Precision Electronics shareholders approved the disposal of its Noida land and building alongside two material related-party transactions at its 47th Annual General Meeting held on September 16, 2026.

The meeting, conducted via video conferencing from its registered office in New Delhi, also saw the re-appointment of Executive Chairman Ashok Kumar Kanodia. All resolutions were passed as ordinary or special resolutions depending on their nature.

Key Resolutions Passed

The board presented five items for shareholder approval. The most significant operational move was the special resolution to sell the company's property located at Plot No. 10 & 11, Block-D, Sector-3, Noida, Gautam Budh Nagar, Uttar Pradesh.

Two ordinary resolutions addressed material related-party transactions:

• Approval of a transaction with Victora Stock-Invest Private Limited.
• Approval of a transaction with Victura Technologies Private Limited, formerly known as Victora Auto Private Limited.

Additionally, shareholders adopted the audited financial statements for the fiscal year ended March 31, 2026. The statutory auditor’s report contained no adverse qualifications or observations.

Governance and Attendance

A quorum of 67 members was present for the meeting. Key attendees included Managing Director Nikhil Kanodia, CFO Manmohan Singh, and Independent Directors Preeti Grover, Dinesh Kumar Batra, and Deepto Roy.

Mr. Ashok Kumar Kanodia vacated the chair during the consideration of his own re-appointment, with Independent Director Ms. Preeti Grover taking over the proceedings for that specific agenda item.

What the Numbers Show

The clean audit opinion for FY26 indicates compliance with regulatory standards, while the approval of related-party transactions suggests ongoing strategic alignments within the corporate group. The disposal of the Noida asset may signal a balance sheet optimization strategy, though specific financial impacts were not detailed in the AGM proceedings.

Precision Electronics will hold its 47th Annual General Meeting on Wednesday, September 16, 2026. The meeting seeks approval for a ₹30 crore related-party loan, a ₹25 crore transaction limit with another affiliate, and the sale of its Noida property.

The company published the intimation in newspapers on August 22, 2026, and filed its annual report for FY25-26 with the BSE on August 24, 2026. On the same day, the company dispatched letters containing weblinks to the AGM notice and annual report to physical shareholders who have not registered email addresses. The meeting will be conducted via video conferencing or other audio-visual means starting at 11:00 am.

Meeting Details

Shareholders holding shares as of the cut-off date, Wednesday, September 9, 2026, are eligible to vote. The register of members will remain closed from Thursday, September 10, 2026, to Wednesday, September 16, 2026. Remote e-voting begins on Saturday, September 12, 2026, at 9:00 am and ends on Tuesday, September 15, 2026, at 5:00 pm.

Voting Process

Members can exercise their voting rights via remote e-voting or e-voting on the day of the meeting. Login credentials will be sent to registered email addresses. Physical shareholders must update their email details with the Registrar and Share Transfer Agent. The annual report and notice are available on the company website and stock exchange portals.

Key Agenda Items

The AGM will transact several ordinary and special business items, including director re-appointment and material related-party transactions.

Related-Party Transactions

The board seeks approval for two major related-party transactions:

• Victora Stock-Invest Private Limited: Approval to obtain unsecured loans up to an aggregate value of ₹30 crore in one or more tranches. The loan carries an interest rate of 10% per annum, payable quarterly. This replaces the previous limit of ₹25 crore valid until September 30, 2026. The transaction represents 38% of the company’s consolidated turnover for FY25-26.
• Victura Technologies Private Limited: Approval for transactions including purchase/sale of goods, services, and fixed assets up to an aggregate value of ₹25 crore. This omnibus approval covers the period until the next AGM. The proposed value represents 31.65% of the company’s consolidated turnover for FY25-26.

Asset Disposal

The company proposes a special resolution to sell its land and building located at Plot No. 10 & 11, Block-D, Sector-3, Noida. The property admeasures approximately 4,732.23 square meters. The board intends to utilize the sale proceeds for working capital requirements, capital expenditure, debt reduction, and general corporate purposes. The sale consideration will not be less than the valuation arrived at by an independent registered valuer.

Director Re-appointment

Mr. Ashok Kumar Kanodia (DIN: 00002563), Executive Chairman, retires by rotation and offers himself for re-appointment as a Director.