Umiya Tubes Limited has proposed changing its name to Kronmet Industries Limited and increasing its authorized share capital to ₹80 crore. The board approved these resolutions on October 6, 2026, reflecting a strategic pivot from steel tubes to tungsten-based products.

The company’s existing name reflects its former line of business in stainless steel and iron tubes. However, the explanatory statement notes that revenue from this segment is currently zero. Following an object clause alteration in August 2025, the company now derives 100% of its revenue from tungsten-based products, parts, and tools. The proposed name change aligns the corporate identity with this new operational focus.

Capital Structure Expansion

The board also recommended increasing the authorized share capital from ₹30 crore to ₹80 crore. This increase will be achieved by raising the number of equity shares from 3 crore to 8 crore, with each share retaining a face value of ₹10. The company stated that the additional capital is required for future business expansion.

Voting Timeline and Process

Shareholders are invited to vote on these resolutions through remote e-voting. The voting period commences on October 9, 2026, and concludes on November 7, 2026. The cut-off date for determining eligible members is October 2, 2026.

Strategic Pivot Details

The proposal includes an alternative name, "SOMET INDUSTRIES LIMITED," subject to Registrar of Companies approval. The application for name reservation is currently under process. The shift in nomenclature follows the formal alteration of the company's object clause, which was approved by shareholders in August 2025. This regulatory step ensures that the corporate branding accurately represents the current revenue-generating activities.

Umiya Tubes Limited held its 13th Annual General Meeting on September 30, 2026 via Video Conferencing, with all three ordinary resolutions passing successfully. A total of 3,428,410 votes were cast in favour across each resolution, representing 26.46% of total outstanding shares.

AGM overview

The meeting was convened on Wednesday, September 30, 2026 at 3:00 pm and concluded at 3:09 pm. The AGM notice was dated September 7, 2026, and was dispatched electronically to members whose email addresses were registered with the company, depositories, or the Registrar and Share Transfer Agent. The cut-off date for determining eligible voters was Friday, September 25, 2026. Remote e-voting was open from Sunday, September 27, 2026 at 9:00 am and closed on Tuesday, September 29, 2026 at 5:00 pm.

Resolutions considered and voting outcome

Three ordinary resolutions were placed before shareholders. The promoter and promoter group held 431,124 shares but cast zero votes across all resolutions. Public institutional shareholders held zero shares. The public non-institutional category held 12,525,543 shares and accounted for all votes polled.

The following table summarises the aggregate voting outcome for each resolution:

Resolution details

The three resolutions considered at the AGM were:

• Resolution 1: To receive, consider and adopt the audited financial statements of the company for the financial year ended March 31, 2026, including the audited balance sheet as at March 31, 2026, the statement of profit and loss, the cash flow statement, and the reports of the Board of Directors and auditors.
• Resolution 2: To appoint a director in place of Viral Deepak Bhai Ranpura, who retires by rotation and, being eligible, offers himself for re-appointment.
• Resolution 3: To appoint the statutory auditor of the company.

Scrutinizer's findings

Malay Desai, Proprietor of Malay Desai & Associates, Practicing Company Secretaries, Ahmedabad, was appointed as scrutinizer by the Board of Directors vide resolution passed on September 7, 2026. The scrutinizer confirmed that for each of the three resolutions, 19 members voted in favour casting 3,428,410 votes, while 1 member voted against casting 1 vote. No votes were abstained. The consolidated scrutinizer's report was submitted on September 30, 2026, and the voting results were filed with BSE Limited on October 1, 2026 by Viral Ranpura, Whole Time Director.