Shalimar Wires Industries Limited shareholders approved the re-appointment of its top leadership for a three-year term during the 30th Annual General Meeting held on June 30, 2026. The meeting, conducted via video conferencing, saw 108 members participate, including authorized representatives of corporate bodies. The resolutions passed secure the continuity of the company's executive management and establish its cost audit framework for the upcoming financial year.

Board and Leadership Approvals

The Board's proposal to re-appoint Mr. Sunil Khaitan as Managing Director was approved. His tenure is set for three years effective from April 1, 2026. Additionally, shareholders sanctioned the re-appointment of Mr. Vedant Khaitan as Joint Managing Director for a three-year period starting June 1, 2026. Both appointments are subject to the terms and conditions regarding remuneration outlined in the explanatory statement, and their offices remain liable to determination by the retirement of directors by rotation.

Statutory Appointments

In matters concerning statutory compliance, the meeting approved the appointment of M/s. Mitra Bose & Associates, Cost Accountants, as the Cost Auditor for the financial year ending March 31, 2027. The firm, holding Registration No. 000037, was appointed by the Board of Directors. The total remuneration fixed for the audit of the company's cost records is ₹50,000 plus GST.

Financial and Operational Oversight

The adoption of the Audited Financial Statements for the financial year ended March 31, 2026, along with the Reports of the Board of Directors and Auditors, was approved as an ordinary resolution. The Chairman confirmed that the Auditors' and Secretarial Auditors' reports contained no qualifications, allowing them to be taken as read. Mr. Vedant Khaitan, who retires by rotation, was also re-appointed as a Director.

Shareholder Participation

The meeting facilitated remote e-voting from June 26 to June 29, 2026, and allowed e-voting during the AGM for eligible members. Mr. Mohan Ram Goenka, Practising Company Secretary, served as the Scrutinizer. A total of 25 shareholders registered to speak, with 16 raising questions regarding the company's operations, which were addressed by Mr. S.J. Sengupta, President & CFO.

Shalimar Wires Industries disclosed an off-market acquisition of shares by its promoter group, increasing their collective holding in the company. The transaction, which took place on June 25, 2026, involved the purchase of 29,091 equity shares. Following this acquisition, the promoter group's total stake rose to 65.71% of the company's equity share capital, which stands at 28,093,308 shares.

The disclosure was made under Regulation 29(1) and (2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The acquisition was executed through an off-market mechanism, as detailed in the filing submitted to the stock exchanges. The shares of Shalimar Wires Industries are listed on BSE Limited and The Calcutta Stock Exchange Limited.

Shareholding Details

The acquisition involved multiple individuals and entities within the promoter group. Mr. Sunil Kumar Khaitan acquired 28,981 shares, increasing his holding to 0.92%. Reliance Sheet Works Pvt. Ltd. purchased 3,990 shares, raising its stake to 16.97%. Conversely, Agro Chemicals and Fertilizers Ltd., a promoter group company, sold its entire shareholding of 3,990 shares to Reliance Sheet Works Pvt. Ltd.

Encumbrance Details

The filing also revealed details regarding shares pledged by the promoter group. A total of 12,399,000 shares are pledged with Kotak Mahindra Bank Ltd. This includes 200 shares held by Mr. Sunil Khaitan, 5,398,800 shares held by Amit Commercial Co. Ltd., and 7,000,000 shares held by Reliance Sheet Works Pvt. Ltd.