RattanIndia Power Limited

Compliance Update. RattanIndia Power Ltd has filed its compliance certificate as required under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended September 30, 2026. The certificate serves as formal confirmation from the company's Registrar and Transfer Agent (RTA), KFin Technologies Limited, that all necessary details regarding securities dematerialization and rematerialization during the quarter were processed and submitted to the depositories, NSDL and CDSL, in accordance with regulatory requirements.

Key Highlights

Arbitration Award Details

In a disclosure filed on October 03, 2026, RattanIndia Power Ltd informed exchanges that the Arbitral Tribunal has delivered its award concerning the dispute with Bharat Heavy Electricals Limited (BHEL) regarding the Amravati Phase-II Project.

Management stated that while most of BHEL's claims were rejected and the company's own claims were allowed, the tribunal ultimately awarded a net sum to BHEL.

Financial Implications

The company faces a net financial liability of Rs 170.78 crore (Rs 1,70,78,29,532). Additionally, the award includes interest payable on a partial amount. This liability is a significant development and directly impacts the company's financial position until resolved or overturned.

Legal and Regulatory Next Steps

RattanIndia Power Ltd is currently evaluating the award in detail. The company indicated that it has several legal remedies available, including:

• Challenging the award before the competent High Court.
• Pursuing further appellate remedies before the Supreme Court, if necessary.

Concerns and Watch Points

• Financial Liability: The immediate impact is a payout obligation of over Rs 170 crore, plus interest, which may affect liquidity and cash flow.
• Legal Uncertainty: The ultimate financial impact remains dependent on the outcome of the company's potential legal challenges. Investors should monitor any future filings regarding the initiation of legal proceedings and court stays or developments.
• Contingency: Until the legal challenge is finalized, the full financial exposure related to the 'interest on partial amount' remains unquantified.

Investor Takeaway

This announcement is a material development regarding a major legal dispute. The company’s intent to contest the arbitral award suggests the matter is not yet resolved. Existing shareholders should monitor for updates on legal filings, as any finalization of this liability would represent a non-trivial cash outflow.

Trading Window Closure

RattanIndia Power Ltd has officially notified the stock exchanges regarding the closure of its trading window for designated persons and their immediate relatives. This action is in accordance with the company's Code of Conduct for Regulating, Monitoring, and Reporting Trading, as mandated by SEBI (Prohibition of Insider Trading) Regulations.

Details

• Closure Date: The trading window is set to close on October 01, 2026.
• Duration: The window will remain closed until 48 hours after the company declares its un-audited financial results for the quarter and half-year ending September 30, 2026.
• Next Steps: The specific date for the board meeting to approve the financial results has not yet been set and will be intimated to the exchanges in due course.

Investor Takeaway

This announcement is a routine compliance procedure regarding internal trading protocols. It does not provide insights into the company's actual financial performance or operational status. Shareholders should monitor the upcoming announcement of the board meeting date for the declaration of quarterly and half-year results.

Publication Details. RattanIndia Power Limited has issued a newspaper notice regarding its 19th Annual General Meeting (AGM), book closure, and e-voting arrangements. This publication is part of the company's compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. ## Shareholder Instructions. Shareholders are advised to review the full Notice of the AGM, which is available on the company's website at www.rattanindiapower.com. The notice contains detailed instructions regarding the process for remote e-voting, procedures for participating in the Annual General Meeting, and important dates related to the closure of the register of members and share transfer books. Shareholders should consult these documents to ensure compliance with voting deadlines and eligibility requirements for the meeting.

Key Highlights

RattanIndia Power Ltd has scheduled its 19th Annual General Meeting (AGM) for September 24, 2026, to be conducted via Video Conferencing (VC) or Other Audio-Visual Means (OAVM). Shareholders will vote on the adoption of audited financial statements, re-appointment of Mr. Rajiv Rattan as a director, appointment of T R Chadha & Co. LLP as statutory auditors, and remuneration approvals for specific directors and new executive appointments. The record date for remote e-voting has been fixed for September 17, 2026.

Financial Snapshot (Consolidated)

The consolidated results indicate a decline in both revenue from operations and net profit compared to the previous financial year. The company reported a consolidated net profit of Rs 52.44 crore for the year, down from Rs 221.92 crore in the prior year.

Business and Operational Performance

The company operates the 1,350 MW Amravati Thermal Power Project, which maintained an annual Plant Load Factor (PLF) of 82.10% and a Plant Availability Factor (PAF) of 87.88% in FY 2025-26. The plant continues to supply power under a 25-year long-term Power Purchase Agreement (PPA) with Maharashtra State Electricity Distribution Company Limited (MSEDCL). Additionally, the company generated Rs 16.38 crore in revenue by selling 22.19 million units of surplus power on the Indian Energy Exchange.

The company reported meaningful progress on its long-pending 'Change in Law' claims against MSEDCL, having received Rs 876.84 crore to date under directions from the Maharashtra Electricity Regulatory Commission (MERC) and the Appellate Tribunal for Electricity (APTEL).

Corporate Action Details

Shareholders will vote on the following resolutions:

• Re-appointment: Mr. Rajiv Rattan is proposed for re-appointment as a director, liable to retire by rotation.
• Auditor Appointment: Appointment of T R Chadha & Co. LLP as Statutory Auditors for a five-year term (from the conclusion of the 19th AGM to the 24th AGM).
• Director Remuneration: Approval for payment of remuneration to Mr. Ajay Kumar Tandon (Independent Director), noting that it may exceed 50% of the total remuneration payable to all non-executive directors.
• Executive Appointment: Appointment of Mr. Dhruv Rattan Nashier as Vice President, effective October 1, 2026, at a remuneration not exceeding Rs 0.72 crore (Rs 72 lakh) per annum.

