SKP Bearing Industries Limited has scheduled an Extraordinary General Meeting (EGM) on June 30, 2026, to seek shareholder approval for the appointment of Mr. Gautam Ganguli as an Independent Director. The meeting will be held through Video Conferencing and Other Audio-Visual Means (VC/OAVM) at 4:00 p.m. IST. The resolution also seeks approval for Mr. Ganguli’s continuation in office after he attains the age of 75 years, ensuring his tenure extends until March 31, 2031.

Mr. Gautam Ganguli was initially appointed as an Additional Director in the category of Non-Executive Independent Director effective April 1, 2026. Under Section 161(1) of the Companies Act, 2013, his tenure as an Additional Director is valid up to the date of this EGM. The company has received the necessary consents and declarations from Mr. Ganguli, including confirmation of his independence and that he is not disqualified from being appointed as a director.

The Board of Directors recommends the appointment, citing Mr. Ganguli's qualifications and extensive experience in finance and compliance. He is a qualified Chartered Accountant and Company Secretary with nearly five decades of experience, having previously served as the Company Secretary of Kesoram Industries Limited. He currently serves as the Chairman of the Audit Committee, Nomination and Remuneration Committee, and Stakeholders' Relationship Committee.

In accordance with Regulation 17(1A) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a special resolution is required to appoint or continue a non-executive director who has attained the age of 75 years. Mr. Ganguli is currently 73 years old and will turn 75 during the proposed term. Consequently, the EGM will vote on a special resolution to approve both his appointment and his tenure extension.

EGM and Voting Schedule

The company has established the following timeline for the EGM and e-voting process:

Bigshare Services Private Limited has been appointed as the e-voting agency. CS Mansi Chokshi of M.K Chokshi & Associates will act as the Scrutiniser for the meeting. The results of the voting will be declared within two working days of the conclusion of the EGM.

SKP Bearing Industries reported a 15.2% increase in net profit for the year ended March 31, 2026, rising to ₹150.06 crore from ₹130.26 crore in the previous year, driven by a significant rise in revenue. Revenue from operations for the year grew 53.4% to ₹807.01 crore compared to ₹526.01 crore in FY25. The company's board approved the audited financial results at a meeting held on May 28, 2026.

The company submitted revised audited financial results for the half year and year ended March 31, 2026, to the National Stock Exchange of India. The submission was made to correct a typographical error identified in the cash flow statement. Management clarified that the error was purely clerical and did not impact the overall financial position, profitability, or any other financial parameters of the company.

In accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company submitted the link to the audio recording of its post-earnings conference call held on May 29, 2026. The call was conducted to discuss the audited financial results for the quarter and financial year ended March 31, 2026. The recording is available on the company's website and via the provided link for investors and stakeholders.

For the quarter ended March 31, 2026, the company reported a net profit of ₹35.86 crore, a decrease from ₹43.18 crore in the quarter ended December 31, 2025. Revenue from operations for the quarter stood at ₹307.83 crore. Total assets as of March 31, 2026, increased to ₹1,287.25 crore from ₹997.97 crore in the previous year.

Consolidated Performance

On a consolidated basis, the group reported a net profit of ₹8.76 crore for the year ended March 31, 2026, a sharp decline from ₹29.74 crore in the previous year. Total consolidated income rose to ₹1,071.06 crore from ₹710.35 crore. The statutory auditors, Dipak P Shah & Co, issued a qualified opinion on the consolidated results due to the inability to audit the financial statements of the subsidiary, SKP Bearing Industries Limited - France, whose audit was pending. The subsidiary's management-certified financial statements reflected a net loss after tax of ₹137.94 crore for the year.

Financial Metrics