Shayona Engineering raises borrowing limit to ₹50 crore, appoints auditors
- Borrowing authority enhanced from ₹20 crore to ₹50 crore
- Loans and investments ceiling set at ₹50 crore under Section 186
- M/s. O. P. Rathi & Co. appointed as new statutory auditors
- 10th AGM scheduled for September 25, 2026
*this image is generated using AI for illustrative purposes only.
Shayona Engineering Limited’s Board of Directors approved an increase in borrowing authority from ₹20 crore to ₹50 crore during its meeting on August 27, 2026. The company also appointed M/s. O. P. Rathi & Co. as its new statutory auditors following the resignation of the previous firm.
The board recommended these changes for shareholder approval at the upcoming Annual General Meeting (AGM). Key decisions included enhancing borrowing limits under Section 180(1)(c) and creating mortgage or charge security for borrowings up to ₹50 crore under Section 180(1)(a). Additionally, the board approved loans, guarantees, securities, and investments up to an aggregate ceiling of ₹50 crore under Section 186.
Auditor Appointment and Governance
The board noted the resignation of M/s. SGPS & Associates, Chartered Accountants, effective August 24, 2026. Based on the Audit Committee’s recommendation, M/s. O. P. Rathi & Co., Chartered Accountants, was appointed as Statutory Auditor with effect from August 27, 2026, to fill the casual vacancy. This appointment is subject to members' approval under Section 139(8) and holds office until the conclusion of the 10th AGM. The board also recommended their regular appointment for five consecutive years, covering FY27 to FY31.
Regarding director appointments, the Nomination and Remuneration Committee recommended the re-appointment of Mr. Gaurav Ratukumar Parekh, who is retiring by rotation and eligible for re-election. This requires approval from members at the 10th AGM.
AGM Details and Financial Reports
The board approved the Management Discussion and Analysis Report, Board’s Report, and the Annual Report for the financial year ended March 31, 2026. The 10th AGM is scheduled for Friday, September 25, 2026, at 10:00 am.
Remote e-voting will commence on Monday, September 21, 2026, at 9:00 am and conclude on Thursday, September 24, 2026, at 5:00 pm. NSDL has been engaged as the e-voting agency, while M/s. M. Buha & Co., Practising Company Secretaries, was appointed as Scrutinizer for a remuneration of ₹15,000 plus applicable taxes.
Historical Stock Returns for Shayona Engineering
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +6.51% | +8.38% | +6.90% | +7.42% | 0.0% | 0.0% |
What specific strategic initiatives or expansion projects is Shayona Engineering planning to fund with the increased ₹50 crore borrowing authority?
How might the change in statutory auditors from SGPS & Associates to O. P. Rathi & Co. impact investor confidence or future audit findings?
Will the company's debt-to-equity ratio remain within regulatory comfort zones after utilizing the new borrowing limits under Section 180(1)(c)?
17
Access 50+ Readymade Screeners 
Use 200+ Custom Filters 
Get Full Market Insights 
