Lokesh Machines Limited , a prominent player in the machine tools industry, has announced significant changes to its board composition and auditor appointment during its 41st Annual General Meeting (AGM) held on September 26, 2025. The meeting, which took place via video conference, saw several key decisions that are set to shape the company's future governance and operations.

Board Reappointments and Continuations

Ms. Likhitha Mullapudi Re-appointed as Director

Ms. Likhitha Mullapudi, who retired by rotation, has been re-appointed as a director of the company. Ms. Mullapudi brings a strong educational background and relevant industry experience to the board. She holds a BE in Mechanical Engineering from PSG Institute of Advanced Studies, Coimbatore, India, and the University of Hartford, Connecticut, USA. Additionally, she has completed her ME in Mechanical Engineering with a specialization in manufacturing and management from the University of Hartford.

Her expertise in mechanical engineering, manufacturing, and operational aspects of the industry is expected to contribute significantly to Lokesh Machines' strategic direction. It's worth noting that Ms. Mullapudi is related to Mr. M. Srinivas, Mr. M. Srikrishna, and Mr. M. Lokeswara Rao, indicating a strong family presence in the company's leadership.

Mr. K. Krishna Swamy Continues as Non-Executive Director

In a move that underscores the company's commitment to leveraging experienced leadership, shareholders approved the continuation of Mr. K. Krishna Swamy as a Non-Executive Director for an extended period. His new term will run from September 26, 2025, to September 25, 2030, in accordance with Regulation 17(1A) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Mr. Krishna Swamy's reappointment brings over 47 years of extensive experience in machine tools design to the board. His career, which began at HMT in 1964, saw him rise to the position of Chief Engineer in charge of the design department from 1978 to 1983. His portfolio includes designing various notable machines such as Rotary Indexing Machines, Linear Transfer Machines, and Line Boring Machines.

New Auditor Appointment

In addition to the board changes, the AGM also saw the appointment of M/s. L.D. Reddy & Co., Company Secretaries, as the Secretarial Auditor for Lokesh Machines Limited. This appointment is set for a term of five consecutive years, ensuring continuity and stability in the company's auditing processes.

AGM Proceedings

The 41st AGM, chaired by Mr. D. Balaji, an Independent Director, in the absence of Board Chairman Mr. M. Yugandhar due to illness, commenced at 11:00 A.M. and concluded at 12:04 P.M. The meeting addressed various agenda items, including the adoption of financial statements for the year ended March 31, 2025, and the ratification of remuneration for Cost Auditors.

These strategic decisions at Lokesh Machines Limited's AGM reflect the company's focus on maintaining strong governance, leveraging experienced leadership, and ensuring compliance with regulatory requirements. As the company moves forward with these changes, stakeholders will be keen to observe how these appointments influence the company's performance and strategic direction in the competitive machine tools sector.

Lokesh Machines Limited, with its registered office in Hyderabad, continues to operate its manufacturing units in Balanagar, Bonthapally, Medchal, Toopran, and Ranjangaon-Pune, solidifying its presence in the Indian manufacturing landscape.

Lokesh Machines Limited , a prominent player in the manufacturing sector, has achieved a significant milestone in its expansion into the defence industry. The company has recently received approval for a registration certificate from the Directorate General of Quality Assurance (DGQA) for defence manufacturing operations.

DGQA Certification: A Gateway to Defence Manufacturing

The DGQA registration certificate is a crucial accreditation for companies aiming to participate in defence manufacturing in India. This certification signifies that Lokesh Machines has met the stringent quality standards and requirements set by the DGQA, which is the quality assurance organization of the Department of Defence Production, Ministry of Defence.

Implications for Lokesh Machines

This approval opens up new opportunities for Lokesh Machines in the defence sector, potentially allowing the company to:

• Participate in defence tenders and contracts
• Manufacture components and equipment for the Indian armed forces
• Collaborate with other defence contractors and original equipment manufacturers

Company's Ongoing Efforts

While this development marks a positive step for Lokesh Machines in the defence sector, it's worth noting that the company is also addressing other challenges. According to the latest LODR (Listing Obligations and Disclosure Requirements) data, Lokesh Machines is actively working on resolving its listing on the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) Specially Designated Nationals and Blocked Persons list.

The company has filed necessary documents and information through its US-based lawyers in response to OFAC's questionnaire, seeking expedited removal or reconsideration of its designation. This proactive approach demonstrates Lokesh Machines' commitment to resolving regulatory issues and maintaining transparency with its shareholders.

Looking Ahead

As Lokesh Machines ventures into defence manufacturing with its newly acquired DGQA registration, the company appears to be positioning itself for potential growth in this strategic sector. Shareholders and market observers will likely be watching closely to see how this development, along with the resolution of the OFAC listing issue, will impact the company's future prospects and performance in both domestic and international markets.

The management of Lokesh Machines has assured stakeholders that they are taking all necessary steps to address the OFAC listing and will continue to provide updates on any future developments in this regard.