Management Commentary and Outlook

Management remains focused on maintaining high operational performance and operational excellence. The company expects the Amravati plant to remain competitive within the merit order dispatch system. While the power sector faces a more moderate demand environment, the company believes coal-based thermal power remains indispensable for grid stability and anticipates continued demand in the coming years.

What This Means for Investors

Shareholders should monitor the progress of pending regulatory 'Change in Law' claims and the company’s ability to manage its debt and repayment obligations. As the company did not recommend dividends for FY 2025-26 due to the non-availability of distributable profits, shareholders should assess the long-term potential for profitability improvements in upcoming quarters.

Key Highlights

Corporate Action Details

RattanIndia Power Limited has finalized the administrative schedule for its 19th Annual General Meeting. Shareholders should note the following:

• AGM Conduct: The meeting will be held virtually via Video Conferencing/Other Audio-Visual Means (VC/OAVM).
• Book Closure: The company's Register of Members and Share Transfer Books will be closed for the purpose of the AGM. During this period, no transfer of shares will be registered.
• Voting Arrangements: The company has provided a remote e-voting facility for shareholders. Only those shareholders holding shares as of the cut-off date, September 17, 2026, are eligible to cast their votes. Those attending the AGM via VC/OAVM who have not already voted through the remote e-voting system will be provided an opportunity to vote during the meeting.

What This Means for Investors

This filing is a routine corporate procedure. Shareholders should ensure they hold shares by the relevant cut-off date if they intend to participate in the voting process for the AGM. Documentation, including the notice of the AGM and the annual report for the financial year 2025-26, will be distributed to shareholders in due course and made available on the company's official website.

Key Highlights

Financial Snapshot

Operational Performance

The company demonstrated improved operational efficiency in fiscal 2026, with the Plant Load Factor (PLF) increasing to 82% from 78% in the previous year. This improvement was supported by increased demand from Maharashtra State Electricity Distribution Company Ltd (MSEDCL). The plant continues to benefit from a long-term Power Purchase Agreement (PPA) extending until 2040, which helps in managing offtake risks.

Financial and Debt Position

The credit rating upgrade reflects the company's efforts to manage its debt structure. As of March 31, 2026, the company reported a cash balance of ₹276 crore. A portion of this liquidity, specifically ₹197 crore, is currently earmarked for a dispute with BHEL. The company also maintains fund-based working capital facilities of ₹400 crore. Management has noted that inter-corporate deposits from promoters have been subordinated to secured debt, which has been factored into the rating rationale.

Litigation and Risk Factors

Investors should be aware of several monitorable items:

• BHEL Arbitration: The company has appealed the Arbitral Tribunal's decision regarding a dispute with BHEL. While no immediate cash outflow is expected, this remains a key area to track.
• REC Ltd Petition: While the NCLT dismissed a petition filed by REC Ltd in September 2025, the potential for appeals in higher courts remains a watch point.
• Upcoming Obligations: The company has 0.001% optionally convertible cumulative redeemable preference shares (OCCRPS) due for repayment or conversion in December 2026.

Investor Takeaway

The upgrade to 'CRISIL A2' provides a positive signal regarding the company's credit standing and operational reliability. The improvement in PLF is a key positive, reflecting operational strength. However, the decline in net profit and PAT margins, coupled with lingering litigation and upcoming repayment obligations, necessitates a balanced view. Investors should focus on the company's ability to navigate these legal challenges and maintain the current operating performance levels.

Key Highlights

The company has confirmed the release of the Non Disposal Undertaking (NDU) on its promoter shares. This action removes previous restrictions on a large portion of the promoter's holding, which served as security for a working capital facility.

Corporate Action Details

The company notified the exchanges that 2,09,75,98,310 equity shares, which were placed under a Non Disposal Undertaking (NDU), have been released. These shares acted as security for a ₹550 crore working capital facility provided by Kotak Mahindra Bank Limited, with Vistra ITCL (India) Limited acting as the Security Trustee.

Following this release, the entire promoter shareholding in the company, consisting of 2,36,61,03,603 equity shares (44.06% of total equity share capital), is now free from all encumbrances. This disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

What Looks Positive

• Governance Improvement: The transition of the entire promoter shareholding to an unencumbered state is a clear positive governance signal. It removes concerns regarding potential forced selling or pledging-related risks associated with the previously secured facility.
• Transparency: The formal announcement confirms the complete release of security on these shares, providing clarity to stakeholders regarding the current status of promoter holdings.

Investor Takeaway

For investors, the key takeaway is the cleanup of promoter share encumbrances. The release of the NDU on the majority of promoter shares effectively removes the pledging risk that was tied to the ₹550 crore working capital facility. With the total promoter shareholding now free of restrictions, the corporate structure appears cleaner from a governance perspective. This development is generally viewed as favorable, as it alleviates concerns related to promoter pledging.

Key Highlights

Financial Snapshot

Operational Excellence

The Amravati plant demonstrated high efficiency during the quarter. The company maintained a Plant Load Factor (PLF) of 92.43% and a Plant Availability Factor (PAF) of 98.15%. Additionally, the plant received and unloaded 449 coal rakes, averaging 4.9 rakes daily. This high operational reliability is a key focus area for management.

Regulatory and Legal Update

The company is actively involved in legal proceedings regarding 'Change in Law' claims. The Appellate Tribunal for Electricity (APTEL) previously ruled in favor of the company regarding Ash Transportation, Sizing Charges, and Surface Transportation Charges. During this quarter, the company received ₹44.73 crore from MSEDCL specifically related to Ash Transportation claims.

