Marine Electricals (India) Limited — Board Meeting, 12-02-2025: Outcome of Board Meeting

The Board of Directors has approved the unaudited standalone and consolidated financial results for the quarter ended December 31, 2024. Key decisions included a divestment of 50% equity in Athmar India Private Limited for ₹0.50 lakh, ceasing its association with the company. Additionally, further investment of ₹50 lakh was approved to acquire 10% equity in Marks Marine Radio Private Limited, which will become a subsidiary, and a 26% stake in Xanatech Synergies Private Limited, making it a wholly-owned subsidiary. The revised cost for proceeds from the preferential issue of equity shares has also been updated.