Precision Electronics Ltd

Precision Electronics Limited: Trading Window closed from Oct 1, 2026 until completion of 48 hours after the unaudited financial results for quarter and half year ending Sep 30, 2026 are announced to the Stock Exchange

AGM details

• Date/time/mode: Sept 16, 2026 at 11:00 IST, VC/OAVM.
• Record date: Sept 9, 2026; on-record shareholders: 13,488.
• Attendees via VC: promoters 6, public 61.
• Five resolutions were put to vote; all passed.

Resolutions

• Resolution 1: Adoption of audited financial statements; passed with 52 dissent.
• Resolution 2: Re-appointment of Ashok Kumar Kanodia; retired by rotation; passed with 102 dissent.
• Resolution 3: Approve material related party transaction with Victora Stock-Invest Private Limited; passed with 102 dissent.
• Resolution 4: Approve material related party transaction with Victura Technologies Private Limited; passed with 102 dissent.
• Resolution 5: Special: Sale/disposal of Noida land and building; passed with 102 dissent.

Dividend

• No dividend proposed or declared.

Directors

• Director changes: Ashok Kumar Kanodia re-appointed; retires by rotation.

Auditors

• No auditor-related items disclosed.

Related party transactions

• Material related party transactions approved with Victora Stock-Invest Private Limited and Victura Technologies Private Limited.

Other approvals

• Special resolution for sale/disposal of Noida land and building approved.

AGM Details

• Date, time, and mode: Sept 16, 2026, 11:00 A.M. IST, VC/OAVM; concluded 12:10 P.M.
• Quorum: 67 members present.
• Remote e-voting window: Sept 12–15, 2026; 9:00 A.M.–5:00 P.M.
• Documents available for electronic inspection on company website.
• Scrutinizer appointed: Yogesh Saluja.
• AGM deemed conducted at registered office.
• Meeting concluded at 12:10 P.M.

Key Resolutions

• Adopt audited financial statements for year ended Mar 31, 2026.
• Re-appoint Ashok Kumar Kanodia as director by rotation.
• Approve material related party transaction with Victora Stock-Invest Private Limited.
• Approve material related party transaction with Victura Technologies Private Limited (formerly Victora Auto Private Limited).
• Special resolution to sell Noida land and building.

Voting Results

• Results of remote and on-meeting voting to be announced after Scrutinizer's Report.
• Results to be placed on company website and NSDL/BSE.

Director Changes

• Re-appointment by rotation of Ashok Kumar Kanodia as director.

Auditors

• Statutory Auditor attended; no appointment changes disclosed.

Material Related Party Transactions

• Related party transaction with Victora Stock-Invest Private Limited approved.
• Related party transaction with Victura Technologies Private Limited approved.

CTO for Ballabhgarh facility

• CTO granted by Haryana State Pollution Control Board for Ballabhgarh facility.
• CTO valid through December 31, 2030, under Green Category.
• Facility located at Plot Nos. 1142-1145, Sector-58, Faridabad, Haryana.
• Enables multi-product manufacturing at Ballabhgarh facility.
• No withdrawal, suspension, or penalties reported regarding the CTO.

AGM notice and KYC updates

• AGM scheduled for Sept 16, 2026 at 11:00 IST via VC/OAVM.
• Letters sent to shareholders without registered emails with web-links to Notice and Annual Report.
• KYC updation reminder under SEBI circular to update PAN, address, mobile, bank details, and nomination.
• Payment on physical folios to be electronic if KYC details are incomplete, per SEBI circular.
• Queries may be directed to Company Secretary at cs@pel-india.in.

Book closure details

• Book closure: Sep 10, 2026 to Sep 16, 2026, inclusive
• Purpose: 47th AGM to be held on Sep 16, 2026
• Security: Equity shares; BSE code 517258; ISIN INE143C01024
• Event date: AGM on Sep 16, 2026

Financial performance

• Revenue from operations: ₹7,901.65 lakh for FY2025-26.
• Total income: ₹7,973.79 lakh for FY2025-26.
• Profit before tax: ₹143.51 lakh.
• Tax expense: ₹82.62 lakh.
• Net profit after tax: ₹60.90 lakh.
• EBITDA proxy: ₹733.05 lakh.
• EPS: ₹0.44 (basic and diluted).
• Cash flow from operations: ₹401.59 lakh.
• No dividend declared for the year.
• Employees: 162 on 31 March 2026.

