Bansal Roofing Products Ltd

Bansal Roofing Products Ltd — Trading window closed from October 1, 2026 for Quarter and Half Year ended September 30, 2026

AGM Details

• AGM held on 12 September 2026 at 2:00 PM via VC/OAVM.
• Mode: VC/OAVM; meeting ended at 3:00 PM.
• Record date: 03 September 2026.
• Cut-off for voting: 05 September 2026.
• Last date for postal ballot receipt: 12 September 2026.
• Held without physical presence; attendance via VC/OAVM.

Key Resolutions & Outcomes

• Resolution 1 (Ordinary): Adopt Audited Standalone Financial Statements; passed with 100% in favour.
• Resolution 2: Declare final dividend of Rs 2 per equity share; passed with 99.99% in favour.
• Resolution 3 (Ordinary): Re-appoint Sangeeta Gupta as director; passed with 99.99% in favour.
• Resolution 4: Increase remuneration of Statutory Auditors; passed with 99.99% in favour.
• Resolution 5: Ratify remuneration of Cost Auditors; passed with 99.99% in favour.
• Resolution 6 (Special): Re-appoint Kaushalkumar S Gupta as CMD; passed with 99.99% in favour.

Director Changes

• Sangeeta Gupta re-appointed as director (retiring by rotation).
• Kaushalkumar S Gupta re-appointed as Chairman and Managing Director.

CMD Re-appointment

• Type of change: Re-appointment of Kaushalkumar S. Gupta as Chairman and Managing Director.
• Effective date: August 01, 2026; term till August 01, 2031.
• Reason: Re-appointment approved by AGM.
• Profile: 52-year-old Kaushalkumar Gupta; founder promoter; Director since incorporation; 27+ years’ experience.
• Relationships: Spouse of Non-Executive Director Sangeeta K. Gupta; father of Whole-Time Director Kailash Bansal.
• AGM approval: 18th AGM on Sep 12, 2026 approved the re-appointment.

AGM Details

• AGM held Sep 12, 2026 at 02:00 p.m. IST via VC/OAVM; concluded 03:00 p.m. IST.

Key Resolutions

• Adopt Audited Standalone Financial Statements and reports (Ordinary).
• Declare final dividend of Rs 2 per equity share (Ordinary).
• Appoint director by rotation: Sangeeta Gupta; eligible for re-appointment (Ordinary).
• Increase remuneration of Statutory Auditors (Ordinary).
• Ratification of remuneration of Cost Auditors (Special).
• Re-appointment of Kaushalkumar Gupta as Chairman and Managing Director (Special).

Voting Results

• Voting outcome for all resolutions not disclosed in filing; results to be announced.
• Voting results pending; e-voting and AGM tallying ongoing.

Dividend

• Final dividend of Rs 2 per equity share approved.

Director Changes

• Director Sangeeta Gupta to be re-appointed by rotation.
• Kaushalkumar Gupta to continue as Chairman and MD.

Auditors

• Statutory Auditor remuneration increased.
• Cost Auditor remuneration ratified.

Key details

• Record Date: Thursday, September 3, 2026 for dividend entitlement.
• Purpose: AGM and dividend eligibility for FY 2025-26; dividend Rs 2 per equity share (20%).
• AGM date: 12 September 2026; held via Video Conferencing/OAVM.
• Dividend payment, if declared, will be paid/dispatched within statutory period.
• Subject to shareholders' approval at the 18th AGM.
• Security: Equity Shares (BSE: 538546, ISIN INE319Q01012).

AGM Details

• Date and time: September 12, 2026, 2:00 PM IST.
• Mode: VC/OAVM.

Dividend item amendment

• Final dividend item (Item No. 2) amended; corrected amount per share.

Voting results

• Outcome not disclosed in corrigendum.

Compliance update

• Purpose: comply with Regulation 30 and 36(1)(b) SEBI LODR.
• Action: letters sent to shareholders without registered email IDs.
• Content: letters provide a weblink to access FY2025-26 annual report.
• Enclosed: copy of the letter.
• Info also available on the company website.

Financial highlights

• Total Revenue including Other Income: 15,442.12 Lakhs.
• EBITDA rose to 1,595.71 Lakhs from 930.40.
• PAT rose to 1,054.25 Lakhs from 553.81.
• EPS at 8.00, up from 4.20.
• Revenue grew 59.60% YoY to 15,442.12 Lakhs.
• EBITDA Margin: 10.33%.
• PAT Margin: 6.83%.
• Net Worth rose to 4,220.38 Lakhs.
• Outstanding Borrowings: 227.60 Lakhs; Debt-to-Equity: 0.05.

