Solitaire Machine Tools Limited has announced the appointment of Ms. Reshma Kiri as Company Secretary and Compliance Officer, effective December 11, 2025. The appointment was communicated to BSE Limited on December 23, 2025, in compliance with regulatory disclosure requirements.

Appointment Details and Professional Background

Ms. Reshma Kiri has been designated as Company Secretary and Compliance Officer, marking her entry into the key managerial personnel of the organization. The company has provided comprehensive details about her professional credentials and the nature of her appointment.

Professional Credentials and Experience

Ms. Reshma Kiri brings valuable expertise to her new role as an Associate Member of the Institute of Company Secretaries of India (ICSI) with membership number A54902. She possesses three years of specialized experience in secretarial and compliance departments, providing her with the necessary background to handle the responsibilities of her new position. Additionally, she holds a Bachelor of Commerce (B.Com) degree, further strengthening her academic foundation for the role.

Regulatory Compliance and Disclosure

The appointment has been made in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Solitaire Machine Tools Limited has fulfilled its disclosure obligations by formally notifying BSE Limited about this key managerial appointment. The communication was made under the company's scrip code 522152 and scrip name SOLIMAC, ensuring proper identification and record-keeping by the stock exchange.

Corporate Governance Framework

As Company Secretary and Compliance Officer, Ms. Reshma Kiri will be responsible for ensuring the company's adherence to regulatory requirements and maintaining high standards of corporate governance. Her appointment reflects Solitaire Machine Tools Limited's commitment to strengthening its compliance framework and ensuring transparent operations in line with regulatory expectations.

Solitaire Machine Tools Limited , a manufacturer and remanufacturer of centreless grinding machines and spare parts, has reported a significant decline in its financial performance for the first quarter ended June 30, 2025. The company's unaudited financial results, approved by the Board of Directors on July 22, 2025, reveal a substantial drop in both revenue and profit compared to the previous quarter and the same period last year.

Revenue and Profit Decline

For Q1 FY2026, Solitaire Machine Tools reported revenue from operations of Rs 208.39 lakhs, marking a sharp 70.4% decrease from Rs 704.15 lakhs in the previous quarter (Q4 FY2025). The year-over-year comparison shows a 57.1% decline from Rs 485.65 lakhs in Q1 FY2025.

The company's profit after tax (PAT) for the quarter stood at Rs 4.11 lakhs, significantly lower than the Rs 71.03 lakhs reported in the previous quarter and Rs 43.20 lakhs in the same quarter last year. This represents a 94.2% quarter-on-quarter decrease and a 90.5% year-on-year decline in net profit.

Financial Highlights

Operational Performance

The company's total expenses for Q1 FY2026 were Rs 215.51 lakhs, with the cost of materials consumed being the largest component at Rs 200.37 lakhs. Despite the lower revenue, the company managed to reduce its total expenses by 66.3% compared to the previous quarter and 50.7% year-over-year.

The operating profit margin (OPM) for the quarter stood at 20.45%, showing an improvement from 15.36% in the previous quarter and 19.04% in the same quarter last year.

Segment Information

Solitaire Machine Tools Limited operates in a single business segment as a manufacturer and remanufacturer of centreless grinding machines and spare parts. The company's performance is assessed based on this single segment by its chief operating decision maker (CODM).

Auditor's Review

The unaudited financial results for Q1 FY2026 have undergone a limited review by the company's statutory auditors, K.C. Mehta & Co., LLP. The auditors have not expressed any material misstatement in their review report.

Conclusion

The significant decline in revenue and profit for Solitaire Machine Tools Limited in Q1 FY2026 reflects challenging market conditions for the company. While the company has managed to improve its operating profit margin, the substantial decrease in overall business activity is a concern. Investors and stakeholders will be closely monitoring the company's performance in the coming quarters for signs of recovery and growth.