HEG Limited has announced several key board decisions made during its meeting held on April 29, 2026, including the appointment of auditors for the upcoming financial year, director appointment considerations, and approval for security creation to support its subsidiary's credit facilities.

Director Appointment Considerations

The board has considered the appointment of Shri Shekhar Agarwal as a director, noting that he will be attaining the age of 75 years on October 9, 2027 in Financial Year 2027-28. The company confirmed that Shri Shekhar Agarwal is not debarred from holding the office of Director pursuant to any SEBI order or any other authority, and is not related to any other Director and Key Managerial Personnel of the Company.

Auditor Appointments for Financial Year 2026-27

The company's board, acting on recommendations from the Audit Committee, has approved the appointment of three key auditors for different functions.

Cost Auditor Re-appointment

The board re-appointed M/s. N.D. Birla & Co., Cost Accountants as the company's Cost Auditor for Financial Year 2026-27. N.D. Birla & Co. is an established cost accountancy firm based in Ahmedabad, Gujarat, operating since 1976 with branches in New Delhi, Mumbai, Vadodara, and Indore. The firm comprises five highly qualified professional partners and leverages its size and professionalism as strategic advantages in delivering personalized services to clients.

Internal Auditor Appointment

For the Internal Auditor position, the board approved the re-appointment of M/s. S.L. Chhajed & Co. LLP for Financial Year 2026-27. The firm offers comprehensive accounting and financial solutions and has been providing exceptional Outsourced Accounting Processing Services since 1960, demonstrating a proven track record of excellence in the field.

Tax Auditor Re-appointment

The company re-appointed M/s. SCV & Co. LLP, Chartered Accountants as Tax Auditor for Financial Year 2025-26. SCV & Co. LLP was formed through the merger of two distinguished chartered accountancy firms - S.P. Puri & Co. and S.C. Vasudeva & Co. - effective April 1, 2018, and was subsequently converted into a Limited Liability Partnership. Both founding partners, Mr. Puri and Mr. Vasudeva, qualified as Chartered Accountants in the early 1960s and hold prominent positions in the profession, particularly in North India.

Security Creation for Subsidiary

The board also resolved to create security in favor of lenders for TACC Limited, the company's wholly owned subsidiary. This decision follows an earlier intimation dated February 10, 2026, regarding the approval for granting Corporate Guarantee in favor of State Bank of India for credit facilities to be availed by TACC Limited as the borrower.

Regulatory Compliance

All appointments have been made in accordance with the requisite details under Regulation 30 read with Schedule III of the SEBI Listing Regulations, with comprehensive information provided in the company's regulatory filings. These decisions demonstrate HEG Limited's commitment to maintaining robust governance standards and ensuring proper financial oversight across its operations and subsidiary companies.

HEG Limited has filed its annual disclosure with stock exchanges confirming that it does not qualify as a Large Corporate Entity for the financial year ending March 31, 2026. The disclosure was submitted to both BSE Limited and National Stock Exchange of India Limited on April 8, 2026, ensuring compliance with SEBI's regulatory requirements.

Regulatory Compliance Framework

The disclosure was made pursuant to multiple SEBI circulars, including SEBI Circular No. SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021, SEBI Circular No. SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 dated October 19, 2023, and SEBI Master Circular No. SEBI/HO/DDHS/DDHS-PoD/P/CIR/2025/0000000137 dated October 15, 2025. These regulations require entities to annually disclose their Large Corporate Entity status and associated borrowing obligations.

Financial Position and Credit Rating

The company's official disclosure provides comprehensive details about its financial standing and borrowing position:

Large Corporate Entity Classification

HEG Limited confirmed that it does not meet the applicability criteria to be identified as a Large Corporate Entity under Chapter XII of SEBI's operational circulars. This classification is significant as Large Corporate Entities are subject to specific borrowing requirements, including mandatory borrowing through debt securities for a portion of their incremental borrowing. The company's nil outstanding long-term borrowing position supports its non-Large Corporate Entity status.

Company Leadership and Authorization

The disclosure was signed by key company officials, demonstrating proper corporate governance:

Both officials confirmed the company's non-Large Corporate Entity status and the accuracy of the submitted information. The disclosure ensures transparency in the company's borrowing practices and regulatory compliance status for stakeholders and regulatory authorities.