Lakshmi Electrical Control Systems Limited has scheduled its 45th Annual General Meeting for July 31, 2026, at 09.45 A.M. IST in Coimbatore. The meeting will seek shareholder approval for financial statements for the year ended March 31, 2026, and material related party transactions aggregating ₹550 crore. The company proposes to enter into transactions worth up to ₹450 crore with LMW Limited and up to ₹100 crore with Lakshmi Precision Technologies Limited until the conclusion of the next AGM.

The Board recommends the appointment of M/s. NRD Associates as statutory auditors for a term of five years from FY27 to FY31, replacing M/s. Subbarchar & Srinivasan. Shareholders will also consider ratifying the remuneration of ₹40,000 for the cost auditor, Sri S. Subbaraman, for FY27. Additionally, the meeting will propose the re-appointment of Sri D. Senthilkumar, Director, who retires by rotation.

Related Party Transactions

The company requires shareholder approval for transactions with related parties that exceed 10% of its annual consolidated turnover. The proposed transactions with LMW Limited involve the purchase of control panel components and the sale of control panels and engineering plastics. These transactions are estimated at ₹275 crore for FY27 and ₹175 crore for FY28.

Transactions with Lakshmi Precision Technologies Limited include the purchase of sheet metal cabinets and the sale of engineering components. The estimated limits for these transactions are ₹60 crore for FY27 and ₹40 crore for FY28. Both sets of transactions will be conducted on an arm's length basis.

Auditor and Director Appointments

M/s. NRD Associates, Chartered Accountants, have been recommended for appointment as statutory auditors following the completion of two terms by the incumbent firm. The proposed fee for the first year is ₹3,50,000. The company also seeks ratification for the cost auditor's remuneration, fixed by the Board.

Sri D. Senthilkumar (DIN: 00006172) is eligible for re-appointment as a Director. He holds 100 shares in the company and serves as the Chairman of the Corporate Social Responsibility Committee. The Articles of Association will also be amended to align with the Companies Act, 2013.

AGM Details

The register of members will remain closed from July 25, 2026, to July 31, 2026. Dividend, if declared, will be paid to members whose names appear on the register of members as on July 24, 2026. Remote e-voting will be available from July 28, 2026, to July 30, 2026.

Lakshmi Electrical Control Systems Limited reported a 65.8% decline in net profit to ₹118.70 lakh for the financial year ended March 31, 2026, despite revenue from operations rising 11.9% to ₹2,375.81 crore. The company’s profit after tax decreased by ₹228.53 lakh compared to the previous financial year, primarily due to higher expenses and exceptional items.

The board of directors has recommended a dividend of 30%, or ₹3 per equity share of ₹10 face value, for the financial year ended March 31, 2026. The dividend is subject to shareholder approval at the annual general meeting scheduled for July 31, 2026. The record date for determining dividend eligibility is July 24, 2026.

Financial Performance

Revenue from operations increased to ₹2,375.81 crore in FY26 from ₹2,123.12 crore in the previous year. However, the profit before interest and depreciation fell to ₹599.08 lakh from ₹1,037.25 lakh in FY25. The company reported an exceptional item of ₹1.74 lakh related to an incremental contribution to the group gratuity.

The Electricals segment achieved a turnover of ₹2,031.64 crore, while the Plastics segment recorded ₹358.96 crore. Revenue from wind power generation stood at ₹8.16 crore.

Auditor Appointment and Ratifications

The board recommended the appointment of M/s. NRD Associates, Chartered Accountants, as the statutory auditors for a term of five years from FY27 to FY31, replacing M/s. Subbachar & Srinivasan, who have completed their two-term limit. The proposed fees for the new auditors for FY27 is ₹3.50 lakh.

Shareholders will also vote on the ratification of the remuneration for the cost auditor, Sri S. Subbaraman, fixed at ₹40,000 for FY27.

Related Party Transactions

The company sought shareholder approval for material related party transactions with LMW Limited and Lakshmi Precision Technologies Limited. The proposed transaction limit with LMW Limited is ₹450 crore, while the limit with Lakshmi Precision Technologies Limited is ₹100 crore for the period until the next annual general meeting.

The annual general meeting is scheduled to be held on July 31, 2026, at Nani Kalai Arangam in Coimbatore.