W H Brady & Co Ltd has scheduled its 113th Annual General Meeting for Saturday, September 26, 2026. The meeting will convene via video conferencing to address ordinary and special business items for the financial year ended March 31, 2026.

Director Re-Appointments

Shareholders will vote on the re-appointment of Mr Vaibhav Morarka as a Non-Executive Director, who retires by rotation. The board also seeks approval for the re-appointment of Mr Cyrus Vachha as a Non-Executive Independent Director for a five-year term effective from September 29, 2026.

Mr Vachha, an 81-year-old banking and internal audit professional, was initially appointed in September 2021. The Nomination and Remuneration Committee recommended his re-appointment based on his performance evaluation and expertise. As he has attained the age of 75 years, the resolution requires member approval under Regulation 17(1A) of the SEBI Listing Regulations.

Related-Party Transactions

The most significant special business item involves approving material related-party transactions with Brady & Morris Engineering Company Limited, a subsidiary of the promoter company. The board seeks omnibus approval to provide loans, guarantees, or security to the subsidiary for existing and future loans.

The proposed transactions are capped at an aggregate value of ₹300 crore per financial year from FY27 through FY36. These facilities aim to support the subsidiary’s operational efficiency, business expansion, and project execution. The loans will be provided at arm’s length terms with mutually agreed interest rates.

Transaction Details

Brady & Morris Engineering Company Limited reported a turnover of ₹73.10 crore and a net profit of ₹5.57 crore for FY26. Its net worth stands at ₹53.07 crore. The listed entity’s directors Mr Pavan G Morarka, Mr Vaibhav Morarka, and Mr Rajender Kumar Sharma have interests in this transaction.

Meeting Logistics

The AGM will be held through VC/OAVM modes in compliance with MCA circulars. The deemed venue is the registered office at Brady House, Mumbai. Remote e-voting will be available from Wednesday, September 23, 2026, at 9:00 am until Friday, September 25, 2026, at 5:00 pm. The record date for voting rights is September 19, 2026.

W H Brady & Company reported a sharp decline in profitability for the financial year ended March 31, 2026, with standalone net profit falling 71.66% year-on-year to ₹89.75 lakh from ₹316.67 lakh in FY25.

The decline in earnings coincided with a 26.74% drop in revenue from operations, which stood at ₹2,160.96 lakh compared to ₹2,949.76 lakh in the previous fiscal. The company attributed the lower turnover to macroeconomic headwinds and slowing consumer demand.

Consolidated Performance

On a consolidated basis, the group’s net profit fell 76.17% to ₹647.25 lakh from ₹2,717.64 lakh in FY25. Consolidated revenue from operations decreased 15.76% to ₹8,857.33 lakh from ₹10,514.37 lakh.

The subsidiary, Brady & Morris Engineering Company Limited, contributed significantly to the group’s bottom line, reporting a net profit of ₹557.48 lakh against a turnover of ₹7,310.55 lakh.

What the Numbers Show

A key divergence in the financials is the contrast between declining operational revenues and rising other income. While revenue from operations dropped nearly 27%, other income remained robust at ₹397.18 lakh (down only 10.07% from ₹441.68 lakh). Interest income alone accounted for ₹154.62 lakh, suggesting that investment returns continue to cushion the impact of weaker core trading and rental activities.

AGM and Related Party Transactions

The company has scheduled its 113th Annual General Meeting for September 26, 2026, to be held via video conferencing. Shareholders will be asked to approve material related party transactions involving loans, guarantees, or security for Brady & Morris Engineering Company Limited, with an aggregate value not exceeding ₹300 crore per financial year until FY36.

The board also recommended the re-appointment of Mr. Cyrus Vachha as an Independent Director for a second term of five years, effective September 29, 2026. No dividend was declared for FY26.