Storage Technologies and Automation Limited

Board Meeting Details

A meeting of the Board of Directors was held on 11th November 2026, commencing at 2:00 PM and concluding at 5:30 PM. The Board considered and approved the following business items:

Key Business Items Approved

1. Financial Results Approval

The Board approved the Standalone and Consolidated Financial Statements for the first half year ended 30th September 2026 along with the Limited Review Report thereon.

2. Subsidiary Closure

Approval for closure of subsidiary Racks And Rollers FZ LLC incorporated in Dubai due to regulatory challenges and difficulties in meeting applicable regulatory requirements for commencing operations.

3. Policy Approvals

Approval of the Adoption of Related Party Transaction Policy and Policy on Materiality of Related Party Transaction.

4. Related Party Transaction

Approval of related party transaction with Racks and Rollers Steel Manufacturing L.L.C for the sale of goods in the ordinary course of business and on an arm's length basis.

5. Committee Reconstitution

The Board approved the reconstitution of Board Committees effective 11th November 2026:

Audit Committee:

  • Ms. Bhagya Mysore Gopalakrishna (Chairman, Independent Director)
  • Ms. Arun Kumar Harsha (Member, Independent Director)
  • Mr. Mohammad Arif Abdulgaffar (Member, Managing Director)

Corporate Social Responsibility Committee:

  • Mr. Mizar Udaya Bhandary (Chairman, Independent director)
  • Mr. Afzal Hussain (Member, Whole Time Director)
  • Mr. Syed Azeem (Member, Whole Time Director & CEO)

Stakeholders Relationship Committee:

  • Ms. Arun Kumar Harsha (Chairman, Independent Director)
  • Ms. Bhagya Mysore Gopalakrishna (Member, Independent Director)
  • Mr. Nuumaan Khasim (Member, Whole Time Director)
  • Mr. Mohammad Arif Abdul Gaffar Dor (Member, Managing Director)

Nomination and Remuneration Committee:

  • Mr. Mizar Udaya Bhandary (Chairman, Independent Director)
  • Ms. Bhagya Mysore Gopalakrishna (Member, Independent Director)
  • Ms. Arun Kumar Harsha (Member, Independent Director)

Financial Results Submission

The consolidated financial results include the financial results of following subsidiaries:

1. DI & P Services Private Limited

2. Glaukoustech Solutions Private Limited

3. Racks and Rollers FZ-LLC

Standalone Financial Performance (₹ in Lakhs)

Balance Sheet Position as at 30 September 2026

  • Share Capital: 1,284.00 (unchanged from March 2026)
  • Reserves and Surplus: 2,710.59 (increased from 2,550.12 in March 2026)
  • Total Equity: 3,994.59 (increased from 3,834.12 in March 2026)
  • Long Term Borrowings: 99.68 (increased from 8.95 in March 2026)
  • Total Assets: 8,367.82 (increased from 7,217.17 in March 2026)

Profit and Loss for H1 FY27 (6 months ended 30 September 2026)

  • Revenue from operations: 5,757.38
  • Other income: 24.27
  • Total Revenue: 5,781.65
  • Total expenses: 5,620.23
  • Profit before tax: 161.42
  • Tax expense: 0.95 (Deferred tax)
  • Net Profit for the period: 160.47 (compared to loss of 155.23 in H1 FY26)
  • Earnings per share (Basic & Diluted): 1.25 (compared to loss of 1.21 in H1 FY26)

Cash Flow Statement (H1 FY27)

  • Cash flows from operating activities: 79.80
  • Cash flows from investing activities: (100.94)
  • Cash flows from financing activities: (50.83)
  • Net decrease in cash: (71.97)
  • Cash at beginning of period: 434.66
  • Cash at end of period: 362.69

Consolidated Financial Performance (₹ in Lakhs)

Consolidated Balance Sheet as at 30 September 2026

  • Share capital: 1,284.00
  • Reserves and surplus: 2,798.35
  • Minority Interest: 25.09
  • Total Equity: 4,107.44
  • Total Assets: 8,610.95

Consolidated Profit and Loss for H1 FY27

  • Revenue from operations: 5,757.38
  • Other income: 24.28
  • Total Revenue: 5,781.66
  • Total expenses: 5,621.60
  • Profit before tax: 160.06
  • Tax expense: 1.00 (Deferred tax)
  • Net Profit for the period: 159.06
  • Attributable to shareholders: 159.45
  • Attributable to minority interest: (0.39)
  • Earnings per share (Basic & Diluted): 1.24

Consolidated Cash Flow Statement (H1 FY27)

  • Cash flows from operating activities: 79.68
  • Cash flows from investing activities: (100.92)
  • Cash flows from financing activities: (50.82)
  • Net decrease in cash: (72.06)
  • Cash at beginning of period: 434.98
  • Cash at end of period: 362.92

Auditor Review

MSSV & Co LLP conducted limited review of both standalone and consolidated financial results. The review concluded that nothing has come to their attention that causes them to believe that the financial results contain any material misstatement.

Auditor Notes on Consolidated Results:

  • Two subsidiaries included with total assets of ₹344.97 lakhs as at September 30, 2026
  • These subsidiaries had nil revenue and total net loss after tax of ₹1.41 lakhs for H1 FY27
  • Financial statements of Racks and Rollers FZ-LLC consolidated based on unreviewed financial information furnished by management

Related Party Transactions

Total value of related party transactions during the reporting period: ₹78.33 lakhs, primarily consisting of:

  • Remuneration to directors (Hanif Khatri: ₹7.80 lakhs, Khasim Sait: ₹10.80 lakhs, Arif Khatri: ₹10.80 lakhs, Afzal Hussian: ₹10.80 lakhs, Syed Azeem: ₹10.80 lakhs, Nuuman Khasim: ₹10.80 lakhs)
  • Reimbursements to directors (ranging from ₹0.27 lakhs to ₹4.82 lakhs)
  • Remuneration to promoter group employee Muneera Banu: ₹3.00 lakhs

All transactions were ratified by the Audit Committee on 11th November 2026.