Coromandel Engineering Company Limited has initiated a postal ballot process to seek shareholder approval for material related party transactions aggregating ₹310 crore for the financial year 2026-27 and the appointment of Dr. Swetha as a Non-Executive Non-Independent Director. The company has engaged KFin Technologies Limited to facilitate the remote e-voting facility, which will be open from June 11, 2026, to July 10, 2026. The resolutions cover transactions with four related parties and the ratification of a director's appointment.

Related Party Transactions

The Board of Directors has proposed ordinary resolutions to approve material related party transactions with Silver Sands Beach Resort, Accord Distilleries and Breweries Private Limited, Bharath Institute of Higher Education & Research, and Mrs. Kalaiarasi. These transactions involve the provision of construction services and are proposed to be conducted at arm's length in the ordinary course of business.

The Audit Committee and the Board approved these proposals on March 24, 2026. The transactions with Silver Sands Beach Resort and Bharath Institute of Higher Education & Research represent significant portions of the company's annual consolidated turnover, at 478.79% and 483.87% respectively, based on the immediately preceding financial year. The company stated that these capital expenditure projects are long-term investments and not directly correlated with annual operating turnover.

Director Appointment

Shareholders will also vote on the appointment of Dr. Swetha (DIN: 01728751) as a Director (Non-Executive – Non-Independent). Dr. Swetha was initially appointed to the Board on May 25, 2026, pursuant to Section 161(1) of the Companies Act, 2013, and is liable to retire by rotation. The appointment is based on the recommendation of the Nomination & Remuneration Committee. Dr. Swetha is a relative of the promoter, Mr. Sundeep Anand Jegath Rakshagan.

Postal Ballot Schedule

The remote e-voting facility is available to members whose names appear in the Register of Members or the Register of Beneficial Owners as on the cut-off date of June 5, 2026. The voting results will be announced within two working days of the conclusion of e-voting. Ms. Vidhya Sivakumar, Practicing Company Secretary, has been appointed as the Scrutinizer to oversee the process.

Coromandel Engineering Company Limited has confirmed there is no deviation or variation in the use of proceeds from a preferential allotment of equity shares for the quarter and year ended March 31, 2026. The company raised ₹6,60,76,092 through the allotment of 16,49,840 equity shares on May 8, 2025. The funds were allocated towards general corporate purposes, upcoming projects, and execution of bank guarantees, performance guarantees, and advances for projects.

The Audit Committee reviewed and approved the utilization statement at its meeting held on May 25, 2026. The disclosure was made to BSE Limited pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The statement of utilization for the quarter ended March 31, 2026, indicates that funds utilized during the period amounted to ₹5,14,199.54. There was no deviation in the objects or purposes for which the funds were raised, nor was there any deviation in the amount of funds actually utilized as against what was originally disclosed.

Utilization of Issue Proceeds

Details of Fund Allocation