Shivalik Bimetal reappoints Kabir Ghumman, appoints Walker Chandiok
- Shivalik Bimetal Controls reappointed Kabir Ghumman as Managing Director upon retirement by rotation at its 42nd AGM.
- M/s Walker Chandiok & Co. LLP appointed as statutory auditor for a five-year term covering FY27 to FY31.
- Cost auditor Mr. Ramawatar Sunar's remuneration ratified for FY27; he brings over 43 years of experience.
- The company had 67,490 members on record as of August 26, 2026, with 90 attending the virtual meeting.
*this image is generated using AI for illustrative purposes only.
Shivalik Bimetal Controls held its 42nd Annual General Meeting on September 2, 2026. The company reappointed Managing Director Mr. Kabir Ghumman and approved the appointment of M/s Walker Chandiok & Co. LLP as its statutory auditor for a five-year term.
The meeting was conducted via Video Conferencing and Other Audio Visual Means (OAVM) in compliance with the Companies Act, 2013. A total of 67,490 members were on record as of August 26, 2026. Of these, 7 promoter group members and 83 public members attended the virtual session.
Governance and Appointments
The shareholders approved several key governance resolutions during the proceedings:
- Director Reappointment: Mr. Kabir Ghumman was reappointed 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.
- Statutory Auditor: 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.
- Cost Auditor: The remuneration of Mr. Ramawatar Sunar, Cost Auditor, was ratified for FY27. He has over 43 years of experience in cost accounting and indirect taxes.
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
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.
Historical Stock Returns for Shivalik Bimetal Controls
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.29% | +3.20% | +40.22% | +134.18% | +108.55% | +826.96% |
How might the reappointment of Kabir Ghumman and the continued leadership of the Ghumman family influence Shivalik Bimetal's strategic direction and succession planning over the next decade?
What specific operational or financial improvements are expected from appointing Walker Chandiok & Co. LLP as statutory auditor for a five-year term, particularly regarding compliance rigor for FY27-FY31?
Given the clean audit report for FY26, what key growth drivers or margin expansion strategies is management prioritizing to justify the declared final dividend in the upcoming fiscal year?
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