Delta Manufacturing Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on March 25, 2026
DELTAMAGNT · price
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Delta Manufacturing Limited has called an Extraordinary General Meeting on Wednesday, March 25, 2026, at 3:00 PM via video conferencing, to seek shareholder approval for material related party transactions with its joint venture MMG Ferrites Private Limited (MFPL), a 50% JV with Spain's Premo S.L. that makes soft ferrite and electronic components. The proposed transactions over six months (till September 30, 2026) include sale of goods worth ₹1.5 crore, sale of services worth ₹2 lakh, reimbursement of electricity expenses of ₹3 crore, and an inter-corporate deposit of ₹1 crore, plus a long-term rent income arrangement running through December 2029. Aggregate value of these transactions exceeds the 10% materiality threshold under SEBI Listing Regulations, hence the need for an ordinary resolution. The EGM will use NSDL e-voting, with the voting window from March 21–24, 2026 and the cut-off date set as March 18, 2026.
Approval is largely procedural since the company already controls 50% of MFPL, but shareholders should note MFPL is loss-making (FY25 PAT of -₹47.33 lakh, negative net worth) and the transactions are material relative to the JV's own turnover, meaning any misstep could have implications for Delta Manufacturing. Stock price impact is likely neutral as these are routine operational RPTs within the company's existing JV arrangement.