Valuation Report Addendum Details
The addendum report dated October 23, 2026, was issued by CA Aman Bansal, Registered Valuer (IBBI/RV/06/2025/15829), and provides additional disclosures regarding:
- Valuation approaches considered
- Weightage assigned to different valuation approaches
- Rationale for consideration or non-consideration of respective approaches
The addendum supplements but does not alter the conclusions of the original valuation report dated September 23, 2026.
Valuation of WINWIN Speciality Insulators Limited (Target Company)
Valuation Approach: Net Asset Value (NAV) Method assigned 100% weightage
Value Per Share: ₹141.88
Rationale for Approach Selection:
- Target company is not currently carrying out any operational business activities
- NAV approach reflects the value of underlying net assets based on relevant financial information
Approaches Not Considered:
- Income Approach (DCF Method): Not appropriate due to absence of operational business activities
- Market Approach: Not appropriate due to lack of operational activities and comparable basis
Valuation of Quality Power Electrical Equipments Limited (Acquiring Company)
Final Value Per Share: ₹1,456.40
Basis: Determined in accordance with SEBI ICDR Regulations pricing requirements
Supplementary Valuation Analyses (0% weightage):
- Net Asset Value (NAV) Method: ₹52.85 per share
- Discounted Cash Flow (DCF) Method: ₹568.64 per share
Rationale for Approach Selection:
- SEBI ICDR Regulations pricing requirements take precedence
- DCF value (₹568.64) is lower than SEBI-compliant price (₹1,456.40)
- NAV approach not adopted due to company's operational business activities
Transaction Structure
Type: Proposed share swap between Quality Power Electrical Equipments Limited and WINWIN Speciality Insulators Limited
Purpose: Preferential issue of equity shares for consideration other than cash
Additional Information
The addendum report is hosted on the company's website at www.qualitypower.co.in as required under Regulation 30 of Listing Regulations.