National Fittings reported record financial performance for the fiscal year ended March 2026, driven by improved operational efficiencies and strategic restructuring. Revenue from operations grew 16.98% to ₹91.40 crore, while total income increased 18.61% to ₹96.19 crore. The company highlighted that its underlying profitability improved significantly, with profit before tax (excluding exceptional items) rising 85.8% from ₹7.02 crore in FY25 to ₹13.04 crore in FY26.

The reported net profit after tax stood at ₹910.68 crore, lower than the previous year’s ₹2,330.34 crore. This decline was primarily due to a one-time exceptional gain of ₹1,921.63 crore in FY25 arising from the sale of foundry units. Excluding this non-recurring item, the company’s core operating performance demonstrated substantial improvement.

Strategic Restructuring and Promoter Change

A significant development during FY26 was the completion of the promoter group transition. M/s Himgiri Castings Private Limited, along with persons acting in concert, became the new promoter group, bringing over 40 years of industry experience in pipe fittings and castings. This shift aligns with the company’s strategy to secure raw material supply and reduce dependency on external related-party suppliers.

The Board of Directors approved a scheme of arrangement on May 22, 2026, to merge M/s Banil Castings Private Limited and M/s Avisa Private Limited into National Fittings Limited. Upon completion, the company will operate two fully integrated manufacturing locations in Goa and Gujarat, each capable of independent casting and finishing processes.

Capacity Expansion and Market Focus

National Fittings is establishing a new fully integrated manufacturing facility in Mudhela, Gujarat, with a capacity of 2,500 MT per month (approximately 30,000 MT per annum). This represents over four times the current capacity of 600 MT per month. Phase I of the project, involving an investment of ₹60 crore, has already commenced.

The company is also shifting its registered office from Tamil Nadu to Gujarat to align with its new operational center of gravity. Strategically, National Fittings is focusing on the Indian domestic market, leveraging its status as a 100% Made-in-India OEM. It is seeking vendor approvals from key entities including Engineers India Limited (EIL), Military Engineer Services (MES), and the Defence Research and Development Organisation (DRDO) to access government infrastructure tenders.

What the Numbers Show

The divergence between reported net profit and operating profit highlights the impact of non-recurring items on historical comparisons. While total income rose by ₹15.09 crore (₹96.19 crore vs ₹81.10 crore), the profit before tax excluding exceptional items nearly doubled. This suggests that the operational consolidation undertaken in FY23-24 and FY24-25, including the relocation of foundry operations, is translating into better utilization and tighter cost control. Additionally, the company maintained a strong balance sheet with shareholders’ funds increasing to ₹89.05 crore and cash and cash equivalents at ₹44.23 crore.

Dividend and Corporate Actions

The Board recommended a final dividend of ₹1 per equity share, aggregating to ₹90.83 crore, subject to shareholder approval at the 33rd Annual General Meeting scheduled for September 16, 2026. The record date for dividend eligibility is September 9, 2026.

Mrs. A. Panath Anitha and Mr. A.V. Palaniswamy resigned from the Board of Directors effective October 18, 2025. Mr. Arpit Agarwal, who retires by rotation, offers himself for reappointment as Managing Director.

National Fittings Limited has set September 9, 2026, as the record date for determining shareholder eligibility to vote at its 33rd Annual General Meeting (AGM) and receive the declared dividend. The company will enforce a book closure period from September 10, 2026, to September 16, 2026, during which no transfer of shares will be processed. This timeline ensures that only shareholders registered in the company’s books on the record date are entitled to participate in the upcoming AGM, scheduled for September 16, 2026. Shareholders must ensure their holdings are reflected in the register by the specified date to exercise voting rights or claim dividend proceeds.

The Board of Directors has mandated these dates to comply with regulatory requirements for general meetings and dividend distributions. The notice was issued on August 5, 2026, and submitted to the Bombay Stock Exchange Ltd’s Corporate Relationship Department. S. Aravinthan, Company Secretary, authorized the communication on behalf of the company.

Key Dates and Timelines

Shareholders should note the following critical dates regarding the 33rd AGM and dividend process:

E-Voting Process

To facilitate remote participation, the company will enable electronic voting for shareholders who are not able to attend the physical meeting. The e-voting window opens on September 13, 2026, at 09:00 AM and closes on September 15, 2026, at 05:00 PM. This two-day voting period allows eligible shareholders to cast their votes on all resolutions placed before the meeting prior to the AGM date.

What This Means for Investors

The announcement confirms the procedural framework for the 33rd AGM but does not disclose specific financial results or dividend amounts in this filing. Investors relying on the dividend declaration must hold shares until the record date of September 9, 2026. Any share transactions executed during the book closure period (September 10–16) will not affect voting rights or dividend entitlements for this cycle, as eligibility is frozen based on the September 9 register. The company’s headquarters in Kaniyur, Coimbatore, oversees these corporate governance processes.