Shivalik Bimetal shareholders pass all seven resolutions at 42nd AGM
- Shivalik Bimetal shareholders passed all seven resolutions at its 42nd AGM on September 2, 2026
- Kabir Ghumman reappointed as Managing Director; Walker Chandiok & Co. LLP appointed statutory auditor
- Total votes polled stood at 23,966,939, representing 41.61% of outstanding shares
- Promoter group voted in favor of all resolutions with 100% participation
*this image is generated using AI for illustrative purposes only.
Shivalik Bimetal Controls shareholders unanimously approved all seven resolutions at its 42nd Annual General Meeting held on September 2, 2026. The meeting, conducted via Video Conferencing and Other Audio Visual Means (OAVM), saw a total turnout of 90 members representing 67,490 shareholders on record as of August 26, 2026.
The company disclosed the final e-voting results and the scrutinizer's report issued by M/s Amit Saxena & Associates on September 3, 2026. All resolutions were passed with the requisite majority, confirming key governance changes and financial approvals for FY26.
Governance and Appointments
The shareholders reappointed Mr. Kabir Ghumman as Managing Director upon retirement by rotation. He holds a Bachelor’s degree in Mechanical Engineering and has been associated with the company for 16 years. He is the son of Chairman Mr. N.S. Ghumman and brother of Whole Time Director Mr. Sumer Ghumman.
M/s Walker Chandiok & Co. LLP was appointed to fill a casual vacancy effective August 7, 2026, and subsequently for a full term of 5 years, covering FY27 to FY31. The firm, established in 1935, is one of the largest audit firms in India with over 2,215 personnel. Additionally, the remuneration of Mr. Ramawatar Sunar, Cost Auditor, was ratified for FY27.
Board and Management Presence
The following directors and key personnel attended the meeting:
| Name | Designation |
|---|---|
| Mr. N. S. Ghumman | Chairman & Whole Time Director |
| Mr. Kabir Ghumman | Managing Director |
| Mr. Sumer Ghumman | Whole Time Director |
| Mr. N.P. Sahni | Independent Director |
| Dr. Shrikant Baldi | Independent Director |
| Mr. Sudhir Mehra | Independent Director |
| Mrs. Sukrita Goyal | Independent Women Director |
Ms. Aarti Sahni served as Company Secretary & Compliance Officer. The Chairman noted the demise of former Independent Director Mr. Swarnjit Singh during the opening remarks.
Financial Statements and Dividends
The auditors’ report on the standalone and consolidated financial statements for the fiscal year ended March 31, 2026, contained no qualifications, reservations, adverse remarks, or disclaimers. Consequently, the financial statements were taken as read by the shareholders.
The meeting also confirmed the payment of the interim dividend and declared the final dividend on equity shares for FY26. Specific dividend amounts were not disclosed in the immediate proceedings summary but were part of the ordinary business agenda.
Voting Process and Results
Shareholders exercised their voting rights through remote e-voting facilitated by NSDL from August 30, 2026, to September 1, 2026. M/s Amit Saxena & Associates acted as the scrutinizer for the e-voting process. As per regulatory guidelines, voting through a show of hands was not permitted, and proxies were not allowed for VC/OAVM meetings.
A total of 23,966,939 votes were polled across all resolutions, representing approximately 41.61% of the outstanding shares held by 57,604,200 equity shares. The promoter group, holding 19,362,441 shares, voted in favor of all resolutions with 100% participation. Public institutional investors polled 4,456,800 votes, while public non-institutional investors polled 147,698 votes.
Historical Stock Returns for Shivalik Bimetal Controls
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.49% | -7.75% | +1.64% | +174.95% | +113.28% | +482.73% |
How might the reappointment of Kabir Ghumman and the continued dominance of the Ghumman family in key executive roles impact the company's strategic agility and succession planning over the next decade?
Given the appointment of Walker Chandiok & Co. LLP for a five-year term, what specific audit focus areas or compliance enhancements can stakeholders expect during FY27-FY31?
With a 41.61% voting turnout and unanimous promoter support, how might this strong governance alignment influence future capital allocation decisions or potential M&A activities?
19
Create Custom Screeners 
Access 200+ Pre-built Filters 
Use 50+ Readymade Screener 
