Banco Products (India) Limited’s Board of Directors convened on August 8, 2026, to approve the standalone and consolidated unaudited financial results for the quarter ended June 30, 2026. Key decisions also included the appointment of Mr. Hiteshbhai Manubhai Patel as Additional Director and Whole-Time Director, and the scheduling of the 65th Annual General Meeting for September 19, 2026.
Banco Products (India) Board Meeting Highlights
The Board of Directors of Banco Products (India) Limited met on August 8, 2026, to discuss and approve several key corporate matters. The primary agenda items included the company’s financial performance and strategic appointments.
Financial Results for Q1 FY27
The Board has approved the Standalone and Consolidated Unaudited Financial Results for the quarter and period ended June 30, 2026. These results were accompanied by the Limited Review Report from the Auditors, which included an unmodified opinion. The detailed financial results are provided as Annexure I.
Key Management Appointments
Following the recommendation of the Nomination and Remuneration Committee, the Board has approved the appointment of Mr. Hiteshbhai Manubhai Patel (DIN: 11866196) as an Additional Director and Whole-Time Director. This appointment is effective from August 8, 2026, for a term of three years, subject to shareholder approval via a special resolution at the upcoming Annual General Meeting. Mr. Patel is an Electrical Engineer with over 25 years of experience in maintenance, engineering, and manufacturing operations, and has been with the company for over 15 years. The Board has also declared that Mr. Patel is not debarred from holding a directorship by any SEBI order.
Cost Auditor Appointment
Based on the recommendation of the Audit Committee, the Board has approved the appointment of M/s. S S Puranik and Associates, Cost Accountants (FRN: 100133), as the Cost Auditor for the financial year 2026-27. Their remuneration will be proposed for ratification by the shareholders.
Annual General Meeting and Record Date
The Board has resolved to convene the 65th Annual General Meeting of the Company on Saturday, September 19, 2026, at 11:30 a.m. IST. The meeting will be conducted through Video Conference/Other Audio Visual Means. Additionally, the Register of Members and Share Transfer Book will be closed from Saturday, September 12, 2026, to Saturday, September 19, 2026 (inclusive), for the purpose of determining shareholders eligible for final dividend, if approved. The cut-off date for determining shareholder eligibility for e-voting at the AGM is also set as Saturday, September 12, 2026.
Scrutinizer Appointment
Mr. J. J. Gandhi of M/s. J. J. Gandhi & Co. has been appointed as the Scrutinizer to oversee the remote e-voting and e-voting process at the 65th Annual General Meeting.
Meeting Details
The Board meeting commenced at 4:15 p.m. and concluded at 5:00 p.m.
Source: BSE
