Aeroflex Neu Ltd

Fund utilisation deviation status

• Purpose: No deviation in use of funds raised.
• Mode: Allotment of convertible warrants on preferential basis.
• Funds raised: Rs 6,480 Lakhs; allotment date 25 July 2025.
• Monitoring: Monitoring agency not applicable.
• Deviation: No deviation/variation reported.
• Utilisation: Partially utilised; Rs 795.50 Lakhs utilised to date.
• Remaining: Rs 4,860 Lakhs to be received on warrant conversion.
• Receipt note: 25% of issue price received; 75% on conversion.

Financial results

• Unaudited standalone and consolidated results for quarter ended June 30, 2026 approved.
• Limited Review Reports by statutory auditors on the results attached.

Regulatory disclosures

• Disclosures under SEBI LODR Regulations 30 and 33(3) made.

Financial results approved

• Unaudited standalone and consolidated results for quarter ended 30 June 2026 approved; Limited Review reports issued.

Major corporate action

• Share Purchase Agreement signed 15.07.2026 to sell 51.01% stake in Fibcorp Polyweave for 182.12 lakh; subsidiary to cease.
• Subject to customary compliances and 180-day consummation window.

Auditor remarks

• Independent auditor reviews issued; no audit opinion expressed on interim standalone and consolidated results.

Meeting Details

• Board meeting on July 29, 2026 at 03:30 p.m.; location not disclosed.

Key Agenda Items

• Consider and approve unaudited standalone and consolidated results for quarter ended June 30, 2026; Limited Review Reports.

Instruments/Facilities Rated

• Total bank loan facilities ₹36 crore.
• Long-term rating BB/Stable withdrawn.
• Short-term rating A4+ withdrawn.
• Withdrawal effective July 15, 2026.

Rating Agency and Action

• Agency: CRISIL Ratings Limited.
• Action: Ratings withdrawn at company request.

Rationale

• Withdrawal per CRISIL policy on withdrawal of bank loan ratings.
• Bankers' no-objection certificate provided.

Outlook

• Outlook not applicable due to withdrawal.

Independent director appointment – Arpit Kalani

• Appointment of Arpit Kalani as Additional Non-Executive Independent Director.
• Effective from 15 July 2026, for a 5-year term.
• Subject to shareholders' Special Resolution at the 34th AGM.
• Profile: Associate Company Secretary with governance and compliance expertise.
• Not related to any other director.

Independent director appointment – Tapan Kothari

• Appointment of Tapan Tanmay Kothari as Additional Non-Executive Independent Director.
• Effective from 15 July 2026, for a 5-year term.
• Subject to shareholders' Special Resolution at the 34th AGM.
• Profile: MBA, M.Com with experience in banking, administration, sales, events.
• Not related to any director.

Subsidiary sale and status change

• Sale of 51.01% FPPL stake (33,884 shares).
• Sale consideration ₹192.12 lakhs.
• FPPL to cease as a subsidiary on closing.
• Buyers: Mr. Murtaza Ali Moti and Mrs. Fatima Moti.
• Not a related party transaction; outside Scheme of Arrangement.
• Shareholders approved at EGM on 06 Jun 2025.
• Closing within 180 days of signing SPA.

Objects modification for warrants proceeds

• Board approved alteration of objects; subject to approvals.
• New objects include land for Plug and Play office complexes, AI, IT parks, data centers.
• Includes residential, industrial, hotels and hospitality projects.

Status of dematerialisation/rematerialisation

• No dematerialisation/rematerialisation requests were received in the period.
• Securities dematerialised were listed on the exchanges where the existing securities are listed.
• Physical certificates received for dematerialisation were mutilated and cancelled after verification; depository name substituted as registered owner.
• No processing required since no requests were received.

Meeting Details

• Board meeting on July 15, 2026 at 03:30 P.M.

Key Agenda Items

• Approval to sell/dispose of the equity stake in Fibcorp Polyweave Private Limited, a material subsidiary.

Other Notes

Rating Details

• Rating Agency: CARE Ratings Limited.
• Long Term Bank Facilities, ₹3.55 crore: CARE BB+; Stable.
• Long Term / Short Term Bank Facilities, ₹16.40 crore: CARE BB+; Stable / CARE A4+.
• Short Term Bank Facilities, ₹7.20 crore: CARE A4+.