Board meeting outcome: Q2/H1 results, CFO transition, Deputy MD, new independent director, authorised capital up

Board meeting held on Saturday, October 03, 2026.

Sat 3 Oct 2026

Q2 Revenue from Operations

Rs 17,135.00 lakhs

Q2 Net Profit

Rs 5,536.71 lakhs

H1 Net Profit

Rs 9,198.87 lakhs

H1 Revenue from Operations

Rs 28,671.73 lakhs

Q2 Basic EPS

Rs 25.58

The board of directors met on Saturday, October 03, 2026 and, among other matters, considered and approved the following.

Financial results for the quarter and half year ended September 30, 2026 The board considered and approved the unaudited financial results of the company for the quarter and half year ended September 30, 2026, as recommended by the Audit Committee. The limited review report on the unaudited quarterly and year-to-date standalone financial results was issued by M/s K.N. Gutgutia & Co., Chartered Accountants, the statutory auditors.

For the quarter ended September 30, 2026, revenue from operations was Rs 17,135.00 lakhs and net profit for the period was Rs 5,536.71 lakhs. Basic earnings per share for the quarter were Rs 25.58 (on shares of face value Rs 2 each, not annualised). In the quarter ended September 30, 2025, revenue from operations was Rs 6,919.03 lakhs.

For the half year ended September 30, 2026, revenue from operations was Rs 28,671.73 lakhs, net profit for the period was Rs 9,198.87 lakhs, and basic earnings per share were Rs 42.50 (not annualised).

Change of Chief Financial Officer and appointment of Deputy Managing Director

• Mr. Shailendra Jhalani has tendered his resignation from the position of Chief Financial Officer of the company with effect from October 03, 2026, consequent to his proposed appointment as a Whole-time Director with effect from October 04, 2026.
• Based on the recommendation of the Nomination and Remuneration Committee, the board approved his appointment as an Additional Director with effect from October 04, 2026, holding office until the date of the next General Meeting or for a period of three months from the date of appointment, whichever is earlier.
• The board also approved his appointment as a Whole-time Director of the company, designated as Deputy Managing Director and Key Managerial Personnel, for a period of three consecutive years with effect from October 04, 2026 to October 03, 2029, subject to the approval of members.

Appointment of a Non-Executive Independent Director

Based on the recommendation of the Nomination and Remuneration Committee, the board approved the appointment of Mr. Mool Chand Gauba as an Additional Director of the company in the category of Non-Executive Independent Director, holding office until the date of the next General Meeting or for a period of three months from the date of appointment, whichever is earlier. The board further approved his appointment as a Non-Executive Independent Director for a first term of 5 (five) consecutive years commencing from October 03, 2026 to October 02, 2031, subject to the approval of members.

Increase in the existing Authorised Share Capital

The existing authorised share capital of the company increased from Rs. 108,50,00,000 (Rupees One Hundred Eight Crore Fifty Lakh only), divided into 5,50,00,000 equity shares of Rs. 2 each and 9,75,00,000 preference shares of Rs. 10 each, to Rs. 121,00,00,000 (Rupees One Hundred Twenty-one Crore only), divided into 11,75,00,000 equity shares of Rs. 2 each and 9,75,00,000 preference shares of Rs. 10 each, by alteration of the Capital Clause of the Memorandum of Association, subject to the approval of the shareholders and any regulatory or statutory approvals, as may be required under applicable laws. The Capital Clause (Clause V) of the Memorandum of Association is to be substituted and read accordingly. An increase in authorised share capital changes the ceiling up to which shares can be issued; it is not by itself an issue of shares.

Other items approved or noted

• Mr. Deepak Kejriwal (Managing Director), Mr. Shailendra Jhalani (Whole-time Director, designated as Deputy Managing Director) and Ms. Neha Kejriwal (Company Secretary & Compliance Officer) were authorised as Key Managerial Personnel for determining the materiality of an event or information.
• Consequent to the resignation of Mr. Shailendra Jhalani as Chief Financial Officer, the board identified and designated four officials as Senior Management Personnel of the company: Ms. Neha Kejriwal (Company Secretary & Compliance Officer), Mr. M. Rajan (Senior Vice President-Plant, Production Head), Mr. Ravi Singh (Vice President-Marketing, Marketing Head) and Mr. Vijay Vishal Sharma (Asst. General Manager-Legal, Legal Head).
• The company is evaluating to strengthen the operations of its Conductor Unit-Gwalior, with a view to optimising the utilisation of the existing facilities, augmenting operational capabilities and leveraging emerging business opportunities in the conductor segment.

What this update contains

The announcement covers the quarterly and half-yearly results, board-level changes in senior management, the appointment of an independent director, the authorisation of Key Managerial Personnel for materiality decisions, and the increase in authorised share capital. The details required under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with the SEBI Master Circular dated January 30, 2026, are enclosed with the intimation.

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