AXISCADES Engineering Technologies shareholders have approved a significant restructuring of its operations, including the slump sale of engineering services in the heavy engineering, automotive, and energy industries. The resolutions were passed via remote e-voting under a postal ballot process that concluded on July 27, 2026, paving the way for the company to transfer specific business units to new entities as part of a broader strategic reorganization.

The Board of Directors sought approval for five resolutions, four of which were special resolutions requiring a 75% majority. The most material outcome was the approval to transfer business comprising engineering services in heavy engineering, automotive, and energy sectors by way of a slump sale under Section 180(1)(a) of the Companies Act, 2013 and Regulation 37A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This resolution received 98.63% support from votes polled, with promoter group members voting unanimously in favor.

Voting Results Overview

The postal ballot was scrutinized by Biswajit Ghosh, Designated Partner at BMP & Co. LLP, who submitted his report on July 28, 2026. The record date for determining eligible shareholders was July 19, 2026, with 47,138 shareholders on record. A total of 28,382,521 votes were polled across the resolutions, representing approximately 66.73% of the outstanding shares held by promoters and public shareholders.

Key Strategic Moves

The second special resolution approved the transfer of engineering services in the aerospace industries, including branches in Germany and France and subsidiaries in India, Germany, the UK, Canada, and the US. Like the first resolution, this transfer was executed under Section 180(1)(a) of the Companies Act, 2013. Promoter group members held 22,532,047 shares and voted entirely in favor, while public non-institutional investors also supported the move with 99.99% of their polled votes.

A third resolution, passed as an ordinary resolution, authorized material related party transactions with new subsidiaries proposed to be incorporated or acquired for the aerospace business transfer. This resolution saw more dissent from public institutions, which voted against it with 46.16% of their polled votes, although the overall support remained at 89.45%. The promoter group did not vote on this resolution as they were interested parties.

Corporate Governance and Compliance

The fourth and fifth special resolutions focused on corporate structure and financial flexibility. Shareholders approved the divestment of shareholding in material subsidiaries proposed to be incorporated in India ("New India Co.") and acquired in Switzerland ("Overseas HoldCo.") in two tranches. Additionally, the company secured approval to increase limits applicable for making investments, extending loans, and giving guarantees under Section 186 of the Companies Act, 2013.

All resolutions were passed with the requisite majority. For the slump sale resolutions, the company confirmed that the number of votes cast in favor by public shareholders exceeded those cast against, satisfying the dual test required under SEBI regulations. The electronic voting data and records are being maintained by the scrutinizer for safekeeping as per regulatory requirements.

Axiscades Engineering Technologies has completed the acquisition of a land parcel measuring 32,847 sq m from the Telangana State Industrial Infrastructure Corporation (TSIIC) for a total consideration of ₹39.42 crore. The transaction, disclosed on July 24, 2026, secures the site required for the company’s planned defence hardware manufacturing and article integration unit in Telangana.

The acquisition follows an earlier disclosure dated November 12, 2025, and was executed in accordance with terms agreed upon with TSIIC. The purchase is classified as an arm’s length transaction with no related-party involvement, as the seller is not connected to the company’s promoters or group entities.

Transaction Details

The land is situated at IP Hardware Park Phase II, Mamidipally village, Balapur Mandal, Rangareddy District, Telangana. The total consideration paid for the plot stands at ₹39,41,64,000. The company confirmed that it holds no shareholding in TSIIC, and the transaction does not involve any issuance of shares or loan agreements.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026, issued on July 11, 2023, and last updated on January 30, 2026. Sonal Dudani, Company Secretary & Compliance Officer of Axiscades Engineering Technologies Limited, signed the intimation submitted to both the National Stock Exchange of India Ltd. and BSE Limited.

Strategic Expansion

The acquired facility will serve as a dedicated unit for manufacturing defence hardware and article integration, explicitly excluding fuel and explosives handling. This expansion marks a tangible step in the company’s strategy to deepen its footprint in the defence sector by securing dedicated infrastructure in a government-industrial park. The completion of the land acquisition removes a key pre-operational hurdle, allowing the company to proceed with setting up the manufacturing capabilities on the identified site.