Pritika Auto Industries Limited , a prominent player in the auto components sector, has announced significant changes to its corporate structure and leadership at its 45th Annual General Meeting (AGM). The company, known for its expertise in manufacturing tractor and automobile components, has taken decisive steps to streamline its operations and enhance corporate governance.

Memorandum of Association Amendments

In a move to refine its business focus, Pritika Auto has made substantial alterations to its Memorandum of Association:

• The company has completely deleted clauses III(C) 42 to III(C) 65 from its Object Clause, potentially signaling a more streamlined business approach.
• The Liability Clause has been updated to clearly state that member liability is limited to the unpaid amount on shares held.
• The Capital Clause has been amended to set the company's share capital at Rs. 40.00 crores, divided into 20 crore equity shares of Rs. 2.00 each.

Leadership Continuity and Enhancement

• Mr. Narinder Kumar Tyagi has been reappointed as a director. At 61 years old, Mr. Tyagi brings 34 years of experience as a Chartered Accountant to his role. He also serves as the company's Chief Financial Officer (CFO).
• Mr. Bishwanath Choudhary has been appointed as an Independent Director for a five-year term. At 70 years old, Mr. Choudhary is a Fellow member of the Institute of Company Secretaries of India and the Institute of Cost Accountants of India, and holds an MBA.

Enhanced Corporate Governance

Pritika Auto has appointed M/s S.K. Sikka & Associates as its Secretarial Auditor for a five-year term, spanning from the conclusion of the 45th AGM until the 50th AGM.

Shareholder Approval and Voting Results

All nine resolutions presented at the AGM were passed with overwhelming majority, with most receiving over 99% votes in favor.

These comprehensive changes at Pritika Auto Industries Limited reflect a strategic realignment of the company's structure and governance, positioning it for sustained growth and improved operational efficiency in the competitive auto components sector.

Pritika Auto Industries Ltd , a prominent player in the automotive components sector, has reported a strong financial performance for the first quarter of fiscal year 2026, along with several significant corporate decisions.

Financial Highlights

The company's unaudited financial results for Q1 FY2026, ending June 30, 2025, showcase robust growth:

Pritika Auto Industries witnessed a significant year-on-year revenue growth of 29.4%, with revenue from operations rising to Rs. 11,371.84 lakhs in Q1 FY2026 from Rs. 8,789.22 lakhs in the same quarter last year. The company's net profit also saw a healthy increase of 15%, reaching Rs. 406.75 lakhs compared to Rs. 353.61 lakhs in Q1 FY2025.

Consolidated Performance

On a consolidated basis, the company reported even stronger results:

• Revenue from operations: Rs. 11,461.00 lakhs
• Total income: Rs. 11,393.19 lakhs
• Profit before tax: Rs. 784.44 lakhs
• Net profit: Rs. 609.47 lakhs

Corporate Updates

In addition to the financial results, the Board of Directors approved several key corporate changes:

1. Auditor Appointments:

   • M/s. A.K. Sood & Associates reappointed as Internal Auditor for FY 2025-26.
   • M/s Verma Khushwinder & Co. appointed as Cost Auditor for FY 2025-26.
   • M/s S.K. Sikka & Associates proposed as Secretarial Auditor for five years, subject to shareholder approval.

2. Increase in Authorized Share Capital: The Board approved an increase in the authorized share capital from Rs. 36.50 crores to Rs. 40 crores, subject to shareholder approval.

3. Memorandum of Association Changes: The Board recommended deletion of the 'Other Objects' clause and amendment of the 'Liability Clause' in the Memorandum of Association.

4. Annual General Meeting: The 45th Annual General Meeting is scheduled for September 20, 2025, to be held via video conferencing.

5. E-voting Details: The company has fixed September 13, 2025, as the cut-off date for e-voting purposes. E-voting will commence on September 17, 2025, at 9:00 a.m. and close on September 19, 2025, at 5:00 p.m.

6. Code of Fair Disclosure: The Board approved amendments to the Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information.

Harpreet Singh Nibber, Chairman and Managing Director of Pritika Auto Industries Ltd, stated, "Our strong Q1 performance reflects the resilience of our business model and the growing demand in the automotive components sector. The strategic decisions taken by the Board are aimed at strengthening our corporate governance and paving the way for future growth."

The company's shares will be closely watched by investors following these positive results and corporate updates.