Studds Accessories Ltd

Studds – Special Window

• Special Window opened Feb 5, 2026 to Feb 4, 2027 for transfer and dematerialisation of physical securities.
• Notice published in Financial Express (English) and Jansatta (Hindi) on Aug 24, 2026.

Rays of Belief – RHP Corrigendum

• Corrigendum adds Giriraj Stock Broking as an additional Syndicate Member; RHP updated.
• In-principle listing approvals from BSE/NSE received; listing expected on main boards.

Urja Global – AGM & Dividend

• 34th AGM via VC/OAV on Sept 22, 2026; Integrated Annual Report for FY2025-26 to be sent electronically.
• Board recommends final dividend of Rs 1.50 per share (75%); record date Sept 11, 2026.

IRM Energy – AGM

• 11th AGM via VC/OAV on Sept 29, 2026; NSDL remote e-voting; cut-off Sept 8, 2026.
• Notice and Integrated Annual Report available on company site and stock exchanges.

Dhampure Speciality Sugars – AGM

• 34th AGM; remote e-voting window Sep 12, 2026 9:00 AM to Sep 14, 2026 5:00 PM.
• Cut-off date Sep 8, 2026; Scrutinizer Uma Verma appointed for remote voting and poll.

Financial Performance

• Q1 FY27 consolidated revenue: INR169.7 crores
• EBITDA: INR19.6 crores; margin 11.5%
• PAT: INR12.3 crores; margin 7.2%
• Two-wheeler helmet/boxes volume: 1.95 million; capacity utilization 81%
• Helmet ASP: INR845 vs INR802 in Q1 FY26

Raw Materials and Pricing

• Styrene price spike; average from INR135 to INR225 at peak
• Direct styrene material share ~36%; indirect ~15%
• Q1 price realization ~5%; full ~9% from Q2 onward
• Raw-material prices moderating from July

Capacity, Products and Innovations

• 5 million helmets annual capacity addition; operational Oct/Sept
• Decathlon production expected to commence from Oct
• Italian ops to become Europe platform; just-in-time supply
• Bluetooth and riding jacket products progressing; first mesh Bluetooth unit in Q3 FY27

International Expansion

• Italy platform enables near-market delivery; deepens Europe exposure
• Italy, Germany, France to be dealer direct; Spain/Holland/Portugal continue with distributors
• Italy revenues: EUR100k–125k in FY27; ~EUR1 million in FY28

Q&A Highlights

• Exports at 21% of Q1 revenue; target nearer 30%
• Exports EBITDA for SMK ~30–35%; domestic ~16–18% currently
• Italy direct model profits expected from year 3; surplus EBITDA 10–12% for Italian subsidiary
• Price hikes: 5% realized in GT/OEM; 8–9% in Q2; 9% base FY26; further pass-through in several channels
• FY27–FY28: standalone volume 13–14%; price 3–4%; revenue 17–18% growth

Capex and Guidance Outlook

• Total capex till 30 Jun: INR76 crores; INR10 crores vendor advances
• FY28 capex plan: INR31 crores; second-phase construction
• Italy expansion losses: FY27 INR2–2.5 crores; FY28 around INR2 crores
• FY28 standalone targets: volume 13–14%; price 3–4%; revenue 17–18%

AGM & annual report access

• 44th AGM on Sept 5, 2026 at 4:00 PM IST via VC/OAVM.
• Annual Report 2025-26 web-link shared for non-email holders; cut-off Aug 7, 2026.
• Notice and report available on studds.com; QR code provided.

Dividend declaration

• Final dividend Rs 3 per equity share (60%).
• Record date: Aug 29, 2026.
• Dividend payable within 30 days after AGM, subject to approval.

KYC / compliance guidance

• TDS-related documents due by Aug 26, 2026.
• SEBI circular requires updating PAN, address, bank details for physical holders.
• KYC update and email registration encouraged for online services.

agm_details

• 44th AGM scheduled for 5 September 2026 at 4:00 PM IST.
• Meeting to be held via Video Conferencing / Other Audio-Visual Means.
• Record date for entitlement and voting: 29 August 2026.
• Remote e-voting: Sept 2–4, 2026; AGM e-voting during meeting.
• No proxies allowed due to VC/OAVM arrangement.

key_resolutions

• Ordinary: adopt standalone and consolidated financial statements for FY2025-26.
• Ordinary: declare final dividend of Rs 3 per equity share.
• Ordinary: re-appoint Ms. Shilpa Arora as director (Whole-time).
• Special: approve Studds ESOP Scheme 2026 for employees.
• Special: grant ESOPs to employees of subsidiary companies.

voting_results

• All resolutions proposed by the Board passed with requisite shareholder approval.
• No specific dissent/detailed vote percentages disclosed in the notice.

dividend

• Dividend per share: Rs 3; total payout approximately Rs 118.06 million.
• Record date for dividend: 29 August 2026.
• Dividend expected to be paid within 30 days of AGM approval.

director_changes

• Ms Shilpa Arora to be re-appointed as Whole-time Director for a five-year term.
• Board composition: six directors; three independent including one woman.
• CFO transition: Mr. Manish Mehta to Senior Manager; Mr. Bharat Goyal appointed CFO from 01-Jul-2026.

auditor_appointments

• Statutory auditors: Rajan Chhabra & Co., appointed for five-year term to 2028.
• Secretarial auditors: Chandrasekaran Associates, 5-year term (2025–2030).
• Internal auditors: Deloitte; new engagement for FY2026-27 with Deloitte Haskins & Sells LLP.
• Auditors’ consolidated fees about Rs 4.71 million.

material_related_party_transactions

• Related parties: Bikerz US Inc. (WOS) with Rs 47.24 million sale of goods; Rs 3.10 million services; Rs 31.97 million receivables.
• Investment in Bikerz US Inc. increased to Rs 43.06 million during FY2025-26.
• Remuneration and dividends to related parties disclosed; transactions were in ordinary course and arm's length.

other_material_approvals

• ESOP Scheme 2026 details include 2,97,381 options; 0.75% post-issue equity cap.
• ESOPs to be granted directly by the Company; subsidiary participation allowed within set limits.
• Regulatory compliance: ESOP framework under SEBI SBEB Regulations and Ind AS 102.

Meeting Details

• Date of call: 10 August 2026; time undisclosed.
• Type and mode: group virtual earnings conference call.
• Organiser: Studds Accessories Limited.
• Purpose: discuss unaudited standalone and consolidated results for quarter ended June 30, 2026.
• Recording: audio recording available on the company website.
• Key participant: Company Secretary and Compliance Officer.

Dematerialisation processing status

• Securities received for dematerialisation during the quarter were processed and listed on exchanges.
• Certificates were mutilated and cancelled after verification; depository name substituted as registered owner within the prescribed timelines.

Leadership changes

• Manish Mehta steps down as CFO and KMP; becomes VP Taxation & Compliance from July 1, 2026.

Appointment

• Bharat Goyal appointed CFO and KMP, effective July 1, 2026.

Board approvals

• Board approved appointment at May 23, 2026 meeting.

Regulatory disclosure

• Regulatory disclosure under SEBI LODR filed; revised KMPs for materiality.

Governance rationale

• Restructuring supports scaling operations across Studds and SMK brands.

Key management lineup

• MD: Sidhartha Bhushan Khurana; WTD: Shilpa Arora; CS: Asha Mittal.