The Sona Comstar Board met on March 20, 2026, approving a ₹622 million Capex budget for gear capacity enhancement in its Driveline Business, targeting addition by FY 2027-28. Concurrently, the Board accepted the resignation of Mr. Ajay Pratap Singh, effective April 15, 2026. In subsequent appointments, Ms. Suman Poddar was named Company Secretary and Mr. Arjun Singh was appointed Compliance Officer, both effective April 16, 2026.
Major Board Decisions on March 20, 2026
The Board of Directors of Sona BLW Precision Forgings Ltd. (Sona Comstar) convened on March 20, 2026, to review and approve several key corporate actions, including capital expenditure and leadership changes.
1. Capacity Expansion Investment Approved
The Board sanctioned a Capital Expenditure (Capex) budget for the financial year 2026-27, based on the recommendation of the Capex Committee. The allocation totals INR 622 million (Indian Rupees Six Hundred Twenty-Two Million), dedicated to gear capacity enhancement within the Company’s Driveline Business. The existing capacity stands at 64.1 million gears, currently utilized at approximately 80% based on nine-months data for FY 2025-26. This investment aims to add an Addition of 4.1 million gears, with the proposed capacity expected to be operational between the financial year 2027 – 2028.
2. Resignation of Senior Executive Noted
The Board took note of the resignation submitted by Mr. Ajay Pratap Singh from his roles as Sr. Vice President (Legal), Company Secretary, and Compliance Officer. His resignation will be effective at the close of business hours on April 15, 2026. The company confirmed that the process to fill the permanent position is underway, and interim responsibilities have been delegated to existing employees.
3. Key Appointments for Future Governance
Following recommendations from the Nomination and Remuneration Committee, the Board made two crucial appointments effective from the day after Mr. Singh’s departure:
Appointment of Ms. Suman Poddar as Company Secretary
Ms. Suman Poddar was appointed as Company Secretary and Key Managerial Personnel, effective from April 16, 2026. Ms. Poddar currently serves as Manager Corporate Secretarial and has over 16 years of experience in corporate secretarial, governance, and M&A, having been associated with Sona BLW Precision Forgings Limited for over 8 years.
Appointment of Mr. Arjun Singh as Compliance Officer
Mr. Arjun Singh was appointed as Compliance Officer and Key Managerial Personnel, also effective from April 16, 2026. Mr. Singh is a qualified Company Secretary with over 9 years of professional experience in regulatory compliance, including IPOs and corporate restructuring. He has been working with the Company as Manager Corporate Secretarial since April, 2021.
Meeting Summary
The Board meeting commenced at 05:07 p.m. (IST) and concluded at 06:34 p.m. (IST).
Source: BSE
