Krishanveer Forge Limited reported a net profit of ₹1.99 crore for the quarter ended June 30, 2026 (Q1FY27), marking a 3.6% decline from ₹2.07 crore in the corresponding period of the previous year. Revenue from operations fell 6.4% year-on-year to ₹22.13 crore, reflecting softer demand or pricing pressures in its forging segment. The company’s total comprehensive income stood at ₹2.04 crore, while earnings per share (EPS) decreased to ₹1.825 from ₹1.893 in the prior year quarter.

The Board of Directors approved the unaudited financial results on August 5, 2026, following a limited review by statutory auditors Gokhale, Tanksale & Ghatpande. The results comply with Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and are prepared in accordance with Ind AS 34. The Audit Committee reviewed the figures before their final approval by the Board. The advertisement containing the extract of the results was published in Financial Express and Loksatta on August 6, 2026, pursuant to Regulation 47 of SEBI LODR.

Financial Performance Breakdown

Revenue from operations declined to ₹22.13 crore in Q1FY27 from ₹23.64 crore in Q1FY26. However, other income rose to ₹45.77 lakh from ₹32.72 lakh, partially offsetting the operational dip. Total income decreased marginally to ₹22.59 crore from ₹23.97 crore.

Profit before tax increased 6.0% to ₹27.56 lakh, aided by lower tax expenses due to deferred tax benefits. Current tax was ₹78.15 lakh against ₹62.41 lakh in the previous year, but deferred tax credits of ₹2.07 lakh helped reduce the effective tax burden.

What the Numbers Show

While revenue contracted, the company managed to improve pre-tax profitability through cost efficiencies. Total expenses fell 7.2% to ₹19.83 lakh, primarily driven by a significant reduction in inventory changes (₹33.92 lakh credit vs. ₹5.74 lakh credit previously) and lower cost of materials consumed. However, gas consumption costs rose 12.8% to ₹48.75 lakh, indicating potential input cost pressures that may impact future margins if not passed on to customers.

Corporate Actions and Governance

The Board fixed September 11, 2026, as the record date for determining entitlement to the FY26 dividend, subject to shareholder approval at the upcoming Annual General Meeting (AGM). The register of members will remain closed from September 12 to September 18, 2026.

The 36th AGM is scheduled for September 18, 2026, via Video Conferencing or Other Audio-Visual Means (OAVM). Remote e-voting will be open from September 15 to September 17, 2026. M/s. Satish & Satish has been appointed as the scrutinizer for the e-voting process under Regulation 44 of SEBI LODR Regulations, 2015.

New Independent Directors

Based on the Nomination and Remuneration Committee’s recommendation, the Board proposed the appointment of Mr. Ravi Kapoor and Ms. Vijeta Subhash Kulkarni as Independent Directors for a five-year term starting December 1, 2026. Both candidates have no relationship with existing directors and are not debarred by SEBI or any other authority.

Krishanveer company name has recommended the appointment of Ravi Kapoor and Vijeta Subhash Kulkarni as Independent Directors to strengthen its governance framework. The Board of Directors approved the nominations on August 05, 2026, based on the recommendation of the Nomination and Remuneration Committee. The appointments are subject to ratification by members at the company's ensuing Annual General Meeting. This move ensures continuity in board oversight with seasoned professionals bringing expertise in finance and human resources.

The proposed directors will serve a first term of five consecutive years, commencing from December 01, 2026, and ending on November 30, 2031. The Board confirmed that both appointees satisfy the independence criteria prescribed under Section 149(6) of the Companies Act, 2013, and Regulation 16(1)(b) of the SEBI Listing Regulations. Furthermore, the company affirmed that neither candidate is debarred from holding office by SEBI or any other authority.

Director Profiles

Ravi Kapoor brings over 36 years of experience in finance, commercial management, and strategic leadership. He holds a Bachelor's Degree in Metallurgical Engineering from IIT Bombay and a Master's Degree in Management Studies (Finance) from JBIMS, Mumbai. His career includes senior leadership roles such as Chief Financial Officer in manufacturing organizations, with expertise in corporate governance, risk management, and regulatory compliance.

Vijeta Subhash Kulkarni offers more than 21 years of experience in Human Resources and Corporate Governance across healthcare, manufacturing, automotive, and BFSI sectors. She holds a Master's Degree in Personnel Management from Savitribai Phule Pune University and a Bachelor's Degree in Commerce. Her expertise covers human capital strategy, organizational development, ESG matters, and Nomination & Remuneration Committee affairs.

Regulatory Compliance

The intimation was filed pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mahendra Ravso Samdole, Company Secretary and Compliance Officer, signed the disclosure submitted to BSE Limited. The filing confirms that both directors are unrelated to any existing director of the company, ensuring adherence to independence norms.