Simplex Castings Limited has announced a postal ballot to seek shareholder approval for the sub-division of its equity shares and the appointment of key personnel. The e-voting process is open from June 3, 2026, to July 2, 2026, allowing members to vote on four resolutions including a stock split and director appointments.

The Board of Directors has approved the sub-division of the existing 1 fully paid-up equity share of face value ₹10 into 5 fully paid-up equity shares of face value ₹2 each. This move aims to enhance liquidity and encourage wider shareholding participation. The authorized equity share capital will increase to 5,00,00,000 shares of ₹2 each, while the issued, subscribed, and paid-up capital will rise to 4,09,96,235 shares. Consequently, the company seeks approval to alter the capital clause of the Memorandum of Association to reflect this revised structure.

Director Appointments

The company proposes the appointment of Mr. Avinash Hariharno (DIN: 11689719) as a Whole-time Director designated as Executive Director (Finance) for a term of five years from May 28, 2026, to May 27, 2031. Mr. Hariharno, currently the Chief Financial Officer, brings over 26 years of experience in finance and corporate banking. His remuneration includes a basic salary of ₹1,00,000 per month along with perquisites and allowances as determined by the Board.

Additionally, the company seeks approval for the appointment of Mr. Palash Singhania (DIN: 06724674) as an Independent Director for a term of five years commencing May 28, 2026. Mr. Singhania, a Certified Financial Planner with over 11 years of experience in portfolio and asset management, has submitted the necessary declarations confirming his independence and eligibility.

Voting Details and Capital Structure

The remote e-voting facility, managed by Central Depository Services (India) Limited (CDSL), is available to shareholders whose names appear in the Register of Members or List of Beneficial Owners as of the cut-off date of May 22, 2026. The results of the postal ballot will be announced on or before July 4, 2026.

Ms. Meena Naidu, Practicing Company Secretary, has been appointed as the Scrutiniser to oversee the e-voting process. The notice and explanatory statement are available on the company's website.

Simplex Castings Limited reported a 40.5% rise in net profit to ₹2125.91 lakh for the financial year ended March 31, 2026, compared to ₹1513.11 lakh in the previous year. Revenue from operations for the year increased by 18.05% to ₹20,290.29 lakh from ₹17,188.36 lakh in FY25. The company strengthened its position in the railway sector by securing RDSO approval for key railway wagon bogie and cast steel components, positioning itself to benefit from rising investments in railway modernization and freight corridors.

The board approved the audited financial results for the quarter and year ended March 31, 2026. The audit report submitted by M/s Harsh Jain & Associates, Statutory Auditor, carried an unmodified opinion. The company reported an exceptional item of ₹85.90 lakh for the year, attributed to a loss on the sale of plant and machinery. For the quarter ended March 31, 2026, net profit stood at ₹618.30 lakh, while revenue from operations was ₹5,476.28 lakh.

Key Board Decisions

The board approved the sub-division of existing equity shares with a face value of ₹10 each into five equity shares of ₹2 each, subject to shareholder approval. The record date for the split will be determined post-approval. Consequently, the board approved the alteration of the capital clause of the Memorandum of Association to reflect the revised authorized share capital of ₹10,00,00,000 divided into 5,00,00,000 equity shares of ₹2 each.

Management Appointments

The board appointed Mr. Palash Singhania as an Additional Director designated as Non-Executive Independent Director for a term of five years effective May 28, 2026, subject to shareholder approval. Mr. Avinash Hariharno was appointed as an Additional Director and Whole Time Director for a term of five years, ceasing his role as Chief Financial Officer. Mr. Rajesh Kumar Acharya was appointed as the new Chief Financial Officer effective May 28, 2026. Additionally, M/s Sashi Ranjan & Co., Cost Accountants, were reappointed as Cost Auditor for FY 2026-27.

Strategic Outlook

The company is focusing on strengthening cash flows by empanelment on the Invoicemart (TReDS platform) to accelerate receivable realisation. Strategic growth drivers include launching a dedicated Railway Plant, expanding defence manufacturing capabilities, and evaluating inorganic acquisitions in allied casting segments. The company is also targeting the infrastructure casting boom to meet requirements for structural and machinery components.

Financial Performance

The board approved a postal ballot notice to seek shareholder consent for the special business, including the stock split and alteration of the capital clause. M/s Meena Naidu & Associates were appointed as the scrutinizer, and Central Depository Services (India) Limited was appointed as the e-voting agency.