Forbes Precision Tools and Machine Parts Limited shareholders have decisively approved the continuation of an independent director's tenure at the company's Extra Ordinary General Meeting held on February 2, 2026. The meeting, conducted through video conferencing at 11:00 AM, addressed a crucial governance matter under SEBI regulations.

Resolution Details and Voting Outcome

The special resolution sought approval for the continuation of Mr. Sivanandhan Dhanushkodi (DIN: 03607203) as a Non-Executive Independent Director pursuant to Regulation 17(1A) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The resolution received overwhelming shareholder support.

Shareholder Participation and Categories

The meeting witnessed participation from 48 shareholders through video conferencing, comprising one promoter group member and 47 public shareholders. The voting pattern across different shareholder categories demonstrated strong support for the resolution.

Meeting Administration and Compliance

The company maintained full regulatory compliance throughout the process. The cut-off date for determining voting eligibility was set as January 26, 2026, with 14,166 shareholders on record. Remote e-voting was facilitated through NSDL platform from January 29 to February 1, 2026.

Mehul Raval, Practicing Company Secretary, served as the scrutinizer for the voting process. The meeting notice was dispatched on January 9, 2026, via email to registered shareholders and published in newspapers on January 10, 2026, ensuring proper communication and transparency.

Corporate Governance Significance

The resolution's passage ensures continuity in the company's board composition and maintains compliance with SEBI's independent director regulations. The overwhelming approval rate of 99.9962% reflects strong shareholder confidence in the director's continued contribution to the company's governance framework.

Company Secretary and Compliance Officer Rupa Khanna oversaw the meeting proceedings, with all documentation and voting results properly recorded and submitted to BSE Limited as per regulatory requirements under Regulation 44 of SEBI Listing Regulations.

Forbes Precision Tools & Machine Parts has reported a decline in its third quarter financial performance, with net profit falling to ₹56.00 million compared to ₹74.00 million in the corresponding quarter of the previous year. This represents a significant year-on-year decrease of 24.32% in the company's bottom line.

Financial Performance Overview

The engineering company's Q3 results show the impact on profitability during the quarter. The decline in net profit indicates operational challenges or market conditions that affected the company's financial performance compared to the same period in the previous fiscal year.

Business Impact

The ₹18.00 million absolute decline in net profit highlights the financial challenges faced by Forbes Precision Tools & Machine Parts during the third quarter. The company, which operates in the precision tools and machine parts segment, experienced reduced profitability compared to its performance in the same quarter of the previous year.

The year-on-year comparison provides insight into the company's operational efficiency and market positioning during the reporting period. The decline suggests that the company faced headwinds that impacted its ability to maintain the profit levels achieved in the corresponding quarter of the previous fiscal year.