Bhagwati Autocast Limited has announced the sad demise of its Non-Executive Non Independent Director-Chairperson Shri Pravin Natvarlal Bhagwati, who passed away on March 01, 2026, at the age of 90 years. The company informed BSE Limited about this development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.

Leadership Legacy and Contribution

Shri Pravin Natvarlal Bhagwati played a pivotal role in the company's growth trajectory, helping transform the organization from its humble beginning in 1984 to its current position. The company emphasized that his leadership was built on very strong fundamentals, which contributed significantly to the organization's development over the years.

Regulatory Disclosure Details

As per the mandatory disclosure requirements under SEBI regulations, the company provided specific details regarding the cessation:

Company's Tribute

The management and employees of Bhagwati Autocast Limited have expressed their deep sorrow over the loss. The company described Shri Pravin Natvarlal Bhagwati's passing as an irreparable loss to the family, organization, and everyone associated with him. The management has conveyed heartfelt condolences to his family during this difficult time.

Corporate Communication

The formal intimation was signed by Kamlesh Prajapati, Chief Financial Officer of Bhagwati Autocast Limited, and submitted to BSE Limited for record purposes. The company is headquartered at Survey No. 816, Village: Rajoda, Near Bavla, Dist. Ahmedabad, Gujarat, and operates under CIN L27100GJ1981PLC004718.

Bhagwati Autocast Limited delivered impressive financial performance for the third quarter of fiscal year 2026, with net profit surging 150.23% year-on-year to Rs 353.81 lakhs. The Gujarat-based casting manufacturer announced these results following a Board meeting held on February 4, 2026, at its registered office in Ahmedabad.

Strong Revenue Growth Drives Performance

The company's revenue from operations demonstrated robust growth, increasing 35.46% to Rs 4290.33 lakhs in Q3FY26 compared to Rs 3167.33 lakhs in the corresponding quarter of the previous year. This substantial revenue expansion contributed significantly to the company's improved profitability metrics.

Exceptional Nine-Month Performance

The nine-month period ended December 31, 2025, showcased even more remarkable results. Net profit after tax reached Rs 989.09 lakhs, representing a substantial 189% increase from Rs 342.29 lakhs in the corresponding nine-month period of the previous year. Revenue for the nine-month period grew 24.60% to Rs 12630.55 lakhs compared to Rs 10136.56 lakhs in the previous year.

Operational Efficiency and Cost Management

The company maintained effective cost control while scaling operations. Total expenses for Q3FY26 were Rs 3720.74 lakhs compared to Rs 2978.61 lakhs in Q3FY25. Key expense components included cost of materials consumed at Rs 1771.25 lakhs, employee benefit expenses of Rs 468.51 lakhs, and consumption of stores & spares at Rs 557.35 lakhs.

Corporate Governance and Compliance

The Board of Directors, led by Managing Director Reena P. Bhagwati, approved the unaudited standalone financial results after review by the Audit Committee. The statutory auditors Mahendra N Shah & Co. conducted a limited review of the results as per Regulation 33 of SEBI Listing Regulations. The company also updated its Policy on Related Party Transactions during the Board meeting.

Business Segment and Future Outlook

Bhagwati Autocast Limited operates in manufacturing of castings as its single reportable business segment. The company has made additional provisions of Rs 38.72 lakhs towards past service cost related to the implementation of four new Labour Codes effective from November 21, 2025. The financial results demonstrate the company's strong operational performance and effective business execution in the casting manufacturing sector.