Solar Industries India Limited has announced the results of its postal ballot process for the appointment of two Independent Directors, with both appointments being deemed approved under special SEBI regulations despite not achieving the requisite majority in traditional voting.

Postal Ballot Results Overview

The e-voting process, conducted from November 18 to December 17, 2025, saw participation from 975 members out of 112,149 total shareholders as of the cut-off date of November 11, 2025. The company utilized National Securities Depository Limited (NSDL) services for the remote e-voting mechanism.

Voting Results for Director Appointments

Smt. Girija Balakrishnan (DIN: 06841071)

The voting results for the first resolution showed mixed support across different shareholder categories:

Shri Viswanathan Lakshmanan (DIN: 00193056)

The second resolution received similar voting patterns with slightly higher overall support:

SEBI Regulation 25(2A) Application

Although both resolutions failed to achieve the requisite majority for special resolutions, they qualified for approval under SEBI Listing Regulations 25(2A). This regulation allows independent director appointments to be deemed approved when:

• Votes in favour exceed votes against the resolution
• Public shareholders' votes in favour exceed votes against

Both appointments have been deemed approved under this provision, with CS Tushar Pahade, the appointed scrutinizer, confirming the validity of the process in his report dated December 18, 2025.

Director Profiles and Terms

Smt. Girija Balakrishnan brings over 31 years of experience in corporate laws, mergers and acquisitions, and foreign direct investments. Her term commenced from September 18, 2025.

Shri Viswanathan Lakshmanan contributes 42 years of leadership experience across financial services, information technology, and pharmaceuticals sectors. His term started from October 18, 2025.

Both directors have been appointed for five-year terms and will enhance the company's corporate governance structure with their diverse expertise in legal and cross-industry leadership domains.

Solar Industries India Limited has reported a robust financial performance for the second quarter, marking significant growth across key metrics and showcasing the company's strong position in both domestic and international markets.

Record-Breaking Financial Performance

The company achieved its highest ever quarterly EBITDA of INR 582.00 crores and Profit After Tax (PAT) of INR 361.00 crores in Q2. Total revenue grew by 21% to INR 2,082.00 crores, driven primarily by international business expansion and a notable surge in the defense segment.

Defense Segment Crosses Milestone

A highlight of the quarter was the defense segment crossing the INR 500.00 crore mark, representing a significant 57% year-on-year growth. This performance underscores Solar Industries' growing prominence in the defense sector and its alignment with India's push for self-reliance in defense manufacturing.

International Business Reaches New Heights

The company's international business recorded its highest-ever quarterly sales of INR 960.00 crores, demonstrating Solar Industries' successful global expansion strategy and its ability to capture market share in diverse geographical locations.

Overcoming Domestic Challenges

Despite facing challenges in the domestic market due to prolonged monsoons affecting coal mining activities, Solar Industries maintains its annual guidance. This resilience highlights the company's robust business model and its ability to offset domestic slowdowns with strong performance in other segments and international markets.

Future Outlook

Management remains optimistic about the company's growth trajectory, particularly in the defense sector. With a strong defense order book of around INR 15,500.00 crores and the commencement of Pinaka rocket commercial sales expected in Q3, Solar Industries is well-positioned for continued growth.

Strategic Initiatives

The company is actively expanding its product portfolio, including advancements in anti-drone systems and loitering munitions. Solar Industries is also venturing into new international markets such as Australia, Kazakhstan, and Saudi Arabia, which are expected to contribute to future growth.

Conclusion

Solar Industries' Q2 results demonstrate its ability to navigate challenging market conditions while capitalizing on growth opportunities in defense and international markets. The company's diversified business model and strategic focus on high-growth segments position it well for sustained performance in the coming quarters.

As the company continues to execute its growth strategy, investors and industry observers will be keenly watching its progress in defense manufacturing and international expansion, which are likely to be key drivers of future growth.