Concerns and Watch Points

What This Means for Investors

The results highlight a successful return to profitability for RattanIndia Power. The operational stability of the Amravati plant and the partial recovery of regulatory dues are positive developments. However, investors should remain cautious regarding the ultimate outcome of the 'Change in Law' claims, which are currently being challenged by MSEDCL in the Supreme Court.

Investor Takeaway

RattanIndia Power has shown financial improvement by shifting from a loss-making position to a profitable one in Q1 FY27. Key strengths include high plant utilization metrics and the successful recovery of a portion of regulatory receivables. The outlook remains dependent on the resolution of pending legal matters in the Supreme Court. Investors should track updates on this litigation as it could materially impact the final settlement of regulatory receivables.

Key Highlights

Financial Snapshot

Profitability Analysis

The company reported a consolidated profit of ₹45.85 crore for the quarter ended June 30, 2026, a notable shift from the loss of ₹13.11 crore recorded in the same quarter last year. On a sequential basis, the company also showed improved performance compared to the profit of ₹42.84 crore in the quarter ended March 31, 2026.

Risks and Watch Points

Investors should monitor several ongoing legal and financial matters:

• Redeemable Preference Shares (RPS): RPS aggregating to ₹250 crore due for redemption in December 2021 remains unpaid due to statutory restrictions. Litigation regarding this is ongoing.
• BHEL Arbitration: There is a long-standing dispute regarding supply contracts where an interim award of ₹115 crore exists against the company. The company is actively appealing this.
• Bank Guarantees: Bank guarantees worth ₹54.96 crore, invoked by WCL and MCL, remain subject to ongoing litigation. The company maintains a strong case.
• Auditor Emphasis: Statutory auditors have included an 'Emphasis of Matter' in their report specifically regarding the RPS redemption limitations and ongoing legal challenges.

What Looks Positive

The company has demonstrated operational resilience, evidenced by the return to profit. Additionally, management highlighted the receipt of ₹876.84 crore to date from MSEDCL regarding 'Change in Law' claims, which provides some relief in terms of cash flow and regulatory validation.

Management Commentary

Management has expressed confidence in its legal position across the various ongoing disputes, including the BHEL arbitration, the bank guarantee invocation, and the NCLAT appeals regarding the RPS holder dispute. They do not expect additional material liabilities beyond those already recorded.

What This Means for Investors

The company's move to profitability is a clear improvement over the previous year. However, the business model currently faces significant legacy legal challenges that remain unresolved. The ongoing litigation, particularly involving substantial financial amounts like the RPS liability and the arbitration award, creates a complex risk profile. Investors should continue to monitor updates on these legal proceedings as they hold the potential to impact future cash positions and balance sheet stability.

Investor Takeaway

RattanIndia Power Limited has achieved a profit turnaround in Q1 FY27, backed by stable operational revenue. While this fundamental improvement is encouraging, the company remains weighed down by high-stakes litigation and unresolved legacy liabilities. The 'Emphasis of Matter' by auditors regarding the RPS redemption serves as a critical watch point. Future performance will likely depend not just on operational efficiency in its power generation business, but also on the successful navigation of these legal and regulatory hurdles. Investors should prioritize tracking the outcome of these ongoing court cases.

Board Meeting Details

RattanIndia Power Limited has informed the stock exchanges that a meeting of its Board of Directors is scheduled for Friday, July 24, 2026. The purpose of this meeting is to consider and approve the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026.

Trading Window Compliance

The company has confirmed that the trading window for dealing in its securities, which was closed earlier, will continue to remain closed. In compliance with the SEBI (Prohibition of Insider Trading) Regulations, 2015, the trading window will reopen 48 hours after the financial results are disseminated to the stock exchanges.

What This Means for Investors

This filing is a standard regulatory update issued ahead of the quarterly earnings announcement. Investors should look forward to the release of the financial results on or shortly after July 24, 2026, which will provide details on the company's performance for the first quarter of the fiscal year 2027. The trading window closure is a standard compliance procedure intended to prevent insider trading during the sensitive period leading up to the public disclosure of financial results.

Filing Details

Investor Relevance

This is a standard regulatory submission. Under SEBI regulations, listed companies are required to submit a certificate from their Registrar and Share Transfer Agent (RTA) at the end of every quarter. The purpose is to certify that the RTA has successfully processed dematerialization (converting physical shares to electronic format) and rematerialization (converting electronic shares to physical format) requests within the specified timelines and has duly informed the stock exchanges of these changes.

Investor Takeaway

This filing is a routine operational procedure and does not contain any material financial, strategic, or business information. Shareholders should treat this as a standard corporate compliance update.

Summary

• Four trusts have submitted annual compliance certificates to RattanIndia Power Limited.
• These certificates confirm their compliance with SEBI regulations for the financial year 2025-26.
• This pertains to their indirect acquisition of voting rights in the company, as per SEBI exemption orders.

Key Numbers & Dates

• SEBI Order Date: September 12, 2025
• SEBI Circular Date: December 22, 2017
• Auditor's Certificate Date: April 17, 2026
• Trusts' Filings to Exchanges: April 27, 2026
• RattanIndia Power's Filing to Exchanges: May 04, 2026

What Changes for the Business

• This filing confirms ongoing regulatory compliance by entities holding voting rights in RattanIndia Power Limited.
• It does not indicate any immediate changes to the company's operational structure or business strategy.

📊 Performance Summary

• Reporting Period(s): Quarter and Year ended March 31, 2026 (Upcoming Approval)

✅ What Looks Positive

• No clear positives visible in provided data as financial results have not yet been released.

