Chandni Machines Limited held an Extra Ordinary General Meeting (EGM) on July 23, 2026, where shareholders approved the alteration of the object clause in the Memorandum of Association and sanctioned the variation in objects of preferential allotment along with the reallocation of unutilized proceeds. The meeting, chaired by Managing Director Jayesh R Mehta, was conducted via video conferencing in compliance with SEBI and Ministry of Corporate Affairs regulations.

The company provided a remote e-voting facility which commenced at 9:00 a.m. on July 20, 2026, and concluded at 5:00 p.m. on July 22, 2026. E-voting was also available during the EGM for members who had not cast their votes remotely. M/s. S P K G & Co. LLP, a Practicing Chartered Accountant firm, was appointed as the scrutinizer to oversee the voting process.

Special Business Resolutions

The EGM transacted two special business items. The resolutions sought approval for structural changes to the company's charter and the utilization of funds raised through preferential allotment.

No shareholders registered themselves as speakers to address the meeting or raise queries regarding the resolutions. The proceedings concluded at 3:10 p.m., with the e-voting facility remaining open for an additional 15 minutes to facilitate voting. The detailed voting results and the scrutinizer's report will be disseminated to the stock exchanges and published on the company's website.

Chandni Machines has scheduled an Extra-Ordinary General Meeting (EGM) on July 23, 2026, at 3:00 p.m. IST via video conference. Shareholders will vote on the alteration of the Object Clause of the Memorandum of Association (MOA) to facilitate expansion into manufacturing, marine, and chemical trading sectors. The meeting will also seek approval for the variation in the utilisation of unutilised proceeds amounting to ₹29.09 crore raised through a preferential issue.

The Board of Directors approved the insertion of sub-clauses 5, 6, 7, and 8 under the Main Objects Clause on June 18 and June 24, 2026. These alterations aim to diversify business activities amid challenges in the existing second-hand machinery trade due to geopolitical uncertainties and supply chain disruptions.

Strategic Expansion

The proposed alterations to the MOA outline a significant diversification of business activities. The approved objects include:

• Manufacturing: Producing aluminium, zinc, metal ingots, and aerospace engineering components.
• Infrastructure: Establishing manufacturing facilities in Gujarat or other states in India.
• Marine and Shipbuilding: Undertaking repair, maintenance, and engineering services for ships, including naval and defence shipbuilding activities such as constructing warships and patrol boats.
• Chemicals Trading: Dealing in industrial chemicals, petroleum products, lubricants, and related derivatives.

Reallocation of Preferential Issue Proceeds

Shareholders will also consider a special resolution to vary the objects of the preferential allotment made on January 30, 2026. The company raised ₹41.01 crore through the issuance of 38,10,900 equity shares and 40,00,000 convertible warrants at ₹52.50 per share. The issue was undersubscribed compared to the initially approved target of ₹42.97 crore.

The Board proposes to reallocate the unutilised proceeds of ₹29.09 crore. The allocation for 'Investment in subsidiaries and strategic acquisitions' amounting to ₹5.00 crore has been withdrawn. Funds will be redirected towards enhanced working capital requirements and capital expenditure for the new business lines proposed under the MOA alteration.

The Audit Committee reviewed the proposal on June 24, 2026, and recommended the changes as being in the best interest of the company. The facility for remote e-voting and e-voting during the EGM will be provided by Purva Sharegistry (India) Pvt. Ltd.