Austin Engineering Company Ltd held its 48th Annual General Meeting on September 28, 2026, adopting the audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026.

The meeting, presided over by Chairman Hiren N. Vadgama, saw the attendance of 35 members. The proceedings included the re-appointment of Mr. Vadgama as a director retiring by rotation and the ratification of remuneration for the company's cost auditor.

Key resolutions passed

All three resolutions tabled at the meeting were passed by the requisite majority of members present and voting electronically or by physical ballot.

Voting and scrutiny process

The company facilitated e-voting through Central Depository Services Limited (CDSL) from September 25 to September 27, 2026. Members unable to vote electronically cast their votes via physical ballot during the meeting.

Kaushik Shah, proprietor of M/s K J Shah & Company, served as the scrutinizer for both electronic and physical voting processes. The Executive (Secretarial) officer managed the ballot procedures for the three ordinary resolutions.

Governance updates

Hiren N. Vadgama, who retires by rotation and is eligible for re-appointment, continues his role on the board. The shareholders also ratified the appointment of M/s Sagar M. Kapadiya & Company, Cost Accountants based in Rajkot, as cost auditors for FY27.

The ratified remuneration for the cost auditor stands at ₹50,000 per annum plus applicable taxes, excluding reimbursement of out-of-pocket expenses. This decision aligns with Section 148(3) of the Companies Act, 2013.

Austin Engineering Company reported a 25.9% increase in standalone net profit to ₹444.08 lakh for FY26, compared to ₹352.67 lakh in the previous year. Revenue from operations grew 15.95% to ₹11,933.61 lakh, supported by higher export volumes.

The Junagadh-based bearing manufacturer decided to retain all profits earned during the financial year to strengthen reserves and support business expansion. Consequently, the Board of Directors did not recommend any dividend payout for FY26.

Financial Performance

The company’s gross profit before interest, depreciation, and tax (PBIT) rose to ₹836.01 lakh from ₹631.09 lakh in FY25. Profit before tax (PBT) increased to ₹638.07 lakh from ₹446.16 lakh, reflecting improved operational efficiency and cost management.

What the Numbers Show

Export sales accounted for 52.46% of total revenue in FY26, up from approximately 55.8% in FY25. While absolute export values grew by nearly ₹518 lakh, domestic sales expanded more sharply, rising from ₹4,385.40 lakh to ₹5,573.33 lakh. This shift indicates a growing reliance on the domestic market to offset slower growth rates in international territories.

Corporate Governance Updates

Mr. Jagdishchandra B. Jagani resigned as an Independent Director effective May 20, 2026, due to personal reasons. Following his exit, Ms. Isha K. Thanki was appointed as the new Chairman of the Audit Committee via a resolution by circulation on the same date. The Board remains compliant with SEBI LODR regulations regarding committee composition.

The company also initiated compliance with Corporate Social Responsibility (CSR) provisions for FY27, having met the net profit criteria under Section 135 of the Companies Act, 2013 during FY26. A CSR policy was approved by the Board on May 27, 2026.

Shareholder Information

The 48th Annual General Meeting is scheduled for September 28, 2026, at 11:00 am at the registered office in Patla, Junagadh. Key agenda items include the adoption of audited standalone and consolidated financial statements for the year ended March 31, 2026, and the re-appointment of Mr. Hiren N. Vadgama as Chairman & Executive Director.