Texmaco Rail & Engineering Limited has received shareholder approval for the Texmaco Long Term Incentive Plan (LTIP) Scheme 2026. The special resolution was passed through a postal ballot process conducted exclusively via remote e-voting, concluding on May 24, 2026. The approval enables the company to implement the long-term incentive scheme for eligible employees.

The voting process was managed by M/s KFin Technologies Limited, acting as the authorized agency. Scrutiny of the votes was conducted by Niraj Agrawal, a practising Chartered Accountant and Partner at H. K. Agrawal & Co. The remote e-voting facility was open from 9:00 a.m. on April 25, 2026, until 5:00 p.m. on May 24, 2026. Physical postal ballot forms were not dispatched to members due to exemptions provided by Ministry of Corporate Affairs circulars.

A total of 189,728,212 votes were polled, representing 46.63% of the total outstanding shares. The resolution secured the requisite majority required for a special resolution, with 182,077,999 votes cast in favour and 7,650,213 votes against. No invalid votes were recorded during the process.

Voting Results Breakdown

The detailed voting pattern across different shareholder categories highlights the level of support for the resolution.

Procedural Details

The record date for determining eligibility was April 17, 2026, with 384,240 shareholders on record. To ensure wide participation, the company published advertisements in the Financial Express and Aajkal newspapers on April 22 and April 25, 2026. The scrutinizer noted that one member holding 1,739 shares exercised voting rights for only one share, with the remaining 1,738 shares classified as 'less voted'. Additionally, 8,001 abstained votes were not considered as votes cast.

Texmaco Rail & Engineering Limited has secured a Letter of Award from Vedanta Aluminium Metal Limited for the supply of railway wagons. The order, valued at Rs 28.58 Crores including taxes, was disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 on May 23, 2026.

Order Details

The contract involves the supply of specific rolling stock equipment. According to the filing, the company will manufacture and deliver one rake of BTAP Alumina transportation wagons and one brake van, also referred to as a Guard Vehicle. The order has been classified as a domestic transaction.

Execution Timeline

The company is required to execute the order within a defined timeframe. The stipulated period for completion is within six months from the date of the Notice to Proceed (NTP). This timeline aligns with standard delivery schedules for such railway engineering contracts.

Key Contract Particulars

The following table summarizes the key details of the order as disclosed:

The confirmation regarding related party transactions indicates that the order does not involve the promoter, promoter group, or group companies. This development adds to the company's order book in the railway infrastructure segment.