Shri Ram Switchgears Limited (SRIRAM)
Latest quarterly results (Q4 FY26)
In its latest reported quarter, Q4 FY26, Shri Ram's revenue was ₹0.6 Cr, and net profit ₹-0.4 Cr; the operating margin was -49.5%.
| Q4 FY26 (₹ Cr) | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹0.6 | — | — |
| Operating profit | ₹-0.3 | — | — |
| Net profit | ₹-0.4 | — | — |
| EPS (₹) | -0.36 | — | — |
| Operating margin | -49.5% | — | — |
📢 Recent Corporate Announcements
Shri Ram Switchgears Limited announced the voting results and scrutinizer's report for its 40th Annual General Meeting held on September 30, 2026. All five ordinary resolutions—including the adoption of FY26 financial statements and director appointments—were passed with 100% of the polled votes in favour. A total of 4,976,370 votes (representing 49.71% of total outstanding shares) were cast exclusively via physical poll by 7 promoter group members; public shareholders cast zero votes. The company noted that trading in its securities is currently suspended on the NSE SME platform.
- All 5 resolutions passed with 100% of polled votes (4,976,370 shares) in favour
- Overall turnout was 49.71% of the total 10,010,565 outstanding shares
- Zero votes polled by public non-institutional or institutional shareholders
- Securities currently suspended from trading on the NSE SME platform
Shri Ram Switchgears Limited held its 40th Annual General Meeting on September 30, 2026. The company confirmed it is currently implementing an approved Resolution Plan under the Insolvency and Bankruptcy Code (IBC), 2016, supervised by a Monitoring Committee chaired by Resolution Professional Navin Khandelwal. Ordinary business resolutions placed before shareholders included the adoption of FY26 financial statements and director appointments, including Anjul Choudhary as Whole Time Director. The company remains financially stressed with a negative net worth of Rs -69 crore and debt of Rs 60 crore.
- 40th Annual General Meeting held on September 30, 2026, from 01:00 p.m. to 01:30 p.m.
- Company is in the process of implementing an approved Resolution Plan under the Insolvency and Bankruptcy Code, 2016.
- Management control remains vested with the Monitoring Committee chaired by Resolution Professional Navin Khandelwal alongside the new Board.
- Ordinary business considered adoption of financial statements as of March 31, 2026, and appointment of 4 directors including Whole Time Director Anjul Choudhary.
Shri Ram Switchgears Limited held its 40th Annual General Meeting on September 30, 2026. The company confirmed it is currently implementing an approved Resolution Plan under the Insolvency and Bankruptcy Code (IBC), 2016, supervised by a Monitoring Committee chaired by Resolution Professional Navin Khandelwal. Ordinary business resolutions placed before shareholders included the adoption of FY26 financial statements and director appointments, including Anjul Choudhary as Whole Time Director. The company remains financially stressed with a negative net worth of Rs -69 crore and debt of Rs 60 crore.
- 40th Annual General Meeting held on September 30, 2026, from 01:00 p.m. to 01:30 p.m.
- Company is in the process of implementing an approved Resolution Plan under the Insolvency and Bankruptcy Code, 2016.
- Management control remains vested with the Monitoring Committee chaired by Resolution Professional Navin Khandelwal alongside the new Board.
- Ordinary business considered adoption of financial statements as of March 31, 2026, and appointment of 4 directors including Whole Time Director Anjul Choudhary.
Shri Ram Switchgears Limited has announced the proposed reclassification of its existing Promoter and Promoter Group as Public pursuant to the Resolution Plan approved under Section 31 of the Insolvency and Bankruptcy Code (IBC). This follows the NCLT Indore Bench order dated May 08, 2026 (intimated on May 27, 2026). The reclassification is carried out under the exemption provided by SEBI LODR Regulation 31A(9), with existing promoters relinquishing all control. Financially, the company operates under distress with a net worth of Rs -69 Cr and debt of Rs 60 Cr as per recent records.
- Resolution plan approved by NCLT Indore Bench via order dated May 08, 2026 under Section 31 of IBC
- Existing Promoter and Promoter Group proposed to be reclassified as Public under Regulation 31A(9)
- Existing promoters will cease to exercise control or management over the company
- Follows previous intimation regarding the Board meeting held on September 07, 2026
Shri Ram Switchgears has fixed September 30, 2026 as the fresh Record Date for the cancellation and reduction of equity share capital pursuant to an NCLT-approved resolution plan. The earlier proposed record date of September 16, 2026 was cancelled following directions from the NSE. The resolution plan submitted by Prakash Asphaltings and Toll Highways (India) Limited was approved by the NCLT Indore Bench on May 8, 2026. The capital reduction is part of insolvency resolution implementation for the financially stressed company, which carried a negative net worth of ₹-69 crore.
