Anil Aggarwal, Chairman and Whole Time Director of Sterling Tools Limited , disposed of 10,00,000 equity shares representing 2.75% of the total paid-up share capital through an off-market inter-se transfer on June 5, 2026. The shares were transferred by way of gift to immediate relatives within the promoter group, as disclosed to the stock exchanges under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The total shareholding of the promoter and promoter group remains unchanged following this transaction.

Shareholding Details

The transfer involved shares carrying voting rights. Prior to the disposal, Aggarwal held 61,10,583 shares, accounting for 16.81% of the company's equity. Post-transaction, his direct holding stands at 51,10,583 shares, which constitutes 14.06% of the total paid-up capital.

Capital Structure

The equity share capital of Sterling Tools Limited remains at ₹7,26,88,852, divided into 3,63,44,426 shares of ₹2 each. The disclosure confirmed that there are no warrants, convertible securities, or encumbered shares involved in the transaction. The filing was submitted to BSE Limited and the National Stock Exchange of India Limited on June 8, 2026.

Sterling Tools Limited has initiated the remote e-voting process to seek shareholder approval for the appointment of Mr. Anish Agarwal as Whole Time Director. The voting period commences on Thursday, May 28, 2026, at 9:00 A.M. (IST) and concludes on Friday, June 26, 2026, at 5:00 P.M. (IST). Shareholders registered as of the cut-off date, Friday, May 22, 2026, are eligible to participate. The resolution requires a special resolution as the proposed remuneration is expected to cause the overall managerial remuneration to exceed 11% of the net profits of the company.

The Board of Directors, at its meeting held on May 15, 2026, approved the appointment of Mr. Anish Agarwal (DIN: 07056465) for a period of five years effective from May 15, 2026, to May 14, 2031. The company has dispensed with sending physical copies of the Postal Ballot Notice and Forms in compliance with Regulation 44 of the SEBI Listing Regulations and relevant MCA Circulars. Consequently, voting will be conducted exclusively through the remote e-voting system facilitated by NSDL.

Remuneration Structure

The company has proposed the following remuneration structure for Mr. Anish Agarwal for a period of three years from July 1, 2026, to June 30, 2029:

Reimbursements for business travel, medical assistance, and club fees will be provided as per company policy. Contributions to Provident Fund and Superannuation Fund will be made in accordance with company policy.

Director Profile

Mr. Anish Agarwal, aged 36, holds a degree in Manufacturing and Mechanical Engineering from the University of Warwick and an MBA from Imperial College Business School, London. He currently serves as a Non-Executive Non-Independent Director and brings over 16 years of experience in the automobile business. He is the son of Mr. Anil Aggarwal, Chairman & Whole Time Director, and brother of Mr. Akhill Aggarwal, Whole Time Director.

Financial Performance

The company disclosed its financial performance for the past three years in the explanatory statement:

Mr. Santosh Kumar Pradhan, Practicing Company Secretary, has been appointed as the Scrutinizer. The results will be declared within two working days from the conclusion of remote e-voting and will be available on the company's website and the websites of the National Stock Exchange of India Ltd and BSE Ltd.