Counter Cyclical Investments Private Limited reduces shareholding in Evans Electric Limited to 5.61%

Counter Cyclical Investments Private Limited has disclosed a reduction in its shareholding in Evans Electric Limited, filing the mandatory disclosure under SEBI's Substantial Acquisition of Shares and Takeovers (SAST) Regulations. The Portfolio Manager, acting through its clients, disposed of shares through open market transactions on March 16, 2026.

Shareholding Reduction Details

The company sold 7000 shares of Evans Electric Limited through open market transactions, representing 0.13% of the total share capital. This disposal reduced Counter Cyclical Investments' total shareholding from 315000 shares to 308000 shares.

Parameter:	Before Disposal	Disposal	After Disposal
Number of Shares:	315000	7000	308000
Percentage Holding:	5.74%	0.13%	5.61%
Voting Rights:	5.74%	0.13%	5.61%

Detail:	Information
Acquirer:	Counter Cyclical Investments Private Limited (PMS)
Target Company:	Evans Electric Limited
Transaction Date:	March 16, 2026
Mode of Disposal:	Open Market
Stock Exchange:	BSE Limited

Regulatory Compliance

The disclosure was made in accordance with Regulation 29(2) of SEBI's Substantial Acquisition of Shares and Takeovers Regulations, 2011. The filing was submitted to both Evans Electric Limited and BSE Limited on March 17, 2026, signed by Director Parminder Pal Singh Bhatia (DIN: 07159378).

Evans Electric Limited's total equity share capital remains at 5488000 shares, with the company's shares listed on BSE Limited. The disposal represents a minor reduction in Counter Cyclical Investments' stake while maintaining its position as a significant shareholder in the electrical equipment manufacturer.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.37%	+7.04%	-20.34%	-54.32%	-45.14%	+29.82%

Evans Electric Limited has announced the resignation of its Chief Financial Officer (CFO) and Key Managerial Personnel, Mr. Prathamesh Wadekar, effective February 28, 2026. The resignation has been submitted to pursue further education under the Chartered Accountancy (CA) Final program.

Regulatory Disclosure Details

The company filed the mandatory disclosure with BSE Limited on February 18, 2026, pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notification was signed by Director Ivor Anthony Desouza and submitted to comply with regulatory requirements for key managerial personnel changes.

Parameter	Details
Reason for Change	Resignation to pursue CA Final program
Effective Date	February 28, 2026
Notification Date	February 18, 2026
Company Code	542668
ISIN	INE06TD01010

Management's Response

The company has placed on record its appreciation for the services rendered by Mr. Prathamesh Wadekar during his tenure as CFO. In his resignation letter, Wadekar confirmed that there are no other material reasons for his resignation beyond pursuing further education under the Chartered Accountancy Final program.

Professional Transition

Wadekar expressed gratitude for the opportunities and guidance received during his tenure with Evans Electric Limited. He acknowledged the professional enrichment gained from working with the team and expressed pride in his contributions toward strengthening the company's financial and operational framework. The resignation letter requested management to consider the resignation for all statutory, regulatory, and banking purposes, including necessary filings with the Registrar of Companies and updates to bank authorized signatory mandates.

Company Operations

Evans Electric Limited, incorporated in 1951, operates in the heavy electro-mechanical repairs sector. The company maintains its registered office in Santa Cruz (West), Mumbai, and operates manufacturing facilities in Palghar, Maharashtra. The resignation represents a planned transition as the CFO pursues advanced professional qualifications in chartered accountancy.