Smiths & Founders Approves Major Object Clause Alteration and Director Continuation at AGM
Smiths & Founders (India) Ltd held its 35th Annual General Meeting on Friday, July 24, 2026. At the meeting, members of the company passed several special resolutions, including an alteration to the Memorandum of Association and the continuation of Mr. Suresh Shastry as Chairman and Managing Director.The approved alterations give the company enhanced operational flexibility. The Object Clause of the Memorandum of Association was altered by inserting a new sub-clause which grants the company the power to engage in any form of corporate restructuring. This includes entering into, undertaking, or participating in arrangements involving mergers, demergers, amalgamations, acquisitions, takeovers, or consolidation with domestic or international entities, provided such actions comply with applicable laws and regulations.
Additionally, the Annual General Meeting approved the continuation of Mr. Suresh Shastry as Chairman and Managing Director, ensuring his tenure continues even upon reaching the age of seventy years.
Director Profile: Mr. Suresh Shastry
The AGM meeting provided details regarding the appointment and professional standing of Mr. Suresh Shastry. The following table summarizes key aspects of his directorship and operational involvement with the company:| Particulars | Details |
|---|---|
| Name & Designation | Mr. Suresh Shastry, Chairman and Managing Director |
| Age | 69 Years |
| Date of Birth | 12/11/1956 |
| Designation Status | Continuation as approved at the AGM on July 24, 2026 |
| Expertise | Forging Industry |
| Qualifications | Advanced Diploma in Forge Technology (ADFgT) |
| Equity Shareholding | 2,92,06,953 shares (28.64%) as of March 31, 2026 |
| Remuneration (FY 2025-26) | Rs.21.62/- Lakhs as Salary |
| Board Meetings Attended | 6 out of 6 during the financial year 2025-26 |
Stock Price Movement
Smiths & Founders (India) Ltd shares closed Friday, having edged up 1.95% to settle at ₹11.51 after the market session. The equity maintained a completely flat trading profile throughout the day, with the high and low both locked down at the same price point of ₹11.51.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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