Suprajit Engineering has entered into a Power Purchase Agreement and a Share Acquisition Agreement with Amplus Green Power Private Limited and Amplus Energy Solutions PTE Ltd. The company will invest ₹38.40 lakh to acquire a minimum 26% equity stake, acting as a captive consumer for solar power generated at a plant in Uttar Pradesh.

The transaction, disclosed on October 15, 2026, involves subscription of securities in one or more tranches. Suprajit will join other captive users to collectively hold the requisite minimum 26% equity share capital of the project company. This arrangement is designed to reduce electricity costs at Suprajit’s manufacturing units in Uttar Pradesh and increase the share of renewable energy in its power consumption mix.

Transaction Details

The acquisition is structured as a cash consideration deal. The investment allows Suprajit to source solar power directly from the project located in Uttar Pradesh. The transaction is not classified as a related party transaction, and neither the promoter nor promoter group companies hold any interest in the entity being acquired.

Strategic Objectives

The primary objective of this acquisition is to enhance the company’s source of renewable power supply. By participating as a captive consumer, Suprajit aims to achieve two key outcomes:

• Reduction in the cost of electricity consumed at manufacturing facilities.
• Increase in the share of renewable energy in total power consumption, supporting sustainability goals.

The transaction is subject to customary conditions precedents and is expected to be completed within four months of the agreement date. No specific governmental or regulatory approvals were noted as applicable for this acquisition in the disclosure.

Suprajit Engineering has released the scrutinizer's report confirming that all resolutions at its 41st Annual General Meeting were passed with requisite majority. The meeting, held on September 12, 2026, saw shareholders approve the adoption of financial statements and a total dividend payout of ₹3.50 per share for FY26.

The company declared a final dividend of ₹2.00 per share, adding to the interim dividend of ₹1.50 per share already confirmed. Voting participation was robust, with 93,827,228 votes polled out of 137,179,346 outstanding equity shares as on the record date of September 5, 2026, representing a 68.40% turnout.

Key Resolutions Passed

Shareholders approved four ordinary resolutions during the meeting:

• Adoption of audited standalone and consolidated financial statements for FY26
• Confirmation of interim dividend payment and declaration of final dividend
• Reappointment of K. Ajith Kumar Rai as director upon retirement by rotation
• Ratification of remuneration for cost auditors G N V and Associates for FY27

Voting Results Breakdown

The voting results indicate strong support from promoter and institutional investors across all key agenda items.

Promoter and Promoter Group holdings stood at 62,090,994 shares. The promoter group voted unanimously in favour of all resolutions, with 100% support recorded for each item. Public institutions also showed overwhelming support, particularly for the dividend declaration and financial statement adoption.

The reappointment of K. Ajith Kumar Rai received 97.53% support overall, with dissent primarily coming from public institutional investors who cast 2,312,073 votes against the resolution. This represents approximately 8.18% dissent within the public institutional category for this specific resolution.

Board Attendance and Scrutiny

The meeting was chaired by K. Ajith Kumar Rai, Chairman. Other key attendees included Mohan N. S., Managing Director & Group CEO, and Akhilesh Rai, Director & Chief Strategy Officer. Medappa Gowda J., CFO & Company Secretary, provided guidance on the virtual meeting process.

Parameshwar Bhat served as the scrutinizer for remote e-voting and ballot voting conducted during the AGM. The scrutinizer's report confirms compliance with Regulation 44 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, and Section 108 of the Companies Act, 2013.

What the Numbers Show

The near-unanimous approval of the dividend resolution (99.99% in favour) underscores strong shareholder alignment with the board's capital return strategy. The combined payout of ₹3.50 per share reflects a structured approach to shareholder returns, splitting the distribution between interim and final dividends. The high promoter voting participation (99.95% of promoter shares polled) further reinforces management confidence in the company's financial position and strategic direction for FY27.