Shalimar Wires Industries shareholders overwhelmingly approved the appointment of Sanjay Kumar Kaushik as a Non-Executive Director. The resolution passed with near-unanimous support during the Extra-Ordinary General Meeting (EGM) held on August 25, 2026.

The company disclosed the consolidated voting results on August 26, 2026, confirming that the special resolution received 99.9997% assent. A total of 123 members cast their votes, representing 27,672,950 shares. Only 15 members dissented, holding just 72 shares, which accounted for 0.0003% of the total votes cast.

Voting Breakdown

The e-voting facility was open for remote voting from August 21 to August 24, 2026. Members holding equity shares as on the cut-off date of August 18, 2026, were eligible to vote. The National Securities Depository Limited (NSDL) provided the e-voting platform.

Of the total votes, 122 members voted via remote e-voting before the meeting, while one member voted during the EGM session. The high level of assent indicates strong shareholder confidence in the board’s decision to appoint Mr. Kaushik.

Meeting Details

The EGM commenced at 11:30 am and concluded at 11:58 am via Video Conferencing/other Audio-Visual Means (VC/OAVM). Mr. Sunil Khaitan, Chairman of the Company, presided over the proceedings. A total of 78 members, including six authorized representatives of Bodies Corporate, were present at the virtual meeting.

Key Attendees

The following directors and officials participated in the meeting:

• Vedant Khaitan, Joint Managing Director
• Parmanand Tiwari, Director
• Dr. Rajiva, Director
• Mrs. Trishna Guha, Director
• Sanjay Kumar Kaushik, Director

Mr. S.K. Kejriwal, Company Secretary, provided instructions regarding participation and voting procedures. Mr. Mohan Ram Goenka served as the Scrutinizer for votes cast through remote e-voting and during the EGM.

Shareholder Engagement

Nine shareholders registered as speakers during the session. Five of them raised questions concerning the appointment of Mr. Kaushik, which were addressed by the Company Secretary.

The voting results, along with the consolidated Scrutinizer's Report, have been communicated to the exchanges and published on the company’s website and the NSDL portal.

Shalimar Wires Industries reported a net profit of ₹219.75 lacs for the quarter ended June 30, 2026, marking a 117% year-on-year increase from ₹101.35 lacs in Q1FY25. The company’s revenue from operations grew 14% to ₹3,739.46 lacs, driven primarily by a rise in product sales to ₹3,738.92 lacs from ₹3,281.34 lacs in the prior year period. This performance underscores improved operational efficiency and top-line growth in the wires industry segment.

The Board of Directors approved the unaudited standalone financial results at a meeting held on August 11, 2026, in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were reviewed by the statutory auditors, Khandelwal Ray & Co., who issued a limited review report confirming that the statements are free of material misstatement. The meeting commenced at 12:30 PM and concluded at 1:21 PM.

Financial Performance Highlights

Revenue from operations increased to ₹3,739.46 lacs from ₹3,283.97 lacs in the corresponding quarter of the previous year. Other income declined slightly to ₹43.88 lacs from ₹52.08 lacs. Total expenses rose to ₹3,563.59 lacs from ₹3,234.70 lacs, with cost of materials consumed increasing significantly to ₹1,319.24 lacs from ₹971.51 lacs. However, changes in inventories provided a credit of ₹375.64 lacs, compared to ₹60.81 lacs in Q1FY25, aiding margin expansion.

What the Numbers Show

The disproportionate rise in net profit relative to revenue growth indicates significant operating leverage. While revenue grew by approximately 14%, net profit more than doubled. This divergence was largely aided by inventory adjustments; the change in inventories of finished goods and work-in-progress contributed a credit of ₹375.64 lacs in Q1FY26, up sharply from ₹60.81 lacs in Q1FY25. Additionally, finance costs increased to ₹384.00 lacs from ₹339.00 lacs, reflecting higher borrowing costs or increased debt levels, yet the bottom line remained robust due to the inventory benefit and controlled employee benefit expenses at ₹766.22 lacs.

Balance Sheet and Shareholding

Promoter and promoter group shareholding stood at 2,80,93,308 shares, representing 64.45% of the total share capital. Of these, 1,26,50,481 shares (45.03% of promoter holding) were pledged/encumbered. Public shareholding remained unchanged at 34.36%. The company’s paid-up equity share capital remained constant at ₹855.10 lacs.

Contingent Liabilities and Notes

No provision has been made for contingent liabilities, which include claims against the company not acknowledged as debts amounting to ₹77.28 lacs, demands of the Income Tax Authority under appeals of ₹524.27 lacs, and demands of various government authorities (Sales Tax, GST, Excise) under appeals totaling ₹811.20 lacs. Deferred tax assets/liabilities have not been considered in the accounts. Actuarial valuations under Ind AS 19 and fair valuation gains/losses on investments will be considered during the finalization of audited accounts for the year ended March 31, 2027.