Marine Electricals (India) Limited has informed regarding Disclosure of material issue
MARINE · price
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Marine Electricals India has announced that its subsidiary partnership firm 'Narhari Engineering Works' has been converted into a private limited company named 'MEL Heavy Industries Private Limited', effective 22nd May 2026. This is purely a change in the legal structure of an existing subsidiary with no new acquisition or financial transaction involved. The entity is engaged in manufacturing Electric Motors, Pump Sets and Other Electrical Products. The company continues to hold 99% shareholding in the converted entity with no change in ownership. The subsidiary had consistent turnover of around ₹21-22 crores over the past three financial years.
This is a routine corporate restructuring with no impact on shareholding or finances. Shareholders should note that this change does not affect Marine Electricals' ownership stake or the subsidiary's business operations.