Outcome of the Board Meeting held today on September 05, 2025.
Awaiting price reaction for this filing.
The Board of Directors of Carnation Industries Ltd met on September 5, 2025, and approved the notice for the 40th Annual General Meeting (AGM) scheduled for September 30, 2025 at 12:30 PM via video conferencing. The e-voting cut-off date is September 23, 2025, with the e-voting window running from September 27-29, 2025, and book closure from September 24-30, 2025. The Board also approved the Director's Report, Management Discussion and Analysis Report, and Secretarial Audit Report, and appointed M/s Avinash K & Co. as scrutinizer for the e-voting process. Most notably, the Board approved an amendment to the Object Clause of the Memorandum of Association to add three new sub-clauses covering manufacturing, trading, and distribution of alcoholic and non-alcoholic beverages including wines, beer, whisky, gin, rum, brandy, vodka, IMFL, energy drinks, and other beverages. The new clauses also permit setting up breweries, distilleries, wineries, bottling plants, and related infrastructure, as well as hospitality operations like bars, tasting rooms, and restaurants.
This is a significant strategic shift for Carnation Industries, which currently appears focused on metals/metals products (per its CIN), signaling a major diversification into the alcoholic and non-alcoholic beverage industry. Shareholders should watch for shareholder approval at the upcoming AGM and any follow-up announcements on actual business entry, partnerships, or capex plans, as this could materially reshape the company's revenue profile and risk exposure.