Shivalik Bimetal Controls Limited has informed the Exchange regarding Change in Auditors of the company.
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Shivalik Bimetal Controls held a board meeting on 13 August 2025 and approved several items. Q1 FY26 standalone revenue grew to ₹11,669.53 lakhs (vs ₹10,721.69 lakhs YoY) with net profit rising to ₹2,097.33 lakhs (vs ₹1,630.45 lakhs YoY), and EPS at ₹3.64 (vs ₹2.83). On a consolidated basis, revenue was ₹13,659.68 lakhs and net profit was ₹2,278.06 lakhs (EPS ₹3.96). The board approved an additional investment of Euro 25,000 in its wholly owned Italian subsidiary, Shivalik Bimetal Europe SRL, and will seek a no-objection certificate from the stock exchanges for the reclassification of members of the promoter group (effectively moving them to the public category). Dr. Srikant Baldi, former Chief Secretary of Himachal Pradesh, was proposed as a Non-Executive Independent Director for a 5-year term, subject to shareholder approval. Cost, secretarial, internal, and tax auditors were all re-appointed, while the board noted it is under discussion to appoint new statutory auditors given the company's growth plans. The 41st AGM was fixed for 16 September 2025, with the book closure period running from 10 to 16 September 2025 and the cut-off date for e-voting set as 9 September 2025.
Strong YoY growth in both revenue (~9%) and net profit (~29%) reinforces a positive earnings trajectory for shareholders, while the promoter reclassification and the board's consideration of new statutory auditors suggest upcoming governance changes. The new independent director adds senior public-administration and finance expertise to the board, and the AGM agenda includes a final dividend for FY25.