Annual General Meeting Details

  • Date: Wednesday, September 16, 2026
  • Time: 10:30 AM
  • Venue: Registered Office (Virtual Meeting via VC/OAVM only)
  • Record Date: September 9, 2026
  • Book Closure: September 10, 2026 to September 16, 2026 (both days inclusive)

Ordinary Business

1. To receive, consider and adopt Audited Financial Statements for FY 2025-2026 with Directors' and Auditors' Reports

2. To declare dividend on Equity Shares for FY 2025-2026

3. To appoint director in place of Mr. Arpit Agarwal (DIN: 07218632) who retires by rotation

Dividend Information

  • Recommended Dividend: ₹1 per equity share
  • Total Amount: ₹90.83 lakhs on 90,83,182 equity shares
  • Payment Date: On or before October 15, 2026
  • Unclaimed Dividend: ₹44.08 lakhs as of March 31, 2026
  • IEPF Transfer: ₹4.01 lakhs transferred to IEPF during FY26 for dividends unpaid for 7 years

Financial Performance Highlights (₹ in Lakhs)

Income Statement

| Particulars | FY 2025-2026 | FY 2024-2025 |

| Total Income | 9,618.57 | 8,109.95 |

| Profit Before Interest, Depreciation & Other Adjustments | 1,686.10 | Not disclosed |

| Interest | 87.06 | Not disclosed |

| Depreciation | 294.55 | 295.00 |

| Profit Before Tax | 1,304.49 | 2,623.56 |

| Current Tax | 356.64 | Not disclosed |

| Deferred Tax | 37.18 | Not disclosed |

| Net Profit After Tax | 910.68 | 2,330.34 |

Key Financial Metrics

  • Revenue from Operations: ₹91.40 crore (16.98% growth)
  • Operating PBT (before exceptional items): ₹13.04 crore (85.8% growth from ₹7.02 crore)
  • Net Worth: ₹89.05 crore (from ₹80.98 crore)
  • Cash & Bank Balance: ₹44.23 crore
  • Earnings Per Share: ₹10.03 (Basic & Diluted)

Strategic Developments

Promoter Change Completed

  • Mr. A.V. Palaniswamy divested entire 30,92,093 shares (34.04%) to M/s Himgiri Castings Private Limited with PAC
  • Open offer conducted from September 10 to October 8, 2025
  • Transaction completed on October 18, 2025
  • Himgiri Castings now promoter with 5,56,608 shares (6.13%), PAC holds 25,35,516 shares (27.91%)
  • Mr. Palaniswamy reclassified as public shareholder effective February 4, 2026

Registered Office Shift

  • Shifted from Tamil Nadu to Gujarat approved by shareholders via Postal Ballot on February 12, 2026
  • Regional Director, Chennai approved shifting on April 2, 2026
  • ROC Ahmedabad issued Certificate of Registration on April 30, 2026
  • New CIN: L29199GJ1993PLC177328

Proposed Mergers

  • Board approved Scheme of Arrangement on May 22, 2026 for merger of:
  • Banil Castings Private Limited (casting supplier, Goa-based)
  • Avisa Private Limited (holds leasehold land at Gujarat facility)
  • Creates two fully integrated manufacturing locations (Goa and Gujarat)
  • Application filed with BSE for No Objection Certificate
  • Subject to statutory and judicial approvals

New Manufacturing Facility

  • Establishing new facility at Village Mudhela, Gujarat
  • Fully integrated facility with casting and finishing capabilities
  • Capacity: 2,500 MT per month (30,000 MT annually)
  • Current capacity: 600 MT per month (7,200 MT annually) - represents 4x expansion
  • Phase I investment: ₹60 crores already started
  • Funded from sale of Thekkalur and Dindigul factory units during 2024-25

Operational Highlights

Market Focus Shift

  • Strengthening focus on Indian domestic market alongside GCC exports
  • Established in-house R&D team for domestic product qualifications
  • Building national sales team for direct project outreach
  • Seeking approvals from:
  • Engineers India Limited (EIL) - oil & gas projects
  • Military Engineer Services (MES) - defense infrastructure
  • DRDO - defense projects
  • CPWD - government construction
  • NBCC - public infrastructure projects

