Board Meeting Details

The meeting commenced at 02:30 p.m. and concluded at 4:45 p.m.

Key Outcomes Approved

1. Unaudited Financial Results: The Board approved the Unaudited (Standalone & Consolidated) Financial Results for the quarter and half year ended September 30, 2026. The results were reviewed by the Audit Committee and come with a Limited Review Report from the statutory auditor, M/s. Sakshi & Associates, Chartered Accountants.

2. Appointment of Director: The appointment of Mr. Bramhadeo Atmaramji Sawale (DIN: 09835478) as an Additional (Independent) Director for a consecutive period of five years, effective November 12, 2026, subject to shareholder approval.

3. Cessation of Director: Noted the cessation of Mr. Dhruv Goyal (DIN: 06963262), Independent Director, upon completion of his second term, effective close of business hours on November 11, 2026.

4. Committee Re-constitution: Re-constituted the Nomination & Remuneration Committee effective November 12, 2026. The new committee comprises Mr. B A Sawale (Chairperson), Mr. Ajit Sood (Member), and Ms. Rashmi Vij (Member).

5. Restructuring Proposal: Approved in-principle the evaluation of a restructuring, including the potential segregation of one or more businesses into separate entities via a Scheme of Arrangement. The stated purpose is to increase focus on different product verticals and unlock shareholder value.

Detailed Financial Performance (Standalone)

(All figures in ₹ Lakhs)

Quarter Ended September 30, 2026 (Q2 FY27):

  • Total Income: ₹61,191.30
  • Revenue from Operations: ₹61,084.84 (vs. ₹48,799.54 in Q2 FY26, +25.2% YoY)
  • Other Income: ₹106.46
  • Total Expenses: ₹58,082.93
  • Profit Before Tax (PBT): ₹3,108.37 (vs. ₹2,720.37 in Q2 FY26)
  • Tax Expense: ₹789.35
  • Net Profit: ₹2,319.02 (vs. ₹2,026.21 in Q2 FY26)
  • Earnings Per Share (EPS): Basic & Diluted ₹3.61 (vs. ₹3.15 in Q2 FY26)

Half Year Ended September 30, 2026 (H1 FY27):

  • Total Income: ₹1,12,582.44
  • Revenue from Operations: ₹1,12,371.05 (vs. ₹88,496.43 in H1 FY26, +27.0% YoY)
  • Other Income: ₹211.39
  • Profit Before Tax (PBT): ₹5,513.00 (vs. ₹4,994.62 in H1 FY26)
  • Tax Expense: ₹1,402.65
  • Net Profit: ₹4,110.35 (vs. ₹3,720.66 in H1 FY26)
  • Earnings Per Share (EPS): Basic & Diluted ₹6.39 (vs. ₹5.79 in H1 FY26)

Segment-wise Performance (Standalone) for Q2 FY27:

  • Metering, Systems & Services: Revenue ₹27,338.68; Segment Result ₹3,253.14
  • Consumer, Industrial & Services: Revenue ₹33,746.16; Segment Result ₹3,002.10

Balance Sheet Highlights (Standalone) as of September 30, 2026:

  • Total Assets: ₹2,48,795.17 (vs. ₹2,33,804.28 on Mar 31, 2026)
  • Total Equity: ₹1,01,170.68 (vs. ₹97,684.25 on Mar 31, 2026)
  • Total Liabilities: ₹1,47,624.49 (vs. ₹1,36,120.03 on Mar 31, 2026)
  • Borrowings: ₹76,735.20 (Non-current ₹11,394.36 + Current ₹65,340.84)

Detailed Financial Performance (Consolidated)

(All figures in ₹ Lakhs)

Quarter Ended September 30, 2026 (Q2 FY27):

  • Total Income: ₹60,949.31
  • Revenue from Operations: ₹60,831.08 (vs. ₹43,444.82 in Q2 FY26, +40.0% YoY)
  • Other Income: ₹118.23
  • Profit Before Tax (PBT): ₹3,139.25 (vs. ₹3,049.28 in Q2 FY26)
  • Tax Expense: ₹798.88
  • Net Profit: ₹2,340.37 (vs. ₹2,235.73 in Q2 FY26)
  • Net Profit attributable to Owners: ₹2,338.88
  • Earnings Per Share (EPS): Basic & Diluted ₹3.64 (vs. ₹3.46 in Q2 FY26)

Half Year Ended September 30, 2026 (H1 FY27):

  • Total Income: ₹1,12,689.26
  • Revenue from Operations: ₹1,12,355.35 (vs. ₹81,747.69 in H1 FY26, +37.4% YoY)
  • Profit Before Tax (PBT): ₹5,656.18 (vs. ₹5,550.93 in H1 FY26)
  • Tax Expense: ₹1,446.48
  • Net Profit: ₹4,209.70 (vs. ₹4,083.75 in H1 FY26)
  • Net Profit attributable to Owners: ₹4,205.99
  • Earnings Per Share (EPS): Basic & Diluted ₹6.54 (vs. ₹6.33 in H1 FY26)

Subsidiary Information:

The consolidated results include Himachal Energy Private Limited. Its financial results for the period ended September 30, 2026, reflect total assets of ₹12,752.71 lakhs, total revenues of ₹2,261.34 lakhs (Q2) and ₹3,711.54 lakhs (H1), and net profit of ₹52.32 lakhs (Q2) and ₹130.33 lakhs (H1).

Director Profile

Mr. Bramhadeo Atmaramji Sawale is a distinguished professional with over three decades of experience in the power sector. He superannuated as Director General of the Central Power Research Institute (CPRI), Ministry of Power, Government of India, on June 30, 2025. He has extensive expertise in electrical engineering, energy metering, R&D, technical standardization, and regulatory affairs. He holds a B.E. in Electronics, an M.Tech in Digital Communication, and an MBA. He is not related to any other directors and is not debarred from holding the office of director.

Auditor's Review

Sakshi & Associates, Chartered Accountants (Firm Regn. No. 025099N), issued an unmodified limited review report on both the standalone and consolidated financial results. Based on their review, nothing came to their attention causing them to believe that the statements contain any material misstatement.