Simplex Castings Limited Conducts EGM for Preferential Allotment of Equity Shares

Simplex Castings Limited successfully conducted its Extraordinary General Meeting (EGM) on March 2, 2026, through video conferencing to address crucial corporate matters. The meeting, held from 2:00 PM to 2:25 PM IST, focused on the preferential allotment of equity shares as outlined in the notice dated February 7, 2026. Meeting Leadership and Attendance The EGM was chaired by Ketan Moolchand Shah (DIN: 00312343), Whole Time Director and Chairman of the Board. The meeting demonstrated strong leadership presence with comprehensive attendance from the board and key personnel. Position Name Role Chairman: Ketan Moolkhand Shah Whole Time Director Managing Director: Sangeeta Ketan Shah Managing Director Executive Director: Sajal Kumar Ghosh Executive Director Independent Director: Champak Kalyanji Dedhia Committee Chairperson Independent Director: Indu Nagar Board Member Independent Director: Shailesh Jain Board Member CFO: Avinash Hariharno Chief Financial Officer Company Secretary: Sakshi Jain Compliance Officer Key Business Resolution The primary agenda item addressed during the EGM was the creation, offering, issuance, and allotment of equity shares on a preferential basis. This special resolution represents a significant corporate action for the company's capital structure. Resolution Details Specifications Resolution Type: Special Resolution Business Item: Preferential Allotment of Equity Shares Notice Date: February 7, 2026 Meeting Duration: 25 minutes Digital Participation and Voting Process The company ensured comprehensive shareholder participation through modern digital infrastructure. Remote e-voting facilities were provided through CDSL (Central Depository Services Limited) before the meeting, allowing shareholders to cast their votes electronically. The meeting also offered e-voting during the session for members who had not participated in remote voting. Meena Naidu from M/s Meena Naidu & Associates, Practicing Company Secretaries, was appointed as the scrutinizer to ensure fair and transparent voting processes. The statutory auditor Harsh Jain from Harsh Jain & Associates was also present during the proceedings. Corporate Governance and Compliance The EGM proceedings were conducted in full compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company maintained transparency by providing electronic notices to registered shareholders and ensuring proper documentation of all proceedings. The Chairman informed attendees that consolidated voting results would be disseminated to BSE and made available on CDSL and the company's website within 48 hours of the meeting's conclusion, demonstrating the company's commitment to regulatory compliance and shareholder transparency. Simplex Castings Limited announced its comprehensive financial results for the nine months ended December 31, 2025 (9MFY26), reporting exceptional growth driven by strong execution and robust order pipeline. The precision metallurgy company demonstrated significant improvement across key financial metrics while maintaining its strategic focus on infrastructure, railways, and energy sectors. Outstanding Nine-Month Performance The company delivered remarkable financial performance for 9MFY26, with revenue reaching ₹148.14 crores compared to ₹104.79 crores in the corresponding period last year. This represents a substantial year-on-year growth of 41.40%, reflecting strong demand across core business verticals. Financial Metrics: 9MFY26 9MFY25 YoY Growth (%) Revenue: ₹148.14 crores ₹104.79 crores 41.40% Total Income: ₹150.15 crores ₹105.64 crores 42.12% EBITDA: ₹26.51 crores ₹23.24 crores 14.07% PBT: ₹20.15 crores ₹14.66 crores 37.45% PAT: ₹15.08 crores ₹11.55 crores 30.56% EPS: ₹20.05 ₹16.04 Improved The company's EBITDA margin stood at 17.90% for 9MFY26 compared to 22.17% in the previous year, while PAT margin was recorded at 10.18% versus 11.02% in 9MFY25. Despite margin compression, the absolute profit growth demonstrates strong operational leverage. Strategic Growth Initiatives and Market Position According to Mr. Ketan Shah, Promoter, Chairman and Executive Director, the company remains on track to achieve its stated guidance for FY26. The management highlighted strong demand visibility across core verticals including steel, railways, and thermal power plant segments. Recent achievements include securing high-value trial orders exceeding 500MT from BHEL and other prominent clients like Mazgaon Docks and Gaja Engineering. Strategic Highlights: Details Trial Orders Secured: More than 500MT from BHEL and others Key Clients: Mazgaon Docks, Gaja Engineering Market Position: Leading precision metallurgy company Historical Railway Market Share: More than 60% at peak The company successfully completed a fund raising initiative, providing financial flexibility to pursue the next phase of growth. This includes plans to re-enter the legacy railway bogies business, where Simplex historically commanded more than 60% market share at its peak. Fund Raising and Corporate Actions The Board approved a significant fund raising proposal to issue equity shares worth up to ₹50.15 crores through preferential allotment. The company plans to issue up to 1,015,182 equity shares of face value ₹10 each to non-promoter investors, with major investors including India Emerging Giants Fund Limited and Surya Jagdishchand Gorji. Fund Raising Details: Specifications Total Fund Target: Up to ₹50.15 crores Number of Shares: Up to 1,015,182 equity shares Face Value: ₹10 per share Type of Issue: Preferential Issue Post-Issue Shareholding: 11.55% for all allottees combined An Extraordinary General Meeting has been scheduled for March 2, 2026, to be conducted through video conferencing to seek shareholders' approval for the fund raising proposal and other Board-approved matters. Operational Excellence and Financial Discipline The management emphasized its commitment to strengthening financial discipline and internal processes. Key initiatives include balance sheet deleveraging, faster cash conversion, and operational streamlining. The company's empanelment on Invoicemart (TReDS) represents a strategic step toward quicker receivable realization at significantly lower cost of funds while avoiding incremental debt. Operational Initiatives: Focus Areas Financial Strategy: Balance sheet deleveraging Cash Management: Faster conversion cycles TReDS Platform: Invoicemart empanelment Cost Optimization: Lower funding costs The company has scheduled a conference call for February 10, 2026, at 4:00 PM IST, led by Arihant Capital, to discuss the financial results and strategic outlook with investors and analysts. We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. 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