Karamtara Engineering has appointed Mr. Tilokchand Punamchand Ostwal as a Director on the Board of Karamtara USA Inc., an unlisted material subsidiary. The appointment was approved by the parent company's Board and subsequently ratified by the subsidiary's Board on October 8, 2026.

Mr. Ostwal currently serves as an Independent Director of the parent company. This appointment is made pursuant to Regulation 24(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates that at least one Independent Director of the listed entity must be appointed to the Board of any unlisted material subsidiary, whether incorporated in India or abroad.

Appointment details

The term of Mr. Ostwal's appointment on the Board of Karamtara USA Inc. extends from October 8, 2026, to January 9, 2030. The disclosure confirms that Mr. Ostwal is not related to any Director of either Karamtara Engineering Limited or Karamtara USA Inc., ensuring independence in this cross-board role.

Professional background

Mr. Ostwal brings extensive experience in accounting and finance to the subsidiary's governance structure. He is a Fellow Member of the Institute of Chartered Accountants of India (ICAI) and a member of the United Nations Sub-Committee on Transfer Pricing. His professional tenure spans over 42 years, during which he has served as a Senior Partner with M/s Ostwal Desai & Kothari, M/s T. P. Ostwal & Associates LLP, and M/s DTS & Associates LLP.

The company confirmed that Mr. Ostwal is not debarred from holding the office of Director by virtue of any order passed by the Ministry of Corporate Affairs (MCA), the Securities and Exchange Board of India (SEBI), or any other authority. The intimation regarding this appointment is available on the company's website and the websites of BSE Limited and National Stock Exchange of India Limited.

Karamtara Engineering has set a target of 60% to 65% revenue growth for FY27 compared to the previous year, with Q2 already showing strong progress toward this goal.

Revenue growth target and seasonal breakdown

The company anticipates a seasonal distribution of revenue across the fiscal year. Karamtara Engineering expects 40% to 42% of annual revenue to be generated in the first half and 58% to 60% in the second half, reflecting a back-loaded revenue pattern typical of its business cycle.

FY27 performance expectations

The following table summarises the key guidance parameters shared by Karamtara Engineering for FY27:

The company's guidance points to a significantly higher revenue base in FY27, with the second half expected to contribute the larger share of annual earnings, consistent with the seasonal nature of its operations.