Counter Cyclical Investments Private Limited has reduced its shareholding in Evans Electric Limited from 5.74% to 5.61% through the disposal of 7000 shares via open market sale on March 16, 2026. The Portfolio Manager, acting through its clients, filed the mandatory disclosure under SEBI SAST Regulations, with the transaction reducing its total holding from 315000 to 308000 shares. Evans Electric's total equity share capital stands at 5488000 shares listed on BSE Limited.

Counter Cyclical Investments Private Limited reduces shareholding in Evans Electric Limited to 5.61%

Counter Cyclical Investments Private Limited has disclosed a reduction in its shareholding in Evans Electric Limited, filing the mandatory disclosure under SEBI's Substantial Acquisition of Shares and Takeovers (SAST) Regulations. The Portfolio Manager, acting through its clients, disposed of shares through open market transactions on March 16, 2026.

Shareholding Reduction Details

The company sold 7000 shares of Evans Electric Limited through open market transactions, representing 0.13% of the total share capital. This disposal reduced Counter Cyclical Investments' total shareholding from 315000 shares to 308000 shares.

Parameter: Before Disposal Disposal After Disposal Number of Shares: 315000 7000 308000 Percentage Holding: 5.74% 0.13% 5.61% Voting Rights: 5.74% 0.13% 5.61%

Company Information

Counter Cyclical Investments Private Limited operates as a Portfolio Manager with its registered office located in Nagpur, Maharashtra. The company holds CIN U65999PN2018PTC175591 and is not part of Evans Electric's promoter or promoter group.

Detail: Information Acquirer: Counter Cyclical Investments Private Limited (PMS) Target Company: Evans Electric Limited Transaction Date: March 16, 2026 Mode of Disposal: Open Market Stock Exchange: BSE Limited

Regulatory Compliance

The disclosure was made in accordance with Regulation 29(2) of SEBI's Substantial Acquisition of Shares and Takeovers Regulations, 2011. The filing was submitted to both Evans Electric Limited and BSE Limited on March 17, 2026, signed by Director Parminder Pal Singh Bhatia (DIN: 07159378).

Evans Electric Limited's total equity share capital remains at 5488000 shares, with the company's shares listed on BSE Limited. The disposal represents a minor reduction in Counter Cyclical Investments' stake while maintaining its position as a significant shareholder in the electrical equipment manufacturer.

Evans Electric Limited has announced the resignation of its Chief Financial Officer (CFO) and Key Managerial Personnel, Mr. Prathamesh Wadekar, effective February 28, 2026. The resignation has been submitted to pursue further education under the Chartered Accountancy (CA) Final program.

Regulatory Disclosure Details

The company filed the mandatory disclosure with BSE Limited on February 18, 2026, pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notification was signed by Director Ivor Anthony Desouza and submitted to comply with regulatory requirements for key managerial personnel changes.

Parameter Details Reason for Change Resignation to pursue CA Final program Effective Date February 28, 2026 Notification Date February 18, 2026 Company Code 542668 ISIN INE06TD01010

Management's Response

The company has placed on record its appreciation for the services rendered by Mr. Prathamesh Wadekar during his tenure as CFO. In his resignation letter, Wadekar confirmed that there are no other material reasons for his resignation beyond pursuing further education under the Chartered Accountancy Final program.

Professional Transition

Wadekar expressed gratitude for the opportunities and guidance received during his tenure with Evans Electric Limited. He acknowledged the professional enrichment gained from working with the team and expressed pride in his contributions toward strengthening the company's financial and operational framework. The resignation letter requested management to consider the resignation for all statutory, regulatory, and banking purposes, including necessary filings with the Registrar of Companies and updates to bank authorized signatory mandates.

Company Operations

Evans Electric Limited, incorporated in 1951, operates in the heavy electro-mechanical repairs sector. The company maintains its registered office in Santa Cruz (West), Mumbai, and operates manufacturing facilities in Palghar, Maharashtra. The resignation represents a planned transition as the CFO pursues advanced professional qualifications in chartered accountancy.

We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better.

Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians.

As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation. We plan to change that - a technology-led platform built for super traders and long term investors.