GOCL Corporation 2026 AGM Transformation & Diversification Update

Date: September 29, 2026

FY 2025-26 Results:

Total Income: ₹2180 crores (prior period: ₹1030 crores)
Profit Before Tax: ₹1827 crores (prior period: ₹217 crores)
Profit After Tax: ₹1522 crores (prior period: ₹157 crores)
Earnings per Share: ₹307 (prior period: ₹32)
Networth: ₹3143 crores (prior period: ₹1576 crores)
The increase in Income & Profit is mainly on account of Sale of Land and divestment of IDL Explosives.

Portfolio Restructuring:

Disengaged from Energetics Business
Divestment of Wholly Owned Subsidiary IDL Explosives Limited completed in November 2025
Commencement of new Electronic Manufacturing Plant at Gummadidala, near Hyderabad

Merger Activity:

Merger of Hinduja National Power Corporation Limited (HNPCL) with GOCL in Progress
Expected to be completed shortly, subject to requisite statutory and regulatory approvals
Expected to add about ₹3000 crores to GOCL's Top line and significant increase in Book Value per share

Asset Overview:

1,040 MW (2×520 MW) coal-based thermal power plant near Visakhapatnam, Andhra Pradesh
Supported by long-term Power Purchase Agreements (PPAs) and coal supply agreements
Strategically located near Vizag - high industrial and manufacturing hub
Grid evacuation infrastructure and port access in place
Availability of land, water and rail infrastructure
Plant residual life of 20+ years

HNPCL Financial Performance (FY 2025-26):

Income from operations: ₹2931 crores
Net profit: ₹229 crores (including ₹182 crores of regulatory and exceptional income)
Net worth: ₹8309 crores

Growth Potential:

Significant long-term growth potential through planned 600 MW brownfield expansion

Hyderabad Land:

Out of MoU signed for 264 acres, completed sale of 157 acres of land at Kukatpally
Proceeds temporarily deployed in inter-corporate loans for optimal utilisation
Monetization of balance land at Kukatpally in progress

Bengaluru Ecopolis Project:

IDL Explosives Limited (up to 15th November 2025):

HGHL Holdings Limited, UK:

Reported profit of ₹21 crores (prior period: ₹7 crores)
Holds 10% strategic investment in Old War Office redevelopment project in London
Project now operational as "Raffles London at The OWO" comprising luxury hotel and 85 branded residences

Business Model:

Integrated Electronics Manufacturing Services (EMS) provider
End-to-end solutions across product lifecycle: Design and engineering, Prototyping, Manufacturing, Testing & fulfilment
Capabilities beyond conventional Contract Manufacturing including Original Design Manufacturing (ODM)

Customer Portfolio:

Future Strategy:

Strengthen position as Original Design Manufacturing (ODM) solutions provider
Move up value chain from manufacturing to product design and engineering services
Build strong Design for Manufacturability (DFM) capabilities
Expand engineering support and partner with OEMs from concept to production
Increase local value addition and develop indigenous product designs
Expand into high-growth sectors: Industrial electronics, Defence, IOT, Automotive and e-Mobility

CSR focus areas: Healthcare, Education and Sustainable development
Renovation and upgradation of Smt. Jamuna Parmanand Hinduja Mahila Ghat at Har ki Pauri, Haridwar
Education related CSR undertaken in Rourkela, Odisha
Total CSR spending: ₹104 Lakhs in the year

Rationale for Thermal Power Entry:

Deploy capital into sustainable, scalable business aligned with India's long-term economic priorities
Comprehensive assessment of multiple industry segments undertaken
Energy sector identified as most compelling avenue for long-term value creation
Avoided greenfield Thermal plant due to heavy capex, 6-10 year timeline, capital tying, and revenue delays