Pitti Engineering Limited (PEL) announced today, February 5th, 2026, the approval of a Scheme of Amalgamation by its Board of Directors. The scheme involves the amalgamation of its wholly-owned subsidiaries, Pitti Industries Private Limited (PIPL) and Dakshin Foundry Private Limited (DFPL), with Pitti Engineering Limited. This amalgamation is being undertaken under Sections 230 to 232 of the Companies Act, 2013, and is subject to requisite statutory and regulatory approvals, including from the Hon’ble National Company Law Tribunal, Hyderabad Bench. The board meeting commenced at 4:30 PM and concluded at 5:30 PM on February 5th, 2026. As PIPL and DFPL are wholly-owned subsidiaries, the requirement for a No Objection Letter from the Stock Exchanges is not applicable, and the Scheme will be filed with the Stock Exchanges for disclosure purposes. For the period ending March 31st, 2025, PEL reported a standalone turnover of ₹1,511.87 crore and a net worth of ₹762.69 crore. PIPL had a turnover of ₹240.84 crore and a net worth of ₹38.63 crore, while DFPL had a turnover of ₹67.80 crore and a net worth of ₹71.06 crore. The transaction does not fall within related party transactions as per MCA circulars and SEBI regulations. The rationale for the amalgamation is to simplify management, operational, and corporate structures, increase efficiencies, and generate synergies by integrating the similar businesses of PIPL and DFPL with PEL. This consolidation aims for more efficient utilization of resources, cashflows, and assets, creating a stronger base for future growth and a more simplified corporate structure. There will be no cash consideration involved, and no new shares will be issued by PEL, thus resulting in no change in its shareholding pattern.