Megasoft (formerly known as Sigma Advanced Systems Limited) has announced a postal ballot notice to seek shareholder approval for a key board appointment. The company is proposing the appointment and re-designation of Mr. Cheemarla Damodar Reddy as Whole-Time Director (Executive, Promoter Category) for a term of five consecutive years.

Postal Ballot Details and Timeline

The postal ballot notice, dated February 18, 2026, outlines the voting process for shareholders to approve the special resolution. The company has set specific timelines for the e-voting process to ensure proper shareholder participation.

Shareholders whose names appear in the Register of Members or List of Beneficial Owners as on the cut-off date are entitled to vote on the resolution. The postal ballot notice is being sent electronically to members who have registered their email addresses with the company, Registrar and Share Transfer Agent, or depositories.

Director Appointment and Remuneration Structure

The proposed appointment involves Mr. Cheemarla Damodar Reddy (DIN: 01643638), who was initially appointed as Additional Non-Executive, Non-Independent Director on December 22, 2025. The Board of Directors, in its meeting dated February 14, 2026, approved his re-designation to Whole-Time Director based on the Nomination and Remuneration Committee's recommendation.

The remuneration will be paid even in the absence of adequate profits during his tenure, subject to the provisions of Schedule-V of the Companies Act, 2013.

Professional Background and Expertise

Mr. Cheemarla Damodar Reddy brings substantial experience to the organization with over 37 years of distinguished experience in Electronics and Communication. His professional background includes more than three decades as an entrepreneur and extensive work in the Defence and Aerospace sector.

Key aspects of his professional profile include:

• Extensive expertise in technical project management and strategic business development
• Organizational leadership experience within the Indian Defence and Aerospace ecosystem
• International experience in the United States and Canada
• Pivotal role in advanced technology transfer, particularly in embedded systems and data acquisition systems
• Educational qualifications: M.Tech (Embedded Systems) and Ph.D
• Current shareholding in the company: 75,42,079 shares

Regulatory Compliance and Voting Process

The postal ballot is being conducted in compliance with Sections 110 and 108 of the Companies Act, 2013, and various SEBI regulations. The company has partnered with Central Depository Services (India) Limited (CDSL) to facilitate the e-voting process for shareholders.

Shareholders can access the e-voting facility through multiple channels:

• Individual shareholders with demat accounts can vote through their depository websites (CDSL/NSDL)
• Physical shareholders and non-individual demat holders can use the CDSL e-voting platform at www.evotingindia.com
• The postal ballot notice is available on the company's website and stock exchange platforms

The resolution requires approval as a Special Resolution, and the results will be declared within two working days of the postal ballot process conclusion. The company has appointed Mr. M. Damodaran as the Scrutinizer to ensure a fair and transparent voting process.

Source:

Sigma Advanced Systems Limited reported robust financial performance for the quarter ended December 31, 2025, with the Board of Directors approving the unaudited financial results on February 14, 2026. The aerospace and defence company demonstrated strong growth across key financial metrics while executing strategic corporate initiatives.

Standalone Financial Performance

The company's standalone operations showed impressive growth during Q3FY26. Revenue from operations increased substantially, supported by strong operational performance and strategic initiatives undertaken during the period.

For the nine-month period ended December 31, 2025, standalone revenue from operations reached ₹5,194.63 lakhs compared to ₹5,062.25 lakhs in the corresponding previous period. Net profit for the nine-month period stood at ₹15,396.70 lakhs versus ₹758.51 lakhs in the previous year, reflecting exceptional performance driven by strategic asset monetization.

Consolidated Results and Major Acquisition

The consolidated financial results reflect the impact of the company's strategic acquisition of Nasmyth Group, UK. During Q3FY26, the company acquired 100% stake in Nasmyth Group through its wholly owned UK subsidiary, with consolidation effective from November 1, 2025.

The acquisition-related transaction costs were disclosed as exceptional items, impacting the consolidated results for the quarter. The financial statements of the acquired entity have been consolidated for two months, making the quarterly results not comparable with previous periods.

Strategic Corporate Developments

The Board approved several key strategic initiatives during the meeting. The enhancement of loan facility to Sigma Advanced Systems UK Limited from 20 Million GBP to 30 Million GBP demonstrates the company's commitment to supporting its international operations and growth initiatives.

Additionally, the Board approved the re-designation of Mr. Cheemarla Damodar Reddy as Whole-Time Director (Executive, Promoter Category) and approved a Postal Ballot Notice for regularisation and fixing of remuneration under applicable SEBI Listing Regulations.

Scheme of Amalgamation and Corporate Restructuring

The company successfully completed its scheme of amalgamation with the National Company Law Tribunal, Chennai Bench sanctioning the merger between Sigma Advanced Systems Private Limited (Transferor Company) and Megasoft Limited (Transferee Company) on December 16, 2025, with an appointed date of April 1, 2024.

Following the NCLT approval, the company issued and allotted equity shares to shareholders of the Transferor Company on January 16, 2026, and changed its name from Megasoft Limited to Sigma Advanced Systems Limited on January 12, 2026.

Asset Monetization and Future Outlook

The company realized significant value from its property sale in April 2025, contributing to the exceptional performance in the nine-month results. The company has also entered into an agreement to divest its entire stake in Extrovis AG, which has been treated as an Asset Held for sale.

With its focus on the aerospace and defence segment and recent strategic acquisitions, Sigma Advanced Systems Limited continues to strengthen its market position while maintaining operational efficiency across its expanded global footprint.