Triveni Engineering & Industries Ltd. (TEIL) disclosed that its associate, Triveni Power Transmission Ltd. (TPTL), has completed the allotment of 7,34,54,338 fully paid-up equity shares of ₹2 each to eligible TEIL shareholders as of the record date of July 22, 2026. This action, part of the Composite Scheme of Arrangement under Sections 230 to 232 of the Companies Act, 2013, changes TPTL’s status from a subsidiary to an associate of TEIL. The move aligns with regulatory requirements under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, following observation letters from BSE Limited and National Stock Exchange of India Ltd. dated August 2025.

The Board of Directors of TPTL met on July 28, 2026, to approve these developments alongside significant governance changes. Directors Geeta Bhalla and Suresh Taneja resigned from their positions with effect from the closure of business hours on July 28, 2026, citing the implementation of the Scheme and consequent board reconstitution. Their resignations were accepted by the Board as part of the transition process required under the merger framework.

Key Appointments

The Board appointed Tarun Sawhney as Managing Director, designated as Vice Chairman & Managing Director, and Key Managerial Personnel (KMP) for a term of five years, subject to shareholder approval. Sawhney, who holds an MBA from Wharton School and a master’s degree from Emmanuel College, Cambridge, brings over 25 years of experience in sugar, ethanol, and industrial gearboxes. He is related to existing directors Dhruv M. Sawhney (father) and Nikhil Sawhney (brother).

Additionally, the Board approved the appointment of several other KMPs and Senior Management Personnel (SMPs) effective July 28, 2026:

Dhruv M. Sawhney was also appointed as Non-Executive Chairman of the Board. The Board further adopted necessary policies to comply with the Companies Act, 2013, and SEBI Listing Regulations, given TPTL’s proposed listing pursuant to the Scheme.

Governance Updates

Ernst & Young (EY) was appointed as the Internal Auditor for the Financial Year 2026-27 based on the Audit Committee’s recommendation. The disclosure was made in compliance with Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026, ensuring continuous disclosure of material information regarding TPTL to the Stock Exchanges.

Triveni Engineering & Industries will organize its Q1 FY27 results conference call for analysts and investors on July 30, 2026, at 12:00 pm IST. The meeting will allow stakeholders to discuss the company's financial performance for the first quarter of the fiscal year. Senior members of the management team will be present on the call to address queries.

The announcement was made pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015. The company has provided specific dial-in numbers for participants across various regions, including India, Singapore, Hong Kong, the USA, and the UK.

Participants are requested to dial in 10 minutes in advance to ensure a timely start. Investors are also advised to pre-register for the call to facilitate instant login.

Conference Call Details

For further information, investors may contact Kumar Sunit, Head - Investor Relations & Value Creation, or the firm CDR India.