Texmaco Rail & Engineering Limited has completed the dispatch of its postal ballot notice to shareholders and published newspaper advertisements confirming the process for seeking approval of a significant fund reallocation from its preferential issue proceeds.

Notice Dispatch and Publication Details

The company has successfully dispatched the postal ballot notice on March 13, 2026, exclusively through email to all eligible shareholders. In compliance with regulatory requirements, newspaper advertisements were published on March 14, 2026, in Financial Express (English) and Aajkaal (Bengali) editions, informing shareholders about the completion of notice dispatch.

Fund Reallocation Proposal

The company seeks to reallocate ₹103.43 crores from the original capital expenditure object to funding working capital requirements. This represents a substantial shift from the company's initial plan to expand manufacturing capacity for Rolling Stock and Rolling Stock components at facilities in Paradip, Odisha, and Kolkata/Howrah, West Bengal.

E-Voting Process and Timeline

The postal ballot will be conducted exclusively through remote e-voting, with KFin Technologies Limited serving as the service provider. The company has appointed Mr. Niraj Agrawal, Practicing Chartered Accountant (ICAI Membership No. 060313), as the scrutinizer to conduct the process in a fair and transparent manner.

Regulatory Compliance and Access

The notice is available on multiple platforms including the company's website at www.texmaco.in , stock exchanges (BSE and NSE), and KFin's portal. Individual shareholders holding shares in demat mode can vote through their demat accounts, while those in physical mode can access KFin's e-voting platform. The company has emphasized updating email addresses and mobile numbers with respective Depository Participants for seamless access.

Preferential Issue Background

The company had originally raised funds through a preferential issue of 77,72,020 convertible warrants at ₹193 per warrant. However, actual funds received were reduced to ₹142.77 crores after Samena Green Limited failed to exercise 3,74,750 warrants, resulting in forfeiture of ₹1.80 crores. CARE Ratings Limited continues as the appointed Monitoring Agency for overseeing the utilization of preferential issue proceeds, with unutilized funds currently held in government securities, money market instruments, and deposits with scheduled commercial banks.

Texmaco Rail & Engineering Limited has secured a substantial order worth Rs 2.13 crore from ECOR for specialized railway infrastructure works. The contract involves TRD (Track Renewal and Development) works at NMDC Nagarnar steel plant, including NSL SSP components, marking another significant addition to the company's order book.

Order Details and Specifications

The comprehensive contract encompasses TRD works specifically designed for NMDC Nagarnar steel plant operations. The project includes NSL SSP (Nagarnar Steel Limited Steel Service Provider) components, indicating the specialized nature of the railway infrastructure requirements.

Regulatory Compliance and Transparency

The company has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. The announcement confirms this is a domestic contract with no related party transactions involved.

Key Contract Terms

The order specifies completion of all works within 11 months from the date of Letter of Acceptance issuance. The contract value of Rs 2.13 crore excludes applicable taxes, representing the base consideration for the specialized railway infrastructure services.

Corporate Governance Aspects

Texmaco Rail & Engineering has confirmed that neither promoter groups nor group companies have any interest in ECOR, the entity awarding the contract. This ensures the transaction maintains arm's length principles and regulatory compliance standards.

The order strengthens the company's position in the railway infrastructure sector, particularly in specialized steel plant railway connectivity projects. The 11-month execution timeline provides a clear framework for project delivery and revenue recognition over the specified period.