Expansion & capacity

• Phase 5 expansion: ~26,000 sq ft for shot blasting/painting.
• Phase 6 expansion: ~20,000 sq ft for light fabrication.
• Completion expected by Aug 2026; PEB capacity ~1,200 MT/month.
• Solar MMS line commissioned June 2026; ~2,000 MT/month capacity.
• ISO 9001:2015; ISO 14001:2015; ISO 45001:2018; ZED Gold.

Dividends & capital

• No dividend declared for FY2025-26.
• FY2024-25 dividend declared at AGM (Sept 10, 2025) and paid Sept 30, 2025.
• Authorised share capital: Rs 15,00,00,000.
• Paid-up capital: Rs 13,18,32,000.
• No buybacks, Sweat Equity, Bonus, or Right Issue in FY2025-26.

Governance & compliance

• Board: 6 directors; 50% independent non-executive; two women.
• Independent Directors: Arpita Shah resigned Aug 2025; Yaksh Darji joined; Enu Shah resigned Dec 2025; Nishi Brahmkhatri joined Jan 2026; Ravi Bhandari re-appointed Mar 2026.
• Statutory Auditor: PSCA & CO.
• Internal Auditor: VRAJM & Associates; Secretarial Auditor: Devesh R. Desai; Cost Auditor: Shivam Dave & Co.
• Internal Financial Controls: Adequate; no material weakness.

CSR & sustainability

• CSR spend 11,99,860; CSR obligation 11,87,357.
• Excess of 12,503 to be set off; unspent CSR to be carried forward.
• CSR policy and projects disclosed on company website.

Audits & internal controls

• Statutory Auditor: M/s PSCA & CO.
• Internal Auditor: M/s VRAJM & Associates.
• Secretarial Auditor: Devesh R. Desai.
• Cost Auditor: Shivam Dave & Co.
• No fraud disclosed; internal controls adequate.

Outlook & risks

• Outlook remains positive on infra, manufacturing and renewables growth.
• Risks include raw material price volatility, competition, and project award cycles.

Financial Performance

• Q1 FY27 revenue from operations: Rs45.89 crore; YoY +26.8% vs Rs36.20 crore.
• Q1 FY27 EBITDA: Rs4.12 crore; margin 9% vs 8% in Q1 FY26.
• Q1 FY27 PAT: Rs2.67 crore; YoY +31.9%.
• Q1 FY27 diluted EPS: Rs2.02; vs Rs1.53 in Q1 FY26.
• Sequential: revenue roughly flat vs Q4 FY26; EBITDA and PAT lower QoQ.

Expansion and Capacity

• Phase 5 and Phase 6 expansion under construction; completion by mid-September 2026.
• Phase 6 adds ~200 MT/month light fabrication PEB capacity.
• Q1 FY27 machinery capex: Rs5 crore; CNZ Drone Forming, CNC Plasma, etc.
• Solar MMS entry; high-speed roll-forming machines installed; operating in Q2 FY27.
• Rooftop solar: +100 kW; total rooftop ~300 kW; ~45% electricity from solar.
• Two-shift production model; 8-12 hours; potential extension to 16 hours.

Capacity Utilization and Product Mix

• Roofing sheet capacity 10,000 MT; production 5,072 MT; utilization 50.72%; post-expansion 15,000 MT.
• Decking capacity 6,000 MT; production 552 MT; utilization 9.2%.
• Purlin capacity 1,500 MT; production 1,278 MT; utilization 85.20%; post-expansion 3,600 MT.
• PEB structure capacity 9,600 MT; production 773 MT; utilization 80.86%; post-expansion 15,000 MT.
• Solar structure capacity added; production yet to occur.

Operations and Staffing

• Total employees 300 (100 full-time, 200 contract).
• Mumbai office closed; no revenue contribution.
• Debt around Rs6 crore as of 30 June 2026.
• No external funds required to date; future expansion may use term loan.
• Receivable days historically <14 days; solar projects may push to 30-45 days.

Q&A Highlights

• Solar MMS opportunity: capacity 25,000 tons/month; top line ~ Rs20 crore per month; gross 4-5%; net 2.5-3%.
• Current PEB capacity 1,200 ton/month; with more orders and additional shifts, up to ~2,000 tons possible.
• Order book: target ~Rs200 crore for the year; ~2 months in hand; some Rs24 crore orders under execution.
• Average order size Rs3-5 crore; one order Rs8.5 crore recently; big orders not frequent.
• Receivables may extend to 30-45 days with solar projects; baseline historically <14 days.
• Debt and capex: sandwich panel capex Rs20-30 crore; likely funded by internal accruals; term loans possible.