SMT Engineering Limited Independent Directors Conduct Board Performance Review

SMT Engineering Limited (formerly known as Adarsh Mercantile Limited) announced the outcome of a separate meeting of independent directors held on March 24, 2026. The meeting was conducted in compliance with regulatory requirements and focused on key governance assessments.

Meeting Agenda and Outcomes

The independent directors addressed three primary areas during their separate meeting:

Assessment Area:	Details
Board Performance Review:	Reviewed performance of non-independent directors and the board as a whole
Chairperson Evaluation:	Assessed chairperson's performance considering views of executive and non-executive directors
Information Flow Assessment:	Evaluated quality, quantity and timeliness of information flow between management and board

Corporate Governance Framework

The separate meeting of independent directors represents a critical component of the company's corporate governance structure. The assessment of information flow between company management and the board ensures that directors can effectively and reasonably perform their duties with adequate and timely information.

Regulatory Compliance

The meeting outcome was communicated to BSE Limited as part of the company's disclosure obligations. Independent Director Abhishek Kanungo (DIN: 11259823) signed the regulatory filing, ensuring compliance with listing requirements and maintaining transparency with stakeholders.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+5.00%	+0.86%	+3.12%	+640.95%	+3,957.26%	+6,805.71%

SMT Engineering Limited has successfully completed a preferential allotment of equity shares, raising significant capital from non-promoter investors. The company's Board of Directors approved and executed the allotment on February 10, 2026, in compliance with regulatory requirements.

Allotment Details

The company allotted 15,50,000 equity shares of Rs. 10 face value each at an issue price of Rs. 225 per share on a preferential basis. The total consideration received from this allotment amounts to Rs. 34,87,50,000. All shares were allotted to investors belonging to the Non-Promoter Public Category in accordance with Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Investor Breakdown

The preferential allotment was distributed among eight non-promoter investors:

Investor Name	Category	Shares Allotted	Consideration (Rs.)
Natwarlal Keshavjibhai Kawa	Non-Promoter	4,23,000	9,51,75,000
Kunal Haresh Mehta	Non-Promoter	2,88,000	6,48,00,000
Bijal Kaushik Gandhi	Non-Promoter	2,09,500	4,71,37,500
Jitendra R Sanghavi (Huf)	Non-Promoter	2,00,000	4,50,00,000
Rasiklal P Sanghavi (Huf)	Non-Promoter	2,00,000	4,50,00,000
Nimesh Singh Huf	Non-Promoter	1,03,750	2,33,43,750
Priti Nimesh Singh	Non-Promoter	1,03,750	2,33,43,750
Umang Ketan Mehta	Non-Promoter	22,000	49,50,000
Total		15,50,000	34,87,50,000

Regulatory Compliance

The allotment was conducted in full compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board meeting to approve the allotment was held on February 10, 2026, commencing at 05:00 p.m. and concluding at 05:30 p.m. The company has duly informed BSE Limited about the allotment as required under the listing regulations.