Hardcastle & Waud Reports Strong FY26 Results Ahead of AGM

Revenue from operations reached Rs 1,061.42 lakhs in FY 2025-26, up from Rs 588.93 lakhs.
Net Profit after tax climbed to Rs 493.20 lakhs compared to Rs 128.69 lakhs in the prior year.

Reader Takeaway: Strong profit growth provides financial stability, but investors should scrutinize upcoming related-party transaction approvals at the AGM.

What just happened

Hardcastle & Waud Manufacturing Company Ltd has released its 80th Annual General Meeting (AGM) notice, scheduled for September 30, 2026. The meeting will finalize the adoption of financial statements for the fiscal year ending March 31, 2026. The company also confirmed it will not pay a dividend for this fiscal year to conserve internal cash flow.

Why this matters

The company saw an 80.23% surge in operational revenue. Shareholders are now being asked to approve material related-party transactions with entities including Hardcastle Petrofer Private Limited and Hawco Petrofer LLP for the next two fiscal years. These transactions involve property leasing, service provisions, and inter-corporate deposits.

Board and Governance Update

The board has announced leadership changes: Mr. Banwari Lal Jatia is up for re-appointment as Managing Director. Additionally, Mr. Ganpat Lal Dadhich joined as an Additional Non-Executive Director in March 2026, while Independent Director Mr. Sunil Kantilal Trivedi retired in May 2026 following the completion of his tenure.

What to track next

Investors should closely watch the voting outcome regarding the proposed related-party deals during the AGM. The company’s continued focus on industrial chemical trading and investment activities remains the core driver for future performance.