MARINE : TO CONVERT UP TO RS 17 CR LOAN INTO EQUITY IN SUBSIDIARY MEL HEAVY INDUSTRIES

• Board approved conversion of loan/current capital extended to MEL Heavy Industries Private Limited (formerly Narhari Engineering Works - Partnership Firm), a subsidiary of the company, into equity • Conversion amount not exceeding ₹17 Cr, to be done in one or more tranches • General Purpose Committee authorised to take necessary actions and execute requisite documents for the transaction • Board also approved unaudited standalone and consolidated financial results for the quarter and half year ended 30th September 2026, along with limited review report Impact: Neutral (Loan-to-equity conversion in subsidiary strengthens its capital base via internal funding rather than fresh cash infusion)

Marine Electricals (India) Limited

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