NIBE has signed a Memorandum of Understanding (MoU) with Naval Group France, establishing a strategic partnership focused on naval shipbuilding and advanced maritime technology.

Agreement details

The MoU, signed on September 18, 2026, sets a formal framework for cooperation between NIBE Group and Naval Group. The collaboration covers modern naval technologies including shipbuilding, defence platforms, and autonomous systems. Specific areas of focus include underwater drones, mine countermeasure vessels, submarine systems, and naval weapon launching systems along with their maintenance.

Strategic significance

The partnership aims to strengthen India's self-reliance in naval programs under the Atmanirbhar Bharat Initiative. Naval Group, which has over a decade of presence in India, brings extensive experience in designing and producing submarines and surface ships. NIBE contributes its expertise in delivering integrated defence solutions and indigenous manufacturing capabilities.

Marie-Laure Bourgeois, EVP Sales & Marketing at Naval Group, stated the agreement reflects a shared commitment to developing sovereign and future-ready naval capabilities in India. Ganesh Nibe, Chairman and Managing Director of NIBE Group, noted that NIBE's continued investment in the sector will support the provision of latest-generation naval technologies for the country.

Company profiles

Naval Group is an international naval defence player present across five continents. As of December 31, 2025, the group reported revenue of €4.679 billion and employed 17,170 people. It specializes in the entire lifecycle of vessels, from design to deconstruction, with unique know-how in autonomous systems and underwater weapons.

NIBE Limited and its group companies operate across defence manufacturing, aerospace, naval systems, and space technology. The publicly listed company supports India's strategic autonomy through indigenous development of critical defence systems, including missile launchers, weapon platforms, and counter-UAS solutions.

NIBE Limited has scheduled its 21st Annual General Meeting (AGM) for Tuesday, September 29, 2026. The company proposes a final dividend of ₹1.30 per equity share for FY26 and seeks shareholder approval for material related-party transactions (RPTs) and borrowing limits.

The meeting will be held via Video Conferencing or Other Audio-Visual Means. Shareholders can cast remote e-votes from September 26 to September 28, 2026. The register of members will remain closed from September 23 to September 29, 2026.

Dividend and Corporate Action

The Board recommends declaring a dividend of ₹1.30 per equity share (face value ₹10), representing a 13% payout ratio. If approved at the AGM, the dividend will be paid within 30 days, subject to tax deduction at source. Eligibility is determined by the record date of September 22, 2026.

Related Party Transactions

The AGM agenda includes omnibus approvals for material RPTs with subsidiaries and promoter group companies for the period until the next AGM in 2027. The total proposed transaction limit is approximately ₹1,560.7 crore. These transactions are structured on an arm’s-length basis in the ordinary course of business.

Key proposed RPT limits include:

The company states these transactions facilitate operational synergies, cost optimization, and efficient working capital management within the group ecosystem.

Borrowing and Investment Powers

Shareholders are asked to approve special resolutions authorizing the Board to:

• Borrow funds up to ₹1,000 crore in excess of paid-up capital and free reserves under Section 180(1)(c) of the Companies Act, 2013.
• Create security on company properties to secure loans up to ₹1,000 crore under Section 180(1)(a).
• Provide loans, guarantees, or security to entities in which directors are interested, up to an aggregate outstanding amount of ₹50 crore (Section 185) and ₹1,000 crore (Section 186).

Other Business

The meeting will also transact ordinary business, including:

• Adoption of audited standalone and consolidated financial statements for FY26.
• Re-appointment of Mrs. Ranjana Manoj Mimani as a director retiring by rotation.
• Ratification of remuneration for Cost Auditors M/s. Dhananjay Laxman Gawade & Co., at ₹1.6 lakh for FY27.

Annual Report Access and KYC Update Reminder

On September 7, 2026, Nibe Limited dispatched letters to shareholders who do not have registered email addresses with the company, its Registrar and Transfer Agent (Bigshare Services Pvt Ltd), or Depository Participants. This communication informs them that the Annual Report for FY2025-26 is available electronically on the company website ( www.nibelimited.com ) and the stock exchange websites ( www.bseindia.com and www.nseindia.com ).

The company reminded physical shareholders to update their KYC details pursuant to SEBI Master Circular No. SEBI/HO/MIRSD/POD-1/P/CIR/2024/37 dated May 7, 2024. Shareholders are requested to provide PAN, address with PIN code, mobile number, bank account details, specimen signature, and nomination choice. While updating email ID is optional, the company encourages it to facilitate online services and support green initiatives. Forms for nomination and KYC updates are available on the RTA website.