SMT Engineering Ltd announced that Yash Patel has resigned from the position of Chief Financial Officer of its unlisted material subsidiary, Sai Machine Tools Private Limited. The resignation is effective June 29, 2026, and was submitted due to personal reasons cited by the outgoing executive. The subsidiary is a wholly owned entity of SMT Engineering Ltd.

The intimation was made to BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure details the cessation of Patel's role and confirms that the subsidiary will undertake the necessary statutory filings with the Registrar of Companies and other relevant authorities.

Resignation Details

The following table outlines the key particulars of the regulatory disclosure regarding the change in the subsidiary's leadership:

In his resignation letter, Patel expressed gratitude to the management, specifically Ajay Jaiswal and Ashok Jaiswal, for the opportunity to work with the organization. He requested that the management complete all requisite compliance procedures to update official records.

SMT Engineering Ltd has extended a corporate guarantee to its wholly owned subsidiary, Sai Machine Tools Private Limited, to facilitate enhanced working capital facilities from Punjab National Bank. The guarantee covers the increase in the subsidiary's Cash Credit limit from Rs 31.25 Crores to Rs 45 Crores. This strategic financial move aims to bolster the liquidity position of the subsidiary, which forms part of the consolidated group.

The board of smt engineering approved the extension of the corporate guarantee as per Regulation 30 of the Listing Regulations. The filing confirms that none of the promoters or members of the promoter group or directors have any interest in this transaction, which was conducted at an arm's length basis. However, Promoter and Director Mr. Ashok Jaiswal extended his land bearing Survey no. 27/1, measuring 0.759 hectare at village Brahman Piplya, Tehsil Sanwer, District Indore, to secure the said working capital facilities.

The revised credit facilities sanctioned to Sai Machine Tools Private Limited include a mix of short-term and long-term borrowing instruments. The total exposure under the revised facility structure amounts to Rs 55.04 Crores. The breakdown of these facilities includes a Cash Credit limit of Rs 45.00 Crores, Term Loans amounting to Rs 7.54 Crores, and a Bank Guarantee (BG) Limit of Rs 2.50 Crores.

Credit Facilities Breakdown

The company stated that the guarantee has been provided on behalf of a Wholly Owned Subsidiary which is part of the consolidated group. Consequently, there is no material impact on the financials of SMT Engineering Ltd other than the disclosure of this guarantee as a Contingent Liability in the financial statements. The disclosure was made in compliance with SEBI Master Circular no. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.