Amic Forging will convene its 19th Annual General Meeting on September 30, 2026, to transact ordinary and special business. The agenda includes the adoption of financial statements for FY26 and a significant revision in key managerial personnel remuneration.

The Board of Directors is seeking shareholder approval to increase the monthly salary of Managing Director Girdhari Lal Chamaria and Whole Time Director Anshul Chamaria from ₹5 lakh to ₹15 lakh each. This represents a 200% increase in their fixed compensation, effective April 1, 2025. The explanatory statement cites increased operational scale and complexity as justification for the revised pay structure.

Financial Performance FY26

For the financial year ended March 31, 2026, the company reported revenue from operations of ₹14,178.48 lakh, up from ₹12,131.58 lakh in the previous year. However, profit after tax declined to ₹2,827.71 lakh compared to ₹3,555.70 lakh in FY25. The drop in net profit occurred despite higher revenue, driven by a sharp contraction in other income.

Other income fell drastically to ₹103.28 lakh from ₹2,070.91 lakh in FY25, primarily due to the absence of significant profits on the sale of investments recorded in the prior year. Total expenses rose to ₹10,309.15 lakh from ₹9,659.93 lakh, reflecting higher employee benefit expenses and other operating costs.

Capital Raise and Dividend

The company completed a preferential allotment of 2,60,425 equity shares and 65,000 convertible equity warrants during the year, raising approximately ₹50 crore. Proceeds were utilized for capacity expansion and working capital requirements. The Board decided not to recommend any dividend for FY26, opting to reinvest earnings to support future growth initiatives and backward integration projects.

What the Numbers Show

The divergence between revenue growth and profit decline highlights the impact of non-recurring items on Amic Forging's bottom line. While core operations generated higher sales, the absence of investment gains that boosted FY25 results led to a lower net profit. Additionally, the proposed tripling of director salaries coincides with a period of reduced profitability, signaling management's confidence in long-term value creation despite short-term margin pressure.

Amic Forging has re-appointed its internal and cost auditors for the financial year 2026-27. The Board of Directors approved the appointments during a meeting held on August 31, 2026, at its registered office in Kolkata.

The re-appointments follow recommendations from the Audit Committee. The Board also approved the remuneration for the cost auditors, subject to shareholder approval at the forthcoming Annual General Meeting.

Auditor Details

The company retained Kumar Sanjeev and Associates for internal audit duties. The firm is led by CA Sanjeev Kumar, who holds Firm Registration No. 328267E and possesses over 12 years of experience in accounts and audit.

For cost audit responsibilities, Amic Forging re-appointed Sohan Lal Jalan & Associates. The partnership firm, holding Firm Registration No. 000521, is led by senior partner Sohan Lal Jalan. He holds qualifications as a CA, CS, and CMA, with more than 40 years of industry experience.

Regulatory Compliance

The disclosures align with Regulation 30 read with Schedule III of the SEBI Listing Regulations. The Board meeting commenced at 3:30 pm and concluded at 5:00 pm on August 31, 2026.