Storage Technologies & Automation Limited has announced a major expansion initiative following its Board of Directors meeting held on March 9, 2026. The company's board approved borrowing up to ₹16.50 crore specifically for land acquisition and factory construction purposes.

Board Meeting Details

The board meeting was conducted on March 9, 2026, commencing at 5:45 PM and concluding at 9:30 PM. The meeting was held in compliance with regulatory requirements and addressed several business items, with the borrowing approval being a key decision.

Borrowing Approval Specifics

The Board of Directors approved the borrowing under Section 179(3)(d) and other applicable provisions of the Companies Act, 2013. The approved borrowing details are as follows:

Regulatory Compliance

The announcement was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates listed companies to disclose material events and information that could impact investor decisions.

Company Leadership

The disclosure was signed by Mohammad Arif Abdul Gaffar Dor, Managing Director of Storage Technologies and Automation Limited, with DIN: 02943466. The digital signature was applied on March 9, 2026, at 21:40:00 +05'30'.

Business Focus

Storage Technologies and Automation Limited operates in multiple segments including racking, shelving, automation, structural solutions, and consulting services. The company is incorporated under CIN: L74900KA2010PLC052918 and is headquartered in Bangalore, Karnataka.

Storage Technologies & Automation Limited has received a GST order from the Karnataka GST Department for FY2021-22, with total financial implications of ₹2,30,584. The company disclosed this development through a regulatory filing under Regulation 30 of SEBI Listing Regulations on December 22, 2025.

GST Order Details

The order was received on December 18, 2025, from the Deputy Commissioner, DGSTO-S, Bengaluru, Karnataka, under Section 73 of the KGST Act. The company had initially filed the disclosure on December 20, 2025, but provided updated details in a subsequent filing dated December 22, 2025.

Nature of Violation

The GST order pertains to excess Input Tax Credit (ITC) claims made by the company during FY2021-22. The violation involves specific steel products that form part of the company's business operations.

Products Involved:

• Sheet Piling of Iron or Steel (whether or not drilled, punched or made from assembled elements)
• Welded Angles, Shapes and Sections of Iron or Steel

Regulatory Timeline and Compliance

The company received a Show Cause Notice dated September 25, 2025, prior to the final order. The penalty has been imposed in accordance with Section 73(9) of the Karnataka Goods and Service Tax Act, 2017 (KGST Act) and the Central Goods and Service Tax Act, 2017 (CGST Act), along with relevant sections of the GST (Compensation) Act, 2017.

In its updated disclosure, the company acknowledged a delay in filing the order, explaining that officials were internally evaluating the impact and finalizing the further course of action. The company noted that as per Schedule III, Part A, Clause 20(v)(ii) of the SEBI (LODR) Regulations, 2015, disclosure of fines or penalties below ₹1,00,000 are required to be disclosed on a quarterly basis, making this intimation voluntary.

Company's Response

Storage Technologies & Automation has indicated that it does not foresee any impact on the financial operation or other activities of the company from this GST order, describing it as not material. The company has stated it is examining the order and will take appropriate steps as required.

The information has been hosted on the company's website at www.racksandrollers.com in compliance with Regulation 46 of the Listing Regulations. The disclosure was signed by Cauveramma BB, Company Secretary and Compliance Officer.