Somi Conveyor Beltings Limited has successfully concluded its board meeting on April 8, 2026, approving the re-appointment of Independent Director Shri Santosh Kumar Joshi for a second consecutive term. The board meeting, held from 2:30 PM to 3:30 PM, addressed the director re-appointment based on Nomination and Remuneration Committee recommendations, with the final approval subject to shareholder consent at the upcoming Extra-Ordinary General Meeting scheduled for May 6, 2026.

Board Meeting Outcomes

The board meeting on April 8, 2026 formally approved the re-appointment of Mr. Santosh Kumar Joshi as Non-executive Independent Director for a second term of five consecutive years. The decision follows regulatory compliance under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with notifications sent to both BSE and NSE exchanges. The company also approved the Notice for convening the Extra-Ordinary General Meeting and appointed FCS Ira Baxi as Scrutinizer for the e-voting process.

Independent Director Re-appointment Details

Shri Santosh Kumar Joshi's re-appointment represents continuity in the company's governance structure. The 52-year-old director brings over 31 years of extensive experience in accountancy and economics, holding M.Com and B.Ed qualifications in Economics. His second term will commence from February 22, 2026, extending until February 21, 2031.

Upcoming EGM and E-Voting Arrangements

The Extra-Ordinary General Meeting is scheduled for May 6, 2026 at 11:30 AM at the company's registered office in Jodhpur, Rajasthan. Comprehensive remote e-voting facilities will be available from May 3-5, 2026, through the CDSL e-voting platform, ensuring convenient shareholder participation in the decision-making process. The company has appointed FCS Ira Baxi (M.No.: 5456; CP No.: 4712) as Scrutinizer to ensure fair and transparent voting procedures.

Regulatory Compliance and Corporate Governance

The company has fulfilled all regulatory requirements under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary Amit Baxi (FCS: 8314) has coordinated the compliance process, ensuring proper documentation and exchange notifications. The re-appointment requires special resolution approval from shareholders, maintaining transparency in corporate governance practices.

Company Overview

Somi Conveyor Beltings Limited operates under CIN L25192RJ2000PLC016480 as part of the OM Bhansali Group. The ISO 9001 certified company, headquartered in Jodhpur, Rajasthan, specializes in manufacturing fabric, steel cord, and bucket elevator belts, maintaining its commitment to regulatory compliance and proper corporate governance standards.

Somi Conveyor Beltings Limited has delivered impressive financial performance for the third quarter ended December 31, 2025, demonstrating strong operational efficiency and market demand for its industrial conveyor belt products. The company's board of directors approved the unaudited financial results at a meeting held on February 7, 2026.

Strong Quarterly Performance

The company's Q3FY26 results showcase significant growth across key financial metrics. Revenue from operations reached ₹3,748.44 lakhs, marking a substantial increase from the previous quarter and year-ago period.

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, the company maintained steady revenue growth while facing some pressure on profitability compared to the previous year.

Operational Efficiency and Cost Management

The company's cost structure showed mixed trends during Q3FY26. Cost of materials consumed increased to ₹2,301.26 lakhs from ₹1,914.55 lakhs in Q3FY25, reflecting higher raw material costs. However, the company managed to control other operational expenses effectively, with employee benefit expenses rising modestly to ₹126.76 lakhs from ₹108.01 lakhs year-on-year.

Key Financial Ratios and Metrics

The company's financial health indicators demonstrate strong fundamentals as of December 31, 2025:

Business Developments and Expansion

Somi Conveyor Beltings is progressing with its production expansion in the mixing line segment. The company has installed additional machinery at its plant and completed initial testing, dry runs, and calibration processes. The commissioning and final trial runs are currently underway, with production expected to commence within the current financial year. This expansion will increase compounding capacity for all grades of conveyor belts, including steel cord belts, enabling timely order execution and improved operational scale.

Regulatory and Compliance Updates

The company recognized an additional gratuity liability of ₹13.92 lakhs following the Government of India's notification of Labour Codes provisions on November 21, 2025. These codes consolidate twenty-nine existing labour laws into a unified framework, introducing changes including uniform wage definitions and enhanced leave benefits. The company will evaluate further impact once Central and State Rules are fully notified.

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