V-Guard Industries Limited has announced a strategic investment of ₹25,00,29,374 in its associate company Gegadyne Energy Labs Private Limited (GEL), as approved by the board of directors during their meeting held on March 10, 2026. This investment will significantly increase V-Guard's stake in the energy storage technology company from 24.32% to 30.35% on a fully diluted basis.

Investment Details and Structure

The board meeting, which commenced at 11:00 AM and concluded at 12:05 PM, approved the acquisition of preference shares in GEL through a cash consideration structure. The investment involves purchasing 1,438 optionally convertible cumulative participating preference shares, each valued at ₹500 with a premium of ₹1,73,373 per share.

About Gegadyne Energy Labs

Gegadyne Energy Labs Private Limited operates in the energy storage sector, specializing in alternate battery technology. The company was incorporated in 2017 and has its registered office at L P House, Central Road Near SEEPZ, MIDC, Andheri East, Mumbai, Maharashtra. GEL is yet to commence commercial operations, with revenue from operations currently at nil, though it reported income from other sources of ₹30.3 lakhs for Financial Year 2024-25.

Strategic Benefits and Technology Advantages

The investment aligns with V-Guard's strategy to participate in and nurture alternate battery technology. GEL's technology offers several distinct advantages that could benefit V-Guard's business operations:

• Lower Total Cost of Ownership (TCO): Enhanced cost efficiency over the product lifecycle
• Longer Life: Extended operational lifespan compared to conventional batteries
• Faster Recharge: Improved charging capabilities for better user experience
• Better Safety Profile: Enhanced safety features and reduced risk factors
• Lower Maintenance: Reduced ongoing maintenance requirements

Business Applications and Future Potential

The investment provides V-Guard with potential opportunities to leverage alternate battery technology across multiple applications. The company anticipates using this technology for primary applications such as DUPS (Domestic UPS) and Energy Storage systems. Additionally, there are potential secondary applications within V-Guard's existing product portfolio, which could create synergies across their business segments.

Regulatory and Transaction Details

The transaction is structured as a related party transaction since GEL is an associate company of V-Guard Industries. However, the company has confirmed that the proposed investment is conducted on an arm's length basis, ensuring fair valuation and transparent dealings. No governmental or regulatory approvals are required for this acquisition, streamlining the completion process.

The investment represents V-Guard's continued commitment to expanding its presence in the energy storage sector and accessing innovative technologies that could enhance its competitive position in the market. The transaction is expected to be completed by March 31, 2026, marking another milestone in V-Guard's strategic growth initiatives.

V-Guard Industries Limited has successfully completed its postal ballot process, with shareholders approving critical director appointments through remote e-voting. The company declared the voting results on March 9, 2026, following the conclusion of the e-voting period that ran from February 7 to March 8, 2026.

Director Appointments Approved

The postal ballot process resulted in the approval of two key director appointments with overwhelming shareholder support:

Prof. Biju Varkkey's re-appointment represents his second and final term as Independent Director for five consecutive years. Dr. Reena Philip's appointment as Non-Executive Non-Independent Director spans four years, effective from the date of the postal ballot notice.

Voting Process and Participation

The remote e-voting process was conducted in accordance with Section 108 and 110 of the Companies Act, 2013, and SEBI regulations. The voting period commenced on Saturday, February 7, 2026, at 09:00 AM and concluded on Sunday, March 8, 2026, at 05:00 PM.

The e-voting facility was provided by Central Depository Services (India) Limited (CDSL), with votes being unblocked on March 8, 2026, at 05:18 PM in the presence of independent witnesses.

Resolution-wise Voting Results

For Prof. Biju Varkkey's re-appointment as Independent Director, 592 members voted in favor through the electronic voting system, casting 38,89,77,702 votes representing 99.93% approval. Only 47 members voted against the resolution with 2,61,509 votes (0.07%).

Dr. Reena Philip's appointment saw similar strong support, with 592 members voting in favor, representing 38,89,33,264 votes (99.92% approval). The resolution faced opposition from 53 members who cast 3,07,964 votes against (0.08%).

Regulatory Compliance and Scrutiny

The postal ballot process was scrutinized by M.D. Selvaraj, FCS, Managing Partner of MDS & Associates LLP, Company Secretaries, Coimbatore. The scrutinizer was appointed by the Board of Directors on January 28, 2026, to ensure fair and transparent conduct of the voting process.

The scrutinizer's report confirmed that all resolutions were duly passed with requisite majority, and the results have been uploaded on the company's website in compliance with regulatory requirements. The process adhered to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and relevant MCA circulars.

Corporate Governance Enhancement

These appointments strengthen V-Guard Industries' board composition and corporate governance framework. The re-appointment of Prof. Biju Varkkey ensures continuity in independent oversight, while Dr. Reena Philip's addition brings fresh perspective to the board's non-executive functions.

The company's registered office is located at 42/962, Vennala High School Road, Vennala, Kochi - 682 028, and the results have been communicated to both BSE Limited and National Stock Exchange of India Limited as per regulatory requirements.