Ranjeet Mechatronics Limited has submitted voting results for its 33rd Annual General Meeting held on September 25, 2026, confirming all three resolutions passed unanimously with 100% votes in favour.

The AGM was held at the registered office in Prahlad Nagar, Ahmedabad, commencing at 12:00 pm and concluding at 12:30 pm. A total of 269 shareholders were on record as of the cut-off date of September 18, 2026. Of these, 9 promoter and promoter group members and 5 public shareholders attended in person or through proxy, while no shareholders participated via video conferencing. The scrutinizer's report was submitted by Abhishek Chhajed, Partner, SCS and Co. LLP, Company Secretaries (Membership No. FCS 11334 / C.P No. 15131), pursuant to Section 108 of the Companies Act, 2013 and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

AGM attendance and voting overview

The remote e-voting period ran from September 22, 2026 at 9:00 am to September 24, 2026 at 5:00 pm. Votes were unblocked on September 25, 2026 at around 12:30 pm in the presence of two witnesses. Across all three resolutions, total votes polled stood at 27,249,600 out of 40,000,000 total shares, representing a participation rate of 68.12%. All polled votes were cast in favour, with zero votes against and no invalid or abstained votes recorded.

Resolutions passed

All three ordinary resolutions were transacted and passed. The following table summarises each resolution and its outcome.

Voting breakdown by category

The promoter and promoter group held 27,241,600 shares and cast all their votes via remote e-voting in favour of each resolution, representing 100.00% participation within the category. Public non-institutional shareholders held 12,758,400 shares and polled 8,000 votes via remote e-voting, representing 0.06% participation within the category, all cast in favour. No institutional public shareholders participated in voting.

Compliance and filing

The voting results and consolidated scrutinizer's report were submitted to BSE Limited on September 26, 2026, pursuant to Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was signed by Devarshibhai Rakeshbhai Swadia in his capacity as Whole Time Director. All voting records and related papers are to remain in the custody of the scrutinizer until the Chairman approves and signs the AGM minutes, after which they will be handed over to the Company Secretary for safekeeping.

Ranjeet Mechatronics reported a significant expansion in top-line growth for FY26, with revenue from operations jumping 170% year-on-year to ₹2,914.4 lakh. Despite the robust revenue surge, profitability contracted sharply as operating expenses and credit impairments outpaced income gains.

The company’s net profit after tax (PAT) declined 65% to ₹33.17 lakh, down from ₹95.01 lakh in FY25. This divergence between revenue and profit highlights margin pressure during a period of rapid scaling. The Board of Directors has convened its 33rd Annual General Meeting for September 25, 2026, to adopt these audited financial statements.

Financial Performance

Revenue from operations more than doubled, reflecting increased activity in fire protection systems and pipe fabrication services. However, total expenses rose disproportionately, impacting the bottom line.

Finance costs decreased slightly to ₹105.4 lakh from ₹131.6 lakh in the prior year. However, other expenses surged to ₹132.9 lakh from ₹65.5 lakh, primarily driven by a ₹27.3 lakh provision for expected credit losses. Employee benefits also nearly tripled to ₹162.0 lakh, indicating workforce expansion to support operational scale.

What the Numbers Show

The most critical signal in the filing is the emergence of credit risk. For the first time in the disclosed period, Ranjeet Mechatronics booked a ₹27.3 lakh provision for bad debts under expected credit losses. This single line item accounted for approximately 82% of the reported net profit of ₹33.2 lakh. Without this provision, the underlying operational profit would have been significantly higher, suggesting that the decline in PAT is largely attributable to asset quality concerns rather than core operational inefficiency.

Balance Sheet and Working Capital

Trade receivables surged 90% to ₹1,321.8 lakh, far outpacing the 170% revenue growth in absolute terms but signaling potential collection delays or extended credit terms to fuel sales. The increase in receivables absorbed ₹626.5 lakh in cash flow from operations, contributing to a negative cash flow from investing activities of ₹7.2 lakh.

Short-term borrowings increased to ₹526.0 lakh from ₹481.5 lakh, while inventory levels stood at ₹1,386.3 lakh. The company holds minimal cash and cash equivalents of ₹5.6 lakh at year-end, highlighting tight liquidity management amidst high working capital requirements.

Corporate Governance Updates

The AGM will seek approval for the re-appointment of Whole-Time Director Devarshibhai Rakeshbhai Swadia, who retires by rotation. Additionally, shareholders will vote on appointing M/s. SCS & Co. LLP as the Secretarial Auditor for FY27. The statutory auditor, M/s. Abhishek Kumar & Associates, issued an unqualified opinion on the financial statements.