The Board of Directors of Maharashtra Scooters Limited has approved proposals to amend its Memorandum of Association to include renewable energy generation and formally change the company’s name, pending approval from shareholders and regulatory authorities.
Why Maharashtra Scooters Is Dropping Its Manufacturing Clauses
The proposed amendments involve removing legacy scooter manufacturing clauses from the company's Memorandum of Association. Maharashtra Scooters, formerly Bajaj Holdings & Investment, discontinued manufacturing geared scooters in 2006 and ceased its remaining tool room operations during the 2025 fiscal year. The company operates as an Unregistered Core Investment Company under Reserve Bank of India regulations, holding over 90% of its net assets as investments in group companies.
Renewable Energy Entry and Name Change Rationale
Under the board's proposal, the company seeks to insert a new object clause permitting the generation and production of renewable energy through solar, wind, and other natural resources. Management stated that the potential energy business can be combined with its existing investment activities without affecting its status as an Unregistered Core Investment Company.
Alongside the constitutional changes, the board approved a proposal to alter the corporate name to align with its core strategic functions as an investment entity.
Maharashtra Scooters Q1 FY27 Financial Results
For the first quarter ended June 30, 2026, Maharashtra Scooters reported total revenue from operations of Rs 5.41 crore, a significant decrease compared to Rs 29.27 crore in the corresponding period of the previous fiscal year. Net profit after tax for the quarter stood at Rs 3.32 crore, down from Rs 35.36 crore recorded in the same period last year. Total expenses for the period dropped to Rs 86 lakh from Rs 1.09 crore in the prior year period.