⚠️ Risk Alerts & Concerns

• No financial data was included in this announcement to perform a risk assessment.

🧠 Investor Takeaway

This announcement is a procedural notice informing shareholders and the market that the financial results for the fiscal year ended March 31, 2026, are set to be finalized on May 07, 2026. There are no performance numbers available in the current disclosure.

Summary

• RattanIndia Power has informed the National Stock Exchange of India and BSE about its compliance with SEBI (Depositories and Participants) Regulations, 2018.
• This filing pertains to the quarter ended March 31, 2026.

Key Numbers & Dates

• Quarter End Date: March 31, 2026
• RTA Certificate Date: April 02, 2026
• Filing Date: April 16, 2026

What Changes for the Business

• No direct impact or change to business operations is indicated by this filing.

⚠️ What Could Go Wrong

• No risks or potential issues are mentioned in the provided text.

What to Track Next

• No specific next steps or future actions are detailed in the report.

Summary

• RR Infralands Private Limited, a promoter of RattanIndia Power, has disclosed selling 1,02,00,000 equity shares.
• This transaction reduced the promoter's holding slightly from 24.248% to 24.058%.

Key Numbers & Dates

• Shares Sold: 1,02,00,000 equity shares by RR Infralands Private Limited.
• Promoter Holding: Decreased from 24.248% to 24.058% post-sale.
• Sale Date: March 24, 2026.
• Disclosure Date (RR Infralands): March 26, 2026.
• Filing Date (RattanIndia Power): March 27, 2026.
• Transaction Mode: On market sale.

What Changes for the Business

• The promoter's stake in RattanIndia Power has been marginally reduced.
• The specific monetary value of the transaction was not disclosed.

⚠️ What Could Go Wrong

• No risks were explicitly mentioned in the provided text.

Summary

• RattanIndia Enterprises Limited, a promoter of RattanIndia Power Limited, has increased its shareholding.
• The promoter entity acquired 1.02 crore equity shares through an on-market purchase.

Key Numbers & Dates

• Shares Acquired: 1,02,00,000 Equity Shares
• Transaction Value: ₹8,32,01,380 (₹8.32 cr)
• Transaction Date: March 24, 2026
• Previous Promoter Holding: 19.813%
• Post Promoter Holding: 20.003%
• Disclosure Date (Company Filing): March 27, 2026

What Changes for the Business

• The promoter's stake in RattanIndia Power Limited has increased slightly, moving from 19.81% to 20.00%.

What to Track Next

• Monitor any further changes in promoter holding or strategic announcements from the company.

RattanIndia Power Limited has released its earnings update for the quarter and nine months ended December 31, 2025 (Q3 FY26), reporting mixed financial performance characterized by strong quarter-on-quarter operational improvements but a year-on-year decline in nine-month results.

The company's financial performance for Q3 FY26 showed significant sequential growth. EBITDA increased by 60% to ₹226 Cr from ₹141 Cr in Q2 FY26. Total income saw an 11% quarter-on-quarter rise, reaching ₹836 Cr from ₹753 Cr in Q2 FY26. Profit before tax turned positive, registering ₹52.76 Cr in Q3 FY26, a substantial improvement from a loss of ₹33.02 Cr in Q2 FY26. Similarly, the profit for the period was ₹52.76 Cr compared to a loss in the previous quarter.

On a year-on-year basis for the quarter ended December 31, 2025, RattanIndia Power reported total income of ₹835.90 Cr, a marginal increase of 0.3% from ₹833.49 Cr in Q3 FY25. Profit before tax surged by approximately 1741% YoY to ₹52.76 Cr from ₹2.86 Cr in Q3 FY25, with profit for the period mirroring this increase. However, for the nine months ended December 31, 2025, total income declined by 4.6% YoY to ₹2,518.60 Cr from ₹2,639.64 Cr in the corresponding period of FY25. Profit before tax and profit for the period saw a substantial decrease, falling to ₹5.14 Cr from ₹91.54 Cr in the prior year.

Operationally, the Amravati plant maintained steady performance, achieving a Plant Load Factor (PLF) of 79.44% and Plant Availability Factor (PAF) of 85.67% up to Q3 FY26. The company also sold 14.93 million units (MUs) on the power exchange generating ₹11.51 crore in revenue during FY26 till Q3, in addition to its PPA revenues.

In terms of regulatory developments, the Appellate Tribunal for Electricity (APTEL) had, on May 8, 2025, ruled in favour of RattanIndia Power (RPL) concerning 'Change in Law' claims related to ash utilization, surface transportation, and sizing charges levied by SECL. Subsequently, the company filed a remand petition in MERC on July 10, 2025. However, MSEDCL has challenged the APTEL order by filing a Civil Appeal in the Supreme Court on August 4, 2025, with the matter currently pending adjudication. RattanIndia Power continues to actively pursue recovery of regulatory receivables.

The broader Indian power sector outlook indicates robust generation growth, with thermal coal-based plants expected to remain the backbone of electricity supply. All-India generation recorded highest ever in FY25, and while renewable energy sources are growing, thermal capacity is crucial for meeting base load demand. Projections suggest continued increase in peak electricity demand.

RattanIndia Power Limited has submitted its un-audited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, to the stock exchanges (BSE and NSE), with the submission date indicated as January 30, 2026. The company states that the Board of Directors approved these results at a meeting held on January 30, 2025. This date discrepancy for the board meeting versus the financial period end needs clarification. Accompanying the results is the limited review report from statutory auditors M/s Walker Chandiok & Co. LLP. This announcement serves as a notification of the results submission but does not disclose specific financial metrics such as revenue, profitability (EBITDA, PAT), margins, or earnings per share (EPS). Consequently, a detailed performance analysis, comparison with prior periods, or assessment of management guidance is not possible from this filing alone. Investors await the detailed financial disclosure.

