Nibe Limited has appointed Mr. Rajagopalan Madhavan as an Independent Director for a term of five years effective March 25, 2026. The appointment follows the conclusion of a postal ballot process where shareholders passed the requisite resolution with 99.99% of votes polled. The decision was confirmed based on the results declared on June 19, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Mr. Rajagopalan Madhavan was initially appointed as an Additional Director in the capacity of Non-Executive, Independent Director by the Board in its meeting held on March 25, 2026. He is a Mechanical Engineer graduate from NIT Raipur with a postgraduate M. Tech from IIT Madras. Previously, he served as the chairman and Managing Director of Hindustan Aeronautics Limited. He is not related to any of the Directors of the Company and is not debarred from holding the office of Directors by virtue of any SEBI order or order of any other such Authority.

The postal ballot was conducted in accordance with Sections 108 and 110 of the Companies Act, 2013, and the relevant SEBI Listing Regulations. Mr. Gaurav Thakur, a Practicing Cost Accountant, was appointed as the Scrutinizer to oversee the process. The voting was conducted electronically via the NSDL e-voting portal from May 20, 2026, to June 18, 2026.

Voting Results Summary

A total of 81,59,714 votes were polled, representing 54.61% of the total outstanding shares. The record date for determining eligibility was May 15, 2026. The detailed scrutinizer's report has been uploaded to the company's website.

Nibe Limited successfully demonstrated the capabilities of its Garudastra Long Range 120mm Vehicle Mounted Mortar and Bomb System to the Indian Army on June 17, 2026. Conducted at the Infantry School, Mhow, the demonstration showcased the system's rapid shoot-and-scoot operations, high rate of fire, and precision engagement capabilities. The event underscores the company's commitment to delivering next-generation firepower solutions under the Atmanirbhar Bharat vision.

The demonstration featured a tactical Shoot & Scoot mission where the Garudastra occupied a temporary firing position and came into action in under 30 seconds. The system engaged the target with two rounds in less than 15 seconds before displacing from the location within 15 seconds to evade simulated counter-battery fire. It subsequently relocated to its main firing position and re-engaged the target with equal accuracy.

Garudastra displayed an exceptional rate of fire, with a two-man crew firing 12 rounds in 60 seconds while maintaining outstanding accuracy. The system also successfully executed a Multiple Rounds Simultaneous Impact (MRSI) mission, where three rounds fired on different trajectories struck the target simultaneously to deliver concentrated effects.

The highlight of the demonstration was the firing of Precision-Guided Munition using GPS and Laser guidance. A round fired from long range achieved a direct hit on a 3 m × 3 m target, demonstrating exceptional precision. This capability represents a significant enhancement in battlefield effectiveness, survivability, and operational flexibility for modern combat operations.

Nibe Limited is a defence manufacturer specializing in next-generation strategic defense systems, heavy engineering, ammunition manufacturing, and space technologies. The company bridges the gap between traditional field artillery and advanced missile systems through local high-tech manufacturing and global technology integrations.