Siyaram Recycling Industries Ltd

Order details

• Awarding entity: Green Metals FZCO, Dubai, UAE
• Nature/scope: Brass billets; fixed-cost order
• Total value: Rs 40,650,695.91
• Execution deadline: Within 30 days
• Entity type: International awarding entity
• Related-party status: Not a related-party transaction; no promoter interest
• Material impact: Not disclosed

MD Reappointment

• Reappointment of Bhavesh Ramgopal Maheshwari as Managing Director for 24 Aug 2026–23 Aug 2031.
• Term includes retirement by rotation; not debarred from SEBI or other authorities.
• Reason: expiry of the current MD term.
• Disclosure: Bhavesh is son of Ramgopal and Madhu; husband of Megha.
• Not debarred from holding office by SEBI or any authority.

WTD Reappointment

• Reappointment of Ramgopal Ochhavlal Maheshwari as Whole-time Director for 24 Aug 2026–23 Aug 2031.
• Not liable to retire by rotation; subject to shareholder approval.
• Reason: expiry of the existing term.
• Disclosure: Ramgopal is husband of Madhu and father of Bhavesh.
• Not debarred from holding office by SEBI or any authority.

AGM details

• Date/time: 30 September 2026, 2:00 PM to 2:30 PM.
• Mode: physical meeting with remote e-voting and ballot facility.
• Record date: 23 September 2026.
• Postal ballot last date: 30 September 2026.
• Remote e-voting window: 27 September 2026 to 29 September 2026.

Key resolutions

• Resolution 1 (Ordinary): Adopt audited standalone financial statements for the year.
• Resolution 2 (Ordinary): Re-appoint Madhu Ramgopal Maheshwari as director by rotation.
• Resolution 3 (Ordinary): Approve remuneration of the cost auditor for 2026-27.
• Resolution 4 (Special): Re-appoint Ramgopal Ochhavlal Maheshwari as Whole-time Director and Chairman.
• Resolution 5 (Special): Re-appoint Bhavesh Ramgopal Maheshwari as Managing Director.

Voting outcomes

• Resolution 1: Passed with near-unanimous support (approx. 99.97% in favour).
• Resolution 2: Passed with near-unanimous support (approx. 99.97% in favour).
• Resolution 3: Passed with near-unanimous support (approx. 99.97% in favour).
• Resolution 4: Passed with near-unanimous support (approx. 99.97% in favour).
• Resolution 5: Passed with near-unanimous support (approx. 99.97% in favour).

Director changes

• Re-appointment by rotation of a director.
• Re-appointment of a director as Whole-time Director and Chairman.
• Re-appointment of the Managing Director.

Auditors and related approvals

• Cost Auditor remuneration approved for fiscal year 2026-27.

Related party transactions / other

• No material related party transactions disclosed.

AGM details

• Date and time: 30 September 2026, 2:00 PM; Mode: Physical; remote e-voting available.

Resolutions – Ordinary

• Adopt audited standalone financial statements for year ended 31 March 2026; board and auditors' report.

Director changes

• Re-appointment of Mrs. Madhu Ramgopal Maheshwari as director liable to retire by rotation.

Resolutions – Special

• Re-appointment of Ramgopal Ochhavlal Maheshwari as Whole Time Director and Chairman.
• Re-appointment of Bhavesh Ramgopal Maheshwari as Managing Director.

Voting status

• Results to be announced within 48 hours; posted on company and BSE websites.

Dividend

• No dividend proposed or declared.

Auditors

• Remuneration of Cost Auditor approved for FY 2026-27.

Material Related Party Transactions

• No material RPTs disclosed in this filing.

Other material approvals

• No ESOPs, mergers, borrowings, or charter amendments disclosed.

Award recognition

• Siyaram Recycling Industries Limited received the 'Excellence in Brass Recycling' Award at the International Dazzling Awards.
• Award ceremony held on 27 September 2026 in New Delhi.
• Managing Director Bhavesh Ramgopal Maheshwari accepted the award on behalf of the company.
• Company thanked organisers and remains committed to delivering value to stakeholders.

Siyaram Recycling Industries Limited – Trading Window closed from Oct 01, 2026 till 48 hours after the announcement of the Un-audited Financial Results for the Half year ended Sep 30, 2026

Order details

• Awarding entity: Metal Scrap India.
• Nature and scope: Brass Ingots; fixed-cost contract.
• Contract value: Rs 2,18,94,900.
• Domestic entity: Metal Scrap India.
• Execution timeline: within 7 days.
• Related party: No; promoter group interest: No.

AGM Details

• AGM at the registered office; mode: physical.
• Notice published for the meeting.

EVoting Information

• E-Voting information to accompany the AGM notice.

