Outcome of Board Meeting

September 23, 2026 BSE Limited National Stock Exchange of India Limited The Department of Corporate Services The Listing Compliance Department Phiroze Jeejeebhoy Towers Exchange Plaza Bandra-Kurla Complex Dalal Street, Bandra (E), Mumbai – 400 051 Mumbai – 400 001 Scrip Code: QPOWER Scrip Code: 544367 Dear Madam/Sir, Reference: Our prior intimation dated September 20, 2026, under Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”). Subject: Outcome of the Meeting of Board of Directors of Quality Power Electrical Equipments Limited (“Company”) held on September 23, 2026. In accordance with Regulation 30 of the SEBI Listing Regulations read with Schedule - III thereto, we wish to inform you that the Board of Directors of the Company at its meeting held today i.e., September 23, 2026, have considered and approved the following, in each case subject to the approval of the members of the Company and such other approvals as may be required: 1) Allotment of upto 10,17,123 equity shares of the Company to certain Selling Shareholders/Proposed Allottees of Winwin Speciality Insulators Limited (“Win Win” or “Target”) in terms of the Share Purchase Agreement dated September 23, 2026 (“SPA”) The Company and certain Selling Shareholders of Win Win, as set out below, have entered into a SPA in relation to, inter alia, the acquisition by the Company of an aggregate of upto 1,91,95,007 fully paid-up equity shares of Win Win, having a face value of ₹10 each, representing upto 100.00% of the total paid-up equity share capital of Win Win, at an acquisition price of upto ₹141.88 per equity share, for an aggregate consideration of upto ₹272.34 Crores (“Total Consideration”). The Total Consideration shall be discharged by a combination of issue of equity shares and cash. The Company shall issue and allot up to 10,17,123 fully paid-up equity shares of the Company to certain Selling Shareholders, for consideration other than cash (“Swap Shares”). The issue and allotment of the Swap Shares shall be subject to the fulfilment and/or waiver, as applicable, of the conditions precedent specified in the SPA, to the satisfaction of the Company, and shall constitute a preferential issue of equity shares by the Company (“Preferential Issue”). The Swap Shares proposed to be issued pursuant to the Preferential Issue shall be issued on a preferential basis in accordance with Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (“ICDR Regulations”), and shall be subject to receipt of all requisite approvals, including the approval of the shareholders of the Company, the National Stock Exchange of India Limited (“NSE”) and BSE Limited (“BSE”), as may be applicable. Details of Selling Shareholders and maximum number of Swap Shares proposed to be issued are as below: Sl. No. Name of the Selling Shareholder Number of equity shares Maximum number of of Win Win # of Win Win proposed to Swap Shares proposed be acquired through to be issued for swap arrangement discharge of consideration 1. Kamesh Yalamarty 64,14,448 6,23,347 2. Aaditya Yalamarty 16,57,114 1,61,036 3. Runa Yalamarty 14,09,592 1,36,982 4. Sridhar Gogula 3,98,010 38,678 5. Yadavalli Vaishnavi Sahithy 49,761 4,836 6. Lalitha Ratnam * 2,43,222 23,636 7. Kakulamarri Sharmila Rao * 1,32,677 12,893 8. Kakulamarri Navya Rao * 66,355 6,448 9. Y L K Gomathi * 62,187 6,043 10. Kakulamarri Nitya Vasuda * 33,178 3,224 Total 1,04,66,544 10,17,123 # Allotment to the Selling Shareholders / Proposed Allottee is subject to completion of conditions precedent as specified in the SPA. * Allotment to the Selling Shareholders / Proposed Allottee is subject to valid accession to the SPA in accordance with the terms therein under. As agreed in the SPA, the Board of Directors of the Company has approved the issuance of Swap Shares at an issue price of ₹1,460.00 per equity share, being higher than the floor price of ₹1,456.40 per equity share determined in accordance with the applicable provisions of the ICDR Regulations. The balance consideration of upto ₹123.84 crores shall be discharged by way of cash consideration and same shall be subject to customary adjustment in terms of the SPA. The specific details required to be disclosed pursuant to the SEBI Circular dated January 30, 2026 bearing reference no. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 are set out in Annexure – A-I and Annexure A-II to this disclosure. 2) Fund raising by way of a Qualified Institutions Placement (QIP): Raising of funds by way of issuance of Equity Shares or any other securities, for an aggregate amount not exceeding ₹700 Crores (Rupees Seven Hundred Crore only) or an equivalent amount thereof, by way of one or more Qualified Institutions Placement ("QIP") subject to such regulatory/statutory approvals as may be required and the approval of the shareholders of the Company. Brief details in accordance with the SEBI Listing Regulations read with the SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 is enclosed as Annexure B. Convening of an Extra-Ordinary General Meeting (“EGM”) of the shareholders of the Company on October 19, 2026 through video conferencing or other audio-visual means, for seeking necessary approval of the shareholders for the aforesaid matters. 3) Nominated Mr C. M. Shylendra Kumar, Chief Technology Officer of the Company, as Nominee Director to the Board of Sukrut Electric Company Limited The meeting of the Board of Directors of the Company duly commenced at 07.05 p.m. and concluded at 8.40 p.m. IST. A copy of this disclosure will also be uploaded on the website of the Company at www.qualitypower.com We request you to kindly take note of the above intimation on your record and disseminate. Thanking You Yours faithfully, For QUALITY POWER ELECTRICAL EQUIPMENTS LIMITED Deepak Suryavanshi Company Secretary and Compliance Officer ICSI Membership No.: A27641 Place: Sangli Enclosure: As stated above Annexure – A-I Particulars Details Name of the target entity, details in brief such as size, Winwin Speciality Insulators Limited turnover etc. CIN: U31900AP2019PLC112466 Registered office: Plot No.31, APSEZ, Duppituru Village, Atchutapuram Mandal, Anakapalli District, Vishakhapatnam, Vishakhapatnam, Andhra Pradesh - 531011, India. Win Win is engaged in manufacture of high-voltage ceramic and polymeric insulators. Whether the acquisition would fall within related No party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length” Industry to which the entity being acquired belongs Electrical equipment / power transmission equipment industry. Objects and impact of acquisition (including but not To enhance the competitiveness and integrated limited to, disclosure of reasons for acquisition of business model of the Company. target entity, if its business is outside the main line of business of the listed entity) Brief details of any governmental or regulatory The said transaction is subject to requisite approvals required for the acquisition government / regulatory approval including approval of the NSE and BSE. Indicative time period for completion of the On or before March 31, 2027 acquisition Consideration - whether cash consideration or share Both, as more particularly stated above. swap or any other form and details of the same Cost of acquisition and/or the price at which the Upto ₹ 141.88 shares are acquired Percentage of shareholding / control acquired and / Upto 100% equity share capital of the Win Win or number of shares acquired Brief background about the entity acquired in terms Revenue from operations: of products/line of business acquired, date of FY 2025-26 – approximately ₹17.07 crore incorp [Showing first 8,000 characters — download PDF for full document]