RattanIndia Power Limited has issued an intimation regarding a Board Meeting scheduled for Friday, January 30, 2026. The primary agenda for this meeting is to consider and approve the unaudited financial results, on a standalone and consolidated basis, for the quarter and the nine-month period that concluded on December 31, 2025. In line with SEBI regulations and the company's code of conduct, the trading window for dealing in the securities of RattanIndia Power Limited, which was previously closed, will remain shut until 48 hours after the dissemination of these financial results to the stock exchanges. This announcement serves as a notification to stakeholders regarding the upcoming financial reporting event.

Pradeep Metals Limited has submitted a certificate from its Registrar and Share Transfer Agent, MUFG Intime India Private Limited, confirming compliance with Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. This filing pertains to the quarter ended December 31, 2025.

The certificate confirms that securities received from depository participants for dematerialisation during the quarter were processed and confirmed with the depositories. It also states that the securities are listed on the stock exchanges where they were previously listed, and that the physical share certificates received were mutilated and cancelled after due verification. This ensures that the names of the depositories are substituted in the company's register of members as the registered owner within the prescribed timelines.

This is a routine regulatory compliance filing and does not provide any new financial results, operational performance metrics, management guidance, or strategic updates. It signifies the company's adherence to standard depository and share transfer regulations.

RattanIndia Power Limited has officially announced the closure of its trading window for all designated persons and their immediate relatives. This closure is in compliance with Regulation 9 of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015. The trading window will be closed from January 1, 2026, and will reopen 48 hours after the declaration of the company's unaudited financial results for the quarter ending December 31, 2025. The specific date for the board meeting to consider and approve these financial results is yet to be intimated. This is a routine procedural step to prevent insider trading activities around financial result announcements.

• Q2 FY26 Performance: RattanIndia Power reported a consolidated net loss of ₹31.55 Cr for the quarter ended September 30, 2025, a deterioration from a loss of ₹1.35 Cr in the same quarter last year. Consolidated revenue from operations decreased by 4.2% YoY to ₹653.72 Cr. For the half-year ended September 30, 2025 (H1 FY26), the company posted a net loss of ₹44.66 Cr, compared to a profit of ₹91.65 Cr in H1 FY25. Revenue for H1 FY26 declined by 8.6% to ₹1,475.68 Cr.

• Financial & Operational Highlights: The company reported EBITDA of ₹337 Cr for H1 FY26, with an EBITDA margin of approximately 20.03%. Operational efficiency remained a strong point, with Plant Load Factor (PLF) at 79% and plant availability at 85% during H1 FY26. Standalone results also indicated a net loss for the quarter.

• Credit Rating Upgrade: A significant positive development was the upgrade of RattanIndia Power's bank loan facility rating to 'Crisil A3+' by Crisil Ratings Limited, announced on October 10, 2025. The total bank loan facility was also enhanced to ₹550 Crore from ₹250 Crore.

• Shareholding and Promoter Group: Effective November 21, 2025, four family trusts of Rajiv Rattan and Anjali Nashier joined the Promoter Group of the company via indirect acquisitions under a SEBI exemption order.

• Legal & Regulatory Updates: The company received a crucial legal relief earlier as the NCLT dismissed REC Limited's petition, ruling Redeemable Preference Shares (RPS) not as "financial debt." However, ongoing legal matters persist, including arbitration with BHEL, a bank guarantee dispute with coal suppliers, and a Supreme Court case against MSEDCL concerning APTEL orders on change-in-law claims. Vistra ITCL (India) Limited also disclosed the release of its encumbrance over 26% of RattanIndia Power shares on August 5, 2025.

• AGM and Governance: The 18th Annual General Meeting (AGM) was held on September 26, 2025, where shareholders approved financial statements and key appointments, including M/s. S. Khandelwal & Co. as Secretarial Auditors for a five-year term.

• Outlook: Management guidance is not explicitly provided, but the operational performance and credit rating upgrade suggest resilience despite financial losses and ongoing legal challenges.

RattanIndia Power Limited has officially announced a significant change in its Promoter Group composition. Effective November 21, 2025, four family trusts – Rajiv Rattan Family Trust, Rajiv Rattan Family Trust 2, Anjali Nashier Family Trust, and Anjali Nashier Family Trust 2 – have become members of the Promoter Group. This change is in compliance with Regulation 7(1)(b) of SEBI's Prohibition of Insider Trading Regulations, 2015, and follows an indirect acquisition of shares, voting rights, and control via underlying entities, namely Nettle Constructions Private Limited and Arbutus Consultancy LLP. The acquisition was facilitated by SEBI Exemption Order No. WTM/KCV/CFD/04/2025-26, dated September 12, 2025, issued under the Takeovers Regulations. The company requested the exchanges to note this information for shareholding pattern disclosures.

This structural update comes in the wake of RattanIndia Power's recently announced financial results for the quarter and half-year ended September 30, 2025 (Q2 FY26). For Q2 FY26, the company reported a consolidated revenue of ₹653.72 Cr, a 4.2% decrease year-on-year, and a net loss of ₹31.55 Cr, a marked deterioration from the ₹1.35 Cr loss in the prior year's corresponding quarter. For the first half of FY26 (H1 FY26), consolidated revenue fell by 8.6% to ₹1,475.68 Cr, with a net loss of ₹44.66 Cr compared to a profit of ₹91.65 Cr in H1 FY25. Despite these financial challenges, the company has seen positive developments in its debt profile, having received an upgrade in its credit rating to 'Crisil A3+' for its total bank loan facility, now sized at ₹550 Crore. Management commentary from earlier periods indicated ongoing legal proceedings, including arbitration with BHEL and disputes with coal suppliers, though optimism about favorable outcomes was expressed. No specific guidance or outlook was provided in this promoter group disclosure.

