Avantel Limited has secured a contract worth ₹9.94 crore from the Defence Research and Development Organisation (DRDO), Ministry of Defence, Government of India, for the development and testing of satellite terminals for GSAT. The order, dated June 8, 2026, is inclusive of applicable taxes and is domestic in nature. The project carries a 24-month warranty period and is scheduled for execution by December 2028.

Contract Details

The disclosure was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that the promoters, promoter group, or group companies have no interest in the entity awarding the contract. Furthermore, the transaction does not fall within related party transactions.

The following table outlines the key particulars of the order:

Avantel Limited has scheduled its 36th Annual General Meeting for June 24, 2026, to seek shareholder approval to increase the company's borrowing limits to ₹350 crore and appoint two independent directors to the board. The meeting, to be held via video conferencing, will also consider the declaration of a final dividend of Re.0.20 per equity share for the financial year ended March 31, 2026. The notice for this meeting was published in newspapers, Financial Express and Prajasakti, on May 31, 2026.

The board has recommended the appointment of Dr. Tamilmani Kandasamy and Mr. Lakshminarasimha Acharyulu Muktevi as independent directors for a term of five years commencing from April 26, 2026. Shareholders will also vote on the re-appointment of M/s. Grandhy & Co., Chartered Accountants as statutory auditors for a second term of five years and the ratification of remuneration for cost auditors M/s. MPR & Associates for FY27.

In a special resolution, Avantel Limited proposes to increase its aggregate borrowing limits from ₹200 crore to ₹350 crore. The company stated that the enhanced financial flexibility is required to support business expansion and project development opportunities. Shareholders will also consider a resolution to authorize the board to create charges on movable and immovable properties to secure these borrowings.

The record date for determining shareholder eligibility for the dividend is June 12, 2026. Remote e-voting will commence on June 21, 2026, and conclude on June 23, 2026. The cut-off date for determining eligibility for e-voting is June 17, 2026. The company has appointed Mr. M. B. Suneel, Practicing Company Secretary, as the Scrutinizer for the voting process.

The notice confirmed that the company has transferred 4,58,400 equity shares to the Investor Education and Protection Fund (IEPF) during the financial year ended March 31, 2026, as the dividends on these shares remained unclaimed for seven consecutive years or more.

Key AGM Agenda