EL Forge Limited has submitted its Annual Report for the financial year 2025-26 along with the notice of its 90th Annual General Meeting (AGM) to BSE Limited on June 25, 2026. The AGM is scheduled to be held on Monday, July 20, 2026, at 12:00 Noon at the company's Registered Office located at 1A, Sriperumbudur High Road (Via) Singaperumal Koil, Appur Village, Kattangulathur Onrium, Chengalpattu District 603204. The Annual Report and AGM notice have been dispatched to shareholders with registered email IDs, and the report has also been posted on the company's website.

Financial Performance for FY 2025-26

EL Forge reported steady growth in its financial performance for the year ended March 31, 2026. Revenue from operations (forgings) increased to Rs. 8040.81 Lakhs from Rs. 7612.96 Lakhs in the previous year. Net profit after tax rose to Rs. 243.52 Lakhs from Rs. 229.78 Lakhs. The following table summarises the key financial results:

The material cost for the year was at 57.83% of the sale value. The company reported Basic and Diluted Earnings per Share (face value Rs. 10 each) of Rs. 1.20 for FY 2025-26, compared to Rs. 1.13 in FY 2024-25. The Board of Directors has not recommended any dividend for the year under report, and no amount has been proposed for transfer to general reserves, with the entire profit forming part of Retained Earnings.

Balance Sheet and Cash Flow Highlights

The company's total assets stood at Rs. 4078.49 Lakhs as at March 31, 2026, compared to Rs. 3922.08 Lakhs as at March 31, 2025. Shareholders' funds increased to Rs. 2721.27 Lakhs from Rs. 2477.75 Lakhs. The company reported no borrowings from banks or financial institutions during the year. The following table provides a summary of the balance sheet:

Net cash flow from operating activities for FY 2025-26 was Rs. 314.25 Lakhs, compared to Rs. 240.48 Lakhs in FY 2024-25. Closing cash and cash equivalents stood at Rs. 529.51 Lakhs as at March 31, 2026, versus Rs. 401.84 Lakhs in the prior year. Foreign exchange earned during the year was Rs. 128.97 Lakhs, while foreign exchange used was Rs. 5.33 Lakhs.

AGM Agenda and Key Resolutions

The 90th AGM will transact both ordinary and special business. The ordinary business includes adoption of audited financial statements for the year ended March 31, 2026 and the reappointment of Mr. V. Srikanth (Chairman), who retires by rotation and offers himself for reappointment. The special business items to be considered at the AGM are as follows:

For the appointment of Mr. K. R. Srihari as Executive Director (Operations), the approved salary is Rs. 350000 per month in the grade of Rs. 350000-30000-470000, along with a special allowance of Rs. 25000 per month and House Rent Allowance of Rs. 150000 per month. The same remuneration structure applies to Mrs. Ananya Srikanth as Executive Director (Engineering & Marketing).

E-Voting and Corporate Governance

Shareholders may exercise their voting rights electronically through NSDL. The e-voting period commences on Tuesday, July 17, 2026 (9.00 AM) and ends on July 19, 2026 (5.00 PM). The cut-off date for determining shareholder eligibility for e-voting is July 13, 2026. Mrs. B. Venkatalakshmi has been appointed as the Scrutinizer to oversee the e-voting process. During FY 2025-26, the company had 146 employees on its rolls. The company's shares are listed on BSE Limited. The promoter shareholding as on March 31, 2026 stood at 40.78% of total paid-up capital of 2,03,24,304 equity shares.

El Forge Limited has restructured its Board and leadership with the appointment of two Executive Directors and two Independent Directors, effective June 2026. Mr. K.R. Srihari, currently the Chief Executive Officer, will transition to the role of Executive Director (Operations) following his elevation to the Board. The company also appointed Mrs. Ananya Srikanth as Executive Director (Engineering & Marketing). Both appointments are for a period of five years commencing June 18, 2026, subject to shareholder approval at the ensuing Annual General Meeting.

The Board approved the elevation of Mr. K.R. Srihari based on the recommendations of the Nomination & Remuneration Committee. Consequently, he has resigned from the position of Chief Executive Officer, effective from the close of business hours on June 17, 2026. Mr. K.R. Srihari is the son of Mr. K.V. Ramachandran, the Vice Chairman & Managing Director of the company. He has been working with El Forge since 2007 and holds an MBA from the National Australian University.

Mrs. Ananya Srikanth, appointed as Executive Director (Engineering & Marketing), brings nearly 14 years of experience to the role. She is a Mechanical Engineer with a Masters degree from Purdue University and an MBA from Columbia University. Her career includes roles in the Oil & Gas Industry in Houston and specializing in M&A and corporate strategy with a Big 4 consulting firm in New York and London. She is the daughter of Mr. V. Srikanth, the Chairman of the company.

In addition to the Executive Director appointments, the Board approved the appointment of Mr. S. Vasudevan and Mr. Niranjan Sivan as Additional Directors in the capacity of Independent Directors. Both appointments are effective June 4, 2026, for a term of five years, subject to ratification by shareholders at the ensuing Annual General Meeting. Mr. S. Vasudevan is an experienced professional with over four decades of industry experience, having previously worked with the Mac group, DLF group, and Embassy group. Mr. Niranjan Sivan is a Chartered Accountant and Chartered Management Accountant-London with two decades of experience in finance and management.

The Board also approved changes to the company's audit compliance roles. Mrs. Satyadevi Alamuri resigned as Secretarial Auditor effective June 4, 2026, following the completion of her term. The Audit Committee recommended the appointment of Mrs. B. Venkatalakshmi, a practicing Company Secretary, as the new Secretarial Auditor for a period of five years from FY 2026-27 to FY 2030-31, subject to shareholder approval.

The Board decided to hold the 90th Annual General Meeting of the company on July 20, 2026, at 11.30 AM. The meeting will be conducted at the registered office located at No.1A, Sriperumbudur High Road, Singaperumal Koil, Chengalpattu District. The disclosures regarding these changes were made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Summary of Appointments