Jupiter wagons Limited has announced the successful completion of its postal ballot process for the appointment of Mr. Mark Damian Stevenson as Non-Executive Director. The company disclosed the voting results on February 23, 2026, in compliance with Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Voting Process Details

The e-voting process was conducted over a period of nearly one month, providing shareholders ample opportunity to participate in the decision-making process. The postal ballot notice was dated December 15, 2025, with electronic dispatch completed on January 21, 2026.

Overwhelming Shareholder Support

The resolution received exceptional support from shareholders across all categories, demonstrating strong confidence in the appointment decision.

Resolution Outcome

The ordinary resolution for appointing Mr. Mark Damian Stevenson as Non-Executive Director was passed with an overwhelming majority. Out of the total votes polled, 27,34,02,713 votes were cast in favor representing 99.88% approval, while only 3,39,214 votes were cast against the resolution.

Regulatory Compliance

The postal ballot process was conducted in accordance with Section 108 and 110 of the Companies Act, 2013, and relevant rules. Ms. Shruti Singhania, Practising Company Secretary, served as the Scrutinizer for the e-voting process. The scrutinizer's report confirmed that the resolution was deemed passed on February 21, 2026, being the last date of remote e-voting.

Corporate Governance

The company maintained transparency throughout the process by:

• Dispatching postal ballot notices electronically on January 21, 2026
• Publishing advertisements as per regulatory requirements on January 22, 2026
• Providing voting facility through KFin Technologies Limited
• Making voting results available on the company website at www.jupiterwagons.com

The appointment of Mr. Mark Damian Stevenson as Non-Executive Director reflects the company's commitment to strengthening its board composition and corporate governance practices. The company secretary Ritesh Kumar Singh digitally signed all regulatory filings on February 23, 2026.

Jupiter wagons Limited has submitted its quarterly compliance report detailing the utilization of funds raised through multiple preferential issues for the quarter ended December 31, 2025. The filing, made pursuant to Regulation 32 of SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015, covers three distinct fundraising initiatives undertaken by the company.

Fund Raising Activities Overview

The company reported on three separate fundraising exercises, each monitored by Care Ratings Limited. The comprehensive statement covers fund utilization across different time periods and purposes.

December 2023 QIP Utilization

The first QIP raised Rs. 403.41 crores with net proceeds of Rs. 394.18 crores. The company reported no utilization during the quarter ended December 31, 2025. The funds were originally allocated for three purposes:

• Foundry Unit Development: Rs. 50.00 crores originally allocated for setting up a new captive alloy steel foundry unit at Jabalpur, Madhya Pradesh. Following shareholder approval on April 18, 2025, this was modified to capacity expansion of existing alloy steel foundry at Bandel. Total utilization to date stands at Rs. 6.36 crores.
• Working Capital: Rs. 215.00 crores fully utilized for funding working capital requirements
• Inorganic Growth and Corporate Purposes: Rs. 129.18 crores fully utilized

Convertible Warrants Funding

The convertible warrants issue raised Rs. 135.00 crores in two tranches - Rs. 33.75 crores on June 28, 2024, and Rs. 101.25 crores on December 15, 2025. The entire amount was designated for investment in subsidiary Jupiter Tatravagonka Railwheel Factory Private Limited for working capital requirements. The company has utilized Rs. 33.75 crores to date with no utilization during the reported quarter.

July 2024 QIP Performance

The largest fundraising initiative raised Rs. 800.00 crores with net proceeds of Rs. 783.24 crores. The fund allocation and utilization status shows:

The subsidiary investment of Rs. 425.00 crores was made into Jupiter Tatravagonka Railwheel Factory Private Limited for capital expenditure towards railway wheel and axle plant machinery. The subsidiary utilized Rs. 342.03 crores up to Q2FY26, with the remaining Rs. 82.97 crores utilized in Q3FY26 for project expenses related to the railway wheel and axle plant construction.

Compliance and Monitoring

The company reported no deviations or variations in fund utilization during the quarter across all three fundraising initiatives. Care Ratings Limited continues to serve as the monitoring agency for all fundraising activities. The audit committee and auditors provided no additional comments on the fund utilization patterns.

The statement was signed by Ritesh Kumar Singh, Company Secretary and Compliance Officer, and filed with both BSE Limited and National Stock Exchange of India Limited on February 13, 2026.