Adani Power FY26 Business Responsibility Sustainability Report

Date: May 29, 2026

KMP / Board / Auditor Changes

Not Specified

Dividend Declaration or Non-Declaration

Not Specified

Board Meeting Outcomes

Not Specified

Financial Results

Not Specified

Disinvestment / Strategic Actions

Not Specified

Other Operational / Legal / Strategic Disclosures

General Company Information

Corporate Identity Number: L40100GJ1996PLC030533
Year of incorporation: 1996
Financial Year: April 1, 2025 to March 31, 2026
Stock Exchanges: BSE Limited and National Stock Exchange of India Limited
Paid-up Capital: ₹3,856.94 Crore
Contact for BRSR queries: Mr. R N Shukla, Head – Environment & Forest, Telephone: (079) 2555 57022, Email: cso.power@adani.com

Business Activities

Main Activity: Power Generation by Coal Based Thermal Power Plant and Solar Power Plant
% of Turnover: 100%
Products/Services:
Electric power generation by Coal Based Thermal Power Plants*: 99.95% of turnover (NIC Code: 35102)
Electric power generation using Solar Energy: 0.05% of turnover (NIC Code: 35105)

Operations

Number of locations: 14 national (13 plants + 1 office), 0 international
Markets served: 17 Indian states, 1 international country (Bangladesh)
Export contribution: 9.35% of total power generation to Bangladesh, contributing 15.59% of total turnover
Customer type: Predominantly business-to-business (B2B) including State Government utilities and distribution companies (DISCOMS)

Employees and Workforce

Employees and workers (including differently abled) - FY 2025-26:

| Permanent | 3,967 | 3,835 | 96.67% | 132 | 3.33% |

| Other than Permanent | 1,813 | 1,793 | 98.90% | 20 | 1.10% |

| Total Employees | 5,780 | 5,628 | 97.37% | 152 | 2.63% |

| Permanent | 0 | 0 | 0% | 0 | 0% |

| Other than Permanent | 19,854 | 19,344 | 97.43% | 510 | 2.57% |

| Total Workers | 19,854 | 19,344 | 97.43% | 510 | 2.57% |

Differently abled Employees and workers:

No differently abled employees or workers across all categories

Gender Representation:

Board of Directors: 8 total, 1 female (12.5%)
Key Managerial Personnel: 4 total, 0 female (0%)

Turnover Rates (Past 3 years):

| Category | FY 2025-26 | FY 2024-25 | FY 2023-24 |

| Permanent Employees | 12.16% | 7.39% | 9.76% |

| - Male | 12.33% | 7.54% | 9.14% |

| - Female | 5.11% | 4.90% | 5.84% |

Subsidiaries and Associates

23 holding/subsidiary/associate companies/joint ventures, all participating in Business Responsibility initiatives:

1. Mahan Energen Limited (Subsidiary, 94.43% shares)

2. Adani Power Dahej Limited (Subsidiary, 100% shares)

3. Pench Thermal Energy (MP) Limited (Subsidiary, 100% shares)

4. Kutchh Power Generation Limited (Step Down, 100% shares)

5. Mahan Fuel Management Limited (Subsidiary, 100% shares)

6. Adani Power Resources Limited (Subsidiary, 51% shares)

7. Alcedo Infra Park Limited (Subsidiary, 100% shares)

8. Chandenvalle Infra Park Limited (Subsidiary, 100% shares)

9. Emberiza Infra Park Limited (Subsidiary, 100% shares)

10. Resurgent Fuel Management Limited (Subsidiary, 100% shares)

11. Moxie Power Generation Limited (Subsidiary, 49% shares)

12. Mirzapur Thermal Energy (UP) Private Limited (Subsidiary, 100% shares)

13. Anuppur Thermal Energy (MP) Private Limited (Subsidiary, 100% shares)

14. Korba Power Limited (Subsidiary, 100% shares)

15. Orissa Thermal Energy Private Limited (Subsidiary, 100% shares)

16. Adani Power Global Pte. Limited (Subsidiary, 100% shares)

17. Adani Power Middle East Ltd (Subsidiary, 100% shares)

18. Vidarbha Industries Power Limited (Subsidiary, 100% shares)

19. Wangchhu Hydoelectric Power Limited (Joint Venture, 49% shares)

20. Adani Atomic Energy Limited (Subsidiary, 100% shares)

CSR Details

CSR applicable: Yes
Turnover: ₹57,865.28 Crore
Net worth: ₹66,401.92 Crore

Grievance Redressal

FY 2025-26 Complaints:

