Earkart Limited has approved the incorporation of a wholly owned subsidiary named SkillNest Educations Private Limited. The move aims to expand business operations into the education sector through a dedicated platform for educational institutions and related services.

The Board of Directors granted approval during a meeting held on September 24, 2026. The newly formed entity will operate in the education-related services industry, which differs from Earkart’s existing core business activities. This strategic step is intended to explore new opportunities and create a separate operational base for education-focused initiatives.

Subsidiary Details and Capital Structure

The proposed subsidiary will be incorporated under the Companies Act, 2013, subject to approval from the Registrar of Companies. As a newly formed entity, SkillNest Educations currently has no operations, turnover, or net worth. The company will hold 100% equity in the subsidiary, making it a wholly owned entity.

The initial paid-up capital is set at ₹1 lakh. Earkart will subscribe to 9,999 equity shares, while one share will be held by Mr. Rahul Salesha as a nominee. The remaining details regarding the capital structure are outlined below:

Operational Scope and Strategic Intent

SkillNest Educations will focus on maintaining, managing, promoting, and expanding educational institutions, centres, and colleges. It will act as a proxy or agent for existing trusts and societies, providing operational support such as supply chain management, consulting, development, day-to-day management, procurement, accounting, and human resource management.

This diversification marks a shift into a non-core sector for Earkart. By establishing a separate legal entity, the company isolates the risks and operational complexities associated with the education sector from its primary business lines. The incorporation falls under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency regarding material events affecting shareholders.

Related Party Implications

Upon incorporation, SkillNest Educations will become a subsidiary of Earkart and consequently a related party under the Companies Act, 2013 and SEBI Listing Regulations. The filing clarifies that except for this structural relationship, the promoters, promoter group, and group companies have no other interest in the transaction. The investment is made at arm's length, with no additional benefits conferred to related parties beyond standard subsidiary ownership.

Earkart Limited concluded its 5th Annual General Meeting (AGM) on 15 July 2026 through Video Conferencing (VC) and Other Audio Visual Means (OAVM), approving all proposed resolutions with 100% shareholder support. The meeting, chaired by Mr. Rohit Misra, Chairman and Managing Director, sought approval for the audited financial statements for the financial year ended 31 March 2026, the re-appointment of a director, and the ratification of the Amended and Restated Earkart ESOP Scheme 2025- Amended 2026. Seven shareholders attended the meeting electronically, comprising four from the promoter group and three from the public category.

The remote e-voting process, conducted by Central Depository Services (India) Limited (CDSL), saw 7,812,575 valid votes cast, representing 56.80% of the total outstanding shares. Ms. Nikita Kothari, a Practising Company Secretary and Proprietor of M/s. N Kothari & Associates, served as the Scrutinizer to oversee the voting process. The detailed Scrutinizer's Report confirms that all resolutions were passed with the requisite majority.

Voting Results Summary

Shareholder Participation

The statutory auditors' report contained no qualifications, while qualifications in the secretarial audit report were addressed through management representations in the Directors' Report. The voting results have been submitted to BSE Limited and are available on the company's website.