Standard Glass Lining Technology Ltd

Standard Engineering Technology Ltd's board approved the audited standalone and consolidated financial results for the fourth quarter and year ended March 31, 2026. The board also re-appointed M/s. KY & Co. as Internal Auditors for FY 2026-27 and approved the change in designation of Mr. Yasuyuki Ikeda from Non-Executive to Executive Director. Additionally, Mr. Kancherla Uma Maheswara Rao was appointed as an Independent Director, all subject to shareholder approval.

Standard Engineering Technology Ltd reports that the utilization of proceeds from its Initial Public Offer is in line with the objects of the issue, as per the Monitoring Agency Report dated May 14, 2026, issued by ICRA Limited for the quarter ended March 31, 2026. The IPO issue size was ₹410.051 Crore, with net proceeds as per the Prospectus being ₹193.425 crore. ICRA's report states it offers an objective view based on information provided by the Issuer and believed to be accurate and reliable, without independent verification.

Standard Engineering Technology Ltd approved the audited standalone and consolidated financial results for the fourth quarter and year ended March 31, 2026. The board re-appointed M/s. KY & Co. as Internal Auditors for FY 2026-27. They also approved the change in designation of Mr. Yasuyuki Ikeda from Non-Executive to Executive Director and the appointment of Mr. Kancherla Uma Maheswara Rao as an Independent Director, both subject to shareholder approval.

Standard Engineering Technology Ltd has granted 6,00,000 Employee Stock Options (ESOPs) under the Employee Stock Option Scheme 2024 to eligible employees of the Company and its Subsidiaries. The grant, named "ESOP Grant I", falls within the shareholders approved limit of 18,16,345 options. The effective date of the grant is May 14, 2026. The options were granted at an exercise price determined at a discount of not more than 25% on the latest available closing price on NSE as of May 13, 2026.

Standard Engineering Technology Ltd (SETL) reported record FY26 performance with total income up 26.7% YoY to ₹793 crore and PAT up 20.61% YoY to ₹83 crore. The company strengthened its board with the re-designation of Mr. Yasuyuki Ikeda as Executive Director and the appointment of Mr. Kancherla Uma Maheswara Rao as Independent Director. SETL also incorporated Standard Projects Private Limited as a 75% subsidiary to expand its capabilities in civil construction and infrastructure projects.

Standard Engineering Technology Ltd approved the audited standalone and consolidated financial results for the fourth quarter and year ended March 31, 2026. The board re-appointed M/s. KY & Co. as Internal Auditors for FY 2026-27. It also approved the change in designation of Mr. Yasuyuki Ikeda from Non-Executive to Executive Director and recommended the appointment of Mr. Kancherla Uma Maheswara Rao as an Independent Director, both subject to shareholder approval.

Standard Engineering Technology Ltd approved audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The board re-appointed M/s. KY & Co. as Internal Auditors for FY 2026-27 and approved the change in designation of Mr. Yasuyuki Ikeda from Non-Executive to Executive Director. Additionally, Mr. Kancherla Uma Maheswara Rao was appointed as an Independent Director, all effective from May 14, 2026.

Standard Engineering Technology Ltd has announced the incorporation of a new subsidiary, Standard Projects Private Limited, on May 12, 2026. The subsidiary has an authorized share capital of ₹10,00,000 and is engaged in the construction industry, focusing on high-precision engineering and project technology. Standard Engineering Technology Limited holds 75% shareholding in the newly formed entity.

Asahi Glassplant Inc. acquired 34,83,000 equity shares (1.75%) of Standard Engineering Technology Ltd through an off-market transaction on May 8, 2026. This acquisition does not result in a change of control or management. Post-acquisition, Asahi Glassplant Inc. along with persons acting in concert (PACs), holds 10.48% of the company. The transaction complies with SEBI regulations, including insider trading rules.

Standard Engineering Technology Ltd has scheduled a Board of Directors meeting on May 14, 2026, to consider and approve the audited standalone and consolidated financial results for the fourth quarter and year ended March 31, 2026. The trading window for dealing in the company's securities has been closed for Directors and Designated Persons from April 1, 2026, and will remain closed until May 16, 2026.