Outcome of Board Meeting
Awaiting price reaction for this filing.
The board approved Q2 FY26 and H1 FY26 (ended Sept 30, 2025) results showing zero revenue from operations and a total revenue of just ₹1.68 lacs for the half-year. The company posted a loss before tax of ₹30.29 lacs in H1 FY26 versus a smaller loss of ₹4.97 lacs in H1 FY25, with operating cash flow also negative at ₹(1.55) lacs. A sweeping leadership change was announced: three members of the Satani family — Paresh Satani (new Managing Director), Tanuj Satani (Whole-time Director and CFO), and Chirag Satani (Whole-time Director) — were appointed, while the outgoing MD/CFO Priyankbhai Ghelani and two independent directors resigned. The board also approved renaming the company from "Deccan Bearings Limited" to "Satani Bearings Limited," subject to EGM and central government approval, with the EGM scheduled for December 13, 2025. Cash and cash equivalents jumped to ₹63.83 lacs (from ₹0.57 lacs a year earlier), supported by a ₹178.17 lacs share capital infusion during the period.
This filing effectively marks a change of control to the Satani family group (which runs Satani Industries and other bearing businesses), with the listed entity now being rebranded to reflect the new promoters. With operations producing no revenue and widening losses, shareholders should closely watch the December 13 EGM outcomes — particularly the name change and new management appointments — and the strategic direction the new family-led board intends to pursue.