Summary of Key Information:
Target Company: MEL Heavy Industries Private Limited (formerly known as Narhari Engineering Works)
Stock Exchange Listings:
NSE Scrip Code: MARINE
BSE Scrip Code: Not explicitly stated
Nature of Transaction / Event: Conversion of partnership firm into private limited company
Date of Transaction: 22/05/2026 (effective date)
Percentage of Shareholding / Voting Capital Affected: No change - Company continues to hold 99%
Industry: Manufacturing Electric Motors, Pump Sets and Other Electrical Products
Objects and Effects of Acquisition: Conversion of partnership firm into private limited company without any finances being involved
Company Details:
- Authorized Capital: ₹5,00,00,000 (Five Crores) divided into 50,00,000 (Fifty Lakhs) equity shares of ₹10/- each
- Country of Incorporation: India
Historical Financial Performance of Erstwhile Entity (Narhari Engineering Works):
- 2022-2023: ₹22.11 Crore
- 2023-2024: ₹21.09 Crore
- 2024-2025: ₹21.86 Crore
Regulatory Context:
- Disclosure made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- Reference to SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026
- Certificate of Incorporation received from Central Registration Center
Additional Information:
- This is not a related party transaction
- No governmental or regulatory approvals required
- No acquisition cost or consideration involved
- Not an acquisition - purely structural conversion
Analyst Notes:
Disclosure represents a corporate restructuring event where a partnership firm subsidiary converts to a private limited company entity without changing ownership structure or involving financial transactions. The subsidiary maintains consistent operational performance with turnover remaining stable around ₹21-22 crore annually.