Triveni Turbine Limited has issued a postal ballot notice dated February 24, 2026, seeking shareholder approval for the re-appointment of Mr. Nikhil Sawhney as Managing Director for an extended term. The company has engaged NSDL to provide remote e-voting facility to members for this corporate governance matter.

Postal Ballot Details

The postal ballot seeks approval for a special resolution regarding the re-appointment of Mr. Nikhil Sawhney (DIN: 00029028) as Managing Director, designated as Vice Chairman and Managing Director. The proposed appointment is for a period of five years with effect from May 10, 2026.

Leadership Performance Under Current Tenure

Mr. Nikhil Sawhney's current tenure as Vice Chairman and Managing Director has demonstrated significant growth across key financial metrics. The company has achieved substantial expansion under his leadership, transforming from a largely domestic outfit into a notable global player.

Proposed Remuneration Structure

The re-appointment includes a comprehensive remuneration package with the following key components:

Basic Salary: ₹25,00,000 per month up to a maximum of ₹40,00,000 per month, with annual increments based on performance and company results.

Allowances and Perquisites:

• Housing allowance up to 60% of salary
• Medical reimbursement for self and family
• Leave travel assistance as per company rules
• Insurance coverage including medical and personal accident insurance
• Club memberships for two clubs in India and/or abroad
• Provision of two cars with chauffeur

Overall Ceiling: The total remuneration including salary, allowances, perquisites and commission/bonus shall not exceed ₹30 crore in any financial year during the proposed five-year term.

Company Achievements and Recognition

Under Mr. Sawhney's stewardship, the company has achieved several notable milestones. The company currently ranks second globally in the manufacturing of steam turbines of up to 100 MW capacity, representing a significant achievement for an Indian company. It has been featured in Forbes Asia's "Best Under A Billion" list for two consecutive years (2024 and 2025).

The company holds around 400 patents, industrial designs, trademarks and copyrights, and launches four to five new products each year. It has expanded its aftermarket portfolio by venturing into refurbishment and services for third-party rotating equipment, including utility turbines, rotors and compressors.

Voting Process and Compliance

The postal ballot is being conducted in compliance with Sections 110 and 108 of the Companies Act, 2013, and Regulation 30 of SEBI Listing Regulations. Only members whose names appear in the Register of Members or Register of Beneficial Owners as on the cut-off date of February 20, 2026, and who have registered their email addresses, are eligible to vote.

The notice has been sent via email to eligible members, and physical copies are not being distributed in accordance with MCA circulars. Members can access the complete postal ballot notice on the company's website at www.triveniturbines.com and on the websites of stock exchanges NSE and BSE.

ICICI Prudential Mutual Fund has disclosed crossing the 5% shareholding threshold in Triveni Turbines Ltd, triggering mandatory disclosure requirements under SEBI's substantial acquisition regulations. The mutual fund acquired 1,21,323 shares of the engineering company on February 19, 2026, through open market purchases.

Shareholding Details

The net acquisition has increased ICICI Prudential Mutual Fund's total holding in Triveni Turbine Ltd from 4.98% to 5.02% of the company's paid-up capital. The fund, including iSIF under its various schemes and investment strategies, now holds 1,59,65,989 shares carrying voting rights.

Company Capital Structure

Triveni Turbine Ltd's equity share capital remains unchanged at ₹31,78,86,270, comprising 31,78,86,270 shares with a face value of ₹1 each. The total diluted share capital stands at ₹31,80,01,648, consisting of 31,80,01,648 shares of face value ₹1 each.

Investment Perspective

ICICI Prudential Asset Management Company Limited has clarified that the shareholding by its schemes and investment strategies is purely from an investment perspective. The fund has explicitly stated that the acquisition is not aimed at seeking any controlling interest in the company.

Regulatory Compliance

The disclosure has been made in compliance with Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The fund has filed the necessary documentation with BSE Limited, where Triveni Turbine Ltd's shares are listed, along with the National Stock Exchange of India Limited.

Market Transaction Details

The acquisition represents a standard institutional investment move, with the mutual fund maintaining its position as a financial investor rather than seeking operational control of the turbine manufacturing company.