Isgec Heavy Engineering Ltd. has successfully completed its strategic acquisition of a 26% stake in FPEL HR1 Energy Private Limited, marking a significant milestone in the company's renewable energy expansion. The company received confirmation of the equity share allotment on December 17, 2025, following earlier agreements signed in October and updated in December.

Acquisition Details

Project Overview

FPEL HR1 Energy Private Limited is developing a solar power project on a captive basis in Ramanagar Village, Odhan, Mandi Kalanwali Tehsil, Sirsa District, Haryana. The project is designed to generate and supply solar power energy, aligning with Isgec Heavy Engineering's objectives to meet green energy needs and optimize energy costs.

Transaction Framework

The acquisition was structured through two comprehensive agreements:

These agreements establish the framework for Isgec Heavy Engineering's investment and future power purchase arrangements from the solar facility.

Regulatory Compliance and Disclosure

Isgec Heavy Engineering has maintained full regulatory compliance throughout the acquisition process. The company filed the completion update with BSE Ltd. and National Stock Exchange of India Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key compliance highlights include:

• Transaction classified as non-related party transaction
• No promoter or promoter group interest in FPEL HR1 Energy Private Limited
• Complete disclosure timeline from initial agreement to completion

Strategic Impact

This completed acquisition represents Isgec Heavy Engineering's commitment to sustainable energy solutions and cost optimization. The investment positions the company to benefit from renewable energy generation while supporting India's broader green energy transition. The solar project's captive nature ensures dedicated power supply for the company's operational requirements, potentially reducing long-term energy costs and carbon footprint.

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.