Lakshmi Electrical Control Systems Limited shareholders approved all eight resolutions proposed at its 45th Annual General Meeting held on July 31, 2026. The resolutions, which included the appointment of NRD Associates as statutory auditors and the ratification of material related-party transactions, received overwhelming support with nearly 99.99% affirmative votes on most items. This outcome ensures continuity in audit oversight and validates ongoing business relationships with group entities for the coming fiscal year.

The meeting was scrutinized by B. Krishnamoorthi, a practicing Chartered Accountant appointed under Section 108 of the Companies Act, 2013. Voting was conducted through remote e-voting via National Securities Depository Limited (NSDL) from July 28 to July 30, 2026, and through physical ballot forms at the venue. As of the cut-off date of July 24, 2026, there were 9,105 shareholders eligible to vote. The scrutinizer confirmed that no poll papers were invalid and that the process complied with Rule 20 of the Companies (Management and Administration) Amendment Rules, 2015.

Voting Results Summary

Shareholders also approved the re-appointment of D. Senthilkumar (DIN: 00006172) as a director retiring by rotation. Additionally, the company secured approval for material related-party transactions with LMW Limited (formerly Lakshmi Machine Works Limited) and Lakshmi Precision Technologies Limited. These approvals are necessary for continuing commercial dealings between Lakshmi Electrical Control Systems and its group companies in compliance with regulatory norms.

The amendment to Article 84 of the Articles of Association, passed as a special resolution, updates provisions regarding the appointment and remuneration of directors to align with the Companies Act, 2013. This change empowers the Board to appoint individuals to key executive roles such as Chairman, Vice Chairman, or Managing Director, subject to shareholder approval for remuneration.

Lakshmi Electrical Control Systems Limited has approved a consortium arrangement with BIEMSYS Private Limited to manufacture Electrical Vehicle (EV) chargers and establish public charging stations. This decision serves as a pre-commitment to apply for a tender floated by New & Renewable Energy Development Corporation of Andhra Pradesh Limited. The company will proceed with the incorporation of a subsidiary and the implementation of the consortium terms only if the tender is successfully awarded to it by the state corporation.

The Finance and Operations Committee of the Board approved the incorporation of a subsidiary as part of the consortium arrangement. The new entity is proposed to be incorporated as a subsidiary of Lakshmi Electrical Control Systems Limited , with the company holding 51% of the equity share capital. The initial investment towards equity share capital is proposed to be ₹51,000. The incorporation is subject to the successful award of the tender and necessary approvals from the Registrar of Companies.

The consortium agreement with BIEMSYS Private Limited outlines a share exchange ratio of 51:49 between the two entities. The scope of the business operation includes the manufacturing of EV chargers and the establishment of charging stations. The agreement is domestic in nature, and no consideration has been paid or received as of the approval date. The proposed new company is expected to have an initial paid-up share capital of ₹1,00,000.

Key Details of the Proposed Subsidiary

Key Details of Consortium Agreement