Accord Transformer 12th AGM Notice & ₹7 Crore IPO Reallocation

Accord Transformer & Switchgear Limited

AGM Details

Meeting Date: Saturday, September 26, 2026 at 01:30 PM IST
Mode: Video Conferencing (VC)/Other Audio-Visual Means (OAVM)
Cut-off date for eligibility: Saturday, September 19, 2026
Remote e-voting period: 9:00 AM IST on September 23, 2026 to 5:00 PM IST on September 25, 2026
E-voting agency: Central Depository Services (India) Limited (CDSL)
Scrutinizer: Ms. Anu Malhotra, Practicing Company Secretary (Membership No. 39971, CP No. 16221)

Ordinary Business

1. Adoption of Financial Statements: To receive, consider and adopt the standalone audited financial statements for FY ended March 31, 2026, together with reports of Board of Directors and Auditors, pursuant to Sections 129, 134 and 137 of Companies Act, 2013.

2. Re-appointment of Director: To re-appoint Mrs. Shalini Singh (DIN: 07036391) as Whole Time Director who retires by rotation under Section 152(6) of Companies Act, 2013.

Profile: 46 years old, Masters of Arts in Sociology, over 10 years experience in strategic leadership and operational management in manufacturing sector
Current remuneration: ₹32,00,000 per annum
Shareholding: 63,75,000 equity shares (30.98%)
Relationship: Spouse of Chairman & MD Mr. Pradeep Kumar Verma
Board attendance: Attended all meetings during FY 2025-26

Special Business

3. Alteration in IPO Objects: Special resolution to vary objects of Initial Public Offer by reallocating ₹700.00 lakhs from "Capital expenditure towards purchase of machinery and equipment" to new object "Construction of building/civil structure on Company's property and expansion of plant capacity" at Village Shekhpur Aheer, Tehsil Tijara, District Khairthal-Tijara, Rajasthan-301411.

IPO Fund Utilization Status (as of September 02, 2026):

| Machinery purchase | 1,302.67 | 0 | 1,302.67 | 602.67 |

| Working capital | 1,000.00 | 931.59 | 68.41 | 68.41 |

| IPO expenses | 255.85 | 255.85 | 0 | 0 |

| New object (Construction) | 0 | 0 | 0 | 700.00 |

| Total | 2,558.52 | 1,187.44 | 1,371.08 | 1,371.08 |

Reason for Variation: Review of project implementation plan indicated need to prioritize construction and plant capacity expansion before machinery deployment for optimal utilization.

Financial Impact: No adverse impact on earnings or cash flow expected. No additional external borrowing required.

Implementation Timeline: Expected completion within 9-10 months from shareholder approval.

Exit Offer Clause: If variation is dissented by 10%+ members and <75% of amount raised for the object stands utilized, promoters shall provide exit offer to dissenting shareholders as per SEBI (ICDR) Regulations.

4. Employee Stock Option Plan (ATSL ESOP 2026): Special resolution to approve implementation of ESOP plan with following key features:

Total options: Up to 500,000 options exercisable into equivalent number of equity shares of ₹10 face value each
Eligible employees: Employees, directors (excluding independent directors/promoters), employees of subsidiary/group companies
Vesting period: Minimum 1 year, maximum 5 years from grant date
Exercise period: Maximum 5 years from vesting date
Individual limit: Maximum 1% of issued equity capital per employee per year
Pricing: Not less than face value, determined by Nomination & Remuneration Committee
Accounting: Fair value method to be adopted

Additional Information

Notice and Annual Report available on company website: https://atsgroup.in/
Physical copies sent to shareholders without registered email addresses
No unclaimed dividend amounts pending transfer as per Section 124 of Companies Act, 2013
RTA: KFin Technologies Limited with online grievance portal at https://www.kfintech.com/