SSWL Board Approves Re-appointments, Enhances Borrowing Limit to ₹3,500 Cr, Fixes AGM Date
Steel Strips Wheels Limited's Board re-appointed Sh. Dheeraj Garg (MD) and Sh. Sanjay Garg (Non-Executive Director). Borrowing limits were enhanced to ₹3,500 crore. The 40th AGM is scheduled for September 30, 2026. Sh. Vineet Aggarwal and Sh. Amit Kumar Sharma were appointed to senior management roles.
The enhancement of borrowing limits to ₹3,500 crore could facilitate future growth or capital expenditure, which might have a medium-term impact on the company's financial flexibility and expansion plans. The re-appointments and AGM scheduling are standard governance procedures.
The announcement details routine corporate actions like director re-appointments, borrowing limit enhancement, and AGM scheduling, which are standard procedures and do not inherently indicate a positive or negative shift in the company's performance or outlook.
Steel Strips Wheels Limited (SSWL) announced the outcome of its Board of Directors meeting held on September 03, 2026. The board approved the re-appointment of Sh. Dheeraj Garg as Managing Director and Sh. Sanjay Garg as Non-Executive Director, subject to member approval at the ensuing Annual General Meeting (AGM).
The company also approved an enhancement in its borrowing limits under Section 180(1)(c) of the Companies Act, 2013, from ₹2,000 crore to ₹3,500 crore, and the creation of security on company assets under Section 180(1)(a) for borrowings, both subject to member approval at the AGM.
The Board has fixed Wednesday, September 30, 2026, at 11:00 A.M. as the date and time for the 40th AGM, to be held physically at the registered office. The record date for dividend entitlement has been set as September 23, 2026, with book closure from September 24, 2026, to September 30, 2026. Remote e-voting will be available from September 27, 2026, to September 29, 2026.
Furthermore, Sh. Sushil Kumar Sikka has been appointed as the Scrutinizer for the AGM and remote e-voting process. The company also announced the appointment of Sh. Vineet Aggarwal as Executive Director (operations) and Sh. Amit Kumar Sharma as Vice-President (Personnel & Administration), both effective from September 03, 2025. The Board's Report for the Financial Year 2025-26 was also approved.
A plain-language summary of a public exchange filing by Steel Strips Wheels Limited. Read the original for the full detail.