Shining Tools Ltd

Shining Tools Ltd reports on the utilization of funds raised through its IPO, as per Regulation 32 of SEBI guidelines, for the financial year ended March 31, 2026. The company raised ₹17.10 Crores (₹1710 Lakhs) through the IPO. As of March 31, 2026, ₹1692.17 Lakhs has been utilized, with the remaining ₹17.83 Lakhs invested in short-term fixed deposits. The utilization is in accordance with the objects stated in the offer documents and has been reviewed by the Audit Committee.

The Board of Directors of Shining Tools Ltd approved the audited standalone financial results for the quarter and financial year ended March 31, 2026, during its meeting held on May 30, 2026. The meeting commenced at 5:00 P.M. and concluded at 6:00 P.M. The results will be available on the company's website.

Shining Tools Ltd has scheduled a Board of Directors meeting on May 30, 2026, to consider and approve the audited standalone financial results for the year ended March 31, 2026. The board will also review the utilization of IPO proceeds and consider any deviations/variations. The trading window for the company's equity shares has been closed from April 1, 2026, until 48 hours after the financial results are made public.

Shining Tools Limited has received a significant order from Chandan Process for the supply of 50 Qts of Brazed Carbide Anvils. The order, valued at ₹2,00,60,000 (Rupees Two Crore Sixty Thousand only) inclusive of 18% GST, is to be executed within six months. 100% payment will be made upon delivery. The order is from a domestic entity and is not a related party transaction.

Shining Tools Ltd responded to the exchange regarding significant share price movement. The company confirmed its adherence to SEBI Regulation 30, stating all price-sensitive information has been promptly disclosed. It further clarified that there is no pending undisclosed information that could impact the scrip's price. The company attributed the recent share price fluctuations to market-driven factors and investor sentiment, explicitly stating management is not connected to these movements.

Shining Tools Ltd has intimated the closure of the trading window from April 1, 2026, till 48 hours after the declaration of audited financial results for the half year and year ended 31st March, 2026. This decision is in accordance with the Code of Conduct for Prevention of Insider Trading of Shining Tools Limited and SEBI (Prohibition of Insider Trading) Regulations, 2015. The trading window for dealing in the securities of the company has been closed for Designated Persons from April 1, 2026, and will remain closed till 48 hours after the declaration of the Audited financial results. The date of the meeting of the Board of directors to approve the Audited financial results will be informed to the Stock Exchanges in due course. All the designated persons, their immediate relatives, and other insiders of the company are advised not to deal in the Equity shares of the company during the aforesaid period.

Shining Tools Ltd, a company based in Rajkot, Gujarat, is regularizing the appointments of three Non-Executive Independent Directors: Mr. Shaileshbhai Durlabhjibhai Sagpariya, Mr. Jay Bharatbhai Pansuria, and Mr. Akshar Jagdish Patel. The appointments will be effective from December 11, 2025, and February 12, 2026, respectively, and will last for five years. The decision was made in accordance with the Companies Act, 2013, and the Companies (Appointment and Qualifications of Directors) Rules, 2014, and was based on the recommendation of the Nomination & Remuneration Committee.

Shining Tools Ltd has appointed Mr. Akshar Jagdish Patel as Additional Independent Director in the capacity of Non-Executive Independent Director. Mr. Patel is a Chartered Accountant, Company Secretary, and Law Graduate with over 15 years of professional experience. The company has also appointed M/s Harikrishna Ghadia & Co. as Internal Auditor for the financial year 2025-26. Harikrishna Ghadia & Co. is a Chartered Accountant Firm with a team of highly qualified and motivated professionals, offering integrated one-stop services.

Shining Tools Ltd has reconstituted its Audit Committee, Nomination and Remuneration Committee, and Stakeholder Relationship Committee. The Audit Committee is chaired by Shaileshbhai Durlabhjibhai Sagpariya, an Independent Director. The Nomination and Remuneration Committee is chaired by a Non-Executive Director, with Shaileshbhai Durlabhjibhai Sagpariya and Jay Bharatbhai Pansuria as members. The Stakeholder Relationship Committee is also reconstituted with the same members. Sneha Dhaval Shah, the Company Secretary and Compliance Officer, will act as the secretary for all three committees.

Shining Tools Ltd announced the resignation of its Independent Director, Ms. Palak Pankaj Shah, with effect from 11th February 2026. Ms. Shah resigned due to her pre-occupancy and increased professional commitments. She confirmed that there are no material reasons for her resignation other than those mentioned in her resignation letter.