PPAP Automotive Limited

PPAP Automotive Limited has received an order from the National Company Law Tribunal (NCLT), New Delhi Bench, regarding the merger of its wholly-owned subsidiary, Avinya Batteries Limited. The NCLT has dispensed with the requirement of convening a meeting of Avinya Batteries' shareholders but has directed meetings for the secured and unsecured creditors of Avinya Batteries. Additionally, meetings for the shareholders, secured creditors, and unsecured creditors of PPAP Automotive Limited are also mandated. The company will proceed with these meetings as per the tribunal's order and will provide further updates.

PPAP Automotive Ltd has announced the closure of its trading window for designated persons and their immediate relatives. This closure is in compliance with the SEBI (Prohibition of Insider Trading) Regulations, 2015. The window will be shut from July 1, 2026, until 48 hours after the declaration of the company's financial results for the quarter ended June 30, 2026. This measure is intended to prevent potential insider trading activities during the sensitive period leading up to and immediately following the financial results announcement.

PPAP Automotive Ltd announced the reconstitution of its Board Committees and the appointment of Mrs. Meeta Makhan as an Additional Director (Independent). Mrs. Makhan's appointment is effective June 25, 2026, and she will serve until the conclusion of the Annual General Meeting, with a term as Independent Director extending up to June 24, 2028, subject to shareholder approval. She brings over 25 years of experience in banking and financial services. The company also updated the composition of its Audit Committee, Nomination & Remuneration Committee, and Stakeholders Relationship Committee.

PPAP Automotive Ltd announced the appointment of Mrs. Meeta Makhan as an Additional Director (Independent) to its Board, effective June 25, 2026. This appointment, recommended by the Nomination and Remuneration Committee, is subject to shareholder approval and is for a term of two consecutive years, concluding on June 24, 2028. Mrs. Makhan brings over 25 years of experience in the banking and financial services sector, having held senior leadership roles at institutions like Citibank and Standard Chartered Bank. She also serves on the boards of other listed entities and founded Doundo Services Private Limited. Her appointment also led to a reconstitution of the company's Audit, Nomination & Remuneration, and Stakeholders Relationship Committees.

PPAP Automotive Ltd has entered into a strategic partnership with HUTCHINSON, a global leader in automotive sealing solutions. This collaboration will enable PPAP to manufacture advanced body sealing systems in India for the passenger vehicle segment, leveraging HUTCHINSON's technology, licensed know-how, and technical support. The agreement grants PPAP exclusive rights in India to manufacture, market, and sell these advanced products. HUTCHINSON, with a revenue of approximately €5.0 billion in 2025, will provide ongoing technical assistance. This partnership is expected to strengthen PPAP's product portfolio, enhance its technological capabilities, and drive revenue growth in the Indian passenger vehicle market.

PPAP Automotive Ltd has entered into a technology partnership with Hutchinson, a global specialist in multi-material solutions. This collaboration will enable PPAP to manufacture advanced body sealing systems in India for the passenger vehicle segment, leveraging Hutchinson's technology, know-how, and ongoing technical support. The partnership aims to enhance PPAP's technological capabilities, expand its product portfolio, and better serve evolving OEM requirements in India. Production will occur at PPAP's existing facilities, supporting technology-driven growth and deeper engagement with OEMs across conventional and next-generation mobility platforms.

PPAP Automotive Ltd's board has approved a final dividend of ₹1.5 per equity share of ₹10 each for the financial year ended March 31, 2026, subject to shareholder approval at the upcoming AGM. The dividend, if approved, will be paid within 30 days of the AGM. The board also approved audited financial results, re-appointment of Mr. Ajay Kumar Jain as Chairman and Managing Director, merger of Avinya Batteries Limited with PPAP Automotive, and the slump sale of the Tooling Business to Meraki Precision Tool Engineering Limited.

PPAP Automotive Ltd's board reappointed Mr. Ajay Kumar Jain as Chairman and Managing Director for three years, effective November 1, 2026, subject to shareholder approval. The board also approved audited financial results for the year ended March 31, 2026, recommended a final dividend of ₹1.5 per share, approved the merger of Avinya Batteries Limited with PPAP Automotive, and approved the slump sale of the Tooling Business to Meraki Precision Tool Engineering Limited.

PPAP Automotive Ltd's board approved the merger of Avinya Batteries with PPAP Automotive and the slump sale of its Tooling business to Meraki Precision Tool Engineering Limited on May 11, 2026. The board also approved audited financial results for the year ended March 31, 2026, and recommended a final dividend of ₹1.5 per share. Additionally, Mr. Ajay Kumar Jain was re-appointed as Chairman and Managing Director for three years, subject to shareholder approval.

PPAP Automotive Ltd's board approved the audited financial results for the quarter and year ended March 31, 2026, with an unmodified audit opinion from M/s TR Chadha & Co. LLP. A final dividend of ₹1.5 per equity share has been recommended, subject to shareholder approval. The board also approved the re-appointment of Mr. Ajay Kumar Jain as Chairman and Managing Director for three years. Additionally, the merger of Avinya Batteries Limited with PPAP Automotive and the slump sale of the Tooling Business to Meraki Precision Tool Engineering Limited were approved.