Meeting Details

The 31st Annual General Meeting will be held on Friday, July 31, 2026, at 03:30 PM (IST) through Video Conferencing (VC) / Other Audio Visual Means (OAVM).

Ordinary Business

  • Declaration of Final Dividend of ₹3.50 per equity share for the financial year ended March 31, 2026

Special Business - Key Resolutions

5. Approval of remuneration of Mr. K V Nachiappan (DIN: 00017182), Whole Time Director

  • Special Resolution for payment of remuneration from August 1, 2026, to April 19, 2028
  • Monthly remuneration not to exceed ₹2,87,500 or ₹34,50,000 per annum
  • Additional perquisites including LTC, car with expenses, telephone, soft furnishing allowance (up to ₹3,00,000 pa), medical reimbursement, security guard charges (up to ₹3,50,000 pa)
  • Commission @ 0.25% of Net Profits, not exceeding ₹10,00,000 per annum
  • Minimum remuneration payable even if company has no profits or inadequate profits
  • Mr. Nachiappan handles execution of Solar Power Projects, O&M Services, and Development of Battery Energy Storage Systems (BESS)

6. Revision of remuneration of Mr. V C Raghunath (DIN: 00703922), Whole Time Director

  • Special Resolution for increased remuneration from April 1, 2026, to July 27, 2027
  • Mr. Raghunath handles EPC business including Sales, Business Development, Engineering, Project Planning, Execution and Land acquisition

7. Revision of remuneration of Ms. V C Mirunalini (DIN: 07860175), Whole Time Director

  • Special Resolution for increased remuneration from April 1, 2026, to June 27, 2027
  • Ms. Mirunalini is Head of the Solar PV Module Manufacturing Facility (SWELECT HHV Solar Photovoltaics Private Limited) with 18 years of experience

8. Approval of remuneration payable to Ms. Aarthi Balan, Vice President - MARCOM, IT and Channels

  • Ordinary Resolution as she is a related party (daughter of Mr. A Balan, Promoter and Whole-time Director)
  • Remuneration not to exceed ₹2,73,965 per month or ₹32,87,580 per annum effective April 1, 2026
  • Additional benefits: PF contribution, gratuity, car expenses, telephone, medical reimbursement (₹1,00,000 pa), LTC, leave encashment, performance-based incentive
  • Commission @ 0.1% of Net Profits
  • B.E., M.S. graduate with about 20 years of experience, joined July 14, 2008

9. Approval of remuneration payable to Ms. Preetha Balan, Vice President - Process Automation, Admin and HR

  • Ordinary Resolution as she is a related party (daughter of Mr. A Balan, Promoter and Whole-time Director)
  • Remuneration not to exceed ₹2,63,225 per month or ₹31,58,700 per annum effective April 1, 2026
  • Additional benefits: PF contribution, gratuity, car expenses, telephone, medical reimbursement (₹1,00,000 pa), LTC, leave encashment, performance-based incentive
  • Commission @ 0.1% of Net Profits
  • B.E., M.S. graduate with over 12 years experience, joined May 1, 2014

10. Ratification of remuneration of Cost Auditors

  • Ordinary Resolution to ratify remuneration of M/s. Ravichandran Bhagyalakshmi & Associates (Firm Registration No. 001253)
  • Amount: ₹1,50,000 plus applicable tax and out-of-pocket expenses for auditing cost records for FY2026-27

11. Approval for increasing borrowing powers

  • Special Resolution to increase borrowing limit from ₹750 crore to ₹2000 crore
  • Required for proposed expansion and upgradation programmes

12. Authorization to create charge on properties

  • Special Resolution to authorize creating charge/lien/mortgage on company properties to secure borrowings

13. Approval for increasing limit for giving loans/guarantees

  • Special Resolution to increase limit from ₹600 crore to ₹2000 crore for providing financial assistance to subsidiaries/associates/JVs/group entities
  • For capital expenditure and working capital requirements for principal business activities

Addendum Resolutions (Item Nos. 15-17)

15. Approval of Material Related Party Transactions with USolar Assetco Four Private Limited

  • Special Resolution for transactions amounting to ₹22,990 lakhs with subsidiary company

16. Approval of Material Related Party Transactions of SWELECT SolarKraft Private Limited with Gridnex Solar Power Private Limited

  • Special Resolution for transactions amounting to ₹38,736 lakhs

17. Approval of Material Related Party Transactions between the Company and Gridnex Solar Power Private Limited

  • Special Resolution for transactions amounting to ₹39,012 lakhs

Dividend Information

  • Final Dividend: ₹3.50 per equity share recommended for FY2025-26
  • Payment Date: August 13, 2026, to members on register as of July 24, 2026
  • TDS will be deducted @ 10% for residents with valid PAN, 20% for those without PAN or unlinked PAN-Aadhaar
  • No TDS for individuals if total dividend during FY2026-27 doesn't exceed ₹10,000
  • For non-residents: TDS @ 20% plus surcharge/cess or Tax Treaty Rate, whichever lower

Unclaimed Dividend and Shares Transfer

  • Transferred ₹75,080 to IEPF on September 18, 2025, for unclaimed dividend of FY2017-18
  • Transferred 185 equity shares to IEPF Authority on October 13, 2025, for shares with unclaimed dividend for 7+ years
  • Due date for transfer of unclaimed Final dividend for FY2018-19: September 13, 2026

E-Voting Instructions

  • Remote e-voting period: July 28, 2026 (9:00 Hrs) to July 30, 2026 (17:00 Hrs)
  • Cut-off date: July 24, 2026
  • Scrutinizer: M/s. P. Eswaramoorthy and Company, Company Secretaries
  • Results to be announced within two working days of meeting conclusion

Financial Impact

  • Director remuneration approvals have quantified financial impact as specified in each resolution
  • Borrowing limit increase to ₹2000 crore may significantly impact capital structure
  • Related party transactions involve substantial amounts (₹22,990 lakhs, ₹38,736 lakhs, ₹39,012 lakhs)
  • Dividend payout amount not quantified in the disclosure