Earnings Per Share (Basic & Diluted): ₹9.40

OFAC SDN List Matter:

  • Company was designated on OFAC SDN List on October 30, 2024 for alleged export of dual-use equipment to Russia
  • Unable to access USD and EURO transactions through official banking channels during October 30, 2024 to June 30, 2026
  • Incurred professional fees of ₹80.97 crore (Previous Year: ₹8.84 crore) for legal representation
  • Name removed from SDN List on June 30, 2026 via OFAC letter
  • Company now permitted to engage in transactions involving U.S. persons and financial system

Additional Information

  • Annual Report for FY 2025-26 and AGM notice to be submitted to exchanges once sent to shareholders
  • Financial results prepared in accordance with Ind AS 34 and relevant accounting standards
  • Company primarily engaged in Ball & Roller Bearings business with no separate reportable segments