Shri Balaji Valve Components Ltd

AGM highlights

• 15th AGM held on 29 Sep 2026 via VC/OAVM; concluded at 04:00 PM.
• Audited FY2025-26 financial statements adopted with Board reports and Auditors' Report.
• Madhuri Kole to be re-appointed as Director; retires by rotation.
• Vipin Zavar (CZ & Associates LLP) appointed Scrutinizer to oversee voting.
• Statutory Auditors' Report and Secretarial Audit Report had no qualifications.
• Voting results to be disseminated within 2 working days.
• Notice and Annual Report taken as read.
• Quorum present; meeting started 03:11 PM and concluded 04:00 PM.

AGM Details

• AGM held on 29 September 2026 at 03:11 PM via VC/OAVM; concluded 04:00 PM.

Key Resolutions

• Adopt audited financial statements for year ended 31 March 2026, with board and auditors' reports.
• Reappoint non-executive director Madhuri Laxmikant Kole by rotation.

Director Changes

• Madhuri Laxmikant Kole retires by rotation and is proposed for reappointment.

Shri Balaji Valve Components Ltd trading window shall remain closed from October 01, 2026 till 48 hours after the declaration of the Unaudited Financial Results for the half year ended on 30th September, 2026.

Draft annual report

• Approved draft Annual Report for FY2025-26 including Board, Secretarial, and Statutory Auditor reports.

AGM arrangements

• Appointed Scrutinizer for AGM e-voting; fixed 29 Sep 2026 at 3:00 PM.

MBP-1 disclosure

• Noted MBP-1 disclosure by Director Sanker Parmeswaran under Companies Act.

Director re-appointment

• Recommended re-appointment of Madhuri Kole for AGM Members' approval.

Company Secretary status

• Resignation of CS noted; successor not yet appointed; she to continue.

Director details

• Details for re-appointment: DIN 05110326; 2,999,981 shares (36.76%).

Meeting Details

• Meeting scheduled for 27 August 2026; time and venue not disclosed.

Key Agenda Items

• Consider and approve draft Annual Report for FY2025-26, including Board, Secretarial, and Statutory Auditor reports.
• Appoint Scrutinizer M/s CZ & Associates LLP for e-voting and scrutinizer's report for the AGM.
• Fix date, time and venue of the 15th AGM and approve the Draft AGM Notice.
• Appoint director in place of Mrs. Madhuri Laxmikant Kole, retires by rotation and eligible for re-appointment.
• Consider and approve the resignation of the Company Secretary.

Other Notes

• No additional material notes disclosed.

Dematerialisation/rematerialisation status

• No rematerialisation requests were received in the reporting quarter.

FY26 results

• H2 FY26 revenue from operations rose 26% year-on-year to Rs 55.246 crore.
• H2 FY26 EBITDA increased 16.71% year-on-year to Rs 9.21 crore.
• H2 FY26 EBITDA margin was 16.61%; PAT was Rs 5.19 crore, up 20.73%.
• FY26 revenue from operations was Rs 96.81 crore; total income was Rs 98.34 crore.
• FY26 gross profit margin was 18.60%; EBITDA margin was 23.75%; PAT grew 31.59%.

Operations and outlook

• Third plant has been commissioned; plant reorganization should finish in 3-4 weeks.
• Around 10 new machines were added, including CNCs, HMCs, VMCs, and multitasking machines.
• Management expects FY27 topline growth around 20-25% or more.
• EBITDA margins around 17% were said to be sustainable long term.
• Current capacity can support about Rs 140-150 crore annual revenue.

Q&A Highlights

• Analysts asked about raw material inflation; management said costs are passed to customers, but order conversion slows.
• Analysts asked about export exposure; management said exports are 26% of revenue and may rise.
• Analysts asked about capacity constraints; management said working capital is not a constraint, external volatility is.
• Analysts asked about utilization; management said machining runs in three shifts and brownfield expansion is possible.
• Analysts asked about order book; management said current order book is 20-22% of last year's revenue.
• Analysts asked about customer concentration; management said top 5-7 customers contribute about 65% of revenue.
• Analysts asked about geography; management said exports go to 14 countries, including the US, Europe, and Asia.
• Analysts asked about margins on exports; management said margins vary by order and component, not by domestic versus export.
• Analysts asked about capex; management said FY27 capex is about Rs 2-3 crore for machines and inspection equipment.
• Analysts asked about funding and dividends; management said no equity raise is planned and dividends are still under consideration.

Business mix

• Company makes forged, heat-treated, and machined valve components.
• Main products include ball valves, butterfly valves, control valves, and other valve types.
• Key end markets include oil and gas, pharma, petrochemicals, defense, shipbuilding, power, and instrumentation.
• USP cited was integrated forging, heat treatment, machining, and PED/NORSOK certifications.