Siyaram Recycling Industries Limited has scheduled its 20th Annual General Meeting for September 30, 2026. The meeting will convene at the company's registered office in Jamnagar to transact business as outlined in the notice dated August 24, 2026.

Meeting Details

The AGM is set to begin at 2:00 pm at Plot No. 6 & 7, Village Lakhabaval, Post Khodiyar Colony, Jamnagar, Gujarat. The company dispatched the notice and explanatory statement electronically on September 2, 2026, to members who registered their email addresses with the company or depositories as of the cutoff date of August 28, 2026.

E-Voting Information

Shareholders can cast their votes via remote e-voting through the National Securities Depository Limited platform. The voting window opens on September 27, 2026, at 9:00 am and closes on September 29, 2026, at 5:00 pm. The cutoff date for determining eligibility to vote and attend the AGM is September 23, 2026.

Members who have not registered email addresses will receive letters containing web links to access the annual report and AGM notice, in compliance with SEBI Listing Obligations and Disclosure Requirements Regulations. Those who vote remotely may attend the meeting but cannot vote again. Members attending without prior remote voting can use ballot papers.

Regulatory Compliance

The dispatch of notices adheres to General Circular No. 14/2020 and General Circular No. 03/2025 issued by the Ministry of Corporate Affairs, alongside SEBI Circular No. SEBI/HO/CFD/CFD-PoD-2/P/CIR/2024/133. The complete annual report for the financial year ended March 31, 2026, is available on the company website and stock exchange portals.

Siyaram Recycling Industries Ltd reported a significant decline in profitability for FY26, with net profit falling 74% year-on-year to ₹3.79 crore. Revenue from operations contracted 29% to ₹3,616.9 crore, reflecting broader volatility in the scrap recycling market.

The Jamnagar-based brass recycler also announced the reappointment of Ramgopal Ochhavlal Maheshwari as Chairman and Whole-Time Director, and Bhavesh Ramgopal Maheshwari as Managing Director for five-year terms effective August 2026. Both executives will receive remuneration of up to ₹1.2 crore per annum.

Financial Performance

The company's financial results for the year ended March 31, 2026, highlight a sharp contraction in earnings despite disciplined cost management. Total income stood at ₹3,626.9 crore, down from ₹5,137.9 crore in the previous year. Expenses were moderated to ₹3,569.1 crore from ₹4,933.7 crore, but this was insufficient to offset the top-line decline.

Other income dropped 55% to ₹10.0 crore from ₹22.3 crore in FY25. Tax expenses totaled ₹19.8 crore, comprising current tax of ₹15.4 crore and deferred tax of ₹4.4 crore.

What the Numbers Show

A notable divergence exists between the company's revenue decline and its inventory buildup. While revenue fell nearly 30%, closing inventories rose 2% to ₹2,038.5 crore from ₹2,006.7 crore. This suggests that cost of materials consumed (₹3,416.3 crore) did not decrease proportionately to sales, potentially indicating slower stock turnover or strategic stocking ahead of anticipated price movements. Additionally, finance costs increased 38% to ₹106.2 crore, driven by higher borrowing levels to support working capital needs.

Corporate Governance and Board Changes

The company convened its 20th Annual General Meeting on September 30, 2026. Key resolutions included the reappointment of Mrs. Madhu Ramgopal Maheshwari as a director liable to retire by rotation.

The Board also approved the remuneration of M/s Ankit Kushal & Associates as Cost Auditor for FY27 at ₹60,000. Subsequent to the fiscal year-end, the authorized share capital was proposed to be increased from ₹25 crore to ₹45 crore via postal ballot.

Operational Outlook

Management attributed the performance variance to global commodity price volatility and elevated energy tariffs. The company emphasized its focus on modernizing plant machinery and expanding high-demand product lines to stabilize margins. No dividend was recommended for FY26 to conserve internal accruals for working capital requirements.