Hardwyn India Limited , a prominent player in the hardware manufacturing sector, has announced significant corporate actions that are set to reshape its business structure and governance. The company's board has approved a series of strategic decisions, including a share swap deal, appointment of new auditors, and an increase in authorized share capital.

Share Swap and Stake Acquisition

Hardwyn India Limited has approved the allotment of equity shares on a preferential basis through a share swap. This transaction will result in the acquisition of a 33.50% stake in Fiba Hardwyn Locks Limited, amounting to 22,06,674 shares at Rs. 184.00 per share.

The share swap involves issuing 2,53,76,751 securities worth Rs. 4,66,93,22,184.00 to four investors. The details of the allotment are as follows:

This strategic move is expected to enhance Hardwyn India's position in the hardware manufacturing and metal fabrication industry.

Increase in Authorized Share Capital

To facilitate future growth and potential capital raising activities, the board has approved an increase in the company's authorized share capital from Rs. 50.00 crores to Rs. 55.00 crores. This decision is subject to shareholder approval at the upcoming Annual General Meeting (AGM).

Appointment of New Auditors

In line with corporate governance best practices, Hardwyn India Limited has made two key appointments:

1. Secretarial Auditor: M/s. Amit Saxena & Associates has been appointed as the Secretarial Auditor for a period of five years, from April 2025 to March 2030. The firm brings significant experience in corporate laws, FEMA, SEBI regulations, and secretarial audits.

2. Statutory Auditor: M/s. S.S Periwal & Company has been appointed as the Statutory Auditor for five consecutive years, from the 8th to the 13th Annual General Meeting. The firm is known for its expertise in audit and assurance, tax planning, and corporate governance.

Both appointments are subject to shareholder approval at the upcoming AGM.

About Fiba Hardwyn Locks Limited

Fiba Hardwyn Locks Limited, the company in which Hardwyn India is acquiring a stake, is engaged in hardware manufacturing and metal fabrication. Some key details about the company include:

• Incorporation Date: August 22, 2005
• Registered Office: C-147 Mayapuri INDL Areaphnase II, New Delhi, Delhi, India, 110064
• Recent Financial Performance:
  • FY 2024-2025: Rs. 4,365.61 Lakhs
  • FY 2023-2024: Rs. 3,977.23 Lakhs
  • FY 2022-2023: Rs. 3,959.21 Lakhs

These strategic decisions by Hardwyn India Limited reflect the company's commitment to growth, improved governance, and strengthening its position in the hardware manufacturing sector.

Hardwyn India has announced a significant development in its product lineup, introducing Bureau of Indian Standards (BIS) certified 3D cabinet hinges. This move is poised to elevate standards within the furniture hardware sector, showcasing the company's commitment to quality and innovation.

BIS Certification: A Mark of Quality

The newly launched 3D cabinet hinges have received certification from the Bureau of Indian Standards, India's national standards body. This certification underscores the product's adherence to stringent quality norms and safety standards, potentially boosting consumer confidence in Hardwyn's offerings.

Raising the Bar in Furniture Hardware

Hardwyn's introduction of BIS-certified 3D cabinet hinges represents a strategic move to differentiate its products in the competitive furniture hardware market. The company positions these hinges as setting new benchmarks for quality and performance in the industry.

Product Features and Benefits

While specific details about the 3D cabinet hinges are not provided, such products typically offer:

• Enhanced adjustability in three dimensions (hence the '3D' designation)
• Improved durability and load-bearing capacity
• Smoother operation for cabinet doors
• Potential for better aesthetics in furniture design

Market Implications

The launch of these certified hinges could have several implications for Hardwyn India:

1. Competitive Advantage: BIS certification may give Hardwyn an edge over competitors who lack such credentials.
2. Market Expansion: Certified products could open doors to new market segments, including government contracts or high-end furniture manufacturers.
3. Brand Reputation: The move reinforces Hardwyn's image as a quality-focused brand in the hardware sector.

Company's Perspective

Rubaljeet Singh Sayal, Managing Director & CFO of Hardwyn India, authorized the press release announcing this product launch. The company views this development as significant enough to warrant formal communication to both the National Stock Exchange of India and the Bombay Stock Exchange.

Hardwyn India's launch of BIS-certified 3D cabinet hinges marks a notable step in its product development journey. As the furniture hardware industry continues to evolve, such innovations and quality certifications may play a crucial role in shaping market dynamics and consumer preferences.