Outcome and Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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The Board of Directors of Darjeeling Ropeway Company Limited, at its meeting held on 25th November 2025, approved the adoption of a new Memorandum of Association (MOA) under the Companies Act 2013. Outdated object clauses (Nos. 1 to 35) will be deleted, while relevant clauses (Nos. 36 to 42) will be retained and re-numbered as Objects 1 to 7. A new Clause 8 will be inserted into the Main Objects, allowing the company to manufacture, design, develop, import, export and service a wide range of defence equipment — including arms and ammunition, military vehicles, UAVs, aerospace and avionics systems, radar, sonar, electronic warfare gear, body armour and tactical equipment. The clause also covers Maintenance, Repair and Overhaul (MRO) services for the armed forces, paramilitary, police and other security agencies. An Extra-Ordinary General Meeting (EGM) has been scheduled for 18th December 2025 via video conferencing to seek shareholder approval for these changes.
This marks a major strategic shift for the company — from its existing ropeway business into the defence manufacturing and services sector, which is a high-growth area backed by government procurement. The actual diversification is subject to shareholder approval at the upcoming EGM, and if approved, it could meaningfully expand the company's addressable market and growth potential, though execution risks remain significant.