Mipco Seamless Rings (Gujarat) Limited regularised Mr. Shir Sagar Pandey as a non-executive and non-independent director during its board meeting on September 3, 2026.

The board also approved the convening of the company's 46th annual general meeting for September 29, 2026. The meeting will address the alteration of the object clause in the Memorandum of Association to align with proposed business dynamics.

Board Approvals

The directors approved the following key items:

• Regularisation of Mr. Shir Sagar Pandey (DIN: 07656863) from additional director to non-executive and non-independent director.
• Alteration of the object clause in the Memorandum of Association, subject to member approval.
• Appointment of Mrs. Prity Bishwakaram, proprietor of M/s. Prity Bishwakarma & Co., as the scrutinizer for the e-voting process at the upcoming AGM.

AGM Details

The notice for the 46th AGM, along with the directors' report and annexures forming part of the annual report for FY25-26, will be circulated to members in due course. These documents will also be available on the company website.

Mipco Seamless Rings (Gujarat) Limited returned to profitability in the financial year ended March 31, 2026, reporting a net profit of ₹8.76 lakh compared to a net loss of ₹10.46 lakh in the previous year. The company's revenue from operations surged to ₹431.12 lakh for FY26, up from nil in the prior year, driven by operational activities. The Board of Directors approved the audited financial results for the quarter and year ended March 31, 2026, at a meeting held on May 30, 2026.

The statutory auditor, M/s. Bijan Ghosh & Associates, Chartered Accountants, issued an unmodified report on the financial results, confirming compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company operates in a single segment, and the results were prepared in accordance with Indian Accounting Standards (Ind AS). The Audit Committee reviewed and recommended the results for approval.

Financial Performance

For the quarter ended March 31, 2026, the company reported a revenue from operations of ₹316.66 lakh and a net profit of ₹11.73 lakh. Total expenses for the quarter stood at ₹304.93 lakh. Earnings per equity share (basic and diluted) for the quarter were ₹0.33, compared to ₹0.06 in the same period last year.

Key Financial Metrics

Balance Sheet Highlights

The company's total assets increased to ₹88.60 lakh as of March 31, 2026, from ₹16.39 lakh in the previous year. Equity and liabilities stood at ₹88.60 lakh, with non-current liabilities of ₹160.48 lakh and current liabilities of ₹47.83 lakh. Cash and cash equivalents improved significantly to ₹19.38 lakh from ₹2.90 lakh, reflecting stronger liquidity.