Communities: 0 filed, 0 pending
Investors (other than shareholders): 0 filed, 0 pending
Shareholders: 4 filed, 0 pending (all resolved)
Employees and workers: 0 filed, 0 pending
Customers: 0 filed, 0 pending
Value Chain Partners: 0 filed, 0 pending
Other: 0 filed, 0 pending

FY 2024-25 Complaints:

Shareholders: 12 filed, 0 pending (all resolved)
Employees and workers: 1 filed, 0 pending (resolved)

Material Responsible Business Conduct Issues

17 material issues identified with risk/opportunity assessment:

Environmental Issues:

1. Air Emissions (Risk) - Negative financial implications

2. Waste Management (Risk and Opportunity) - Positive & Negative implications

3. Lifecycle Management of Assets (Risk) - Negative implications

4. Water Management (Risk) - Negative implications

5. Biodiversity and Natural Resource Management (Risk) - Negative implications

6. Resource Efficiency and Management (Risk & Opportunity) - Positive & Negative implications

Social Issues:

7. Occupational Health and Safety (Risk) - Negative implications

8. Labour Practices (Risk) - Negative implications

9. Community Engagement (Opportunity) - Positive implications

10. Diversity, Equity, and Inclusion (DEI) (Opportunity) - Positive implications

11. Employee Development and Talent Retention (Opportunity) - Positive implications

Governance and Innovation:

12. Business Ethics and Integrity (Risk) - Negative implications

13. Innovation and R&D (Opportunity) - Positive implications

Management and Process Disclosures

All 9 NGRBC Principles covered by policies approved by Board
Policies translated into procedures and extended to value chain partners
Multiple international certifications implemented: ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, ISO 50001:2024, ISO 55001:2014, ISO 27031:2025, ISO 27001:2022, ISO 22301:2019, ISO 26000:2010, SA 8000
Specific commitments and goals set with defined timelines
Corporate Responsibility Committee oversees implementation (Chairperson: Mr. Shailesh Haribhakti)
Quarterly review of performance against policies and compliance
Independent assessment by TUV India Pvt. Ltd.

Principle-wise Performance Details

Principle 1 - Ethical, Transparent and Accountable:

Training coverage: Board of Directors 100%, Employees 100%, Workers 64%
Fines/penalties: ₹1,15,000 plus applicable GST to each stock exchange for delayed appointment of Independent Director
Anti-corruption policy in place
No disciplinary actions against Directors/KMPs/employees/workers
Accounts payable days: 33.15 days (FY 2025-26), 37.96 days (FY 2024-25)
Related party transactions: Purchases 6.04%, Sales 26.83%, Loans & advances 5.92%, Investments 0%

Principle 2 - Sustainable and Safe:

R&D investment: ₹2.2 Cr (FY 2025-26), ₹1.9 Cr (FY 2024-25)
Capex investment: ₹165 Cr (FY 2025-26), ₹56.73 Cr (FY 2024-25)
100% sustainable sourcing through Supplier Code of Conduct
Comprehensive waste management processes in place
EPR not applicable

Principle 3 - Employee Well-being:

100% health and accident insurance coverage for employees
Retirement benefits: PF 100%, Gratuity 100%, ESI 100% for eligible categories
Premises accessible to differently abled as per Rights of Persons with Disabilities Act, 2016
Equal opportunity policy in place
Return to work rate: 100%, Retention rate: 89.15%
Grievance mechanisms available for all employee categories
Safety management system implemented across all operations
Safety incidents: 0 employee injuries, 3 worker injuries, 1 worker fatality
Spending on well-being measures: 1.23% of total revenue

Principle 4 - Stakeholder Responsiveness:

Structured process for identifying key stakeholder groups
Regular engagement with employees, shareholders, customers, suppliers, government, community, media, peers, academia
Consultation processes in place for Board engagement on ESG topics

