DCX Systems Limited has successfully concluded its postal ballot process, with shareholders approving the Ordinary Resolution for material related party transactions with ELTX Systems Private Limited. The remote e-voting process, conducted pursuant to Sections 108 and 110 of the Companies Act, 2013, commenced on Friday, April 10, 2026, at 9:00 a.m. (IST) and concluded on Saturday, May 09, 2026, at 5:00 p.m. (IST). The resolution has been deemed passed on May 09, 2026, being the last date of e-voting.

Voting Process and Timeline

The postal ballot was initiated following a notice dated April 09, 2026, submitted to the stock exchanges, seeking member approval for material related party transactions with ELTX Systems Private Limited, a related party of the company. The cut-off date for determining eligible shareholders was Friday, April 03, 2026. The e-voting facility was provided by MUFG Intime India Private Limited (formerly known as Link InTime India Private Limited), and the entire process was conducted exclusively through remote e-voting.

CS Pramod S, Practicing Company Secretary, was appointed as the Scrutinizer for the process. He submitted his report on the voting results on May 11, 2026, confirming that the resolution was passed with the requisite majority. The votes were unblocked and downloaded on May 09, 2026, and witnessed by two independent witnesses, Mr. Hemanth Pai and Mr. Prashanth CY, who are not in the employment of the company or MUFG Intime.

Detailed Voting Results

The following table presents the category-wise breakdown of votes polled and the outcome of the resolution:

Notably, the Promoter and Promoter Group, who held 58104342 shares and were noted as interested parties in the resolution, did not participate in the voting, as is standard practice for related party transaction approvals where interested parties are required to abstain.

Key Resolution Details

The following summarises the key parameters of the postal ballot:

Scrutinizer's Confirmation

CS Pramod S, in his report submitted on May 11, 2026, confirmed that the Ordinary Resolution for approval of material related party transactions with ELTX Systems Private Limited has been passed by the shareholders with the requisite majority. The electronic data and all other relevant records relating to the e-voting are to be handed over to the Company Secretary of the company. The results have been communicated to the stock exchanges by Gurumurthy Hegde, Company Secretary, Legal and Compliance Officer of DCX Systems Limited, and will also be made available on the company's website at www.dcxindia.com .

Israel Aerospace Industries' (IAI) ELTA Systems and DCX Systems Ltd. broke ground on a new radar manufacturing facility at the Shoolagiri Industrial Area in Tamil Nadu, India, on May 4, 2026. The event marked a significant milestone for their joint venture, ELTX Systems Pvt. Ltd., and was attended by leadership from ELTA and DCX Systems, alongside government officials, industry representatives, and key stakeholders.

Strategic Vision and Facility Purpose

The new facility represents a major step in advancing India's Atmanirbhar Bharat ("Make in India") vision, reinforcing the country's strategic shift toward self-reliance in defense manufacturing. It is designed to serve as a centre for the manufacturing, integration, and testing of advanced radar systems, supporting both domestic and international defense requirements, while significantly strengthening India's indigenous design, development, and production capabilities.

Key details of the facility and joint venture are outlined below:

ELTX Systems: Enabling Technology Transfer

ELTX Systems is designed to enable the transfer of knowledge and advanced technologies of high-end defense systems, including airborne radars and ground-based systems. The joint venture reflects a shared commitment to localizing critical capabilities, deepening industrial cooperation, and supporting India's ambition to become a global hub for advanced defense manufacturing.

The facility is designed with scalable infrastructure and will operate under stringent quality and security standards to meet evolving operational requirements. Through ELTX Systems, the partnership aims to support various Armed Forces programs. Once operational, the facility will enhance capabilities in the following areas:

• Surveillance and threat detection
• Development of a robust local ecosystem through collaboration with suppliers, startups, and academic institutions
• Job creation and workforce upskilling
• Deeper value addition aligned with national defense priorities

Leadership Perspectives

Boaz Levy, IAI President and CEO, commented on the development: "This break ground marks another significant milestone in IAI's expanding activity in India, carried out in close partnership with the local industry and in full alignment with the Government's 'Make in India' vision. We are proud to take part in joint initiatives that strengthen the defense capabilities of both nations. This collaboration also reflects our shared commitment to advancing technological innovation, fostering local expertise, and further strengthening the long-term strategic partnership between our countries."

Dr. H.S. Raghavendra Rao, Chairman and Managing Director of DCX Systems, added: "This joint venture exemplifies our shared vision of combining global expertise with local manufacturing capabilities. The new facility will enable faster delivery timelines, deeper value addition, and greater alignment with national defense priorities."

IAI's Long-Standing Commitment to India

IAI has made substantial and sustained investments in India's defense ecosystem as part of its long-term commitment to supporting the country's self-reliance goals. These efforts are focused on empowering India to independently operate, maintain, and enhance its defense systems through job creation, workforce upskilling, and the development of a robust local manufacturing base.

For over four decades, IAI has built strong partnerships with India and its Armed Forces, delivering advanced technologies and strategic systems—including air and missile defense systems, unmanned aerial systems, satellites, radars, and intelligence solutions—many of which are operational across India's tri-services and government agencies.