Shareholders approve MoA amendments widening objects to fabrication, renewables, investments

Shareholders approved amendments to the Memorandum of Association by a Special Resolution at the 30th AGM held on September 30, 2026.

Thu 1 Oct 2026

Resolution Type

Special Resolution

Meeting

30th Annual General Meeting held on Wednesday, September 30, 2026

Meeting Mode

Video Conferencing / Other Audio Visual Means

Scrutinizer's Report Received

October 01, 2026 at 6:19 P.M.

MoA Amendment

two new sub-clauses in Clause III(A) Objects; two new sub-clauses in Clause III(B)

What happened

The Company has informed the exchanges that its shareholders approved amendments to the Memorandum of Association (MoA) by way of a Special Resolution at the 30th Annual General Meeting held on Wednesday, September 30, 2026, conducted through Video Conferencing / Other Audio Visual Means. The Scrutinizer's Report for the meeting was received by the Company on October 01, 2026 at 6:19 P.M.

What the amendments change

• Clause III(A) of the MoA, which sets out the Objects of the Company, gets two new sub-clauses — numbered 2 and 3 — inserted after the existing sub-clause 1.
• Clause III(B), which covers matters necessary for furtherance of the objects, gets two new sub-clauses — numbered 32 and 33 — added after the existing sub-clause 31.

New main objects

Sub-clause 2 covers designing, developing, manufacturing, assembling, fabricating, producing, processing, finishing, testing, inspecting, installing, commissioning, maintaining, servicing, repairing, overhauling, refurbishing, modernising, buying, selling, importing, exporting and distributing mechanical, electrical, electro-mechanical, hydraulic, pneumatic and motorised products, equipment, assemblies, sub-assemblies, components, spares and accessories; fabricated equipment and structures such as pressure vessels, tanks, heat exchangers, piping spools, skids, platforms, supports, frames, enclosures and allied fabrications; and cast, forged, machined and heat-treated items. The sectors named for supply include steel plants, power plants, oil & gas, petrochemical, chemical, fertiliser, cement, sugar, pharmaceutical, semiconductor, Data Centre, HVAC, water and wastewater treatment, mining, infrastructure, EPC, defence and other industrial, commercial or institutional sectors, in India and abroad. Sub-clause 3 covers designing, developing, manufacturing, fabricating, assembling, installing, commissioning, buying, selling and distributing products, equipment, components, assemblies, structures, support structures, mounting systems, balance-of-plant items and allied items required for renewable energy projects of every kind — solar, wind, hydro including small and micro hydro, biomass, biogas, waste-to-energy, green hydrogen, energy storage and such other renewable and sustainable energy projects as may be recognised, in India and abroad.

New ancillary powers

• Sub-clause 32 allows buying, selling, distributing, supplying, importing, exporting and dealing in goods, materials, products, commodities and bought-out items connected with the Company's business — including iron and steel and steel products, ferrous and non-ferrous metals and alloys, mechanical, electrical and hydraulic products, industrial equipment, spares, components, consumables and project-material supplies — and supplying such goods to other companies, contractors and project owners.
• Sub-clause 33 allows forming, promoting, establishing, incorporating, acquiring, holding, investing in and subscribing to shares, stocks, debentures, debenture-stock, bonds, convertible instruments and other securities of one or more subsidiary companies, step-down subsidiaries, associate companies, joint venture companies or special purpose vehicles, in India or outside India; and acquiring, purchasing, taking over, amalgamating or merging with any other company, body corporate, firm, limited liability partnership, business or undertaking, whether by acquisition of shares, business, assets, undertaking, slump sale, scheme of arrangement or otherwise, in India or abroad. It also allows providing financial, technical, managerial, administrative and marketing support to such entities.

How to read this

• The decision was taken by a Special Resolution, which is the shareholder approval route used for changes to the MoA.
• The amendments describe the range of activities the Company is permitted to carry on. They set the scope of the Objects clause; they are the constitutional permission, not a record of any order, contract, investment or transaction.
• The additions point to a wider set of sectors and product lines the Company may address, and to a stated ability to hold interests in subsidiaries, joint ventures or special purpose vehicles and to pursue acquisitions, in India or abroad.
• Nothing in the update changes the Company's share capital, shareholding pattern or financials.

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