Quest Flow Controls Limited (formerly Meson Valves India Limited) held its 10th Annual General Meeting on September 25, 2026, approving the audited standalone and consolidated financial statements for the year ended March 31, 2026.

The meeting, conducted at the company’s registered office in Chakan, Pune, saw shareholders approve several key governance matters. The statutory auditors did not make any qualifications, observations, or comments in their audit report for FY26.

Key approvals

Shareholders approved the appointment of Lalit Varshney as a non-executive director liable to retire by rotation. Additionally, the meeting ratified the re-appointment of Brijesh Madhav Manerikar as Managing Director and Swaroop Raghu Vir Natekar as Whole Time Director.

A significant administrative change was also approved: the appointment of M/S Apra & Associates LLP as statutory auditors to fill the casual vacancy caused by the resignation of M/S Bilimoria Mehta & Co.

Governance and remuneration

The agenda included the approval of remuneration to directors exceeding the overall managerial remuneration limit under Section 197 of the Companies Act, 2013. The Chairman noted that remote e-voting facilities were provided via NSDL, with voting concluded on September 24, 2026.

The meeting concluded at 2:30 pm after the Chief Financial Officer proposed a vote of thanks to the Chair.

Quest Flow Controls Limited (formerly Meson Valves India Limited) reported a standalone profit after tax of ₹15.51 lakh for the fiscal year ended March 31, 2026, marking a significant decline from ₹627.60 lakh in the previous year.

The company will hold its 10th Annual General Meeting on September 25, 2026, to approve these financial results. Shareholders holding shares as of September 18, 2026, are eligible to vote via remote e-voting between September 22 and September 24, 2026.

Financial Performance Overview

Revenue from operations remained broadly stable at ₹5,857.57 lakh compared to ₹6,110.33 lakh in FY25. However, total expenses rose to ₹6,307.63 lakh from ₹5,365.52 lakh, driven by higher material costs and employee benefits.

On a consolidated basis, the company recorded a loss after tax of ₹428.23 lakh, reversing a profit of ₹679.51 lakh in FY25. This shift was primarily influenced by losses from associates and exceptional items.

What the Numbers Show

A divergence exists between the company's operational stability and its bottom-line performance. While revenue declined marginally by approximately 4%, expenses surged nearly 18%. The standalone profit before tax stood at ₹60.85 lakh after accounting for exceptional items of ₹259.08 lakh. In contrast, consolidated results were dragged down by a loss from associates of ₹344.43 lakh, highlighting the financial impact of recent international expansions.

Strategic Developments and Order Book

Management highlighted that bookings crossed ₹100 crore during FY26, with the order book standing in excess of this amount as of March 2026. Key wins included:

• Garden Reach Shipbuilders & Engineers Limited: ₹23.55 crore order for naval valves.
• BHEL Engineering Services Division: ₹19.89 crore order for remote-control valves.
• Mazagon Dock Shipbuilders Limited: Execution of submarine valve orders.

The company also entered cryogenic service with an order for Adani Dhamra LNG Terminal and established a US presence through a 45% acquisition of QFC LLC in Houston, Texas.

AGM Agenda Items

Shareholders will consider several ordinary and special resolutions:

• Auditor Appointment: M/s APRA & Associates LLP will be appointed as statutory auditors to fill the casual vacancy caused by the resignation of M/s Bilimoria Mehta & Co.
• Director Re-appointments: Re-appointment of Brijesh Madhav Manerikar as Managing Director and Swaroop Raghuvir Natekar as Whole-Time Director for three-year terms.
• Remuneration Approval: Approval for managerial remuneration exceeding limits prescribed under Section 197 of the Companies Act, 2013.
• Dividend: No dividend is recommended for FY26 to conserve resources for growth initiatives.