Bimetal Bearings Limited shareholders approved a 135% dividend payout and authorized related party transactions worth up to ₹50 crore during its 65th Annual General Meeting (AGM) held on July 20, 2026. The resolutions passed via video conferencing reflect strong investor confidence, with nearly unanimous support for all key agenda items, including the adoption of financial statements for FY26 and the re-appointment of retiring director A. Krishnamoorthy.

The AGM was conducted through Video Conferencing (VC) / Other Audio Visual Means (OAVM), complying with exemptions granted by the Ministry of Corporate Affairs (MCA) and SEBI. S. Narayanan, Whole Time Director, chaired the meeting in the absence of Chairman A. Krishnamoorthy. Fifty-one members were present on the NSDL e-voting platform, representing 78.86% electronic voting participation. The proceedings were scrutinized by V.R. Sankaranarayanan of KSR & Co Company Secretaries LLP.

Key Resolutions Passed

Shareholders voted on five primary items, all of which received overwhelming support. The voting results for each resolution are detailed below:

The dividend resolution approved a payout of ₹13.50 per share, totaling ₹5,16,37,500, from profits for the year ended March 31, 2026. Additionally, shareholders ratified the remuneration of ₹1,25,000 (exclusive of taxes and expenses) to M/s. C.S.Hanumantha Rao & Co., Cost Accountants, for FY27.

Related Party Transactions and Governance

A significant portion of the AGM focused on approving material related party transactions with BBL Daido Private Limited. Shareholders authorized purchases, sales, and other transactions not exceeding ₹50 crore for the period from July 20, 2026, until the next AGM in 2027, subject to a maximum duration of 15 months. These transactions must be conducted in the ordinary course of business on an arm's length basis, as determined by the Audit Committee or Board of Directors.

The approval aligns with Regulations 2(1)(zc) and 23(4) of the SEBI (LODR) Regulations, 2015, and Section 148 of the Companies Act, 2013. The low number of votes against these resolutions indicates minimal shareholder concern regarding the governance structure of these intra-group dealings.

What the Numbers Show

Management highlighted robust operational performance during the chairman’s address, noting a 14.54% year-over-year growth in top-line revenue. This growth was primarily driven by the entry of additional customers and the launch of new programs for existing clients. Notably, the powder segment recorded a 17% growth, outpacing the overall company average, suggesting a successful diversification strategy. While the electric vehicle (EV) battery section remains in the trial and sample preparation phase, management emphasized that investment in internal combustion engine parts continues despite the rise in EV sales, indicating a balanced approach to emerging mobility trends.

Bimetal Bearings Limited declared a dividend of ₹13.50 per share and approved material related party transactions worth ₹50 crore with M/s. BBL Daido (P) Ltd. during its 65th Annual General Meeting held on July 20, 2026. The meeting, conducted via video conferencing, also saw the adoption of audited financial statements for the financial year ended March 31, 2026, and the ratification of cost auditor remuneration for FY2026-27.

The proceedings of the 65th Annual General Meeting commenced at 4.00 p.m. on July 20, 2026. Mr. S. Narayanan, Whole Time Director, was elected as the Chairman of the meeting. The requisite quorum was present at the commencement and throughout the meeting. All directors were present except Mr. A. Krishnamoorthy, Non-Executive Director and Chairman of the company, who was unable to attend due to health issues.

Shareholders approved five items of business, including the adoption of standalone and consolidated audited financial statements for the financial year ended March 31, 2026. The Board's recommendation to declare a dividend of ₹13.50 per share was also ratified. Additionally, the meeting considered the re-appointment of Mr. A. Krishnamoorthy, who retired by rotation at the AGM.

The ratification of remuneration for cost auditors for the financial year 2026-2027 was approved. Shareholders also sanctioned material related party transactions with M/s. BBL Daido (P) Ltd. for an amount of ₹50 crore. These transactions are valid from the conclusion of the 65th AGM up to the conclusion of the 66th AGM, subject to a maximum period of 15 months from July 20, 2026.

The resolutions were subject to e-voting, which was available during the meeting. The results of the e-voting, along with the scrutinizer's report, will be uploaded to the website of M/s. BSE Limited within two working days and subsequently to the company's website. The meeting concluded at 4.42 p.m. with a vote of thanks.