Notice of 79th Annual General Meeting of the Company
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Hardcastle & Waud Manufacturing Company Ltd has called its 79th AGM for September 30, 2025 at 10:00 a.m. at Kalyan (East), Thane. Shareholders will consider adopting FY2024-25 audited financials, where revenue from operations stood at Rs 588.93 lakhs and net profit at Rs 128.69 lakhs, down from Rs 257.83 lakhs in FY2023-24. Q1 FY2025-26 (unaudited) showed revenue of Rs 194.32 lakhs and net profit of Rs 77.07 lakhs. Key special business items include re-appointment of Mr Banwari Lal Jatia (age 82) as Managing Director for 3 more years from April 1, 2026 at a monthly salary of Rs 3.75 lakh, appointment of Mr Manekchand Panda (age 73) as Independent Director for 5 years from August 12, 2025, and appointment of M/s SKJP & Associates as Secretarial Auditors for FY2025-26 through FY2029-30. Members will also vote on approval for related party transactions with promoter group entities Hardcastle Petrofer Pvt Ltd (up to Rs 100 crore) and Hawco Petrofer LLP (up to Rs 50 crore). The promoter group, led by Mr Banwari Lal Jatia, holds 73.61% of the company's equity.
Routine AGM notice, but the sharp ~50% YoY decline in net profit in FY25 and re-appointment of an 82-year-old MD may invite shareholder queries. Related party transaction approvals with promoter group entities are a standard governance requirement and may draw minority shareholder attention.