- Fresh Record Date fixed for September 30, 2026, cancelling the previous date of September 16, 2026
- Capital reduction is being executed pursuant to NCLT Indore Bench order delivered on May 8, 2026
- Resolution plan submitted by Prakash Asphaltings and Toll Highways (India) Limited approved by CoC with 93.81% voting share
- Company undertook to notify NSE regarding a new ISIN following the share capital reduction
Shri Ram Switchgears Limited has cancelled its previously fixed record date of September 16, 2026, for capital cancellation, reduction, and consolidation. The action follows NSE's observation that the original intimation did not comply with Regulation 42(2) of SEBI LODR Regulations. The proposed capital restructuring is pursuant to an NCLT Indore-approved Resolution Plan dated May 8, 2026. A fresh record date complying with applicable regulations will be notified at a later stage.
- Cancelled record date of September 16, 2026, originally filed on September 10, 2026
- Capital reduction and consolidation pursuant to NCLT Indore order dated May 08, 2026
- Cancellation directed by NSE due to non-compliance with SEBI LODR Regulation 42(2)
- Fresh record date to be announced later after complying with procedural rules
Shri Ram Switchgears has set September 16, 2026, as the record date to determine shareholder entitlements for an NCLT-approved reduction of share capital. The capital reduction follows an order passed by the Hon'ble NCLT dated May 8, 2026, linked to an approved resolution plan. Financially, the company operates under severe distress with a negative net worth of Rs -69 crore and debt of Rs 60 crore, alongside a net loss of Rs 0.36 crore on revenue of Rs 0.62 crore in the quarter ended March 2026. The capital reduction is an essential restructuring step to adjust the company's distressed balance sheet.
- Proposed record date set for September 16, 2026, to execute share capital reduction
- Capital reduction approved pursuant to Hon'ble NCLT order dated May 8, 2026
- Restructuring follows an approved resolution plan addressing negative net worth of Rs -69 crore
- Company reported March 2026 quarterly revenue of Rs 0.6238 crore with a net loss of Rs 0.3594 crore
Shri Ram Switchgears Limited has published newspaper advertisements confirming the dispatch of notices for its 40th Annual General Meeting (AGM). The AGM is scheduled to take place physically at the company's registered office in Ratlam on Wednesday, September 30, 2026, at 01:00 PM IST. Dispatch of notices and the annual report was completed on September 08, 2026. The advertisements were issued in The Times of India and Prabhatkiran on September 09, 2026.
- 40th Annual General Meeting scheduled for Wednesday, September 30, 2026, at 01:00 PM IST
- Dispatch of AGM notice and annual report completed on September 08, 2026
- Meeting to be held physically at registered office in Ratlam (M.P.)
- Newspaper advertisements published on September 09, 2026, in Times of India and Prabhatkiran
Shri Ram Switchgears Limited announced that it is sending letters to shareholders whose email addresses are not registered, providing weblinks to access the Annual Report for FY 2025-26. The Annual Report is accompanied by the notice convening the company's 40th Annual General Meeting. Shareholders can also request physical copies free of cost from the company or its RTA. This filing is purely procedural compliance under SEBI Listing Regulations.
- Intimation under Regulation 30 and 36(1)(b) of SEBI LODR Regulations dated 08th September, 2026
- Letters dispatched to shareholders without registered email addresses regarding the FY 2025-26 Annual Report
- Notice convenes the 40th Annual General Meeting of the company
- Physical copy of the Annual Report available free of cost upon shareholder request
Shri Ram Switchgears has announced major capital restructuring and board reconstitution under an NCLT-approved Resolution Plan. Existing promoter shareholding of 60,87,585 equity shares (60.64%) is cancelled entirely, while 39,22,980 public shares are reduced to just 25,000 shares. New resolution applicant SPV, Alaknanda Consultancy Private Limited, is infused with 4,75,000 shares (Rs 47,50,000) to hold 95% of the restructured equity. Meanwhile, statutory auditors issued an adverse opinion regarding internal financial controls citing material weaknesses, lack of audit trail, and missing internal audits.
- Cancellation of 60,87,585 shares (60.64% stake) held by existing promoters pursuant to the NCLT resolution plan
- Public shareholding severely reduced from 39,22,980 shares to 25,000 shares (5% of restructured equity)
- Fresh equity allotment of 4,75,000 shares aggregating Rs 47,50,000 to new promoter Alaknanda Consultancy (95% stake)
- Record date fixed as September 16, 2026, for capital reduction and cancellation
- Auditors issued an Adverse Opinion on internal financial controls citing disabled audit trails, reconciliation gaps, and absence of internal audit
Shri Ram Switchgears has announced the implementation of an NCLT-approved Resolution Plan, resulting in extreme capital restructuring. All 60,87,585 promoter equity shares (60.64% stake) are cancelled, while 39,22,980 public shares are reduced to just 25,000 shares. The successful resolution applicant's SPV, Alaknanda Consultancy, will hold 4,75,000 shares (95% stake) post an equity infusion of Rs 47.50 lakh, leaving public shareholders with a 5% stake. Additionally, the statutory auditors issued an adverse opinion on internal financial controls citing severe accounting weaknesses.
