Outcome of the meeting held on Friday 02nd of May 2025 for acquisition of Wholly Owned Subsidiary and Appointment of Chief Financial Officer
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Constronics Infra Ltd held a board meeting on May 2, 2025 and approved two key decisions. First, the company will acquire 100% shares (10,000 equity shares) of Constronics Energy Solutions Private Limited for Rs. 1,00,000 in cash, making it a wholly owned subsidiary. The target company was incorporated on December 3, 2024, operates in the renewable energy power generation sector, has nil turnover, and has authorized capital of Rs. 15 lakh. Second, the board appointed Mr. Sivanandham Vijayakanth, an MBA in Finance with experience in financial and accounting matters, as the new Chief Financial Officer with effect from May 2, 2025.
The acquisition signals a move into the renewable energy sector for diversification, though the tiny acquisition cost and the target's nil turnover suggest this is an early-stage strategic entry rather than a material revenue driver in the near term. The CFO appointment brings experienced financial oversight at a time of expansion.