Purpose and Disclosure Overview

RattanIndia Power Limited has disclosed its FY 2025-26 financial results and announced its 19th Annual General Meeting scheduled for September 24, 2026, conducted via video conference. This comprehensive disclosure includes standalone and consolidated financial statements prepared in accordance with Indian Accounting Standards (Ind AS) and complies with SEBI Listing Regulations and Companies Act, 2013 requirements.

Financial Performance Highlights

For the year ended 31 March 2026, RattanIndia Power reported:

  • Revenue from operations: ₹2,991.36 crore (FY25: ₹3,283.83 crore)
  • Consolidated net profit: ₹52.44 crore (FY25: ₹215.97 crore standalone)
  • Plant Availability Factor: 87.88% with Plant Load Factor of 82.10%
  • Electricity sold: 8,935.86 MU to MSEDCL + 22.19 MU through exchange
  • Basic and diluted EPS: ₹0.09 (FY25: ₹0.40)

Financial Position and Capital Structure

Balance Sheet Position:

  • Total assets: ₹9,817.25 crore
  • Property, plant and equipment: ₹5,874.90 crore (net carrying amount)
  • Trade receivables: ₹2,757.39 crore (99.99% from MSEDCL)
  • Cash and cash equivalents: ₹10.18 crore
  • Total equity: ₹4,842.26 crore
  • Net debt: ₹3,439 crore with debt-to-equity ratio of 75.18%

Borrowings and Security:

Secured borrowings of ₹3,355.31 crore are secured by first mortgage and charge on all immovable and movable assets of the Amravati Project. Specific facilities include Facility C (₹46.59 crore), elevated intercorporate deposits (₹1,017.23 crore), and subordinate intercorporate deposits (₹1,664.57 crore).

19th Annual General Meeting Details

Meeting Logistics:

  • Date: September 24, 2026 at 3:00 PM IST
  • Format: Video Conferencing/Other Audio-Visual Means
  • Deemed venue: Registered office in New Delhi
  • Cut-off date: September 17, 2026 for shareholder eligibility

Key Resolutions:

1. Adoption of audited financial statements for FY ended March 31, 2026

2. Re-appointment of Mr. Rajiv Rattan as director retiring by rotation

3. Appointment of T R Chadha & Co. LLP as Statutory Auditors for 5 years

4. Special resolution for remuneration of ₹36 lakhs per annum to Mr. Ajay Kumar Tandon, Independent Director

5. Appointment of Mr. Dhruv Rattan Nashier as Vice President at remuneration not exceeding ₹72 lakhs per annum

Voting Process:

Remote e-voting through KFin Technologies Limited from September 21-23, 2026, with Mr. Sanjay Khandelwal appointed as Scrutinizer.

Risk Management and Contingencies

Financial Risk Exposure:

  • Credit risk: Maximum exposure of ₹3,473.74 crore with significant concentration in MSEDCL receivables
  • Liquidity risk: Undrawn borrowing facilities of ₹232 crore with ₹1,149.45 crore due within 1 year
  • Foreign currency risk: Exposure to USD (₹2.17 crore) and EURO (₹45.28 crore)
  • Interest rate risk: ₹282 crore variable rate borrowing exposure

Contingent Liabilities and Legal Matters:

  • ₹54.96 crore for invoked bank guarantees by Western Coalfields and Mahanadi Coalfields
  • Arbitration proceedings with BHEL claiming ₹115 crore for supply and services
  • Multiple petitions before MERC and APTEL for change-in-law claims compensation
  • Tax matters involving ₹50.32 crore for GST Compensation Cess on coal rejects
  • Change-in-law claims with MSEDCL: ₹876.84 crore received till date per Supreme Court order

Related Party Transactions and Corporate Governance

Material Transactions:

  • Total transactions with related enterprises: ₹12.15 crore
  • Inter-corporate deposits given to Poena Power Development Limited: ₹250 crore
  • Interest expense on related party deposits: ₹331.21 crore
  • Transactions with RR Infralands Private Limited: ₹331.21 crore

Key Management Personnel:

Multiple KMPs received remuneration including Rajiv Rattan (Executive Chairman), Himanshu Mathur (Whole Time Director), and other senior executives. The company has 545 permanent employees as of March 31, 2026.

Regulatory Compliance and Auditor Assurance

Walker Chandiok & Co LLP issued an unmodified opinion on the financial statements, identifying key audit matters around revenue recognition for change-in-law claims and litigation contingencies. The company has complied with all loan covenants and has not been declared a wilful defaulter.

Signatories and Approval

For Walker Chandiok & Co LLP:

  • Deepak Mittal, Partner (Membership No.: 503843)

For RattanIndia Power Limited:

  • Rajiv Rattan, Executive Chairman (DIN: 00010849)
  • Himanshu Mathur, Whole Time Director (DIN: 03077198)
  • Manish Ratnakar Chitnis, Chief Financial Officer
  • Lalit Narayan Mathpati, Company Secretary

Date of approval: 07 May 2026 | Place: New Delhi, Dubai, Mumbai