Oswal Pumps Limited has successfully obtained shareholder approval for the strategic relocation of its new manufacturing facility, with an overwhelming 99.99% of votes cast in favor of the proposal. The postal ballot process, which concluded on December 17, 2025, saw strong participation from shareholders who endorsed the company's plans to relocate the facility for its wholly-owned subsidiary, Oswal Solar Structure Private Limited.

Postal Ballot Results

The voting results demonstrate strong shareholder confidence in the company's strategic decision:

Original Proposal Details

The company had sought shareholder approval to vary the terms of contract mentioned in its IPO prospectus regarding fund utilization. The key aspects of the approved proposal include:

• Relocation Plan: Moving the planned new manufacturing facility for Oswal Solar Structure Private Limited to a new site in Karnal, Haryana
• Fund Allocation: Utilizing IPO proceeds of ₹272.76 crores for setting up new manufacturing units at the proposed location
• Strategic Advantages: The new site offers 28,000 sq. m. compared to the original 13,983 sq. m., providing enhanced operational efficiency

Rationale for Relocation

The management had presented several compelling reasons for the relocation:

1. Proximity Benefits: The new site is adjacent to Oswal Solar's existing facility, offering logistical advantages
2. Expanded Capacity: Larger area allows for optimized plant layout and future scalability
3. Cost Optimization: Expected shared resources and reduced administrative costs
4. Regulatory Efficiency: Minimal new approvals required, streamlining the expansion process

Financial Impact and Fund Utilization

The relocation maintains the total IPO proceeds allocation without altering the committed investment amount:

Voting Process and Compliance

The postal ballot process was conducted in full compliance with regulatory requirements:

• Voting Period: November 18, 2025 (9:00 AM IST) to December 17, 2025 (5:00 PM IST)
• Scrutinizer: Mr. Amit Kumar Shukla, Practicing Company Secretary
• Platform: Remote e-voting through NSDL platform
• Resolution Type: Special Resolution as required under Companies Act, 2013

The company's paid-up equity share capital stands at ₹11.40 crores, divided into 11,39,77,414 fully paid equity shares of face value ₹1 each. The strong approval reflects shareholder confidence in the management's strategic vision and the potential benefits of the proposed relocation for long-term value creation.

Oswal Pumps , a leading player in the solar panel, pumps, and motors industry, has announced its financial results for the second quarter of fiscal year 2026, showcasing robust growth and strong financial performance.

Revenue and Profitability

For the quarter ended September 30, 2025, Oswal Pumps reported revenue from operations of ₹4,852.35 crore, marking a significant 9.4% increase from ₹4,435.60 crore in the previous quarter. This growth demonstrates the company's ability to expand its market presence and meet increasing demand for its products.

The company's net profit for Q2 FY2026 stood at ₹757.71 crore, with earnings per share (EPS) of ₹6.65. This represents a notable improvement in profitability compared to the previous quarter.

Financial Position

Oswal Pumps maintains a strong financial position, with cash reserves of ₹775.16 crore as of September 30, 2025. This robust liquidity provides the company with flexibility for future investments and growth opportunities.

Segment Performance

The company's business primarily focuses on various types of solar panels, pumps, and motors, with the majority of sales occurring within India. While specific segment-wise breakdowns were not provided, the overall revenue growth suggests positive performance across its product lines.

IPO Utilization

Following its successful Initial Public Offering (IPO) earlier in the year, Oswal Pumps has been strategically utilizing the funds raised. As of September 30, 2025, the company has utilized ₹4,776.06 crore out of the total ₹8,415.14 crore raised. Key allocations include:

• ₹2,800.00 crore for repayment of outstanding borrowings
• ₹1,650.02 crore for general corporate purposes
• ₹310.00 crore invested in its wholly-owned subsidiary, Oswal Solar

The remaining ₹3,639.08 crore of unutilized IPO proceeds has been temporarily deployed in fixed deposits with scheduled commercial banks.

Operational Highlights

During the quarter, Oswal Pumps continued to focus on expanding its manufacturing capabilities and market presence. The company's board has also approved the appointment of Mr. Avadesh K. Singh as the President & Chief Operating Officer (COO), effective November 15, 2025, bringing over 37 years of leadership experience in sales and marketing.

Future Outlook

With its strong financial performance, strategic utilization of IPO funds, and expansion initiatives, Oswal Pumps appears well-positioned for continued growth in the solar and pump industries. The company's focus on capital expenditure and investment in its subsidiaries suggests a commitment to long-term expansion and market leadership.