Salzer Electronics seeks nod for director re-appointment

Salzer Electronics Ltd has announced a postal ballot notice seeking shareholder approval for the re-appointment of two Independent Directors, Mrs. Priya Bhansali and Mr. Sharat Chandra Bhargava, for a second term of five years effective August 07, 2026. The Board of Directors, at its meeting on May 23, 2026, recommended the re-appointments subject to the consent of the shareholders. The resolutions require approval by way of a Special Resolution.

The remote e-voting facility, provided by National Securities Depository Limited (NSDL), will be available from 9:00 a.m. IST on Friday, June 19, 2026, until 5:00 p.m. IST on Saturday, July 18, 2026. The results of the postal ballot will be declared within 48 hours of the conclusion of the e-voting, specifically on or before 5:00 p.m. IST on Monday, July 20, 2026. Mr. G Vasudevan, Partner of M/s G.V. and Associates, has been appointed as the Scrutinizer to oversee the process.

Special Business

The notice outlines two items of special business concerning the re-appointment of the directors. Mrs. Priya Bhansali (DIN: 00195848), whose current term concludes on August 06, 2026, has been recommended for re-appointment for a period of five years commencing August 07, 2026. The Board cited her expertise in taxation compliance, GST, and internal audit functions as key reasons for the recommendation.

Mr. Sharat Chandra Bhargava (DIN: 00008146), also completing his term on August 06, 2026, is proposed for re-appointment for a five-year term starting August 07, 2026. As Mr. Bhargava has attained the age of 75 years, the company is seeking specific approval under Regulation 17(1A) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, to continue his directorship. The Board highlighted his extensive experience in electrical products and smart meters.

Director Details

The following table summarizes the details of the directors seeking re-appointment:

Details	Mrs. Priya Bhansali	Mr. Sharat Chandra Bhargava
Type	Independent Director	Independent Director
DIN	00195848	00008146
Age	60 years	76 years
Date of First Appointment	August 07, 2023	August 07, 2023
Proposed Term	5 years	5 years
Remuneration (FY 2025-26)	₹6,60,000	₹1,80,000
Board Meetings Attended (FY 2025-26)	5 out of 5	4 out of 5

Shareholders whose names appear in the Register of Members or Register of Beneficial Owners as on the Cut-off Date of Friday, June 12, 2026, are eligible to vote. The company has stated that the notice is being sent only through electronic mode in compliance with relevant Ministry of Corporate Affairs circulars. Physical copies of the postal ballot notice will not be dispatched.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.15%	+5.38%	-4.57%	-4.46%	-27.77%	+348.44%

Salzer Electronics Limited reported a 23.98% year-on-year increase in consolidated revenue to ₹1,758.38 crore for the fiscal year ended March 31, 2026, driven by robust demand for industrial switchgear and wires & cables. Profit After Tax (PAT) for FY26 stood at ₹53.77 crore, a growth of 2.49% compared to the previous year. For the fourth quarter, revenue increased by 26.19% to ₹474.14 crore, while PAT declined to ₹10.47 crore from ₹10.92 crore in the corresponding period of the previous year due to higher input costs and scaling expenses in new segments.

The board of directors recommended a dividend of ₹2.50 per equity share for FY26, subject to shareholder approval at the Annual General Meeting scheduled for September 12, 2026. The record date for dividend eligibility is August 28, 2026. Additionally, the board approved the re-appointment of Mrs. Priya Bhansali and Mr. Sharat Chandra Bhargava as Independent Directors and Mr. A. R. Ramasubramania Raja as Cost Auditor.

Financial Highlights

The company’s EBITDA for FY26 rose to ₹147.06 crore from ₹133.90 crore in FY25, though margins moderated to 8.36% from 9.44% due to raw material volatility. Management outlined a roadmap to restore EBITDA margins to approximately 10% by FY27 through price hikes initiated in February and March 2026, an improved mix of high-margin engineered products, and operating leverage.

Particulars (₹ in Cr)	Q4 FY26	Q4 FY25	YoY %	FY26	FY25	YoY %
Net Revenue	474.14	375.73	26.19%	1,758.38	1,418.33	23.98%
EBITDA (excl. other income)	31.26	29.15	7.25%	147.06	133.90	9.83%
EBITDA Margin	6.59%	7.76%	(117 bps)	8.36%	9.44%	(108 bps)
PAT	10.47	10.92	(4.14%)	53.77	52.46	2.49%
PAT Margin	2.21%	2.91%	(70 bps)	3.06%	3.70%	(64 bps)
Basic EPS (₹)	5.81	6.19	(6.14%)	29.94	35.30	-15.18%

Operational and Strategic Developments

Industrial Switchgear remained the primary growth driver, contributing 56.0% to total revenue, followed by Wire & Cable at 38.9% and Building Electrical products at 5.1%. Exports accounted for 21.06% of total revenue, with management targeting a restoration to above 25% supported by a tariff reset in the US and the commissioning of a local manufacturing plant in Saudi Arabia targeted for June 2026.

During the quarter, Salzer Electronics signed a Memorandum of Understanding with Wirepas, a Finland-based leader in wireless mesh technology, to integrate advanced metering solutions into its smart electricity meters. The company is also expanding its EV charging capabilities through a strategic stake in UltraFast Chargers and executing a ₹2,200 crore project with Bruhat Bengaluru Mahanagara Palike (BBMP) for energy management, expected to generate recurring revenue starting Q1 FY27.

Outlook and Guidance

Management provided a revenue guidance of ₹2,000 crore to ₹2,100 crore for FY27. The company expects EBITDA margins to stabilize between 9% and 9.5% for the full year, with margins anticipated to improve from Q2 FY27 following a price increase of 7% to 10% implemented in June 2026 to offset rising plastic costs. The subsidiary Kaycee Industries reported a 13% YoY revenue growth to ₹60 crore in FY26, with a PAT of ₹5 crore. The company targets an ROCE of 18% over the long term.