Satani Bearings Limited has appointed M/s. Bhatt Shah Mekhia & Co., Chartered Accountants, as its statutory auditor effective June 19, 2026. The appointment fills the casual vacancy arising from the resignation of the previous auditor, M/s. P A M S & Associates, and will hold office until the conclusion of the ensuing General Meeting. The Board approved the appointment based on the recommendation of the Audit Committee.

The change in auditor follows the resignation of M/s. P A M S & Associates, effective June 19, 2026. The firm cited geographical constraints as the primary reason, noting that its Mumbai branch was closed in 2024 and operations are now based in Bhubaneswar. In its resignation letter, the firm stated that managing the audit of a listed entity from Bhubaneswar had become increasingly difficult due to compliance and reporting requirements. The firm confirmed there are no material reasons for resignation other than those stated and no unresolved issues or qualifications requiring attention.

Consequent to the resignation of Ms. Aakansha Vaid as a Non-Executive Independent Director, the Board reconstituted the Audit Committee and the Nomination & Remuneration Committee effective June 19, 2026. The reconstitution ensures the committees maintain the required composition and governance standards.

Audit Committee Composition

Nomination & Remuneration Committee Composition

The disclosures regarding the appointment and resignation of the statutory auditors were made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Satani Bearings Limited returned to profitability in FY26, reporting a net profit of ₹5.12 lakh compared to a net loss of ₹16.36 lakh in the previous year. The company recorded revenue from operations of ₹3,544.47 lakh for the year ended March 31, 2026. The audited standalone financial results were approved by the Board of Directors at a meeting held on May 30, 2026, and subsequently published in a newspaper on June 02, 2026, pursuant to Regulation 47 of the SEBI (LODR) Regulations, 2015.

For the quarter ended March 31, 2026, the company posted a net profit of ₹20.59 lakh on revenue from operations of ₹1,642.83 lakh. Total revenue for the quarter stood at ₹1,643.91 lakh, while total expenses were ₹1,619.33 lakh. The profit before tax for the quarter was ₹24.59 lakh, with a tax expense of ₹4.00 lakh. The financial statements were audited by statutory auditors Pams & Associates, Chartered Accountants, who confirmed an unmodified opinion on the standalone financial results. The report noted that the company entered into sales transactions primarily with related parties during the financial year.

Financial Performance Summary

The company's paid-up equity share capital remained at ₹2,000.00 lakh as of March 31, 2026. The earnings per share (EPS) for the year improved to ₹0.03 from a negative ₹0.75 in the prior year. The board meeting commenced at 07:30 PM and concluded at 08:00 PM on May 30, 2026.