Key Decisions and Quantitative Figures

1. Financial Results Approval

  • Approved unaudited financial results for quarter and half-year ended 30th September 2026 pursuant to Regulation 33 of SEBI LODR Regulations, 2015.

2. Interim Dividend Declaration

  • Declared interim dividend of ₹2 per equity share (40%) for FY 2026-27 on shares of face value ₹5 each
  • Fixed record date: Monday, 2nd November 2026
  • Payment date: On or before 21st November 2026 to shareholders on register as of record date

3. Capital Expenditure Approval

  • Approved ₹450 crores capex for capacity expansion and operational consolidation
  • Project implementation: Phased manner up to FY 2030-31
  • Financing mode: Internal accruals and debt

Current Capacity Details:

  • Sheet metal (lamination): 1,08,000 MT per annum (78% utilization)
  • Machining hours: 8,13,600 (85% utilization)
  • Ongoing expansion to enhance machining capacity to 10,80,000 hours by Q1 2029-30

Proposed Capacity Addition:

| Particulars (Per annum) | Existing Capacity (30-Sep-2026) | Post Proposed Capacity |

| Sheet Metal (MT) | 1,08,000 | 1,60,000 |

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

Rationale for Expansion:

Sustained growth demand across key sectors including mining and off-highway vehicles, power generation (thermal, hydro, pumped storage, wind energy), data centers, railways and metro infrastructure. Project aims to strengthen manufacturing capabilities, enhance value addition, consolidate fragmented lamination operations in Karnataka into single integrated facility, improve operational efficiencies, optimize costs and support future growth.

4. Employee Stock Options Grant

  • Second grant of 5,77,500 employee stock options under 'Pitti Engineering Limited Employees Stock Option Scheme 2024'
  • Exercise price: ₹736.72 per option
  • Approved by Nomination and Remuneration Committee on 22nd October 2026
  • Total shareholder approved limit: 13,00,000 options
  • Each option carries right to one equity share of ₹5 face value

Pricing Details:

  • Exercise price represents 23.03% discount to closing market price of ₹957.20 per equity share on NSE on 21st October 2026 (previous trading day)
  • Pricing maintained consistent with first grant approved on 13th March 2026

ESOP Scheme Structure:

  • Implemented through trust route (secondary acquisition or primary issuance)
  • Minimum one-year period between grant and vesting
  • Vesting schedule for Grant 2:
  • Time Based Options (75% of grants): 15% each at end of years 3,4,5,6; 20% each at end of years 7,8
  • Performance Based Options (25% of grants): 25% each at end of years 2,3; 10% each at end of years 4,5,6,7,8
  • Exercise period: From first vesting date till expiry of 5 years from final tranche vesting

Previous Grant Update:

  • 80,000 options from first grant (13th March 2026) cancelled due to employee exit before vesting completion

5. Senior Management Re-designations

Effective 22nd October 2026:

Shri Sandip Agarwala

  • From: COO – Motor & Generator Components Business
  • To: Deputy Chief Executive Officer
  • Age: 50 years, 13+ years experience at company
  • Profile: Post Graduate Diploma in Business Management, expertise in business strategy, operations, marketing, business development

Shri Chaitra Sundaresh

  • From: Deputy Chief Operating Officer
  • To: COO – Motor & Generator Components Business
  • Age: 48 years, Commerce graduate, 20+ years experience in electrical laminations
  • Associated with company as Deputy COO since May 2024

6. Appointment of Deputy Chief Operating Officer

  • Shri Avinash Arun Patil promoted from President – Maharashtra Operations to Deputy Chief Operating Officer
  • Effective: 22nd October 2026
  • Age: 44 years, Diploma in Mechanical Engineering, Bachelor's in Mechanical Engineering, e-MBA (AYEP)
  • 24+ years experience in operations management, strategic sourcing, supply chain management
  • Joined company in May 2024, oversees Maharashtra operations
  • Now forms part of Senior Management Personnel under SEBI LODR Regulations