RattanIndia Power Limited announced its financial results for the quarter and half-year ended September 30, 2025 (Q2 FY26). The company reported a consolidated revenue of ₹653.72 Cr for Q2 FY26, marking a 4.2% year-over-year decrease. The net loss widened significantly to ₹31.55 Cr, a deterioration from the ₹1.35 Cr loss recorded in Q2 FY25. For the first half of FY26 (H1 FY26), consolidated revenue stood at ₹1,475.68 Cr, down 8.6% YoY, with a net loss of ₹44.66 Cr compared to a profit of ₹91.65 Cr in the corresponding period last year. Despite the financial setbacks, the company maintained operational efficiency, achieving a 79% PLF and 85% availability in H1 FY26.

In positive developments, RattanIndia Power received a significant boost with a credit rating upgrade from Crisil Ratings Limited on October 10, 2025. The company's total bank loan facility, enhanced to ₹550 Crore, was upgraded to 'Crisil A3+', indicating improved financial standing. Furthermore, the Hon'ble National Company Law Tribunal (NCLT) dismissed a petition filed by REC Limited, ruling that Redeemable Preference Shares do not qualify as 'financial debt,' thereby preventing insolvency proceedings.

However, the company continues to face legal challenges, including ongoing arbitration with BHEL, a bank guarantee dispute with coal suppliers, and legal proceedings with MSEDCL in the Supreme Court. The statutory auditors also issued a qualified opinion on the financial statements for the year ended March 31, 2025, highlighting potential concerns. The company's balance sheet reflects significant borrowings and negative reserves.

RattanIndia Power Limited (RPL) announced its unaudited standalone financial results for the quarter and half-year ended September 30, 2025 (Q2 FY26 and H1 FY26).

Quarterly & Half-Yearly Performance:
For Q2 FY26, the company reported revenue from operations of Rs. 653.72 Cr, a decrease of 4.21% compared to Rs. 682.43 Cr in Q2 FY25. The net loss for the quarter widened to Rs. 33.02 Cr, from a net loss of Rs. 14.60 Cr in the corresponding period last year. Basic and diluted EPS stood at Rs. (0.06) for Q2 FY26, down from Rs. (0.03) in Q2 FY25.

In H1 FY26, revenue from operations stood at Rs. 1475.68 Cr, an 8.58% decline year-over-year from Rs. 1614.26 Cr in H1 FY25. The company reported a net loss of Rs. 47.62 Cr for H1 FY26, a significant shift from a profit of Rs. 88.68 Cr in H1 FY25. Consequently, basic and diluted EPS for H1 FY26 was Rs. (0.09), compared to Rs. 0.17 in H1 FY25.

EBITDA and Operational Highlights:
The company reported an EBITDA of Rs. 337 Cr for H1 FY26, with an estimated EBITDA margin of approximately 20.03% based on total income. Operational performance remained strong, with the Amravati plant achieving a Plant Load Factor (PLF) of 79% and Plant Availability of 85% in H1 FY26. Crisil Ratings upgraded the company's short-term bank facilities rating to ‘Crisil A3+’ from ‘Crisil A3’.

Financial Deep Dive:
Total income for Q2 FY26 was Rs. 752.67 Cr (down 3.60% YoY), and total expenses were Rs. 785.69 Cr (up 0.30% YoY). Finance costs for the quarter were Rs. 112.08 Cr.
For H1 FY26, total income was Rs. 1682.70 Cr (down 6.90% YoY), and total expenses increased by 0.80% to Rs. 1730.32 Cr. Employee benefits expense and other expenses saw increases in H1 FY26 compared to H1 FY25.
No data on balance sheet, cash flow, debt, ROE/ROCE, or buybacks was provided in this update.

Outlook & Big Picture:
The report highlights the robust generation growth in India, with thermal power plants continuing to be the backbone. However, the power sector outlook for FY26 indicates a projected contraction in fossil fuel generation growth (-5.06%), contrasting with strong growth in renewable energy.

Regulatory Updates:
A significant development relates to regulatory receivables. The Appellate Tribunal for Electricity (APTEL) had allowed RPL's appeal on May 8, 2025, recognizing specific levies by SECL (surface transportation and sizing charges) and MoEFCC notifications as 'Change in Law'. RPL filed a petition on July 10, 2025, with MERC seeking payment from MSEDCL. In response, MSEDCL filed a Civil Appeal in the Supreme Court on August 4, 2025, challenging the APTEL order. These matters are currently sub judice.

Type: ImportantUpdates
Earnings Report: Yes, for Q2 FY26 and H1 FY26 unaudited standalone results.

RattanIndia Power Limited announced its unadjusted financial results for the quarter and half-year ended September 30, 2025, on October 31, 2025. The company reported a consolidated revenue of ₹653.72 Cr for Q2 FY26, a 4.2% decrease YoY from ₹682.43 Cr in Q2 FY25. The net loss widened substantially to ₹31.55 Cr from ₹1.35 Cr in the same quarter last year. Basic Earnings Per Share (EPS) stood at (₹0.06) compared to (₹0.00) in Q2 FY25.

