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.

Bimetal Bearings Limited reported a 9.9% increase in net profit to ₹114.22 crore for the financial year ended March 31, 2026, compared to ₹103.99 crore in the previous year. Revenue from operations surged 24.2% to ₹2,969.84 crore from ₹2,390.78 crore in FY25. The board recommended a final dividend of ₹13.50 per share, amounting to ₹5.16 crore, for the year ended March 31, 2026.

The company’s profit before tax rose to ₹151.08 crore from ₹109.63 crore in the previous year. Earnings per share (EPS) increased to ₹29.86 from ₹27.19 in FY25. The growth was attributed to healthy market demand across all segments, with the passenger vehicle segment recording 7.9% growth and two-wheelers growing 10.7%.

Financial Performance

The standalone financial statements for FY26 were approved by the board on May 27, 2026. The company recorded a total comprehensive income of ₹82.55 crore for the year. The board also ratified the remuneration of cost auditors for FY27 and approved related party transactions with M/s. BBL Daido (P) Ltd. for an amount not exceeding ₹50.00 crore.

The company’s joint venture, BBL Daido Private Limited, achieved a turnover of ₹2,099.66 crore and earned a profit of ₹95.57 crore after taxes for the year 2025-2026. The auditors, M/s. Fraser & Ross LLP, issued an unmodified opinion on the standalone and consolidated financial statements.