Operations & capacity

• Single reportable segment: Defence; focus on telescopic masts and related systems.
• Ballabhgarh facility enables capacity expansion; mast capacity to 4,000/year from 1,200.
• Ballabhgarh site: ~8,000 sq m facility with 2,100 sq m mast hall.
• Operations gradually shifted from Noida to Ballabhgarh to improve efficiency.
• Oversight milestone: overseas defence customer approved Telescopic Mast Systems.

Geography & revenue mix

• Domestic revenue: ₹6,115.72 lakh.
• Export revenue: ₹1,730.92 lakh.
• Total FY2025-26 revenue by geography: ₹7,846.64 lakh.

Capital structure & liquidity

• Total borrowings: ₹5,828.67 lakh; current ₹2,801.49 lakh; lease liabilities ₹1,300.70.
• Net debt: ₹5,819.16 lakh; total equity: ₹1,480.26 lakh.
• Debt to equity: 1.73 (pre) and 3.93 (post).
• Current assets ₹5,301.08 lakh; current liabilities ₹5,181.72 lakh.
• Cash & cash equivalents: ₹9.51 lakh.

Governance & controls

• Statutory auditors: Nemani Garg Agarwal & Co; unmodified opinion.
• Secretarial auditors: Yogesh Saluja & Associates; Annexures B and C.
• Board: 6 directors; Harbir Singh Banga resigned 11-11-2025; Amitbir Singh Banga appointed 11-11-2025.
• CFO appointment: Manmohan Singh; Company Secretary: Punit Bajaj.
• Board meetings held: 5 in FY2025-26.

Related party transactions & governance

• VSIPL: Related party unsecured loan up to ₹30 crore; period from AGM to next AGM.
• VTPL: Related party transactions up to ₹25 crore; ongoing to next AGM.
• FY2025-26 VSIPL transactions: ₹9.70 crore; terms deemed arm's length.
• Committee oversight: Audit Committee reviews all RPTs; related party cannot vote.

Outlook & risks

• Defence indigenisation and rising government spending support growth.
• Growing export opportunities for Indian defence electronics and tactical infrastructure.
• Risks include procurement delays, supply chain constraints, and inflationary pressures.

AGM Details

• AGM on Wednesday, September 16, 2026 at 11:00 a.m. IST via VC/OAVM.
• Cut-off voting entitlements: September 9, 2026.
• Register of Members and share transfer books closed Sept 10-16, 2026.

Ordinary Business

• Adopt audited financial statements for year ended March 31, 2026.
• Re-appoint Ashok Kumar Kanodia as Director by rotation.
• Voting results for ordinary items to be announced at AGM.

VSIPL Related Party Transactions

• Approve unsecured loan transactions with VSIPL up to 30 crore.
• Terms to be in ordinary course and at arm’s length.
• Board/Committee to finalize drawdown and terms.

VTPL Related Party Transactions

• Approve VTPL related party transactions up to 25 crore.
• Transactions include goods/services purchases and asset transfers.
• Aggregate value equals 31.65% of VTPL turnover.
• Arm’s length and ordinary course; no related party vote.
• Disclosures to be placed before Audit Committee.

Sale of Noida Land and Building

• Special resolution to sell Noida land and building.
• Sale to non-related party; price not below independent valuation.
• Proceeds to be used for working capital, capex and debt reduction.
• Board to finalize terms; public-shareholder approval required.
• Enabling resolution; terms determined by Board.
• No directors or relatives have interest in the Noida sale.

Director Changes

• Executive Chairman Ashok Kumar Kanodia to be re-appointed by rotation.
• Annexure provides tenure details.