Maiden Forgings has announced the book closure dates for its 21st Annual General Meeting (AGM). The company’s register of members and share transfer books will remain closed from September 21, 2026, to September 28, 2026, inclusive.

The AGM is scheduled to take place on Monday, September 28, 2026. This closure period is necessary to ascertain the names of shareholders entitled to vote on the businesses transacted at the meeting.

Voting Eligibility

The company has fixed Monday, September 21, 2026, as the cut-off date for remote e-voting. Shareholders holding shares either in physical form or in dematerialized form as of this date will be eligible to cast their votes electronically.

This intimation is issued pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Monika Negi, Company Secretary and Compliance Officer of Maiden Forgings Limited, confirmed the details in a filing with the BSE.

Maiden Forgings Limited reported a 9% year-on-year rise in revenue from operations for FY26, reaching ₹2,316.1 crore, but saw its net profit decline by 17% to ₹50.2 crore due to increased expenses and adverse market conditions.

The Ghaziabad-based forging manufacturer filed its annual report for the financial year ended March 31, 2026, alongside the notice for its 21st Annual General Meeting (AGM) scheduled for September 28, 2026. The board had previously convened on September 1, 2026, to approve auditor appointments and governance decisions for the upcoming fiscal year.

Financial Performance

Total revenue stood at ₹2,339.6 crore in FY26, compared to ₹2,135.7 crore in FY25. While operating revenue grew, total expenses rose to ₹2,270.2 crore from ₹2,050.3 crore in the previous year. Profit before tax fell to ₹69.4 crore from ₹85.4 crore, leading to a net profit after tax of ₹50.2 crore, down from ₹60.5 crore in FY25.

Exports contributed ₹46.1 crore to the top line. The company did not declare any dividend for FY26 to strengthen its financial position.

Auditor Appointments and Governance

The company appointed M/s Vivek Agrawal & Co as its cost auditor for FY27. The remuneration for this appointment, set at ₹75,000 plus applicable taxes, requires ratification by shareholders at the AGM. M/s Mohit Singhal & Associates was named as the secretarial auditor, and M/s M Lal & Co as the internal auditor for the term.

Ms. Nivedita Garg, Whole Time Director, retires by rotation at the AGM but has offered herself for re-appointment. The board has recommended her re-appointment to shareholders. Ms. Garg holds 60.57 lakh equity shares, representing 42.62% of the company’s paid-up capital.

Capital Structure and Failed Preferential Issue

The authorized share capital remained unchanged at ₹20 crore, with issued and paid-up capital at ₹14.21 crore. During FY25, the board had approved a preferential issue of up to 25 lakh equity shares at ₹100 per share. Although BSE granted in-principle approval in December 2025, the allotment did not proceed as the proposed investor failed to remit funds within the stipulated period.

What the Numbers Show

While Maiden Forgings managed to grow its top line nearly 9%, the bottom line contracted significantly. Finance costs remained high at ₹67.8 crore, consuming approximately 98% of the pre-tax profit of ₹69.4 crore. This indicates that despite operational revenue growth, the company’s profitability remains heavily leveraged and sensitive to interest expenses and working capital dynamics, as evidenced by the rise in trade receivables to ₹394.2 crore from ₹296.9 crore in FY25.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE0O1T01010/6429ad75-9ae8-4f71-8807-079a7092f0af.pdf