SMT Engineering Ltd (formerly known as Adarsh Mercantile Limited) has announced a significant board meeting scheduled for September 12, 2025, to deliberate on a proposal for raising funds through various financial instruments. The company's board will consider and evaluate options for issuing equity shares, warrants convertible into equity shares, or other permissible securities.

Fund Raising Options

The board will explore multiple avenues for raising capital, including:

1. Preferential issue
2. Private placement
3. Other permitted methods

These fund-raising initiatives will be subject to necessary approvals from shareholders and regulatory authorities.

Additional Agenda Items

In addition to the fund-raising proposal, the board meeting will address the following matters:

1. Convening a General Meeting to seek shareholder approval for the proposed fund-raising plan.
2. Any other business matters with the permission of the Chairman.

Trading Window Closure

In compliance with regulatory requirements, SMT Engineering has implemented a trading window closure for all connected persons, officers, designated employees, insiders, and directors of the company, including their immediate relatives. The trading window will remain closed from September 9, 2025, until 48 hours after the declaration of the board meeting outcome.

Company Background

SMT Engineering Limited is headquartered in Kolkata, West Bengal. The company recently changed its name from Adarsh Mercantile Limited, reflecting a potential shift in its business focus or strategy.

Investor Communication

The company has duly informed the BSE Limited about the upcoming board meeting, adhering to the disclosure requirements under SEBI regulations. This transparency ensures that investors and stakeholders are kept informed about potential corporate actions that may impact the company's financial structure.

As the board meeting approaches, investors and market analysts will be keenly watching for the outcome, particularly regarding the size, structure, and purpose of the potential fund raise. The decision could have significant implications for SMT Engineering's future growth plans and financial position.

SMT Engineering Ltd (formerly known as Adarsh Mercantile Limited) has announced its unaudited financial results for the first quarter of fiscal year 2026, along with several key corporate developments. The company's board meeting, held on August 12, 2025, addressed various matters including financial performance, auditor appointments, and regulatory compliance.

Q1 FY26 Financial Performance

For the quarter ended June 30, 2025, SMT Engineering reported the following consolidated results:

The company's performance shows a slight decrease in revenue from operations compared to the previous quarter but a significant increase in profitability. The year-over-year comparison is not applicable as the company had no operations in the corresponding quarter of the previous year.

Appointment of New Auditors

The board has recommended the appointment of M/s Anil Kamal Garg & Company, Chartered Accountants, as the new Statutory Auditors for a term of five consecutive years, subject to shareholder approval at the upcoming Annual General Meeting. This appointment will commence from the conclusion of the forthcoming AGM and continue until the AGM to be held in 2030.

Additionally, M/s P.S. Tripathi & Associates, Practicing Company Secretaries, have been appointed as the Secretarial Auditor for a five-year term from FY 2025-26 to FY 2029-30. M/s Pradhumn Pathak and Associates, Chartered Accountants, will serve as the Internal Auditor for FY 2025-26.

Corporate Governance and Compliance

SMT Engineering has taken steps to strengthen its corporate governance framework:

1. Adopted a policy on "Determination of Material Subsidiary."
2. Authorized key management personnel to determine the materiality of events for stock exchange disclosures under SEBI regulations.
3. Addressed a fine levied by BSE Limited for non-compliance with quarterly reporting regulations for Q4 FY25. The company attributed the delay to complexities arising from first-time consolidation of financial statements following recent acquisitions.

Recent Acquisitions and Corporate Structure

The company's consolidated results now include two subsidiaries:

1. Sai Machine Tools Private Limited (Wholly Owned Subsidiary)
2. Chemerix Life Sciences Private Limited (Wholly Owned Step-down Subsidiary)

Both subsidiaries were acquired on March 26, 2025, marking SMT Engineering's expansion into new business segments.

Outlook

With these strategic moves and improved financial performance, SMT Engineering appears to be positioning itself for growth and improved corporate governance. The company's efforts to address past compliance issues and strengthen its audit and reporting mechanisms suggest a focus on transparency and regulatory adherence going forward.

Investors and stakeholders will likely be watching closely to see how these changes and the recent acquisitions impact the company's performance and market position in the coming quarters.