Principle 5 - Human Rights:

18.82% employees received human rights training
Minimum wages paid to 100% of employees and workers
Median remuneration: KMP ₹3.46 Cr, Other employees ₹0.128 Cr (male), ₹0.065 Cr (female)
Gross wages to females: 1.52% of total wages
Focal point established for human rights issues
No complaints on sexual harassment, discrimination, child labor, forced labor, wages
100% assessment coverage for human rights practices

Principle 6 - Environmental Protection:

Energy Consumption (FY 2025-26):

Renewable sources: 523.85 GJ
Non-renewable sources: 10,081,150,017.34 GJ
Total energy: 10,081,155,541.19 GJ
Energy intensity: 0.001742177 GJ/₹, 0.03543588 GJ/PPP revenue, 9.61 GJ/MWh

Water Management (FY 2025-26):

Surface water: 160,159,878 kL
Groundwater: 0 kL
Third party water: 600 kL
Seawater/desalinated: 805,375,142 kL
Total withdrawal: 965,535,619 kL
Total consumption: 223,403,914 kL
Water intensity: 0.0003861 KL/₹, 0.0078528 KL/PPP revenue, 2.13 KL/MWh
Water discharged: 731,897,439.6 kL (primarily to seawater with treatment)
Zero Liquid Discharge implemented at hinterland plants

Air Emissions (FY 2025-26):

NOx: 120,189.5 MT/year
SOx: 275,141.3 MT/year
Particulate matter: 17,211.85 MT/year
Mercury: Below Detectable Limit

GHG Emissions (FY 2025-26):

Scope 1: 90,065,058.43 tCO2e
Scope 2: 52,939.84 tCO2e
Emission intensity: 0.000155738 tCO2e/₹, 0.0031677 tCO2e/PPP revenue, 0.86 tCO2e/MWh
Scope 3: 25,285,203 tCO2e (Category 1,2,3,5,6,7)

Waste Management (FY 2025-26):

Plastic waste: 114.27 MT
E-waste: 59.21 MT
Bio-medical waste: 0.13 MT
Construction waste: 0.66 MT
Battery waste: 62.03 MT
Hazardous waste: 267.23 MT
Non-hazardous waste: 16,791,319.51 MT (including 16,785,671.53 MT ash)
Total waste: 16,791,823.04 MT
Waste recovered: 18,887,337.35 MT (recycled/reused)
Waste disposed: 24.58 MT (incineration)
Waste intensity: 0.000029 MT/₹, 0.000590 MT/PPP revenue, 0.1600 kg/MWh

Environmental Compliance:

PAT Scheme targets achieved
One non-compliance case with NGT regarding Udupi TPP environmental norms
₹26 crores deposited with Supreme Court Registry pending final order
Environmental Impact Assessments conducted for new projects

Principle 7 - Responsible Policy Influence:

Affiliations with 11 trade/industry associations
No corrective actions needed on anti-competitive conduct

Principle 8 - Inclusive Growth:

Social Impact Assessments conducted for projects
No ongoing Rehabilitation and Resettlement projects
18.8% inputs sourced from MSMEs/small producers
18.3% inputs sourced from within district and neighboring districts
Rural employment: 29.34% of wage cost
CSR spending in aspirational districts: ₹3.37 Cr in Baran, ₹9.58 Cr in Godda, ₹6.05 Cr in Singrauli
1,819,615 beneficiaries of CSR projects, 23.68% from marginalized groups

Principle 9 - Responsible Consumer Engagement:

Mechanisms in place for consumer complaints and feedback
No consumer complaints received across all categories
Cyber security and data privacy policy in place
No data breaches occurred

Independent Assurance Statement

Assurance provider: TUV India Pvt. Ltd.
Assurance type: Reasonable Assurance of Core Indicators & non-core Indicators
Reporting period: April 1, 2025 to March 31, 2026
Standards: ISAE 3000 Revised
Scope: BRSR Core attributes and selected non-Core disclosures across all nine principles
Conclusion: BRSR Core disclosures and selected non-Core disclosures prepared in all material respects in accordance with applicable SEBI BRSR reporting criteria