Date: 22nd October 2026

Board Meeting Outcomes

The Board of Directors at its meeting held on 22nd October 2026 approved:

  • Capital expenditure of ₹450 crores for capacity expansion and operational consolidation
  • Project to be implemented in phases up to FY 2030-31

Expansion / Capex Details

Existing Capacity

  • Consolidated installed capacity for sheet metal (lamination): 1,08,000 MT per annum
  • Machining hours capacity: 8,13,600 hours
  • Approved expansion currently underway to enhance machining capacity to 10,80,000 machining hours by Q1 2029-30

Current Capacity Utilization

  • Sheet metal: ~78% utilization
  • Machining: ~85% utilization

Proposed Capacity Addition

| Particulars (Per annum) | Existing Capacity as on 30-Sep-2026 | On-going Capacity addition to be completed by | Post Proposed Capacity |

| Sheet Metal (MT) | 1,08,000 | Q1 2029-30: NA | 1,60,000 |

| Machine Hours | 8,13,600 | 10,80,000 | 13,14,000 |

Investment and Financing

  • Estimated project cost: ₹450 crores
  • Mode of financing: Internal accruals and Debt

Rationale for Expansion

The Company is witnessing sustained growth in demand across key sectors including:

  • Mining and off-highway vehicles
  • Power generation (thermal, hydro, pumped storage and wind energy)
  • Data centres
  • Railways and metro infrastructure

The expansion will:

  • Support anticipated growth in business volumes
  • Strengthen manufacturing capabilities
  • Enhance value addition
  • Consolidate presently fragmented lamination manufacturing operations in Karnataka into a single integrated manufacturing facility
  • Increase capacities
  • Improve operational efficiencies
  • Optimize costs
  • Support future growth