Nibe Ordnance and Maritime Ltd

AGM Details

• Held Sep 29, 2026 at 11:00 A.M. via VC/OAVM.
• Concluded at 11:20 A.M.
• Remote e-voting from Sep 26 to Sep 28, 2026; in-meeting e-voting for 15 minutes.
• Proceedings available on the company website.
• Held via VC/OAVM complying with MCA/SEBI guidelines.

Key Resolutions

• Ordinary: Adopt audited standalone and consolidated financial statements for FY 2025-26.
• Ordinary: Re-appoint Ganesh Ramesh Nibe by rotation.
• Special: Appoint Ravi Kant as Whole-time Director.
• Special: Borrowings beyond limit under Section 180(1)(c).
• Special: Create securities on properties under Section 180(1)(a).
• Special: Loans, guarantees, and security under Section 185.
• Special: Loans, guarantees or investments beyond Section 186.
• Ordinary: Approve RPT with Nibe Maritime Private Limited.
• Ordinary: Approve RPT with Global Munition Limited.
• Ordinary: Approve RPT with Globe Forge Limited.
• Ordinary: Approve RPT with Global Premier Limited.
• Ordinary: Approve RPT with Global Explosives Limited.
• Ordinary: Approve RPT with Nibe Limited.
• Ordinary: Approve RPT with Nibe Aeronautics Limited.

Voting and Results

• Results to be declared per Scrutinizer report within two working days.

Global Defence Industries Limited (formerly Nibe Ordnance and Maritime Limited) — Trading Window closed for Directors, Promoters, Designated Persons and Immediate Relatives from October 01, 2026 until 48 hours after the unaudited financial results for the quarter and half year ending September 30, 2026 are announced.

AGM details

• 41st AGM to be held on Tuesday, 29 September 2026 at 03:00 PM via VC/OAVM.
• Cut-off date for member eligibility is 22 September 2026.
• Electronic voting opens 26 Sep 2026 at 9:00 AM and closes 28 Sep 2026 at 5:00 PM.
• Annual Report FY2025-26 accessible on company and BSE websites.

Financial snapshot

• Standalone total income 668.24 Lakhs; PAT -164.18 Lakhs.
• Consolidated total income 4,300.07 Lakhs; PAT -569.97 Lakhs.
• Standalone EPS -10.72; Consolidated EPS -36.02.
• Net Debt (Consolidated) 26,533.56 Lakhs; Debt-to-Equity 103.13%.
• Operating cash flow: Standalone -196.49 Lakhs; Consolidated -16,192.65 Lakhs.
• Name change to Global Defence Industries Limited in Feb 2026.
• Consolidated capital work-in-progress noted; ongoing capex activity.

Revenue mix and geography

• Domestic revenue from contracts: 4,279.39 Lakhs; exports: 0.
• Revenue from top customer accounted for 100%.
• Revenue from top five customers accounted for 100%.

Capital expenditure and assets

• Consolidated borrowings 28,684.21 Lakhs; cash 2,150.65 Lakhs; net debt 26,533.56 Lakhs.
• Standalone borrowings 300.72 Lakhs; cash 5.86 Lakhs.
• Debt-equity: Standalone 2.63x; Consolidated 103.13%.
• No dividend declared for FY2025-26.

Subsidiaries & group structure

• Subsidiaries: Global Munition, Globe Forge, Nibe Maritime, Global Explosives.
• Step-down: Global Premier Limited (GEL holds 76%).

Governance, audits and controls

• Ravi Kant appointed Whole-time Director from 12 Feb 2026; Ganesh R. Nibe continues.
• Statutory auditors: Kailash Chand Jain & Co.
• Secretarial auditors: D. Maurya & Associates.
• Internal auditors: ADV & Associates.
• Auditors’ report includes Emphasis on going concern for Nibe Maritime.

Risks and outlook

• Risks: inflation, FX, supply chain, talent shortage, policy changes.
• Opportunities: PLI, domestic defence growth, rising global defence spend.
• Defence exports reached ₹38,424 crore in FY2025-26.

Corporate actions and name change

• Name change approved January 2026; SEBI LODR certificate updated.
• MOA/AOA amended to reflect new name.

AGM Details

• AGM date/time: September 29, 2026 at 11:00 AM via VC/OAVM.
• Voting cut-off date: September 22, 2026.
• Remote e-voting window: Sep 26–28, 2026 (09:00 AM–05:00 PM).
• Deemed venue: Registered office under VC/OAVM rules.

Key Resolutions

• Ordinary: Adoption of standalone and consolidated financial statements for FY 2025-26.
• Ordinary: Re-appointment of Ganesh Ramesh Nibe, retiring by rotation.
• Special: Appointment of Ravi Kant as Whole-time Director for three-year term.
• Special: Board authorized to borrow up to Rs 1,000 crores.
• Special: Board authorized to pledge/mortgage/charge assets up to Rs 1,000 crores.
• Special: Loans, guarantees, and securities under Section 185 up to Rs 150 crores.
• Special: Loans/guarantees/investments under Section 186 up to Rs 1,000 crores.
• Special: RPT with NMPL up to Rs 55.50 crores for fifteen months.
• Special: RPT with Global Munition Limited up to Rs 260 crores.
• Special: RPT with Globe Forge Limited up to Rs 870 crores.
• Special: RPT with Global Premier Limited up to Rs 25 crores.
• Special: RPT with Global Explosives Limited up to Rs 25 crores.
• Special: RPT with Nibe Limited up to Rs 237.20 crores.
• Special: RPT with Nibe Aeronautics Limited up to Rs 50 crores.

Director Changes

• Ravi Kant appointed Whole-time Director for three-year term; remuneration as per Schedule V.
• Ganesh Ramesh Nibe re-appointed; retiring by rotation.

Material Related Party Transactions

• NMPL: RPT up to Rs 55.50 crores.
• Global Munition Limited: RPT up to Rs 260 crores.
• Globe Forge Limited: RPT up to Rs 870 crores.
• Global Premier Limited: RPT up to Rs 25 crores.
• Global Explosives Limited: RPT up to Rs 25 crores.
• Nibe Limited: RPT up to Rs 237.20 crores.
• Nibe Aeronautics Limited: RPT up to Rs 50 crores.

Results approval

• Board approved unaudited standalone and consolidated results for quarter ended June 30, 2026.

Auditors appointed

• Internal auditor appointed: M/s Kirtane & Pandit LLP for FY 2026-27.
• Secretarial auditor appointed: M/s D. Maurya & Associates for FY 2026-27.

Fundraising deferred

• Fund raising via preferential issue deferred; to be reconsidered later in light of market volatility.

Corporate name

• Company name: Global Defence Industries Limited (formerly Nibe Ordnance and Maritime Limited).

Meeting Details

• Board meeting on August 13, 2026; time and venue not disclosed.

Key Agenda Items

• Consider and approve unaudited standalone and consolidated financial results for the quarter ended June 30, 2026.
• Fundraising proposal via equity or convertible securities, including rights issue, QIP or preferential issue, subject to approvals.
• Member approval required at General Meeting or Postal Ballot; details to be communicated separately.

Other Notes

• Trading window closed from July 1, 2026, until 48 hours after the unaudited June 30, 2026 results.