Presstonic Engineering Limited has appointed M/s. Paramkusum and Associates, Chartered Accountants, as its internal auditor for the financial year 2026-27. The Board of Directors approved the appointment at its meeting held on May 26, 2026. The firm, based in Bangalore, specializes in auditing, taxation, and management consultancy services with over three decades of experience.

Additionally, the Board approved a notice of postal ballot to seek shareholder consent for the re-appointment of Herga Poornachandra Kedilaya as Managing Director and Yermal Giridhar Rao as Joint Managing Director. The re-appointments are proposed for a five-year term commencing July 3, 2026, along with the approval of their remuneration. The company disclosed that current profits are insufficient to cover managerial remuneration within standard limits due to increased input costs and deferred deliveries, though it anticipates growth based on a confirmed order book of ₹150 crores.

Internal Auditor Details

Re-appointment and Remuneration Terms

The Board has proposed specific remuneration packages for both directors, subject to shareholder approval. The salary for FY 2026-27 is proposed at up to ₹36,00,000 per annum. For the financial years 2027-28 to 2028-29, the Board will determine the actual remuneration within an overall limit of up to ₹72,00,000 per annum, in accordance with Schedule V of the Companies Act, 2013. Additionally, both directors are entitled to perquisites including the free use of a company car with driver for business purposes. Neither director will receive sitting fees for attending Board or committee meetings.

Director Profiles and Financial Performance

Herga Poornachandra Kedilaya, aged 55, holds a Bachelor in Engineering and brings 29 years of industrial leadership experience. Yermal Giridhar Rao, aged 56, holds a Master of Technology and possesses 30 years of experience, particularly in the metro rail sector. Both directors were originally appointed on March 23, 2021, and re-designated to their current roles effective July 3, 2023. They attended 8 Board meetings during FY 2025-26 and hold 33,52,340 equity shares each in the company.

The company reported a total revenue of ₹4,080.31 lakh and a Profit After Tax of ₹259.74 lakh for FY 2025-26, compared to ₹2,144.07 lakh revenue and ₹86.40 lakh profit in the previous year. The Board noted that despite the current profit levels being inadequate for the prescribed remuneration limits, the strong order pipeline and strategic investments in advanced plant machinery are expected to drive future productivity and profitability.

Presstonic Engineering Limited has announced its audited financial results for the year and half-year ended March 31, 2026. The company reported a significant rise in profitability, with a net profit of ₹259.74 lakh for the financial year 2025-26, up from ₹86.40 lakh in the previous year. Revenue from operations for the full year increased to ₹4,050.26 lakh from ₹2,103.74 lakh in the prior year.

Financial Performance

The total income for the year ended March 31, 2026, stood at ₹4,080.31 lakh, compared to ₹2,144.07 lakh in the previous year. For the half-year ended March 31, 2026, the company reported a net profit of ₹226.77 lakh on a total income of ₹2,046.10 lakh. The basic and diluted earnings per share (EPS) for the year were recorded at ₹3.17, compared to ₹1.12 in the previous year.

The Board of Directors, in its meeting held on May 19, 2026, approved the audited financial results along with the audit report. The statutory auditors, M/s GRSM & Associates, issued an unmodified opinion on the audited financial results.

Key Financial Metrics

The following table summarizes the standalone financial performance for the year and half-year ended March 31, 2026:

Board Appointments

During the meeting, the Board approved the re-appointment of Mr. Herga Poornachandra Kedilaya as Managing Director and Mr. Yermal Giridhar Rao as Joint Managing Director. Additionally, Mr. Nagendra Dattathreya Rao was re-appointed as the Chairman of the Board.

Rights Issue Utilisation

The company had successfully concluded a rights issue in March 2026, raising proceeds of ₹2,636.76 lakh. As of March 31, 2026, the company utilised ₹2,572.58 lakh of the proceeds. The funds were primarily allocated towards prepayment of borrowings, working capital requirements, and general corporate expenses.