SNL Bearings Limited concluded its 46th Annual General Meeting (AGM) on August 11, 2026, with shareholders approving key governance resolutions including the re-appointment of directors. The meeting, conducted through Video Conference/Other Audio-Visual Means (VC/OAVM), commenced at 11:33 a.m. IST and ended at 12:16 p.m. IST, providing investors with an update on the company’s operational performance for FY25-26.

The proceedings were disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Harshbeena Zaveri, Chairperson of SNL Bearings Limited, presided over the meeting, welcoming shareholders and confirming the presence of the requisite quorum. She outlined the company’s business affairs, highlighting performance metrics for the fiscal year ended March 31, 2026, before moving to formal resolutions.

Key Resolutions Passed

Shareholders considered both ordinary and special business items as detailed in the notice dated May 4, 2026. The primary focus was on board composition and financial accountability.

Satish Chellaram Rangani retired by rotation but was eligible and offered himself for re-appointment. Similarly, Kaiyomarz Minoo Marfatia sought re-appointment as an Independent Director. The Board also sought approval for material related party transactions and the payment of commissions to non-executive directors.

Voting Process and Scrutiny

The e-voting process was managed to ensure transparency and compliance with regulatory standards. Remote e-voting began at 9:00 a.m. IST on August 8, 2026, and closed at 5:00 p.m. IST on August 10, 2026. Shareholders who did not cast their votes remotely were provided the facility to vote electronically during the live meeting.

M/s. Upendra Shukla & Associates (FRN: S2024MH963100), practicing Company Secretaries, were appointed as the scrutinizer for the e-voting process. The consolidated scrutinizer’s report, detailing the final voting results for both remote and ballot voting, is to be intimated separately.

Engagement with Shareholders

During the question-and-answer session, shareholders raised queries regarding the company’s business operations and strategic direction. Management representatives addressed these concerns satisfactorily, ensuring clarity on the matters discussed. Following the Q&A, the e-voting facility remained open for an additional 15 minutes to allow any remaining participants to exercise their voting rights before the meeting concluded.

The Notice, Directors’ Report, Auditors’ Report, and Audited Financial Statements were circulated prior to the meeting and were deemed read during the proceedings. This filing serves as a brief summary of the proceedings and does not constitute the official minutes of the AGM.

SNL Bearings Limited reported a 27.6% year-on-year rise in net profit after tax (PAT) to ₹346 lakh for the quarter ended June 30, 2026, driven by robust revenue growth and improved operational margins. Revenue from operations expanded by 23.3% to ₹1,525 lakh, up from ₹1,237 lakh in the corresponding quarter of FY25. The company’s Board of Directors approved the unaudited financial results on August 06, 2026, following a limited review by statutory auditors Walker Chandio & Co LLP.

The Board meeting also addressed a change in internal audit leadership. M/s. Jayesh Bhagchandani & Co., Chartered Accountants, ceased to act as the Internal Auditor following the demise of its proprietor, Mr. Jayesh Bhagchandani, on July 13, 2026. The company is currently in the process of appointing a new internal auditor to fill the casual vacancy. These disclosures were made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance Highlights

Revenue from operations grew sequentially as well, rising slightly from ₹1,522 lakh in Q4FY26. Other income contributed significantly to the top line, increasing to ₹124 lakh from ₹86 lakh in Q1FY25, compared to a negligible negative balance in the preceding quarter. Total expenses rose to ₹1,183 lakh, with cost of materials consumed increasing to ₹510 lakh and employee benefits expense standing at ₹266 lakh.

What the Numbers Show

The expansion in profit before tax (PBT) outpaced revenue growth, indicating effective cost management. PBT surged 32.4% year-on-year to ₹466 lakh, while revenue grew by 23.3%. This divergence suggests an improvement in operating leverage during the quarter. Additionally, the significant jump in other income from ₹86 lakh to ₹124 lakh provided a supplementary boost to overall profitability, although core operational efficiency remained the primary driver of the earnings beat against the previous year's figures.

The company operates under a single segment, "Bearing," as defined under Ind AS 108. There were no subsidiaries, associates, or joint ventures, so consolidated financial results are not applicable. An interim dividend of ₹15 per equity share was previously declared and paid on May 07, 2026.