Alfa Transformers Limited has scheduled a board meeting for June 24, 2026, to consider the draft notice for its 44th Annual General Meeting (AGM) for the financial year 2025-26. The meeting will be held at 3.00 P.M. to inter alia approve the Directors' Report and Corporate Governance report along with all annexures. The board will also finalize the date, time, and venue for convening the AGM.

Agenda for the Board Meeting

The primary focus of the meeting is to take on record the financial statements and reports for the financial year 2025-26. Additionally, the board will address procedural requirements related to the upcoming shareholder meeting.

Key Appointments

The board is set to appoint Mr. Uttam Baral, a partner at M/s. Saroj Ray & Associates, Practicing Company Secretaries, as the scrutinizer for the 44th AGM. The appointment is intended to ensure the proper conduct of the voting process during the meeting.

The intimation was submitted to BSE Limited in compliance with Regulation 29 of the SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015. Any other business with the permission of the Chairman may also be taken up during the meeting.

Alfa Transformers Ltd has approved the slump sale of its Vadodara unit to KASST Industries Limited for a cash consideration of ₹18.00 Cr to address substantial operational losses and working capital constraints. The Board of Directors approved the transfer of the unit as a going concern on June 19, 2026, subject to shareholder approval under the Companies Act, 2013 and SEBI (LODR) Regulations, 2015. The transaction is expected to be completed by September 18, 2026.

The Vadodara unit reported revenue of ₹1049.30 Lakhs for the financial year ended March 31, 2026, against the company's total revenue of ₹3,274.23 Lakhs. However, the unit faced significant financial stress, recording a loss of ₹272.48 Lakhs for the year and accumulating total losses of ₹1581.15 Lakhs as of March 31, 2026. The company stated that the unit requires immediate working capital funding to sustain operations or face liquidation damages due to delays in transformer supply.

KASST Industries Limited, an unlisted Indian company incorporated during FY 2026, is the buyer for the proposed manufacturing and marketing business. The company confirmed that the buyer does not belong to the promoter group or group companies of Alfa Transformers, and the transaction is not a related party transaction conducted at arm's length.

The Business Transfer Agreement was executed on June 19, 2026, following the board's approval. The slump sale is not being undertaken through a Scheme of Arrangement and will comply with Regulation 37A of SEBI (LODR) Regulations, 2015. The company noted that the proposed sale will render the entity debt free, though there will be no change in the shareholding pattern of Alfa Transformers upon completion.

Financial Details of Vadodara Unit