Isgec Heavy Engineering Ltd. has made a strategic move into the renewable energy sector by signing an agreement to acquire a 26% stake in FPEL HR1 Energy Private Limited. This acquisition is part of Isgec Heavy Engineering's efforts to meet its green energy needs and optimize energy costs.

Key Details of the Acquisition

Project and Company Details

FPEL HR1 Energy Private Limited is setting up a solar power project on a captive basis in Ramanagar Village, Odhan, Mandi Kalanwali Tehsil, Sirsa District, Haryana. The project aims to generate and supply solar power energy.

Transaction Structure

Isgec Heavy Engineering has entered into two key agreements:

1. Solar Power Purchase Agreement
2. Share Subscription and Shareholders' Agreement

These agreements outline the terms of Isgec Heavy Engineering's investment and future power purchase arrangements.

Regulatory Compliance

The company has duly informed the stock exchanges about this acquisition in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The transaction is not classified as a related party transaction, and no promoter or promoter group companies have any interest in FPEL HR1 Energy Private Limited.

Impact and Outlook

This strategic investment aligns with the growing trend of industrial companies investing in renewable energy sources. For Isgec Heavy Engineering, this move represents a step towards sustainability and potentially more cost-effective energy solutions for its operations.

As the renewable energy sector continues to expand in India, such investments by established industrial players could play a crucial role in accelerating the adoption of clean energy technologies and supporting the country's green energy targets.

Isgec Heavy Engineering Limited, a prominent player in the heavy engineering sector, successfully concluded its 92nd Annual General Meeting (AGM) on September 16, 2025. The virtual meeting, which lasted from 11:00 AM to 11:43 AM, saw active participation from shareholders, with all ten proposed resolutions receiving approval.

Key Highlights

• Shareholder Participation: Out of 38,550 shareholders on record, 84 attended the AGM through video conferencing, including five promoters and 79 public shareholders.
• Voting Turnout: 80.97% of outstanding shares participated in the voting process, which included both remote e-voting and e-voting during the meeting.
• Financial Statements: Shareholders approved the adoption of both standalone and consolidated financial statements for the fiscal year ending March 31, 2025.
• Dividend Declaration: A dividend of Rs. 5.00 per equity share was declared and approved for the financial year 2024-25.

Management Restructuring

The AGM marked significant changes in the company's leadership structure:

1. New Independent Directors:

   • Mr. Rajiv Roy Chaudhury (DIN: 03545734)
   • Mr. Vivek Dhir (DIN: 00774349)

2. Re-appointments and Re-designations:

   • Mr. Kishore Chatnani (DIN: 07805465) was re-appointed as a director and re-designated as Joint Managing Director.
   • Mr. Sanjay Gulati (DIN: 05201178) was re-designated as Joint Managing Director.

Other Key Resolutions

• Cost Auditor Remuneration: The shareholders ratified the remuneration for the cost auditors for the financial year ending March 31, 2026.
• Secretarial Auditor: M/s Pramod Kothari & Co., Practicing Company Secretary, was appointed as the Secretarial Auditor of the company.

Voting Results

All resolutions were passed with overwhelming majority:

The strong shareholder support for all resolutions indicates confidence in the company's management and strategic direction. With these key appointments and restructuring, Isgec Heavy Engineering appears well-positioned for its next phase of growth and development.