Shakti Pumps (India) Limited has announced a strategic investment of ₹5 crore in its wholly owned subsidiary, Shakti Energy Solutions Limited, to establish a greenfield solar manufacturing facility. The investment, disclosed under Regulation 30 of SEBI listing regulations, aims to set up a high-efficiency Solar DCR cell and Solar PV modules manufacturing plant in Pithampur, Madhya Pradesh.

Investment and Facility Details

The comprehensive investment will support the development of a substantial solar manufacturing operation with significant production capacity.

Subsidiary Performance and Background

Shakti Energy Solutions Limited, incorporated on 06th September 2010, has demonstrated strong growth in recent years. The subsidiary currently manufactures solar structures and deals in solar rooftop solutions.

Regulatory and Transaction Structure

The investment does not fall under related party transactions despite being made in a wholly owned subsidiary. The company has confirmed that no government or regulatory approvals are required for this investment. The investment will be made through equity shares issued by Shakti Energy Solutions Limited, with shares to be issued from time to time as per the agreement.

Strategic Expansion into Solar Manufacturing

This investment represents Shakti Pumps' strategic expansion into solar energy manufacturing, leveraging its subsidiary's existing expertise in solar structures and rooftop solutions. The focus on DCR-compliant products aligns with domestic content requirements, positioning the company to capitalize on India's growing solar energy sector. The 2.20 GW production capacity represents a substantial manufacturing capability in the renewable energy space.

Shakti pumps (India) Limited has successfully completed the appointment of Mrs. Bela Bharatendu Jani as Non-Executive Woman Independent Director through a comprehensive postal ballot process. The company officially announced the voting results and scrutinizer's report on March 20, 2026, following the conclusion of e-voting on March 19, 2026.

Overwhelming Shareholder Support

The special resolution for appointing Mrs. Bela Bharatendu Jani (DIN: 11539694) as Non-Executive Woman Independent Director received exceptional shareholder support. The voting results demonstrate strong confidence in the appointment:

Postal Ballot Process Timeline

The postal ballot process was conducted in accordance with Section 110 of the Companies Act, 2013, and related regulations. The e-voting facility was provided by Central Depository Services (India) Limited (CDSL), enabling shareholders to participate remotely.

Category-wise Voting Pattern

The voting pattern across different shareholder categories revealed unanimous institutional support and strong promoter backing for the appointment:

Official Scrutinizer Report

Manish Maheshwari of M. Maheshwari & Associates, Company Secretaries (FCS 5174, CP 3860), served as the appointed scrutinizer for the postal ballot process. The scrutinizer confirmed that all procedural requirements under the Companies Act, 2013, and SEBI regulations were properly followed. The voting process was conducted transparently with appropriate witness presence during the unblocking of electronic votes on March 19, 2026.

Regulatory Compliance and Documentation

The company ensured full compliance with regulatory requirements by issuing public advertisements in Business Standard (Hindi) and Free Press (English) editions dated February 18, 2026. Company Secretary Ravi Patidar formally communicated the voting results to both NSE and BSE on March 20, 2026, as required under Regulation 44(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The voting results and scrutinizer's report have been made available on the company's website at www.shaktipumps.com .

The appointment strengthens the company's board composition with the addition of an independent woman director, aligning with corporate governance best practices and regulatory requirements for board diversity.