Chrome Silicon Limited has received shareholder approval to dispose of plant and machinery at its Ferro Alloy Plant located in Rudhraram Village, Telangana. The special resolution was passed via a postal ballot process that concluded on July 21, 2026, authorizing the Board to finalize the sale in the best interest of the company.

The remote e-voting process was conducted by M/s. B S S & Associates, with S. Srikanth serving as the Scrutinizer. The voting period opened on June 22, 2026, and closed on July 21, 2026. A total of 81 members participated, casting 9,408,733 valid votes.

The resolution received overwhelming support, with 99.99% of the valid votes polled in favour. Public non-institutional shareholders accounted for the majority of the votes polled, while promoter group votes were entirely in favour of the resolution.

Voting Results Summary

The disposal is subject to obtaining necessary approvals from relevant statutory, regulatory, or government authorities and lenders, if any. The Board is authorized to execute all required documents to give effect to the resolution.

Chrome Silicon Limited has called for a postal ballot to secure shareholder approval for the disposal of plant and machinery at its Ferro Alloy Plant located in Rudhraram Village, Telangana. The company's Board has determined that continuing operations at the unit is financially unsustainable due to persistent operational challenges, market volatility, and escalating power costs. An independent Chartered Engineer assessed the facility and concluded that restarting manufacturing operations is not viable, citing technological obsolescence and environmental constraints as key factors.

The proposed resolution seeks authorization under Section 180(1)(a) of the Companies Act, 2013, to dispose of the assets in their present "as is where is" condition. The Board intends to utilize the net proceeds from the sale to repay existing loans, reduce interest burden, or enhance working capital. While the plant and machinery are slated for disposal, the company plans to retain the land to explore alternative economic uses, aiming to generate sustainable value amidst rapid urbanization in the area.

Shareholders will vote on the special resolution through remote e-voting, facilitated by Central Depository Services (India) Ltd (CDSL). The e-voting period commences on June 22, 2026, at 9:00 AM IST and concludes on July 21, 2026, at 5:00 PM IST. M/s BSS & Associates, Company Secretaries, has been appointed as the Scrutinizer to oversee the voting process and ensure transparency. The results of the postal ballot are expected to be announced on or before July 23, 2026.

The explanatory statement highlights that the plant, originally equipped with Submerged Arc Furnace technology from Russia, suffered from design limitations that exposed components to extreme heat, restricting capacity to 60–70%. Furthermore, power tariffs increased from ₹5.50 to ₹8.00 per unit in 2023, significantly impacting production costs. With power accounting for nearly 80% of the finished product cost and the plant consuming approximately 8,500 units per ton of Ferro Silicon, the financial viability of the unit was severely compromised.

Key Details of the Postal Ballot

The Board of Directors recommends that shareholders approve the resolution to facilitate the strategic disposal of the unviable assets.