This is to inform you that the Board of Directors in Board Meeting held on December 11, 2025 has Considered and approved the Incorporation of Wholly owned Subsidiary of the Company.
Awaiting price reaction for this filing.
The board met on December 11, 2025 and approved two key items. First, M/s. Motilal & Associates LLP has been appointed as the new statutory auditor to fill a casual vacancy caused by the resignation of the previous auditor, M/s Devpura Navlakha & Co. The new auditor will serve until the next AGM, pending shareholder approval within three months. Second, the company will incorporate a wholly owned subsidiary named HODL Energy Private Limited (or similar name) based in Mumbai, with an initial investment of just Rs. 1 lakh (10,000 shares of Rs. 10 each). This new subsidiary plans to enter renewable and conventional power, data centres, specialised computing hardware, infrastructure-as-a-service, independent power production, and notably Bitcoin trading and custody. The incorporation is classified as a related party transaction since promoters/promoter group have interest in the new entity.
For shareholders, this signals a dramatic strategic pivot for a small industrial company into high-growth but also high-risk areas like crypto and data centres. The very small initial capital outlay (Rs. 1 lakh) means limited immediate financial risk, but the Bitcoin-related mandate is unusual and could attract retail attention and volatility. The mid-term auditor change is a minor governance flag worth monitoring, though the replacement firm (Motilal & Associates LLP, since 1985) is an established practice.