Shalimar Wires Industries Ltd — Others, 08-07-2025: Others

Shalimar Wires Industries Ltd has announced a board meeting on 26th July, 2025 to consider the financial results for the quarter and half-year. The company has scheduled its 29th AGM through video conferencing where shareholders will approve the annual financial statements and re-appoint Mr. Sunil Khaitan as director. The board has proposed remuneration of Rs. 50,000 plus GST to M/s. Mitra Bose & Associates as Cost Auditors for FY 2025-26 and the appointment of M/s. MR & Associates as Secretarial Auditors for five consecutive years.

For FY 2024-25, the company reported total revenue of ₹134.64 Cr, up slightly from ₹133.29 Cr last year. Operating profit rose to ₹27.78 Cr from ₹24.99 Cr. Finance cost and depreciation stood at ₹13.19 Cr and ₹12.60 Cr, respectively. Profit before tax was ₹2.34 Cr, compared to ₹1.47 Cr last year, with total comprehensive income of ₹2.66 Cr compared to ₹2.02 Cr. The company did not declare any dividend to conserve resources for growth and capex. Export turnover was stable at ₹26.79 Cr.

Operationally, the company is expanding capacity by installing a new loom and importing advanced machinery, expecting production to start August 2025. It aims to leverage growing paper packaging demand and boost exports amid rising global opportunities. The company maintains a CRISIL BB/Stable long-term credit rating and A4+ short-term rating.

The Board comprises 5 directors including two promoters (Mr. Sunil Khaitan and Mr. Vedant Khaitan) and three independent directors. Key management personnel remained unchanged. Related party transactions are on arm’s length basis without any material conflict.

The company continues modernization efforts, technology upgrades, and focuses on cost competitiveness amid market challenges. Employee strength stands at 336, with emphasis on training and development. Internal controls and corporate governance practices are in place and compliant.

Auditors gave unqualified opinion on standalone financials, confirming adequacy of internal financial controls and no observed fraud. The company reported no cash loss and manageable debt-equity ratio of 2.39x, with improvement in return on equity to 6.29%.

Contingent liabilities mainly relate to tax and sales tax disputes under appeal totalling ₹8.88 Cr. No significant changes in business are reported. The company asserts compliance with all material legal and regulatory requirements.