Shivalik Bimetal Controls Limited has convened its 42nd Annual General Meeting (AGM) for September 2, 2026, to address critical governance changes including the appointment of a new statutory auditor and an alteration to its Articles of Association. The meeting follows the resignation of M/s. Arora Gupta & Co. Chartered Accountants due to professional commitments and resource constraints. Shareholders are asked to approve the appointment of M/s. Walker Chandiok & Co LLP as statutory auditors to fill the casual vacancy effective August 7, 2026, and subsequently for a five-year term until the conclusion of the 47th AGM. Additionally, the Board seeks approval to amend the Articles of Association to enable the issuance of various marketable securities, including warrants and convertible instruments, providing greater flexibility for future capital raising initiatives.

Governance and Auditor Transition

The transition in statutory audit oversight is a key agenda item for the upcoming AGM. M/s. Arora Gupta & Co. Chartered Accountants (FR No. 021313C) resigned with effect from August 6, 2026, citing practical difficulties in deploying adequate audit resources commensurate with the company's expanded audit requirements. Their last limited review report was submitted on August 6, 2026, covering the quarter ended June 30, 2026.

To fill this casual vacancy, the Board appointed M/s. Walker Chandiok & Co LLP (FRN: 001076N/N500013) effective August 7, 2026. This firm, established in 1935 and converted to an LLP in 2014, is one of India’s largest audit firms with over 2,215 personnel across 16 cities. The proposed remuneration for Walker Chandiok & Co LLP is ₹60 lakh per annum plus applicable taxes and out-of-pocket expenses. The Board noted no material change in fees compared to the outgoing auditor. Shareholders must approve this appointment via an Ordinary Resolution at the AGM, as required under Section 139(8) of the Companies Act, 2013.

Alteration of Articles of Association

The second major resolution involves amending the Articles of Association (AoA) to broaden the company’s capital raising capabilities. Currently, the AoA primarily addresses equity share issuance. The proposed amendments, subject to shareholder approval via Special Resolution, will explicitly permit the issuance of:

• Equity shares with differential voting or dividend rights.
• Preference share capital.
• Convertible securities (fully or partly convertible).
• Warrants convertible into equity shares.
• Non-convertible securities.

Management clarified that these changes are enabling in nature and do not authorize any immediate issuance of securities. Any future issuance will remain subject to SEBI regulations, the Companies Act, 2013, and further shareholder approvals. This structural update positions Shivalik Bimetal Controls to access diverse funding instruments without requiring repeated AoA amendments.

Director Re-appointment and Cost Auditor Ratification

Mr. Kabir Ghuman (DIN: 01294801), Managing Director, retires by rotation and offers himself for re-appointment. Mr. Ghuman, who joined the Board on August 29, 2024, holds a Bachelor’s degree in Mechanical Engineering and has over 16 years of experience with the company. His remuneration remains unchanged at ₹2 crore annually. He currently holds 2,183,250 shares in the company.

Additionally, shareholders are asked to ratify the remuneration of Mr. Ramawatar Sunar (FRN: 100691), Cost Auditor, for the financial year 2026-27. The approved remuneration is ₹1.75 lakh per annum plus taxes and expenses, as recommended by the Audit Committee.

Financial Context and Dividend Details

These governance updates follow a strong financial performance in FY26, where consolidated revenue grew 12.3% year-on-year to ₹570.9 crore, and profit after tax rose 24.8% to ₹95.8 crore. The Board had previously declared an interim dividend of ₹2 per equity share, paid on February 27, 2026. A final dividend of ₹2 per equity share is proposed for FY26, subject to AGM approval. The total dividend payout for FY26 stands at ₹4 per share, amounting to ₹23.04 crore. The record date for determining entitlement to the final dividend is fixed as August 26, 2026. The Register of Members and Share Transfer Books will remain closed from August 27, 2026, to September 2, 2026.

AGM Logistics and Voting

The 42nd AGM will be held via Video Conferencing/Other Audio-Visual Means (VC/OAVM) on September 2, 2026, at 10:30 a.m. IST. Remote e-voting will commence on August 30, 2026, at 9:00 a.m. IST and conclude on September 1, 2026, at 5:00 p.m. IST. M/s. Amit Saxena & Associates has been appointed as the scrutinizer for the voting process. Institutional investors and members holding more than 2% of shares are exempt from the first-come-first-served attendance restriction.

Shivalik Bimetal Controls Limited has made the audio recording of its earnings conference call for the quarter ended June 30, 2026 (Q1FY27), available to investors. The call, held on August 07, 2026, discussed the company’s consolidated net profit surge of 44.9% to ₹33.01 crore and a 33.4% rise in revenue from operations to ₹182.20 crore. This disclosure ensures transparency and allows stakeholders to review management’s commentary on the strong export-driven performance and governance changes approved by the Board on August 06, 2026.

The filing was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Shivalik Bimetal Controls Limited submitted the notice to both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India Ltd. (NSE) on August 07, 2026. The Company Secretary, Aarti Sahni, certified the submission, confirming that the recording is accessible via the company’s official website.

Earnings Call Details

The audio recording covers the unaudited financial results for Q1FY27. Key topics addressed during the call likely include the robust demand in export markets, which contributed 54% of total revenue, and the recovery in the Americas shunt segment. Management also discussed the appointment of M/s. Walker Chandiok & Co LLP as the new Statutory Auditor, effective August 07, 2026, following the resignation of M/s. Arora Gupta & Co. Chartered Accountants due to resource constraints.

Governance and Financial Context

During the Board meeting preceding the call, the company also addressed significant leadership changes. Mr. Kabir Ghumman, Managing Director, offered himself for re-appointment, while Mr. Rajeev Ranjan, Chief Financial Officer, resigned effective October 31, 2026. The Board declared a final dividend for FY26, with August 26, 2026, fixed as the record date.

Financially, the company reported a consolidated EBITDA of ₹43.22 crore, up 35.3% year-on-year. Earnings per share increased to ₹5.73 from ₹3.96 in the corresponding quarter of the previous year. The divergence between standalone revenue growth of 13.0% and consolidated growth of 33.4% highlights the increasing contribution of group entities to the top line.

What the Numbers Show

The availability of the earnings call recording provides investors with direct access to management’s strategic outlook. The significant gap between standalone and consolidated performance suggests that subsidiaries are playing a larger role in driving growth, particularly in high-margin export segments. With a net cash position of ₹105 crore against ₹59 crore debt, the company maintains financial resilience to support its transition into higher value-added components, such as PCBA assemblies and busbar connectors.

Forward-Looking Events

Shareholders are advised to note the record date of August 26, 2026, for dividend eligibility. The 42nd Annual General Meeting is scheduled for September 02, 2026. Additionally, the company has received Consent to Operate from the Maharashtra Pollution Control Board for Phase I of its Pune manufacturing facility, valid until June 30, 2032.