Hawa Engineers Limited shareholders approved all three ordinary resolutions proposed at its 33rd Annual General Meeting (AGM) held on September 28, 2026. The meeting was conducted through Video Conferencing and Other Audio Visual Means, with voting results finalized on September 29, 2026.

The resolutions covered the adoption of standalone financial statements for FY26, the re-appointment of a director, and the ratification of cost auditor remuneration for FY27. All items passed with overwhelming support, reflecting strong alignment between management and participating shareholders.

Voting participation details

The AGM saw active participation primarily through remote e-voting, with no votes cast during the live video conference session. A total of 21 members participated in the remote e-voting process, representing 11,50,238 shares. The scrutiny report confirmed that zero members voted against any resolution during the live session, while a negligible number of dissenting votes were recorded in the remote category.

Resolution outcomes

All three ordinary resolutions were passed with near-unanimous consent. The specific voting breakdown is detailed below:

Key observations on shareholder engagement

The voting data reveals a distinct pattern in shareholder engagement methods. While 3,113 shareholders were on record as of September 21, 2026, only 21 members exercised their voting rights via remote e-voting. Notably, zero shareholders cast votes during the live Video Conferencing session, indicating that all participating equity holders preferred the asynchronous remote voting facility over real-time digital attendance. The total votes polled represented approximately 32.6% of the outstanding shares, with promoters holding a significant majority of the voting power exercised.

Hawa Engineers Limited reported a 23% year-on-year rise in profit after tax (PAT) to ₹264.66 million for FY26, driven by improved operating margins despite a decline in revenue.

The Ahmedabad-based industrial valve manufacturer posted revenue from operations of ₹1,140.36 million, down from ₹1,210.62 million in FY25. However, earnings before interest, tax, depreciation, and amortization (EBITDA) grew by 18% to ₹733.47 million.

Financial Performance

Note: The Board's Report cites PAT of ₹159.58 million for the prior year, while the Statement of Profit and Loss discloses ₹215.71 million. The headline growth reflects the Board's comparative figure.

Operating profit margin expanded to 5.68% from 5.15% in the previous year. Net profit margin more than doubled to 2.32% from 1.32%.

Balance Sheet and Cash Flow

Cash and cash equivalents increased significantly to ₹1,677.86 million as of March 31, 2026, from ₹947.88 million in FY25. This was supported by net cash from operating activities of ₹445.93 million.

Total borrowings rose to ₹2,178.69 million (combining current and non-current liabilities), up from ₹1,621.21 million in FY25. Trade receivables increased to ₹2,526.40 million from ₹2,027.70 million.

AGM and Corporate Governance

The company has scheduled its 33rd Annual General Meeting (AGM) for Monday, September 28, 2026, at 4:00 pm via Video Conferencing or Other Audio Visual Means (VC/OAVM). Shareholders on record as of Monday, September 21, 2026, are eligible to vote. Remote e-voting will run from Friday, September 24, 2026, at 9:00 am to Monday, September 27, 2026, at 5:00 pm.

Agenda Items

The board has outlined the following business for the meeting:

• Adoption of the audited standalone financial statements for the fiscal year ended March 31, 2026.
• Re-appointment of Mohammedkhan Pathan as a director, who retires by rotation.
• Ratification of remuneration for cost auditors for the financial year ending March 31, 2027.

Cost Auditor Remuneration

The company seeks member approval to pay M/s. R J & Associates a fee of ₹50,000 plus applicable taxes and out-of-pocket expenses. This remuneration is for conducting the cost audit for the financial year 2026-27.

Director Re-appointment

Mohammedkhan Pathan (DIN: 00006940) seeks re-appointment. He holds a Master of Engineering in Mechanical and has served as a director since April 30, 2004. His last drawn remuneration in FY26 was ₹1,200,000. He holds 249,000 equity shares in the company.

What the Numbers Show

Despite a 5.8% decline in top-line revenue, Hawa Engineers achieved a significant expansion in profitability metrics. The divergence between falling sales and rising EBITDA suggests successful cost management or a shift towards higher-margin product mixes. Furthermore, the substantial increase in cash reserves indicates strong liquidity positioning, even as total borrowings increased to support operations or inventory buildup.