Avana Electrosystems Set AGM Date; Director Re-appointment Approved Amid Manufacturing Progress Update
Avana Electrosystems Limited announced several key decisions following its Board Meeting held on August 19, 2026. The company fixed the date for its 16th Annual General Meeting (AGM) and approved the re-appointment of a Whole Time Director. Furthermore, the company provided an update on its integrated manufacturing unit, noting that commercial production is expected by the end of October 2026.The Board meeting focused on operational efficiency and corporate governance structure. The date for the upcoming AGM was fixed as September 28, 2026, which will be conducted through Video Conferencing or other Audio Visual Means.
Key decisions approved during the meeting included:
- Director Re-appointment: Mr. Gururaj Dambal (DIN: 03099402) was approved for re-appointment as a Whole Time Director liable to retire by rotation, subject to shareholder approval at the AGM.
- Scrutinizer Appointment: Karthik, a Practising Company Secretary and partner of Karthik Supreeta & Associates, was appointed to scrutinize the Postal Ballot process.
- Shareholder Eligibility Cut-off: September 21, 2026 has been set as the cut-off date for determining the shareholders eligible to vote on the resolutions presented at the AGM.
Manufacturing Unit Update
The company provided an update regarding its integrated manufacturing unit, which was established on land obtained through lease and license from the Karnataka Industrial Areas Development Board (KIADB).Avana Electrosystems Limited is taking necessary steps towards commencing commercial production. The management stated that the unit is nearing completion, and the company expects to commence commercial operations by the end of October 2026, ahead of extended timelines set by KIADB.
Director Profile and Governance Details
The Board meeting reviewed the profile and experience of Mr. Gururaj Dambal in connection with his re-appointment. The following details regarding Mr. Dambal were noted:| Detail | Information |
|---|---|
| Name of Director | Mr. Gururaj Dambal |
| Director Identification Number (DIN) | 03099402 |
| Date of Birth and Age | August 1977, 49 Years |
| Date of First Appointment | July 16, 2010 |
| Profile/Experience | Over 23 years in the Electrical Industry. Currently responsible for product development, automation, purchase, assembly, testing, and delivery in the relay unit. |
| Expertise | Extensive experience in product development across measuring instruments, security systems, power protection relays, communication protocol devices, electromechanical relays, and custom-built products. Proficient in firmware development using IAssembly and Embedded C. |
| Shareholding | 42,39,705 shares (18.72%) |
| Remuneration for FY 2026-27 | Rs. 7,67,000/- Per Month |
| Remuneration for FY 2025-26 | Rs. 74.62 Lakhs Per Annum |
| Board Meetings Attended (FY 2025-26) | 23 |
AVANA Stock Price Movement
Today, Avana Electrosystems Limited shares edged higher to settle at ₹140.5 after gaining 2.26% in the close. The stock traded within a narrow intraday range of ₹140.5 to ₹140.65, with a total volume recorded of 4,000 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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