Submission of Annual Report of the Company for the Financial Year 2024-2025
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Hardcastle & Waud Manufacturing Company Ltd has submitted its 79th Annual Report for FY 2024-25 to BSE under SEBI LODR Regulation 34(1). The 79th AGM is scheduled for Tuesday, 30th September 2025 at 10:00 a.m. at Netivali, Kalyan (E). Key AGM items include adoption of FY25 audited financials, re-appointment of Mr Piyushkumar Mehta (Non-Executive Director) by rotation, re-appointment of 82-year-old Managing Director Mr Banwari Lal Jatia for 3 years w.e.f. 1 April 2026 at a monthly salary of Rs 3,75,000, appointment of Mr Manekchand Panda as Independent Director for 5 years, appointment of M/s SKJP & Associates as Secretarial Auditors for FY 2025-26 to FY 2029-30, and approval of related party transactions with promoter group entities Hardcastle Petrofer Pvt Ltd (up to Rs 100 crores) and Hawco Petrofer LLP (up to Rs 50 crores). Financial highlights: FY25 revenue from operations stood at Rs 588.93 lakhs (vs Rs 541.25 lakhs in FY24), while net profit fell sharply to Rs 128.69 lakhs from Rs 257.83 lakhs in FY24. Q1 FY26 (unaudited) showed revenue of Rs 194.32 lakhs and net profit of Rs 77.07 lakhs. The promoter group holds 73.61% of equity capital.
Routine annual compliance filing, but shareholders should note the sharp ~50% drop in FY25 net profit YoY despite modest revenue growth. The AGM agenda includes a fresh RPT approval envelope for promoter group entities that retail shareholders may want to evaluate before voting.