Elecon Engineering Company has published the Notice of Postal Ballot in newspapers on July 1, 2026, seeking shareholder approval for the re-appointment of Mr. Pranav C. Amin as a Non-Executive & Independent Director for a second term of five years. The resolution requires approval through a special resolution via remote e-voting. Mr. Amin, who holds a DIN of 00245099, currently serves as the Managing Director of Alembic Pharmaceuticals Limited.

The Board of Directors, based on the recommendation of the Nomination and Remuneration Committee, approved his appointment as an Additional Director effective June 22, 2026, subject to shareholder approval. He has submitted a declaration confirming he meets the criteria for independence under Section 149(6) of the Companies Act, 2013, and Regulation 16(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Postal Ballot Schedule

The company has engaged Link Intime India Private Limited to facilitate the e-voting process. The cut-off date for determining eligibility is June 26, 2026. Shareholders holding shares in either dematerialized or physical form as of this date are entitled to vote.

Director Profile and Remuneration

Mr. Pranav C. Amin holds a degree in Economics/Industrial Management from Carnegie Mellon University and an MBA in International Management from Thunderbird School of Global Management. His expertise lies in management and leadership, with over two decades of experience in the pharmaceutical sector.

During the financial year 2025-26, Mr. Amin drew sitting fees of ₹ 2.22 Lakhs and a commission of ₹ 17.50 Lakhs, aggregating to ₹ 19.72 Lakhs. He attended all 5 Board Meetings held during FY 2025-26 and 1 Board Meeting held up to the completion of his first tenure in 2026. He does not hold any shares in the company.

The Scrutinizer for the postal ballot process is Mr. S. Samdani (FCS: 3677), Partner of M/s. Samdani Shah and Kabra. The results will be announced within two working days of the conclusion of the e-voting period and will be available on the company's website and the stock exchanges.

Elecon Engineering Company Limited reported a 6.2% increase in consolidated revenue to ₹2,366 crores for the financial year ended March 31, 2026, with Profit After Tax reaching ₹341 crores. The company's EBITDA stood at ₹523 crores, representing a margin of 22.1%. The Board of Directors has recommended a final dividend of ₹1.50 per equity share, which, combined with the interim dividend of ₹0.50 paid during the year, results in a total dividend payout of ₹2.00 per share for FY26.

The 66th Annual General Meeting (AGM) of the Members of Elecon Engineering Company Limited was held on Thursday, June 25, 2026, through Video Conferencing and Other Audio Visual Means. The meeting was conducted in compliance with the circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India (SEBI). Mr. Prayasvin B. Patel, Chairman & Managing Director, presided over the meeting, which was attended by key executives including the Company Secretary, Chief Financial Officer, and Statutory Auditors.

Financial Performance and Operational Highlights

The company's consolidated order intake grew 11.8% to ₹2,660 crores, while the closing order book stood at ₹1,292 crores, a year-on-year increase of 36%. The Gear Division recorded revenue of ₹1,699 crores with an EBIT of ₹319 crores and a margin of 18.8%, despite facing temporary headwinds such as deferred customer deliveries and supply chain disruptions. The division's closing order book increased by 53% to ₹894 crores.

The Material Handling Equipment Division delivered a strong performance, with revenue growing 43.6% to ₹667 crores. The division achieved an EBIT of ₹184 crores and a margin of 27.6%, driven by a focused product-led approach and improved execution. The closing order book for this division stood at ₹398 crores.

Strategic Developments and Shareholder Returns

The overseas business demonstrated resilience, with order intake growing by 20% and the closing order book increasing by 50% year-on-year. The company established a presence in Mexico during the year, marking its entry into Latin America. Innovation remains a key focus, with the DSIR-approved R&D centre, staffed by over 105 engineers, driving new product development.

Regarding shareholder returns, the Board recommended a final dividend of ₹1.50 per equity share of face value ₹1 each. This follows the interim dividend of ₹0.50 per equity share declared earlier in the year, bringing the total dividend for FY26 to ₹2.00 per share. The company also reported that approximately 55% of its energy consumption is now sourced from renewable sources, including wind and solar.

Board Resolutions and Appointments

Shareholders approved the adoption of the audited financial statements for the year ended March 31, 2026, and the declaration of the final dividend. The meeting also approved the re-appointment of Mr. Prayasvin B. Patel as Chairman & Managing Director for three years effective from July 1, 2026. Additionally, Mr. Aayush A. Shah was appointed as an Executive Director for three years from October 1, 2026, and Dr. Savan R. Godiawala was appointed as a Non-Executive & Independent Director for five years from April 15, 2026. M/s. CNK & Associates LLP were re-appointed as Statutory Auditors.