Export Performance

  • Export Revenue: ₹65.34 crores
  • Foreign Exchange Used: ₹1.54 crores
  • GCC remains strategically important despite geopolitical disruptions in Q4 FY26
  • Exploring new export markets: Canada, South America, Africa

Corporate Governance

Board Composition

  • Mr. Jayaram Govindarajan: Managing Director (DIN: 02178416)
  • Mr. Arpit Agarwal: Managing Director (DIN: 07218632)
  • Mr. Anil Kumar Agarwal: Non-Executive Non-Independent Director
  • Mr. Chenniappan Selvakumar: Non-Executive Independent Director
  • Mrs. Susheela Balakrishnan: Non-Executive Independent Director (Chairperson)
  • Mrs. A. Panath Anitha: Executive Woman Director (resigned w.e.f October 18, 2025)
  • Mr. A.V. Palaniswamy: Non-Executive Non-Independent Director (resigned w.e.f October 18, 2025)

Key Management Personnel

  • Mr. J Saravanan: Chief Financial Officer
  • Mr. S Aravinthan: Company Secretary

Board Meetings

  • 7 meetings held during FY 2025-2026
  • Dates: May 16, 2025; May 22, 2025; July 28, 2025; October 15, 2025; October 18, 2025; January 7, 2026; February 4, 2026

Committee Composition

Audit Committee: Mrs. Susheela Balakrishnan (Chair), Mr. Arpit Agarwal, Mr. Chenniappan Selvakumar

Nomination & Remuneration Committee: Mr. Chenniappan Selvakumar (Chair), Mrs. Susheela Balakrishnan, Mr. Anil Kumar Agarwal

Stakeholders' Relationship Committee: Mr. Chenniappan Selvakumar (Chair)

Shareholding Pattern (as of March 31, 2026)

  • Total Shares: 90,83,182 equity shares of ₹10 each
  • Promoter & Promoter Group: 34.04% (30,92,124 shares)
  • Public Shareholding: 65.95% (59,90,558 shares)
  • Physical Shares: 5.96% (5,41,270 shares)
  • Demat with NSDL: 64.51% (58,59,537 shares)
  • Demat with CDSL: 29.53% (26,82,375 shares)
  • IEPF Holdings: 4.93% (4,47,370 shares)

Auditor Appointments

  • Statutory Auditors: M/s. Krishaan & Company (until conclusion of 34th AGM)
  • Secretarial Auditor: Mr. M.R.L. Narasimha, Practicing Company Secretary (until March 31, 2030)
  • Internal Auditor: Not specified in document

CSR Activities

  • CSR Obligation FY26: ₹14.37 lakhs
  • Amount Spent: ₹14.37 lakhs (no unspent amount)
  • FY27 Obligation: ₹18.50 lakhs
  • Projects Supported: Education, children's welfare, environmental protection, healthcare

Litigations and Contingencies

  • ESI Demand: ₹6.80 lakhs for 2004-2011 (paid ₹5.27 lakhs under protest, pending in Labour Court, Madurai)
  • GST Demand: ₹13.80 lakhs for 2020-2021 (paid ₹1.15 lakhs under protest, pending with Commissioner of Appeals)
  • No other significant material orders from regulators/courts

Voting Arrangements

  • Remote e-Voting Period: September 13, 2026 (9:00 AM) to September 15, 2026 (5:00 PM)
  • Scrutinizer: Mr. B Krishnamoorthy, Chartered Accountant (Membership No. 20439)
  • Voting Agency: National Securities Depository Limited (NSDL)
  • VC/OAVM Facility: Available for first 1000 members on first-come basis

Other Disclosures

  • Bankers: Bank of India, Main Branch, Coimbatore
  • Share Transfer Agents: MUFG Intime India Private Ltd, Coimbatore
  • Plant Locations: Kaniyur Finishing Division (Coimbatore), Vedasandur Foundry Division (Dindigul)
  • Employee Strength: 210 employees (75 female, 135 male)
  • Saksham Niveshak Campaign: 100-day outreach initiative from July 28 to November 6, 2025 for KYC updates and unclaimed dividend resolution