- Cancellation of 60,87,585 equity shares of Rs 10 each held by promoters, representing 60.64% stake
- Reduction of public shareholding from 39,22,980 equity shares of Rs 10 down to 25,000 equity shares
- Allotment of 4,75,000 shares (95% post-issue equity) to Alaknanda Consultancy for Rs 47,50,000
- Record date set for September 16, 2026, to determine shareholders for capital reduction and cancellation
- Auditor flagged material weaknesses and gave an adverse opinion on internal financial controls
Shri Ram Switchgears' Monitoring Committee approved the implementation of its NCLT-approved Resolution Plan. All 60,87,585 shares held by existing promoters (60.64%) are cancelled, while public shares are drastically reduced from 39,22,980 to 25,000 shares. Successful Resolution Applicant Alaknanda Consultancy is allotted 4,75,000 shares for Rs 47,50,000, giving it a 95% controlling stake. The record date for the capital restructuring is set for September 16, 2026, alongside reconstituted board appointments.
- Cancellation of 60,87,585 promoter shares representing 60.64% stake
- Public shareholding severely reduced from 39,22,980 shares to just 25,000 shares
- Allotment of 4,75,000 shares (95% stake) to Alaknanda Consultancy for Rs 47.5 lakh
- Total post-restructuring paid-up capital stands at 5,00,000 shares (Rs 50,00,000)
- Record date for capital reduction and cancellation fixed as September 16, 2026
Pursuant to the NCLT-approved Resolution Plan, the Monitoring Committee approved the cancellation of all 60,87,585 equity shares (60.64%) held by the erstwhile promoters. Public shareholding of 39,22,980 shares is drastically reduced to 25,000 shares of Rs 10 each, while new promoter SPV Alaknanda Consultancy Private Limited is allotted 4,75,000 shares (95% stake) for Rs 47.50 lakh. The record date for the capital reduction and cancellation has been set as September 16, 2026. Additionally, a new board was constituted and the statutory auditor issued an adverse opinion on internal financial controls for FY26.
- Full cancellation of 60,87,585 promoter shares (60.64% stake) without consideration.
- Public holding reduced from 39,22,980 shares to 25,000 shares of Rs 10 each (99.36% reduction).
- Alaknanda Consultancy Private Limited allotted 4,75,000 shares (95% stake) via Rs 47.50 lakh equity infusion.
- Total post-restructuring equity capital stands at Rs 50,00,000 (5,00,000 shares).
- Record date for share cancellation and reduction fixed for September 16, 2026.
Shri Ram Switchgears has approved the execution of its NCLT-approved Resolution Plan, leading to a drastic restructuring of its equity capital. The existing promoter holding of 60,87,585 shares (60.64%) will be cancelled completely, while public shareholding is reduced from 39,22,980 shares to just 25,000 shares. The Successful Resolution Applicant (Alaknanda Consultancy Pvt Ltd) is being allotted 4,75,000 equity shares for Rs 47.50 lakh to hold 95% equity. The board has fixed September 16, 2026, as the record date and appointed four new directors to reconstitute the board.
- Full cancellation of 60,87,585 promoter equity shares (60.64% stake)
- Public shareholding drastically reduced from 39,22,980 shares to 25,000 shares (5% of restructured equity)
- Fresh equity infusion of Rs 47,50,000 (4,75,000 shares) by Alaknanda Consultancy Pvt Ltd (95% stake)
- Record date set for September 16, 2026, to determine shareholder eligibility for capital reduction
- Board reconstituted with appointment of WTD Anjul Choudhary and three other directors
Shri Ram Switchgears has approved the implementation of its NCLT-approved Resolution Plan. All 60,87,585 shares (60.64%) held by the erstwhile promoters are cancelled, and 39,22,980 public equity shares are reduced to just 25,000 shares. The resolution applicant SPV, Alaknanda Consultancy Private Limited, has been allotted 4,75,000 equity shares for Rs 47.50 lakh, taking a 95% stake in the restructured capital of 5,00,000 shares (Rs 50 lakh). The record date for the capital reduction has been set as September 16, 2026, alongside a full reconstitution of the Board.
- Cancellation of 60,87,585 equity shares (60.64%) held by existing promoter group.
- Reduction of 39,22,980 public shares to 25,000 shares (99.36% reduction in public share count).
- Allotment of 4,75,000 equity shares of Rs 10 each (Rs 47.50 lakh) to Alaknanda Consultancy for a 95% stake.
- Post-restructuring share capital fixed at 5,00,000 equity shares of Rs 10 each (Rs 50,00,000).
- Record date for capital reduction and cancellation set for September 16, 2026.
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