Smiths & Founders (India) Ltd has executed a merger agreement with SKF Elixer India Private Limited to drive growth and diversification within the engineering and capital goods sector. The agreement, signed on June 17, 2026, outlines the proposed amalgamation of SKF Elixer India, acting as the Transferor Company, with Smiths & Founders (India) Ltd, designated as the Transferee Company. The strategic move aims to consolidate operations and expand the business footprint of the combined entity.

The transaction does not constitute a related party transaction and was conducted at arm’s length. According to the regulatory filing, there is no cash consideration involved in the merger, and the share exchange ratio was not applicable. Furthermore, the merger will not result in any change to the shareholding pattern of the listed entity, Smiths & Founders (India) Ltd.

Financial disclosures provided in the filing highlight the scale of the entities involved. SKF Elixer India Private Limited reported a turnover of ₹235.45 Crores and a paid-up capital of ₹15,45,41,666. In comparison, Smiths & Founders (India) Ltd recorded a turnover of ₹13.98 Crores with a paid-up capital of ₹10,19,96,525.

The rationale behind the amalgamation is centered on growth and diversification. By combining resources, the companies intend to strengthen their market position in the engineering and capital goods sector. The merger is subject to necessary regulatory approvals and other statutory compliances.

The intimation was submitted to BSE Limited pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Roopashree Shettigar, Company Secretary of Smiths & Founders (India) Ltd, authenticated the disclosure.

Financial Overview of Entities

Smiths & Founders (India) Limited has approved a proposal to explore and undertake a merger with SKF Elixer India Private Limited. The Board of Directors met on June 10, 2026, at the registered office to consider the strategic combination, which aims to consolidate operations through a Scheme of Merger. The decision is subject to the completion of due diligence, valuation, and finalization of the merger scheme.

The transaction requires multiple statutory approvals before implementation. Smiths & Founders must secure consent from its shareholders and creditors, as well as clearances from stock exchanges and relevant regulatory authorities. The final approval will need to be obtained from the Hon'ble National Company Law Tribunal (NCLT).

To facilitate the merger process, the Board authorized the appointment of various professional intermediaries. This includes engaging legal advisors, valuers, merchant bankers, chartered accountants, and other consultants deemed necessary for the transaction. The Managing Director has been delegated the authority to finalize the terms of engagement for these professionals and undertake all consequential actions.

The meeting, held under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, commenced at 02:30 pm and concluded at 03:00 pm. Roopashree B Shettigar, Company Secretary & Compliance Officer, confirmed the outcome in the regulatory filing.