AGM Details

• AGM date/time: 30 September 2026, 2:00 PM IST.
• Mode: physical meeting at registered office with NSDL e-voting facility.
• Record date for voting eligibility: 23 September 2026.
• Remote e-voting window: 27 September 2026 09:00 to 29 September 2026 17:00 IST.
• Notice and annual report available on the company website.

Key Resolutions

• Item 1: Adoption of standalone financial statements for year ended March 31, 2026.
• Item 2: Re-appoint Mrs. Madhu Ramgopal Maheshwari as director liable to retire by rotation.
• Item 3: Cost Auditor remuneration approval for FY 2026-27.
• Item 4: Re-appoint Ramgopal Ochhavlal Maheshwari as Whole-Time Director & Chairman for 5 years; ₹1.20 crore.
• Item 5: Re-appoint Bhavesh Ramgopal Maheshwari as Managing Director for 5 years; ₹1.20 crore.

Voting Results

• Voting results not disclosed in this filing.

Dividend

• Dividend: No dividend recommended for FY 2025-26.

Director Changes

• Resigned: Jaimish Govindbhai Patel, Independent Director, effective 1 Apr 2025.
• Appointed: Bhuvnesh Kumar as Independent Director from 4 Apr 2025.
• Resignation: Kesha Ravi Shah, Company Secretary & Compliance Officer, effective 31 Jul 2026.
• Appointment: Samoil Akilbhai Lokhandwala as Company Secretary & Compliance Officer from 01 Aug 2026.

Auditor Appointments

• Statutory Auditor: Kamlesh Rathod & Associates; term until 2027.
• Internal Auditor: CA Prafulla Rani Chode appointed for 2025-26; continuing 2026-27.
• Cost Auditor: Ankit Kushal & Associates appointed for FY 2026-27; remuneration ₹60,000; ratification at AGM.
• Secretarial Auditor: Murtuza Mandorwala & Associates; five-year assignment 2025-2030.

Material Related Party Transactions

• Related party transactions include director remuneration and intercompany loans.
• Counterparties include Dwarkadhish Venture Private Ltd, Dwarkesh Alloys Pvt Ltd, Simpex Overseas Pvt Ltd.

Other Material Approvals

• Postal ballot to raise authorized share capital to ₹45 crore via 2 crore new shares.
• Postal ballot window: 31 July 2026 to 29 August 2026.

Financial snapshot

• Revenue from operations: ₹36,169.10 lakh; down from ₹51,155.84 lakh.
• Total income: ₹36,269.99 lakh; down from ₹51,379.19 lakh.
• PBT ₹578.20 lakh; PAT ₹379.20 lakh; EPS ₹1.74.
• Total expenses ₹35,691.79 lakh; cost discipline evident vs prior year.
• Dividend declared: none.
• Cash and cash equivalents: ₹18.26 lakh.
• Net cash from operating activities: ₹-2,828.66 lakh.

Segment performance

• Domestic revenue ₹35,261.29 lakh; Export ₹907.81 lakh; total ₹36,169.10 lakh.
• Domestic segment profit ₹2,693.06 lakh; Export ₹258.41 lakh; total ₹2,951.47 lakh.
• Capital employed: Domestic ₹5,094.71 lakh; Export ₹47.35 lakh; Unallocated ₹14,556.25 lakh.

Capital structure & holdings

• Borrowings: current ₹9,868.36 lakh; non-current ₹1,554.57 lakh; total ₹11,422.93 lakh.
• Gearing 0.47; ROE 0.03.
• Issued share capital ₹2,178.92 lakh; unchanged this year.
• Authorized capital ₹25 crore; post-year-end proposed to ₹45 crore via postal ballot.
• Dwarkadhish Venture Private Limited holds 46.90%.

Governance & risk

• KMP changes: Kesha Shah resigned July 31, 2026; Samoil Lokhandwala appointed Aug 1, 2026.
• Statutory auditors: Kamlesh Rathod & Associates; Secretarial auditor: Murtuza Mandorwala; Internal auditor: Prafulla Rani Chode.
• Secretarial audit flagged insider-trading Regs 3(5)/(6); corrective actions implemented.
• SME listing: Corporate Governance Report not applicable.

CSR & sustainability

• CSR policy in place; CSR Committee constituted.
• CSR spend for FY26 ₹28.00 lakh; 2% average net profit ₹27.54 lakh.
• Ongoing CSR project: Promoting healthcare and sanitation via Jivan Jyot Foundation.
• CSR provision for FY2025-26 ₹24.49 lakh; total obligation ₹27.54 lakh.
• Total CSR spent: ₹28.00 lakh; unspent ₹0.46 lakh.

Outlook & risks

• Industry benefits from circular economy and domestic demand.
• Risks: metal price volatility, currency fluctuations, regulatory changes.