Solitaire Machine Tools Limited has announced a key leadership appointment following its board meeting held on December 11, 2025. The company has appointed Ms. Reshma Kiri as Company Secretary and Compliance Officer, marking an important addition to its management team.

Board Meeting Details and Appointment

The board of directors convened on Thursday, December 11, 2025, to deliberate on various matters. The meeting commenced at 11:15 a.m. and concluded at 12:15 p.m. on the same day. During this session, the board considered and approved the appointment of Ms. Reshma Kiri to the position of Company Secretary and Compliance Officer.

Regulatory Compliance

The appointment has been made in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015. This regulation mandates listed companies to disclose material events and information that could impact investor decisions. The company has fulfilled its disclosure obligations by informing the stock exchanges about this key managerial appointment.

Professional Credentials

Ms. Reshma Kiri brings professional expertise to her new role, holding the Associate Company Secretary (ACS) qualification with membership number 54902. As Company Secretary and Compliance Officer, she will be responsible for ensuring the company's adherence to regulatory requirements and corporate governance standards. Her designation as Key Managerial Personnel reflects the strategic importance of this position within the organizational structure.

Communication and Transparency

The company has committed to maintaining transparency by stating that this information will be hosted on its official website at www.smtgrinders.com in due course. This demonstrates the company's commitment to keeping stakeholders informed about significant corporate developments and maintaining open communication channels with investors and other interested parties.

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.