Star Delta Transformers Limited passed all resolutions at its 50th Annual General Meeting held on September 29, 2026. The meeting adopted the audited standalone financial statements for the fiscal year ended March 31, 2026, and approved the re-appointment of Mayank Gupta as a director.

The meeting, chaired by Chairman and Managing Director Kishore Gupta, commenced at 12:30 pm at the company's registered office in Bhopal. A quorum of 30 members was required, and 42 members were present to transact business. The Board of Directors' report and the auditor's report were taken as read, with shareholders voting on the adoption of the financial statements.

Director re-appointment and auditor ratification

Shareholders approved the re-appointment of Mayank Gupta as a director liable to retire by rotation. He had offered himself for re-appointment as per statutory requirements. Additionally, the meeting ratified the remuneration payable to cost auditors M/s Sanjay Kasliwal & Associates for the financial year ending March 31, 2027.

Kishore Gupta declared his interest in the resolution regarding Mayank Gupta's appointment. Consequently, Non-Interested Director Ajay Gupta chaired the proceedings for that specific item to ensure compliance with governance norms.

Voting process and attendance

The company provided remote e-voting facilities through NSDL from September 26 to September 28, 2026. Shareholders present at the venue who had not voted electronically cast their votes via ballot forms under the supervision of scrutinizer Piyush Bindal.

All directors, including committee chairpersons, attended the meeting. Statutory auditors M/s A.K. Khabya & Co. were absent due to pre-occupancy but had been granted exemption by the Board. No questions were raised by shareholders during the session.

Detailed voting results

The consolidated scrutinizer's report confirmed that all resolutions were passed with the requisite majority. The table below details the voting outcomes for the three key items:

For the adoption of financial statements, all 46 members who voted cast their votes in favour. Regarding the re-appointment of Mayank Gupta, two members voted against, representing 320 votes, while two members abstained from voting on this item. For the ratification of cost auditor remuneration, one member voted against with 180 votes.

Key resolutions passed

The following ordinary and special business items were transacted:

• Adoption of audited standalone financial statements for FY26.
• Re-appointment of Mayank Gupta as director.
• Ratification of cost auditor remuneration for FY27.

Voting results will be submitted to BSE Limited and NSDL within two working days, as mandated by Regulation 44 of SEBI LODR regulations.

Star Delta Transformers reported a 21.74% increase in total revenue to ₹174.34 crore for the financial year ended March 31, 2026 (FY26), compared to ₹143.21 crore in FY25. The company’s profit after tax rose 12.32% to ₹11.94 crore, reflecting resilient performance despite global geopolitical tensions affecting raw material costs.

Financial Performance

Revenue from operations grew 22.00% to ₹173.06 crore, supported by sustained investment in India’s power infrastructure and distribution networks. Profit before tax increased 12.19% to ₹16.04 crore. Earnings per share improved to ₹39.79 from ₹35.42 in the previous year.

Operational Context

The company operated against a challenging backdrop marked by the US-Israel military campaign against Iran and disruptions in the Strait of Hormuz, which drove volatility in crude oil, freight, and commodity prices. These factors impacted input costs for copper and CRGO steel, key materials for transformer manufacturing. Management cited disciplined procurement practices and a focus on the domestic Indian market as critical to absorbing external shocks without compromising delivery commitments or quality.

The unexecuted order book stands at ₹135.67 crore as of the reporting date, providing visibility into future revenue streams. The board has not recommended any dividend for FY26, choosing instead to plough back profits to build reserves and support future growth.

Corporate Governance and AGM

Star Delta Transformers has scheduled its 50th Annual General Meeting for Tuesday, September 29, 2026, at its registered office in Bhopal. Key agenda items include:

• Adoption of audited standalone financial statements for FY26.
• Re-appointment of Mr. Mayank Gupta as Executive Director liable to retire by rotation.
• Ratification of remuneration for cost auditors M/s Sanjay Kasliwal and Associates for FY27, proposed at ₹40,000 per annum plus out-of-pocket expenses.

Remote e-voting will be available from September 26 to September 28, 2026. The register of members and share transfer books will remain closed from September 23 to September 29, 2026.