Ashoka Buildcon Limited held its 33rd Annual General Meeting on September 25, 2026, where shareholders approved the re-designation of key executive directors to Joint Managing Director roles.

The meeting, conducted via video conferencing and other audio-visual means, saw the adoption of audited standalone and consolidated financial statements for FY26. The Board of Directors recommended the re-appointment of Mr. Sanjay Londhe and Mr. Ashish Kataria, who retired by rotation and sought re-election.

Key resolutions passed

The agenda included both ordinary and special business items. Shareholders ratified the remuneration payable to cost auditors M/s. S. R. Bhargave & Co. for FY27. A significant portion of the special business focused on leadership structure changes within the company.

Governance and voting details

Mr. Ashok Katariya, Chairman of the Board, chaired the proceedings. The requisite quorum was present through video conferencing. Mr. Manoj Kulkarni, Company Secretary, facilitated the remote e-voting process, which was open from September 22, 2026, to September 24, 2026. Voting also took place electronically during the AGM for those who had not voted remotely.

Mr. Vishwanath from M/s. Sharma & Trivedi LLP served as the Scrutinizer for the e-voting process. The results of the voting, along with the Scrutinizer's report, are scheduled to be disclosed to stock exchanges and displayed on the company website within two working days of the AGM's conclusion.

Ashoka Buildcon has completed the acquisition of a 100% equity stake in Sakoli Power Transmission Limited for ₹3.06 crore, making the entity a wholly owned subsidiary.

The transaction, disclosed on September 23, 2026, involves the purchase of shares from REC Power Development and Consultancy Limited. The acquisition was executed pursuant to a Share Purchase Agreement signed following a Letter of Intent received on August 13, 2026, as part of a Tariff Based Competitive Bidding process for a transmission project.

Acquisition details

The following table summarises the key details of the transaction:

Project scope and timeline

Sakoli Power Transmission Limited is a Special Purpose Vehicle (SPV) incorporated on July 7, 2025. It was established specifically to provide transmission services on a Build-Own-Operate-Transfer (BOOT) basis. The SPV's primary objective is to establish and develop infrastructure for the AIS Sakoli Substation (New 400 kV AIS Substation) and associated transmission lines.

The Scheduled Date of Commercial Operation for the project is set at 24 months from the date of acquisition. As the SPV was incorporated recently, historical turnover data for the last three years is not applicable, and the size/turnover is currently nil.

Regulatory and strategic context

The acquisition required approval from the Ministry of Power for the share transfer of the SPV, which has been received. The transaction does not fall within Related Party Transactions, and no promoter or group companies hold any interest in the entity being acquired prior to this deal.

Ashoka Buildcon’s move reflects its continued interest in expanding its portfolio within the power transmission segment. The consideration paid includes the share purchase price along with relevant expenses and liabilities of the SPV incurred to date.