NIBE Limited has successfully concluded its 1st Extra Ordinary General Meeting (EGM) held on January 22, 2026, with shareholders unanimously approving key resolutions for capital raising through preferential allotment. The meeting was conducted through video conferencing from 03:00 P.M. to 03:27 P.M. IST, in compliance with MCA circulars and SEBI regulations.

Meeting Overview and Participation

The EGM witnessed significant shareholder participation with detailed voting statistics across different categories:

The remote e-voting facility was available from January 19, 2026 at 10:00 A.M. till January 21, 2026 at 5:00 P.M., with National Securities Depository Limited (NSDL) serving as the e-voting platform provider.

Resolution 1: Issue of Convertible Warrants on Preferential Basis

The first special resolution regarding the issue of convertible warrants on preferential basis received unanimous approval from all voting categories:

Resolution 2: Issue of Equity Shares on Preferential Basis

The second special resolution for issuing equity shares on preferential basis also achieved complete consensus among shareholders:

Scrutinizer's Report and Compliance

CS Dhirendra Maurya of D Maurya and Associates served as the appointed scrutinizer for the e-voting process. The scrutinizer's report dated January 23, 2026, confirmed that both special resolutions were passed with requisite majority. Key highlights from the scrutinizer's findings include:

• 37 members participated through remote e-voting
• 1 member cast votes during the EGM
• No invalid votes were recorded for either resolution
• Complete compliance with Companies Act, 2013 and SEBI regulations

Regulatory Compliance and Documentation

The company ensured full regulatory compliance by publishing advertisements in Business Standard (English) and Navrashtra (Marathi) on December 31, 2025. The EGM notice was made available on the company's website and stock exchange platforms. Voting results and the scrutinizer's report have been uploaded to the company's website at www.nibelimited.com and NSDL's e-voting portal for public access.

The unanimous approval of both resolutions demonstrates strong shareholder confidence in the company's capital raising initiatives through preferential allotment of convertible warrants and equity shares.

NIBE Ltd shares gained up to 2% in trading following a significant regulatory approval that strengthens the company's position in India's defence manufacturing sector. The aerospace and defence component manufacturer received crucial authorization from the Ministry of Home Affairs through its subsidiary.

Manufacturing License Approval

NIBE Defence and Aerospace Limited (NDAL), a subsidiary of NIBE Ltd, has secured a manufacturing license from the Ministry of Home Affairs for firearms and ammunition production. This authorization represents a strategic diversification into defence manufacturing capabilities.

Recent Defence Order

The company recently secured a substantial contract from the Indian Army, demonstrating strong order book momentum in the defence sector.

Financial Performance Challenges

Despite positive regulatory developments, NIBE Ltd faces significant operational headwinds in its recent quarterly performance. The company's Q2FY26 results reflect substantial stress across key financial metrics.

The sharp revenue decline and profitability reversal highlight significant near-term business challenges, with weak operating leverage and lower volumes contributing to the deteriorated performance.

Market Position and Stock Performance

NIBE Ltd, with a market capitalization of ₹1,742.98 crore, was trading at ₹1,201.95 per share, representing a decrease of approximately 1.80% from the previous closing price of ₹1,220.90. The company specializes in precision fabrication, structural assemblies, and complex systems for military applications, positioning itself within India's defence indigenization initiative.

The manufacturing license approval strengthens NIBE's long-term defence sector positioning despite current operational challenges, providing enhanced capabilities in firearms and ammunition production alongside its existing aerospace and defence component manufacturing operations.