H.M. Electro Mech Limited has submitted a revised statement of deviation/variation in fund utilization for the quarter ended 30th September, 2025, to BSE Limited under Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The revision was necessitated due to a typographical error in the original statement filed on 13th November, 2025.

Correction of Typographical Error

The company identified and corrected a significant error in its original filing where an amount of ₹ 21.68 lakhs was mistakenly mentioned under the heading "Amount of Deviation/Variation for the quarter according to applicable object." The company clarified that this amount should have been "Nil" and that the ₹ 21.68 lakhs was actually the balance amount of working capital used from IPO proceeds.

IPO Fund Utilization Details

The revised statement provides a comprehensive breakdown of the fund utilization from the public issue conducted on 31st January, 2025:

Compliance and Confirmation

The company has confirmed that the IPO proceeds totaling ₹ 2,774.40 lakhs have been utilized strictly for the purposes stated in the company's prospectus. The management emphasized that there was no actual deviation in the utilization of funds, and the error was purely typographical in nature.

Regulatory Filing Details

The revised statement was filed in the format prescribed by SEBI circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November, 2024. The document was signed by Mahendra Ramabhai Patel, Whole Time Director (DIN: 02190228), and Dipak Padmakant Pandya, Chairman and Managing Director (DIN: 02188199).

The company has requested BSE Limited to take this corrected information on record, ensuring transparency and compliance with regulatory requirements for listed entities regarding fund utilization reporting.

H.M. Electro Mech Limited has announced the appointment of a new independent director to strengthen its board composition. The company's board of directors convened on January 1, 2026, to deliberate on key governance matters and approved significant leadership changes.

Board Meeting Details

The board meeting was conducted at the company's registered office on Thursday, January 1, 2026. The session was efficiently managed within a one-hour timeframe, demonstrating the board's focused approach to decision-making.

Key Appointment

The primary agenda item addressed during the meeting was the appointment of Mr. Jay Dineshkumar Shah as an Additional Director in the Independent Category. This strategic addition to the board reflects the company's commitment to enhancing corporate governance standards.

Director Profile and Qualifications

Mr. Jay Dineshkumar Shah brings substantial expertise to the board with his comprehensive background in financial services. His educational and professional credentials demonstrate strong alignment with the company's strategic objectives.

Regulatory Compliance

The appointment was formally communicated to BSE Limited in accordance with Regulation 30 of SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015. This regulation mandates listed companies to disclose material events and information that could impact investor decisions. The company's prompt disclosure demonstrates its adherence to regulatory requirements and commitment to transparency.

Corporate Governance Enhancement

The addition of an independent director to H.M. Electro Mech Limited's board represents a positive step toward strengthening corporate governance practices. Independent directors play a crucial role in providing objective oversight and ensuring that the company's operations align with stakeholder interests. Mr. Shah's appointment brings additional expertise and independent perspective to the board's decision-making processes, particularly in areas of financial planning, capital market operations, and regulatory compliance.