Melstar Information Technologies532307Business model update
Board approves aviation-focused objects clause, name change and new Articles
Board approved pivoting the core business to aviation, aerospace and air transportation — aircraft MRO, aircraft and drone manufacturing, aviation training, consultancy, airline operations, air cargo and aircraft leasing.
By ScoutQuest · · 3 min read
- Proposed new name
- Melstarr Aerospace & Technologies Limited
- Results approved for
- quarter and half year ended 30 September 2026
- Board meeting held on
- 19th October, 2026
Aviation pivot approved by the Board
- The Board approved altering Clause III (A) of the Memorandum of Association, which currently covers electronic systems, IT products, computer hardware, software development, industrial and agricultural machinery and related products and services.
- The new objects add Maintenance, Repair and Overhaul (MRO) of aircraft, aircraft engines, components and aviation equipment; manufacture, assembly, repair and servicing of aircraft, drones and unmanned aerial vehicles; Aircraft Maintenance Engineering training institutes, aviation academies and flight simulators; consultancy to the aviation and aerospace sectors; and establishing and managing airlines, including regional, passenger and cargo airlines, air charter and air taxi services.
- Ancillary objects cover acquisition, leasing, sale, import, export and operation of aircraft, helicopters, drones, engines, spare parts and simulators; airports, hangars, cargo terminals and aviation logistics facilities; drone technology; ground handling, aviation fuel, manpower training and research.
- The update states these activities are subject to applicable laws, licences and regulatory approvals.
Why the company says it is doing this
- The Board's stated rationale is to diversify business operations, capture new market opportunities, contribute to indigenous capabilities and position the company for long-term growth in what it calls a high-potential aviation sector.
- The Board states it expects the shift to unlock value for shareholders. This is the Board's view as recorded in the update.
Name change
- Proposed change from Melstar Information Technologies Limited to Melstarr Aerospace & Technologies Limited, or any other name as may be approved by the Central Processing Centre, Ministry of Corporate Affairs.
- Consequential amendment to the Memorandum and Articles of Association to give effect to the new name.
- Subject to the approval of the Members of the Company.
New Articles of Association
- The existing Articles are based on the erstwhile Companies Act, 1956, and several clauses refer to sections no longer in conformity with the Companies Act, 2013.
- The Board approved adopting a new set of Articles in substitution of the existing ones, based on Table F of Schedule I of the Companies Act, 2013, aligned with the new Act and Secretarial Standards.
- Subject to shareholder approval.
Financial results
- The Board also approved the Audited Standalone and Consolidated Financial Results for the quarter and half year ended 30 September 2026.
- The Audit Report was issued by M/s. CKSP & Co LLP, Chartered Accountants, the statutory auditors.
- The results are to be uploaded on the company's website and the extract of the Consolidated Financial Results published in newspapers as prescribed.
What to keep in mind
- The name change, the altered Object Clause and the new Articles all require shareholder approval; the name also needs clearance from the Ministry of Corporate Affairs.
- An expanded objects clause widens what the company is permitted to do. It is a enabling step, and the update itself ties the aviation activities to applicable laws, licences and regulatory approvals.
- The meeting commenced at 5:00 p.m. and concluded at 5:45 p.m.
Also from Melstar Information Technologies
Subsidiary signs non-binding MoU with Andhra Pradesh Economic Development Board for aviation maintenance training facility
24 Oct 2026
Board approves change of name and object clause; auditors issue qualified opinion on results
19 Oct 2026
Board meeting on October 19, 2026 to consider audited quarter and half year results, name change, Object Clause change
14 Oct 2026
Source: BSE · 19 Oct 2026
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