Summary of Key Information:
Target Company:
MEL Heavy Industries Private Limited (formerly Narhari Engineering Works)
Stock Exchange Listings:
NSE Scrip Code: MARINE
BSE Scrip Code: Not specified in disclosure
Nature of Transaction / Event:
Conversion of partnership firm to private limited company
Date of Transaction:
22/05/2026
Percentage of Shareholding / Voting Capital Affected:
No change - Company continues to hold 99% ownership
Other Noteworthy Information:
- Subsidiary conversion from partnership firm to private limited company under Companies Act, 2013
- New entity name: MEL Heavy Industries Private Limited effective 22nd May, 2026
- Certificate of Incorporation received from Central Registration Center
- Authorized Capital: ₹5,00,00,000 (Five Crore) divided into 50,00,000 equity shares of ₹10/- each
- Not a related party transaction or acquisition
- No governmental or regulatory approvals required
- No consideration involved in the conversion
- Business: Manufacturing Electric Motors, Pump Sets and Other Electrical Products
- Country of Incorporation: India
Historical Financial Performance of Erstwhile Entity:
- Financial Year 2022-2023: Turnover ₹22.11 Crore
- Financial Year 2023-2024: Turnover ₹21.09 Crore
- Financial Year 2024-2025: Turnover ₹21.86 Crore
Disclosure Compliance:
- Made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- References SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026
- Signed by Deep Shah, Company Secretary & Compliance Officer (ACS: 61488)