Balu Forge Industries Limited has received shareholder approval to re-appoint Mr. Radhey Shyam Soni and Mrs. Shalu Laxmanraj Bhandari as Independent Directors for a period of two years. The resolutions were passed via a special resolution through a postal ballot process, ensuring the continuity of the board's leadership structure.

The postal ballot process, conducted in accordance with Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, saw a strong mandate from shareholders. The remote e-voting facility was open from May 28, 2026, to June 26, 2026, with the record date set as May 22, 2026. A total of 80,556 shareholders were on record as of the cut-off date.

Voting Results Summary

The scrutinizer's report confirmed that both special resolutions were passed with the requisite majority. The detailed voting patterns for the re-appointments are outlined below.

Breakdown by Shareholder Category

The voting participation varied across different categories of shareholders. The Promoter and Promoter Group cast 100% of their votes in favour of both resolutions. Public institutions and non-institutions also participated, with the majority supporting the re-appointments.

For the resolution regarding Mr. Radhey Shyam Soni, Public-Institutions cast 553,875 votes in favour and 48,289 against, while Public-Non Institutions cast 339,064 votes in favour and 883 against. For Mrs. Shalu Laxmanraj Bhandari's resolution, Public-Institutions cast 574,961 votes in favour and 27,203 against, whereas Public-Non Institutions cast 335,214 votes in favour and 1,233 against.

Procedural Compliance

The postal ballot notice was dispatched to shareholders on May 27, 2026, and advertisements were published in Business Standard, Navshakti, and The Free Press Journal on May 28, 2026. Jaymin Modi & Co, Practicing Company Secretaries, served as the scrutinizer for the process, ensuring the voting was conducted fairly and transparently. The results were declared on June 29, 2026.

Balu Forge Industries Ltd reported a financial performance for FY26 with revenue from operations reaching ₹11,074 Mn, a 19.9% increase from the previous year. The company’s Profit After Tax (PAT) stood at ₹2,589 Mn, reflecting a 27.0% year-on-year growth. The EBITDA for the period was ₹2,995 Mn with an EBITDA margin of 27.0%. The Basic EPS for FY26 was recorded at ₹23.90.

The company submitted its investor presentation to the exchanges following a non-deal roadshow held on June 24, 2026. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The presentation highlighted that the contribution from Defence, Aerospace & Railways sectors increased from 5% in FY24 to 13% in FY26. These strategic sectors now account for approximately 50% of the order book, supported by a 5-year MoU for large calibre ammunition and a 152mm artillery shell order.

Financial Performance

Capacity and Expansion

Balu Forge Industries is expanding its manufacturing footprint with a new greenfield facility in Belgaum spread over 46 acres. This facility aims to increase the total machining capacity to over 80,000+ MTPA and forging capacity to 1,50,000 MTPA. The company has commercialized a dedicated forging and machining line for Empty Shell production with a capacity of 360,000 shells per annum. Additionally, the firm secured a maiden aerospace order from Alpha Aircraft Systems Inc., USA, marking its entry into the global aerospace supply chain.

The company’s net debt position stood at ₹377 Mn for FY26, compared to a net cash position of ₹(603) Mn in the previous year. The credit ratings for the long-term and short-term borrowings are [ICRA] A – (Stable) and [ICRA] A 2 +, respectively.