Financial Performance Highlights

FY 2025-26 Financial Results:

  • Revenue from operations: ₹78,207.91 lakhs (₹782.08 Cr), up 27.84% from FY25 (₹61,177.74 lakhs)
  • Total Income: ₹79,251.34 lakhs (₹792.51 Cr)
  • EBITDA: ₹13,073.71 lakhs, up 41.23% YoY
  • Profit After Tax: ₹9,277.11 lakhs (₹92.77 Cr), up 45.22% YoY
  • Earnings Per Share: ₹87.36 (basic and diluted)
  • Net Worth: ₹37,370.60 lakhs (₹373.71 Cr)

Dividend Declaration:

  • Recommended dividend of ₹10.00 per equity share (100%) for FY 2025-26
  • Subject to shareholder approval at AGM

Operational Highlights

Capacity Expansion:

  • Manufacturing capacity increased from 9,000 MVA in FY25 to 12,000 MVA in FY26
  • Further ramped up to 14,000 MVA in June 2026
  • Target to reach 25,000 MVA by FY27 and 50,000 MVA by 2028
  • Entered 400 kV transformer segment with qualification for NTPC's BESS projects

Order Book:

  • Strong order book of approximately ₹1,339.1 Cr as of March 31, 2026
  • Provides visibility for FY27 and beyond

Credit Rating:

  • Upgraded by India Ratings from BBB-/A3 to BBB+/A2
  • Reflects improved operational scale and financial profile

Corporate Actions and AGM Matters

34th Annual General Meeting:

  • Date: September 23, 2026, at 10:30 AM IST
  • Mode: Video Conferencing/Other Audio Visual Means

Ordinary Business:

1. Adoption of audited financial statements for FY 2025-26

2. Declaration of dividend

3. Reappointment of Mr. Sharat Chandra Kolla (DIN: 08851423) as director retiring by rotation

Special Business:

4. Approval of material related party transactions with Shirdi Sai Electricals Limited (Holding Company):

  • Sale of goods: ₹100 Cr
  • Purchase of goods: ₹100 Cr
  • Availing/rendering services: ₹45 Cr
  • Reimbursement of expenses: ₹5 Cr
  • Total: ₹250 Cr for FY 2026-27

5. Ratification of remuneration of Cost Auditor Mr. K Suryanarayanan: ₹2.75 lakh + taxes for FY 2026-27

6. Approval for borrowing limits up to ₹500 Cr under Section 180(1)(c) of Companies Act, 2013

7. Approval for creation of mortgage/charge on company properties for securing borrowings

8. Approval of Indo-Tech Transformers Limited Employee Stock Option Plan 2026 (ITTL ESOP 2026):

  • Maximum 2,00,000 equity shares (1.88% of paid-up equity)
  • For employees of company, holding company and subsidiaries

9. Approval for offering ESOP to eligible employees of holding company and subsidiaries

Board and Management Changes

Directors:

  • Mr. Shridhar Gokhale resigned as CEO and Whole-Time Director effective April 7, 2025
  • Dr. Sutanu Behuria completed term as Independent Director effective August 18, 2025
  • Mr. Manohar Purushothaman appointed as CEO and Whole-Time Director effective May 20, 2025
  • Mr. Shiva Prasad Padhy appointed as Company Secretary effective May 20, 2025
  • Mr. Dayanand Ramakrishnan appointed as Chief Operating Officer effective May 20, 2025
  • Mr. Karthick D appointed as Compliance Officer effective March 27, 2025

Current Board Composition:

  • Mr. N Visweswara Reddy (Group Chairman, Promoter and Non-Executive Director)
  • Mr. Ajay Kumar Dhagat (Independent Director & Non-Executive Chairman)
  • Mr. Manohar Purushothaman (CEO & Whole-Time Director)
  • Ms. Leena M Sathyanarayanan (Independent Director)
  • Mr. Sharat Chandra Kolla (Non-Executive Director)
  • Mr. Sudheer Vennam (Non-Executive Director)

Capital Structure and Shareholding

Equity Share Capital: ₹10.62 Cr (1,06,20,000 shares of ₹10 each)

Shareholding Pattern (as of March 31, 2026):

  • Indian Promoter Company: 75.00% (Shirdi Sai Electricals Limited)
  • Public: 20.18%
  • Other Bodies Corporate: 1.85%
  • Hindu Undivided Family: 1.55%
  • Non-Resident Indians: 0.52%
  • Others: 0.90%

Dematerialization: 100% shares held in dematerialized form

Corporate Governance and Compliance

Auditors:

  • Statutory Auditors: ASA & Associates LLP (appointed for second term of 5 years until 38th AGM)
  • Secretarial Auditors: J B Bhave & Co (appointed for 5 years until FY 2029-30)
  • Cost Auditor: Mr. K Suryanarayanan
  • Internal Auditors: G Balu Associates LLP

Board Meetings: 7 meetings held during FY 2025-26

Committee Composition:

  • Audit Committee: Mr. Ajay Kumar Dhagat (Chairman), Ms. Leena M Sathyanarayanan, Mr. Sharat Chandra Kolla
  • Nomination and Remuneration Committee: Ms. Leena M Sathyanarayanan (Chairperson), Mr. Ajay Kumar Dhagat, Mr. Sharat Chandra Kolla
  • Stakeholders' Relationship Committee: Mr. Sharat Chandra Kolla (Chairman), Mr. Ajay Kumar Dhagat, Mr. Manohar Purushothaman
  • CSR Committee: Mr. Sharat Chandra Kolla (Chairman), Mr. Manohar Purushothaman, Ms. Leena M Sathyanarayanan

CSR Activities

CSR Expenditure for FY 2025-26: ₹113.25 lakhs

Key Initiatives:

  • Basic infrastructure development at schools: ₹67.15 lakhs
  • HPV Vaccination: ₹31.00 lakhs
  • Siruthuli - Sundapalayam Periapallam (waste stabilization ponds): ₹15.10 lakhs

ESG Initiatives

Sustainability Achievements:

  • Achieved 100% consumption of energy through renewable mode
  • Target to shift 80-100% power requirement to Green Energy sources by next FY
  • Published ESG Report with quantified Scope 1, 2 & 3 emission reduction targets through FY 2029-30

Forward-looking Statements

Growth Strategy:

  • Focus on capacity expansion, technology, product capability, operational efficiency
  • Leverage synergies with Shirdi Sai Electricals Group
  • Target participation in transmission, distribution, renewable energy evacuation, and industrial infrastructure

Market Outlook:

  • Indian power sector expected to grow at approximately 12% CAGR
  • Strong demand from renewable energy integration, grid modernization, data centers, and industrial electrification
  • Global "China Plus One" strategy creating export opportunities

Important Dates

Book Closure: September 17, 2026 to September 23, 2026 (both days inclusive)

E-voting Period: September 20, 2026 (9:00 AM) to September 22, 2026 (5:00 PM)

Cut-off Date for E-voting: September 15, 2026

Financial Impact Assessment

The disclosed financial impacts include:

  • Dividend payout of approximately ₹10.62 Cr (subject to shareholder approval)
  • Capex plan of ₹495 Cr for capacity expansion
  • Material RPTs of ₹250 Cr with holding company
  • ESOP dilution potential of up to 1.88% of equity capital

All financial impacts are quantified in the disclosure except for potential future borrowing impacts which are subject to shareholder approval.