AGM Proceedings

The 61st Annual General Meeting was held on Friday, November 13, 2026, at 12:00 Noon at Hotel Taj Yeshwantpur, Bengaluru. The meeting was chaired by Mr. Amit Laroya, Independent Director & Chairman of the Board. The requisite quorum was present.

Ms. Anupriya Garg, Company Secretary, provided safety briefing and general advisory. Directors, Key Managerial Personnel, representatives of Statutory Auditors and Secretarial Auditors were present.

Mr. Vijaykrishnan Venkatesan, Managing Director, presented an overview of the company's performance for Financial Year 2025-26.

The Statutory Auditors' Report and Secretarial Auditor's Report contained no qualifications or adverse remarks.

Business Transacted

Ordinary Business:

  • Item 1: To receive, consider, approve, and adopt the audited financial statements for FY ended June 30, 2026, with reports of Board of Directors and Auditors (Ordinary Resolution)
  • Item 2: To appoint Ms. Kelly Golden Lynch (DIN: 10270042), Non-Executive, Non-Independent Director, who retires by rotation and offers herself for re-appointment (Ordinary Resolution)
  • Item 3: To confirm payment of interim dividend of ₹40 per equity share (400%) on 2,19,78,240 equity shares of ₹10 each already paid for FY 2025-26, and consider the same as final dividend (Ordinary Resolution)

Special Business:

  • Item 4: Ratification of remuneration payable to M/s. K. S. Kamalakara & Co, Cost Auditors of the Company (Ordinary Resolution)

Voting and Meeting Details

The e-voting results will be declared on or before November 17, 2026, on BSE Limited and the company's website. The meeting commenced at 12:00 Noon and concluded at 1:18 PM.

Financial and Operational Performance Highlights (FY26)

Sales Performance: Exceptional growth in sales and PBT driven by economic momentum and strategic initiatives.

Business Segment Performance:

  • Aerospace Business: Grew by 67% in FY26, bagging orders from leading component manufacturers for highly complex engine and structures machining
  • Hard Metal: Driving volume growth while implementing pricing actions for tungsten environment
  • Machining Solutions Group: Growth capped by capacity constraint, expansion plans in place

Key Orders:

  • Won order worth INR 17 million from a leading global engine manufacturer for VSVG (Valve Seat Valve Guide) complete solution

Operational Initiatives:

  • Localization of select grades of compacts at Bengaluru plant yielded portfolio growth of 139%
  • Capacity expansion through green field facility investment, internal expansion of fixture assembly area, enhanced spindle assembly room and stores
  • Digital demand generation with 17,000+ LinkedIn followers and growth in web traffic

Sustainability Achievements:

  • Energy: 77.1% of energy sourced through solar; Energy intensity improved from 6.37 GJ/million-INR in FY25 to 5.02 GJ/million-INR in FY26
  • Water: 7.68% reduction in freshwater consumption over FY25; Water intensity improved from 4.35 KL/million-INR in FY25 to 3.11 KL/million-INR in FY26
  • Waste: 100% waste recycling and zero waste to landfill; 60% tungsten recovery from carbide grinding sludge

Awards: Won Gold at the CII National Excellence EHS Awards for leadership in circular manufacturing and EHS initiatives.

Employee Strength: 773 employees

Capital Structure: The company has 2,19,78,240 equity shares of ₹10 each.