Ratnaveer Precision Engineering Ltd

AGM details

• AGM held on 26 Sep 2026 at 12:00 IST via VC/OAVM.
• Record date for voting rights: 19 Sep 2026.
• Remote e-voting window: 23 Sep 2026 9:00 a.m. to 25 Sep 2026 5:00 p.m. IST.
• AGM conducted via VC/OAVM per MCA/SEBI circulars.

Key resolutions

• Resolution 1 (Ordinary): Adoption of standalone financial statements.
• Resolution 2 (Ordinary): Adoption of consolidated financial statements.
• Resolution 3 (Ordinary): Reappointment of director by rotation.
• Resolution 4 (Ordinary): Reappointment of statutory auditors for second term.
• Resolution 5 (Ordinary): Remuneration payable to cost auditor for 2026-2027.
• Resolution 6 (Special): Increase borrowing limits to 1,500 crores.
• Resolution 7 (Special): Mortgage, charge and hypothecation on assets.
• Resolution 8 (Special): Appointment of Seema Sanghvi as Whole-time Director.

Voting results

• Resolution 1: Passed; 1 vote against.
• Resolution 2: Passed; 1 against.
• Resolution 3: Passed; 3 votes against (0.0166%).
• Resolution 4: Passed; 2 against (0.0042%).
• Resolution 5: Passed; minimal against.
• Resolution 6: Passed; negligible against.
• Resolution 7: Passed; minimal against.
• Resolution 8: Passed; 84,618 against (0.2354%).

Directors and auditors

• Reappointment by rotation: Vijay Sanghavi.
• Executive director appointment: Seema Sanghavi.
• Statutory auditor: Reappointed for second term.
• Cost auditor remuneration: Approved for 2026-2027.

Other material approvals

• No material related party transactions approved.

Ratnaveer Precision Engineering Limited: Trading window closed from 01 October 2026 up to 48 hours after the declaration of the unaudited financial results for the 2nd Quarter and Half Year ending 30 September 2026; opening 48 hours after the declaration to the Stock Exchanges.

AGM Details

• AGM date/time: 26 September 2026 at 12:00 noon, via VC/OAVM.
• No physical attendance; participation via VC/OAVM as per MCA circulars.
• Remote e-voting from 23-25 September 2026; cut-off date 19 September 2026.
• Quorum: 52 members via VC; total shareholders on cut-off date 62,494.
• Meeting duration: 12:00 p.m. to 12:52 p.m.
• Scrutinizer for e-voting: M/s TNT & Associates.
• Notice and AGM materials circulated; available on company website.

Resolutions Put to Vote

• Ordinary: Adopt standalone financial statements for the year ended 31 March 2026.
• Ordinary: Adopt consolidated financial statements for the year ended 31 March 2026.
• Ordinary: Reappoint director retiring by rotation.
• Ordinary: Re-appoint Statutory Auditors for a second five-year term.
• Ordinary: Ratify remuneration payable to cost auditor for 2026-27.
• Special: Increase borrowing limits from Rs. 900 crore to Rs. 1,500 crore.
• Special: Create mortgage, charge and hypothecation on assets for borrowings.
• Special: Appointment of Seema Sanghavi as Whole-time Director (Executive Director).

Voting Status

• Details of voting results will be submitted separately.
• E-voting used; no voting by show of hands at the meeting.

Directors & Auditors

• Director changes: Vijay Ramanlal Sanghavi reappointed; Seema Sanghavi appointed as Executive Director.
• Statutory Auditor: Re-appointed M/s Pankaj R Shah & Associates for a second five-year term.

Capital raise and share allotment

• Allotted 1,24,99,669 fully paid-up equity shares on a rights basis at ₹264 per share.
• Post-rights paid-up capital rises to ₹83,92,63,500 from ₹71,42,66,810.
• Extinguishment of lapsed rights entitlements and deactivation of ISIN INE05CZ20011.
• Rights issue size amounts to ₹329.99 crore; basis of allotment finalized with stock exchange.

AGM cutoff and date

• Cut-off date for shareholders to participate in the 24th AGM is 19 September 2026.
• AGM date is 26 September 2026.

Financial performance

• Consolidated revenue: ₹1,078.41 crore.
• Consolidated EBITDA: ₹121.88 crore; margin 11.40%.
• PAT: ₹64.31 crore; margin 5.96%.
• EPS: ₹9.43 per share.
• Exports to 31 countries; 219 customers; 89 partners.
• Green energy share of power consumption: 80-90%.
• Net debt to equity: 0.10.
• Current ratio: 1.76.

Business developments & strategy

• CCL facility to be commissioned Nov 2026; topline ₹750 crore in 2 years.
• Top-line target ₹2,500 crore in 3 years.
• Nuts and bolts manufacturing launched FY25; contributing to fastener growth.
• QIP completed: 1,27,93,102 equity shares at ₹145.
• Converted 20,27,972 warrants to equity at ₹143.
• Converted 18,50,000 CCPS to 1,24,772 equity at ₹148.27.
• Post-year: 34,31,446 equity shares issued on warrants (12 May 2026).
• Authorised share capital increased to ₹113 crore.
• Issued equity capital rose to ₹71.43 crore.
• Wholly-owned UAE subsidiary Ratnaveer Stainlessinox LLC; yet to commence operations.
• Strategic focus on electronics-grade materials via CCL and domestic stainless expansion.

Capital structure & fundraising

• Fundraise up to ₹330 crore planned for greenfield and CCL expansion.
• Authorised capital increased to ₹113 crore.
• Equity share capital increased to ₹71.43 crore (post-issue).

Dividends & capital allocation

• Dividend for FY2025-26 not declared.
• Funds planned for greenfield and CCL expansion (₹330 crore).

Governance & board

• 11 Board meetings held in FY2025-26.
• Independent Directors attended separate meeting on 28 Mar 2026.
• Corporate governance compliance certified by secretarial auditor.
• Statutory auditors recommended for reappointment; fees ₹5.50 lakh.

Audit, risk & internal controls

• Statutory auditors: M/s Pankaj R Shah & Associates; 5-year term proposed.
• Secretarial audit flagged minor delays in encumbrance disclosure; board commentary provided.
• Internal controls deemed adequate; internal audit scope widened.

CSR, ESG & sustainability

• CSR expenditure: ₹68.19 million; CSR obligation ₹67.02 million; excess ₹0.12 million carried forward.
• ISO 14001 and renewable energy initiatives; LTIFR zero; extensive waste minimization.

Subsidiaries & group

• Ratnaveer Stainlessinox LLC (UAE) is wholly owned; yet to commence business.

Risks & outlook

• Raw material price volatility; multi-year vendor agreements advised.
• Export/geopolitical risks; diversified product mix mitigates concentration risk.
• Sustainability/CBAM considerations; investments in eco-friendly tech to future-proof.