Menon Bearings promoters reduced their aggregate stake in the company by 1.77% following a series of open-market sales. The promoter group disposed of a total of 9,96,909 shares between September 18, 2024, and August 14, 2026. This transaction brings the promoter group’s total holding down from 68.44% to 66.67% of the total voting capital.

The sale was executed by three members of the promoter group: Aditya Nitin Menon, Anshul Nitin Menon, and Sucheta Nitin Menon. Other key promoters, Nitin Menon and Menon United Private Limited, did not participate in the disposal and retained their existing stakes.

Shareholding Changes

The disclosure filed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, details the specific movements in shareholding:

Post-Transaction Holding

Following the sales, the promoter group continues to hold a controlling interest in the company. The total equity share capital remains unchanged at 5,60,40,000 shares.

The disclosure was submitted by Aditya Nitin Menon on behalf of himself and persons acting in concert (PAC). The shares were sold exclusively through the open market mechanism.

Menon Bearings Limited shareholders approved the adoption of audited financial statements for FY26 and noted the payment of an interim dividend of ₹2 per equity share during its 35th Annual General Meeting (AGM) held on August 6, 2026. The meeting, conducted via Video Conferencing/Other Audio Visual Means (VC/OAVM), also saw the re-appointment of Executive Chairman Nitin Menon and the appointment of Rajendra Girjappa Sonkawade as a Non-Executive Non-Independent Director. All five ordinary resolutions passed with overwhelming support, reflecting strong shareholder confidence in the company’s governance and performance.

The AGM commenced at 11:00 A.M. at the company’s registered office in Kolhapur, which served as the deemed venue. Arun Aradhye, Managing Director, chaired the proceedings in the absence of Nitin Menon. CS Manish Baldeva of M Baldeva Associates served as the scrutinizer for the e-voting process facilitated by MUFG Intime India Private Limited. Remote e-voting was open from August 2 to August 5, 2026, while members present via VC could vote during the meeting. A total of 70 shareholders attended virtually, establishing the requisite quorum.

Key Resolutions Passed

Shareholders voted on five agenda items. The most significant outcomes included the ratification of cost auditor fees for FY27 and the approval of the interim dividend declared on July 25, 2025. The voting results demonstrate near-unanimous support across promoter and public categories for all key business items.

Board and Governance Updates

The re-appointment of Nitin Menon, who retired by rotation, received 99.99% support. Additionally, Rajendra Girjappa Sonkawade was appointed as a Non-Executive Non-Independent Director, a resolution that also passed with nearly unanimous approval. Siddheshwar Kadane, Company Secretary & Compliance Officer, highlighted that while Statutory Auditors’ reports contained no qualifications, Secretarial Auditors had made one observation, details of which were provided in the Board of Directors’ Report.

Voting Participation Analysis

Promoter and Promoter Group shareholders held 38,355,174 shares and cast 35,110,196 votes in favor of the financial statements and dividend note, representing 91.54% of their outstanding shares. Public non-institutional shareholders polled 96,734 votes, with 99.06% in favor of the financials. The high participation rate and strong majority indicate robust stakeholder alignment with management’s strategic direction and financial reporting for FY26.