Craftsman Automation Limited's Board of Directors has approved a comprehensive restructuring plan for its Aluminium Products business, marking a significant step toward operational consolidation and enhanced efficiency. The board meeting held on March 11, 2026, concluded with the approval of a phased approach to internal restructuring that will streamline the company's aluminium operations.

Board Meeting Outcomes and Regulatory Compliance

The board meeting, which commenced at 3:55 P.M. and concluded at 4:15 P.M. on March 11, 2026, resulted in key strategic decisions regarding the company's aluminium business structure. The directors evaluated multiple options for internal restructuring and consolidation before deciding on the phased implementation approach. The company has filed detailed regulatory disclosures pursuant to Regulation 30 of the SEBI LODR Regulations with both BSE Limited and National Stock Exchange of India Limited.

Composite Scheme of Arrangement

The first phase involves a draft Composite Scheme of Arrangement under Sections 230 to 232 of the Companies Act, 2013, encompassing the company's material subsidiaries. The scheme has been approved by the boards of DR Axion India Limited and Sunbeam Lightweighting Solutions Limited in their respective meetings held on the same date.

The scheme comprises three main components:

• Amalgamation of step-down wholly owned subsidiaries into DR Axion India Limited
• Amalgamation of DR Axion India Limited into Sunbeam Lightweighting Solutions Limited
• Reorganization of Sunbeam's equity share capital structure

Financial Profile of Entities

The entities involved in the amalgamation demonstrate substantial business operations and financial standing as of March 31, 2025:

Business Operations and Strategic Rationale

The entities involved operate in complementary areas within the aluminium components sector. Sunbeam Lightweighting Solutions Limited engages in design, development, manufacture, marketing, sale, and supply of aluminium die-cast components for automotive and industrial sectors globally. DR Axion India Limited focuses on manufacturing precision-engineered aluminium die-cast components primarily for India's automotive sector.

The step-down subsidiaries, Suprash Developers Private Limited and Srikara Technologies Private Limited, own land parcels leased to DR Axion India Limited for manufacturing facility development and expansion. The management views this consolidation as essential for capitalizing on substantial growth opportunities in the Aluminium Components Industry through a unified operating entity with stronger balance sheet and streamlined organizational structure.

Implementation Requirements and Share Exchange

The scheme's implementation depends on obtaining comprehensive approvals from multiple stakeholders and regulatory bodies, including shareholders and creditors of relevant companies, regulatory authorities, and the National Company Law Tribunal (NCLT). The transaction qualifies as related party dealings but remains exempt under applicable regulations due to the wholly owned subsidiary structure.

The restructuring aims to eliminate fragmentation of operations and asset ownership while creating a focused operating entity capable of efficient implementation of approved expansion plans and seamless development of manufacturing facilities.

Craftsman Automation Limited's Board of Directors has approved the initiation of an evaluation process for potential internal restructuring and consolidation of the company's aluminium products business. The decision was taken during a board meeting held on February 13th, 2026, as disclosed under Regulation 30 of the SEBI LODR Regulations.

Board Meeting Details

The board meeting was conducted on Friday, February 13th, 2026, commencing at 5:00 PM and concluding at 5:15 PM. The primary agenda focused on evaluating strategic options for the company's aluminium products business segment.

Restructuring Evaluation Scope

The evaluation process will cover comprehensive restructuring and consolidation of the aluminium products business. This includes the company's operations together with its wholly owned subsidiaries engaged in the aluminium product business. The restructuring aims to consolidate operations at a single wholly owned subsidiary level.

The board has indicated that various modes of restructuring will be considered, including:

• Scheme of arrangement under Sections 230 to 232 of the Companies Act, 2013
• Other applicable legal frameworks as deemed appropriate
• Consolidation of wholly owned subsidiaries through suitable mechanisms

Next Steps and Compliance

Upon completion of the evaluation process, the Board of Directors will consider and make a final decision in accordance with applicable laws. The company has committed to making appropriate disclosures and undertaking all requisite compliances as required under relevant regulations.

The company emphasized that this is currently an evaluation phase, and any concrete decisions will be subject to board approval following the completion of the assessment process. Craftsman Automation will ensure full compliance with regulatory requirements and provide necessary updates to stakeholders as the evaluation progresses.