Vardhman Textiles Limited announced that shareholders, via a Postal Ballot on March 11, 2026, approved a key amendment to the company’s Memorandum of Association. This alteration specifically inserts a new sub-clause allowing the company to set up, acquire, manage, and deal in electricity generation and distribution from various sources, including conventional and non-conventional means, for captive use or sale. This move broadens Vardhman’s scope beyond its core textile operations.
Shareholder Approval for MOA Amendment
Vardhman Textiles Limited has formally disclosed the outcome of the Postal Ballot conducted on March 11, 2026. The shareholders of the company have approved the proposed alteration to the object clause within the Memorandum of Association (MOA) of the Company.
This specific approval involves inserting a new sub-clause, (xxxiv), under Clause III (B) of the MOA, focusing on objects described as incidental or ancillary to the attainment of the Main Objects.
New Business Scope: Electricity Generation
The newly approved object clause authorizes Vardhman Textiles to engage extensively in the power sector. The scope explicitly includes the power to:
- Set up, purchase, or otherwise acquire and manage electricity generation plants and facilities.
- Generate, accumulate, distribute, supply, sell, or otherwise deal with electricity derived from all kinds of sources.
- This includes hydel, thermal, nuclear, gaseous, solar, wind, and other non-conventional sources.
- The operations can be undertaken either independently or in collaboration with any third party, specifically for captive consumption or selling to external parties.
This strategic expansion into the energy sector, approved on March 11, 2026, signals a diversification effort for the company as it seeks to capitalize on energy infrastructure opportunities, either for internal operational efficiency or external revenue generation.
Source: BSE