For the half-year ended September 30, 2025, consolidated revenue declined by 8.6% YoY to ₹1,475.68 Cr from ₹1,614.26 Cr. The company reported a net loss of ₹44.66 Cr, a significant reversal from a profit of ₹91.65 Cr in H1 FY25. Basic EPS for the half-year was (₹0.08) versus ₹0.17 in the prior year.

Financially, the consolidated balance sheet as of September 30, 2025, shows total assets of ₹9,971.29 Cr and total equity of ₹4,540.78 Cr, with negative 'Other Equity' of ₹829.33 Cr. Total borrowings (current and non-current) amounted to approximately ₹3,779 Cr, offset by cash and cash equivalents of ₹571.32 Cr.

Key ongoing matters include challenges in redeeming Redeemable Preference Shares (RPS) due to statutory limitations, with an NCLT case against its subsidiary Poena Power Development Limited still pending, though the case against the holding company was dismissed. The company has also raised supplementary invoices on MSEDCL for 'Change in Law' claims, with substantial payments received. Significant legal disputes persist with Bharat Heavy Electricals Limited (BHEL) concerning an arbitration award, and a matter involving invoked bank guarantees with coal suppliers, though management expresses confidence in favorable resolutions for both.

The company's outlook remains challenging due to persistent losses, substantial debt, and ongoing legal complexities, despite positive operating cash flows and management's optimistic stance on dispute resolutions.

RattanIndia Power Limited has formally announced a meeting of its Board of Directors scheduled for Friday, October 31, 2025. The primary purpose of this meeting is to consider and approve the unaudited financial results, both on a standalone and consolidated basis, for the quarter and the half-year that ended on September 30, 2025. This upcoming board meeting is a regulatory requirement to disclose financial performance for the specified periods. Furthermore, the company has stated that the trading window for dealing in its securities, which was previously closed in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, will continue to remain closed. This closure will persist for 48 hours following the dissemination of the approved financial results to the stock exchanges, ensuring no insider trading occurs around the announcement.

RattanIndia Power Limited has officially submitted a compliance certificate for the quarter ending September 30, 2025, to the National Stock Exchange of India Limited and BSE Limited. This submission is in adherence to Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by KFin Technologies Limited, the company's Registrar and Transfer Agent (RTA), validates that all required details concerning the dematerialization and rematerialization of RattanIndia Power's securities during the specified quarter have been duly furnished to the stock exchanges where the company's shares are listed. This regulatory requirement ensures the smooth functioning of the depository system and provides assurance to investors regarding the integrity of share ownership records. The filing itself does not contain any financial performance data, operational updates, management guidance, or outlook for the company. It is a routine procedural compliance activity that RattanIndia Power, like other listed entities, undertakes quarterly. The information is primarily for regulatory record-keeping and market transparency, ensuring that the company's share register is accurately maintained in electronic form.

RattanIndia Power Limited (CIN: L40102DL2007PLC169082), registered in New Delhi, has officially informed BSE Limited and the National Stock Exchange of India Limited about an update regarding its credit rating. The intimation, dated October 10, 2025, is made in compliance with Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. According to the announcement, Crisil Ratings Limited has upgraded the credit rating for RattanIndia Power's Total Bank Loan Facility. The facility size has been enhanced from Rs. 250 Crore to Rs. 550 Crore. The new rating assigned is 'Crisil A3+', with the rating action being an 'Upgraded'. This upgrade suggests an improved credit profile and perceived lower risk by the rating agency for the company's debt instruments. The company will also make this information available on its website, www.rattanindiapower.com. No other financial performance, guidance, or operational updates were disclosed in this specific announcement.

RattanIndia Power Limited has appointed M/s. S. Khandelwal & Co., Practicing Company Secretaries, as the company's Secretarial Auditors. The members approved this appointment at the 18th Annual General Meeting (AGM) held on September 26, 2025. The term of appointment for the auditors is for five consecutive years, commencing from the conclusion of the 18th AGM until the conclusion of the 23rd AGM. This appointment covers the period from FY 2025-26 to FY 2029-30. M/s. S. Khandelwal & Co. will conduct the secretarial audit of the company. The company stated that the disclosure is made in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The firm's founder, Sanjay Khandelwal, brings over 21 years of experience in corporate and business advisory, with expertise in Company Law, Securities Law, and Corporate Governance. This is a routine governance update and does not involve financial performance or strategic business changes.

RattanIndia Power Limited held its 18th Annual General Meeting (AGM) on September 26, 2025, conducted via Video Conferencing/OAVM. The company submitted the detailed voting results and Scrutinizer's Report as per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Six resolutions were presented and passed with requisite majorities:

1. Adoption of audited standalone and consolidated financial statements for the financial year ended March 31, 2025: Passed with approximately 90.59% of votes polled in favour.
2. Re-appointment of Mr. Himanshu Mathur as a Director: Passed with approximately 99.85% of votes polled in favour.
3. Approval of remuneration to Mr. Ajay Kumar Tandon, an Independent Director: Passed with approximately 99.62% of votes polled in favour.
4. Appointment of Mr. Ravi Kumar Pakalapati as a Whole Time Director: Passed with approximately 99.47% of votes polled in favour.
5. Appointment of M/s S. Khandelwal & Co. as Secretarial Auditors: Passed with approximately 99.99% of votes polled in favour.
6. Ratification of Cost Auditor’s Remuneration: Passed with approximately 99.98% of votes polled in favour.

Resolution No. 7, concerning the approval for the appointment of Mr. Dhruv Rattan Nashier to hold an office or place of profit, was declared infructuous. Mr. Nashier withdrew his consent due to personal reasons and other commitments, leading to the company withdrawing the resolution from consideration by the shareholders.

