Baheti Recycling Industries Limited has initiated a postal ballot process seeking shareholder approval for seven special resolutions, including the migration of its equity shares from the SME platform of the National Stock Exchange of India Limited (NSE) to the main board of NSE and a direct listing on the main board of BSE Limited. The company also seeks approval for the appointment of two independent directors and the revision of remuneration for its whole-time and managing directors. The remote e-voting period is open from June 26, 2026, at 09:00 a.m. IST to July 25, 2026, at 05:00 p.m. IST.

The Board of Directors, at its meeting held on June 18, 2026, approved the proposal to migrate the listing of 1,04,46,905 equity shares from the Emerge platform to the main board of NSE and secure a direct listing on the BSE main board. The company has been listed on the SME platform since December 08, 2022, for over three years and believes it meets the eligibility criteria for migration. This move aims to enhance brand visibility, market presence, and liquidity. Additionally, the board approved the appointment of Mr. Judhisthir Behera and Mr. Mahadevan Viswanathan as Independent Directors for a term of five years commencing June 18, 2026.

Key Voting Details

The postal ballot also includes resolutions to increase the managerial remuneration of Mr. Shankerlal Shah, Whole-Time Director; Mr. Balkishan Shankerlal Shah, Managing Director; and Mr. Yash Shankerlal Shah, Joint Managing Director. The proposed remuneration revision is effective from April 01, 2026, up to the remainder of their respective tenures in March 2027. The proposed remuneration for each director shall not exceed ₹12,00,000 per month.

Mr. Rutul Shukla, a Practicing Company Secretary, has been appointed as the Scrutinizer to ensure the postal ballot process is conducted fairly. The company has engaged Purva Sharegistry (India) Private Limited to provide the remote e-voting facility. Shareholders holding shares in physical or electronic form as of the cut-off date of June 19, 2026, are eligible to participate. The notice has been dispatched electronically, and physical copies have not been sent in compliance with Ministry of Corporate Affairs circulars.

Baheti Recycling Industries reported a net profit of ₹926.75 lakh for the half year ended September 30, 2025, an increase from ₹702.05 lakh in the corresponding period of the previous year. Revenue from operations rose to ₹31,513.57 lakh from ₹25,718.55 lakh, driven by the company's Castings & Forgings segment. The Board of Directors approved the unaudited standalone financial results for the period on November 14, 2025.

Total income for the half year stood at ₹31,515.33 lakh, up from ₹25,737.77 lakh in the prior year period. Total expenses increased to ₹30,317.43 lakh from ₹24,789.10 lakh. The company reported a basic earnings per share (EPS) of ₹8.94 for the period, compared to ₹6.77 in the same period last year.

Financial Performance

The company’s financial results for the half year and year ended September 30, 2025, were reviewed by the statutory auditors. The table below summarizes the key financial metrics:

Assets and Liabilities

As of September 30, 2025, the company's total assets stood at ₹32,936.94 lakh, compared to ₹24,880.42 lakh as of March 31, 2025. Shareholders' funds increased to ₹6,839.08 lakh from ₹5,912.34 lakh in the previous fiscal year end. Short-term borrowings rose significantly to ₹19,126.08 lakh from ₹12,723.26 lakh.

Cash Flow and Disclosures

The net cash flow from operating activities was negative at ₹(4,900.73) lakh, while financing activities provided a net inflow of ₹5,240.55 lakh. The company confirmed that there is no change in the financial results already submitted, except for the inclusion of comparative figures for September 2024 in the Cash Flow Statement, as sought by the exchange.