Isgec Heavy Engineering Limited has informed the Exchange regarding Outcome of Board Meeting held on July 08, 2025.
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Isgec Heavy Engineering's Board, meeting on July 08, 2025, approved multiple key decisions. Two new Independent Directors — Mr. Rajiv Roy Chaudhury and Mr. Vivek Dhir — were appointed for a 5-year term starting July 08, 2025, pending shareholder approval. Mr. Kishore Chatnani (currently CFO) and Mr. Sanjay Gulati (currently Head-Manufacturing) were re-designated as Joint Managing Directors effective October 01, 2025. Mr. Kalyan Ghosh replaced Mr. Sachin Saluja as Compliance Officer, while Saluja continues as Company Secretary. The Board also approved an initial capital investment of Rs. 53.50 crores to set up a new mechanical presses factory at Village Bhartoli, Kurukshetra, Haryana, which will augment existing capacity at the Yamunanagar plant. A new Committee of Directors was constituted to explore organic and inorganic growth options, and revised policies on insider trading and event materiality were adopted.
The Rs. 53.50 crore capex on a new presses factory signals capacity expansion and future growth, while senior management elevations and new independent director additions strengthen governance. These are positive operational and governance updates for shareholders, though all director appointments remain subject to shareholder approval at the upcoming AGM.