Storage Technologies and Automation Limited has announced the outcome of its Board Meeting held on November 11, 2026. Key decisions included the approval of the standalone and consolidated financial results for the half-year ended September 30, 2026, along with the limited review report. The Board also approved the closure of its subsidiary, Racks And Rollers FZ LLC, due to regulatory challenges. Additionally, policies on Related Party Transactions were approved, and the Board Committees were reconstituted.
Board Meeting Highlights
The Board of Directors of Storage Technologies and Automation Limited convened on November 11, 2026, and approved significant business items. The meeting, which commenced at 2:00 PM and concluded at 5:30 PM, focused on key financial and operational matters.
Financial Results and Subsidiary Closure
The Board approved the Standalone and Consolidated Financial Statements for the first half-year ended September 30, 2026, alongside the Limited Review Report. In a strategic move, the company also approved the closure of its subsidiary, Racks And Rollers FZ LLC, incorporated in Dubai. This decision stems from regulatory challenges encountered in commencing the subsidiary’s operations.
Policy Approvals and Committee Reconstitution
Furthermore, the Board approved the adoption of the Related Party Transaction Policy and the Policy on Materiality of Related Party Transaction. A related party transaction with Racks and Rollers Steel Manufacturing L.L.C. for the sale of goods was also approved on an arm’s length basis. Effective November 11, 2026, the Board of Directors also approved the reconstitution of its various committees, with updated compositions for the Audit Committee, Corporate Social Responsibility Committee, Stakeholders Relationship Committee, and Nomination and Remuneration Committee.
Financial Performance Overview
The unaudited interim standalone financial results for the half-year ended September 30, 2026, show a Profit after tax of ₹160.47 lakhs. Revenue from operations stood at ₹5,757.38 lakhs. The consolidated results for the same period reflect a Net Profit of ₹159.06 lakhs, with revenue from operations at ₹5,757.38 lakhs.
Source: BSE
