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Awaiting price reaction for this filing.
Deepak Spinners Limited has received shareholder approval, through a postal ballot that closed on January 30, 2026, to amend its Memorandum of Association (MOA) and Articles of Association (AOA). The main change is the addition of a new sub-clause 49 in the MOA that allows the company to generate, transmit, and distribute electricity from conventional and non-conventional sources such as solar, wind, thermal, biomass, and tidal energy, primarily for captive use, and also for sale to third parties and government entities. The 'Other Objects' clause (iii(C)) has been removed from the MOA, and the document has been realigned with the format prescribed under the Companies Act, 2013. The AOA has been updated to include definitions for Power Purchase Agreements (PPA/PPWA) and 'Projects' covering solar, wind-hybrid, and other power projects for captive generation or third-party power sale.
This is a preparatory corporate housekeeping step that signals Deepak Spinners' intent to set up captive power generation, most likely solar, to reduce its electricity costs — a significant expense for a textile spinning company. It may also open a future revenue stream from selling surplus power, but no immediate financial impact or capex commitment is announced in this filing.