Notice of 34th Annual General Meeting of the Company
Awaiting price reaction for this filing.
JTL Defence Ltd (formerly RCI Industries & Technologies Limited, Scrip Code: 537254) has called its 34th AGM on February 12, 2026 at 11:00 AM via video conferencing, with e-voting open from February 9-11, 2026. Ordinary business includes adoption of FY25 audited financial statements, appointment of M/s Rajeev Bhambri & Associates as Secretarial Auditor for 5 years (April 2025 to March 2030), and ratification of Rs. 50,000 remuneration for cost auditors M/s Balwinder & Associates for FY26. Special business seeks approval for material related party transactions with promoter JTL Industries Limited up to Rs. 100 crore per annum, raising overall borrowing limits to Rs. 250 crore, and allowing loans up to Rs. 100 crore from JTL Industries to be optionally converted into equity shares. The company also proposes changing its name from 'RCI Industries & Technologies Limited' to 'JTL Defence Limited' and significantly expanding its object clause to include defence manufacturing, EV charging stations, batteries, solar/renewable energy, e-commerce, infrastructure, and real estate businesses.
The name change and drastically widened object clause signal a major strategic pivot toward defence, EV, and energy sectors, potentially reshaping the company's business identity. The Rs. 100 crore loan-to-equity conversion option from promoter JTL Industries could lead to equity dilution and an increase in promoter shareholding, while higher borrowing limits (Rs. 250 crore) suggest upcoming expansion or capex plans.