Voting was conducted via remote e-voting, with significant participation from Promoter and Promoter Group, Public Institutions, and Public Non-Institutions. All resolutions, apart from the withdrawn one, received overwhelming support.

RattanIndia Power Limited (RPL) has officially announced the voting results from its 18th Annual General Meeting (AGM), conducted on September 26, 2025, through Video Conferencing/Other Audio Visual Means. The company submitted the Scrutinizer’s Report and e-voting results in compliance with Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The AGM agenda included several crucial items. Shareholders overwhelmingly approved the adoption of the audited standalone and consolidated financial statements for the financial year ended March 31, 2025, along with the reports from the Board of Directors and Auditors.

Key personnel-related resolutions also garnered strong support. The re-appointment of Mr. Himanshu Mathur as a Director, who was liable to retire by rotation, was passed with the requisite majority. Similarly, the approval for the payment of remuneration to Independent Director Mr. Ajay Kumar Tandon received shareholder consent. The appointment of Mr. Ravi Kumar Pakalapati as a Whole-Time Director was also approved.

In terms of audit functions, shareholders approved the appointment of M/s S. Khandelwal & Co. as the Secretarial Auditors of the Company and ratified the Cost Auditor’s Remuneration.

A notable point from the AGM proceedings was the status of Resolution No. 7, concerning the approval for the appointment of Mr. Dhruv Rattan Nashier to hold an office or place of profit. Due to Mr. Nashier’s personal reasons and other commitments, he had withdrawn his consent for the proposed elevation. Consequently, the company requested that this resolution not be considered, and it was declared infructuous.

No specific financial performance data for FY25 was detailed in this announcement, as it primarily covers the AGM outcomes and voting on corporate governance matters.

RattanIndia Power Limited has issued a clarification to BSE and NSE regarding the delayed submission of the proceedings of its 18th Annual General Meeting (AGM), held on Friday, September 26, 2025. The company explained that the delay was due to unforeseen circumstances related to the Scrutinizer's report, which was postponed because the Scrutinizer faced a family medical emergency. RattanIndia Power acknowledged this as an unintentional lapse and the first such instance in its compliance history, assuring that internal measures are being implemented to avoid future recurrences. The AGM, conducted virtually from 3:00 PM to 3:35 PM IST, included attendance by key directors and officials. The meeting transacted businesses and discussed the company's performance for the financial year 2024-25, along with the Chairman's vision for the future. Shareholders were provided with remote and in-meeting e-voting facilities. The company also noted that the Statutory Auditors had provided a qualified opinion on the financials for the financial year ended March 31, 2025, with management's response detailed in the Board's Report. The Secretarial Auditors' report was unqualified.

The 18th Annual General Meeting (AGM) of RattanIndia Power Limited was successfully conducted on Friday, September 26, 2025, through Video Conferencing (VC) and Other Audio Visual Means (OAVM), adhering to provisions of the Companies Act, 2013, and SEBI (LODR) Regulations, 2015. The meeting, which commenced at 3:00 PM IST and concluded at 3:35 PM IST, saw participation from key management personnel, including Chairman Mr. Rajiv Rattan, Directors, CFO Mr. Manish Chitnis, and Company Secretary Mr. Lalit Narayan Mathpati, along with representatives from statutory and secretarial auditors.

Shareholders were informed about the availability of the Annual Report for the Financial Year 2024-25 and had access to remote e-voting facilities from September 23 to September 25, 2025, with an additional e-voting window provided during the AGM itself. The Company Secretary facilitated the proceedings, ensuring all statutory registers and documents were available for electronic inspection.

During the meeting, Chairman Mr. Rajiv Rattan provided an overview of the company's performance during FY 2024-25 and shared his vision for the future. A significant disclosure was made regarding the Statutory Auditors' Report dated May 07, 2025, on the financials for the fiscal year ended March 31, 2025. The auditors have issued a qualified opinion on these financials. Management's responses to the auditors' observations are set out in the Board's Report to the members. In contrast, the Report of the Secretarial Auditors was noted as being unqualified and without adverse remarks. The businesses enlisted in the AGM Notice were transacted, and the results of the voting will be declared and submitted to the stock exchanges within the stipulated period.

RattanIndia Power Limited has officially announced the closure of its trading window, commencing from October 1, 2025. This decision is in strict adherence to the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, and the company's internal Code of Conduct. The trading window is designed to prevent any potential insider trading activities. It will remain closed until a period of 48 hours has elapsed following the official declaration of the company's un-audited financial results for both the quarter and the half-year ending September 30, 2025. The company has stated that the specific date for the Board meeting, which will convene to approve these financial results, will be communicated to stakeholders in due course. This announcement primarily serves as a regulatory update and does not contain specific financial performance metrics, future guidance, or operational developments.

RattanIndia Power Limited has secured a significant legal victory with the dismissal of a petition filed by REC Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). The Hon’ble National Company Law Tribunal (NCLT), New Delhi Branch (Court – II), ruled in favour of RattanIndia Power, stating that the Redeemable Preference Shares (RPS) held by REC Limited do not qualify as "financial debt" as defined by the IBC. Consequently, REC Limited has been deemed ineligible to initiate Corporate Insolvency Resolution Process (CIRP) against RattanIndia Power.

This order represents a crucial development for RattanIndia Power, removing a major legal obstacle and the immediate threat of insolvency proceedings. The company has consistently maintained its position regarding the nature of the debt instruments. The NCLT's decision validates this stance, providing considerable relief and potentially paving the way for more stable operational and financial planning.

No specific quarterly or annual financial results were disclosed as part of this announcement. Similarly, there was no management guidance, outlook statements, or details regarding conference calls. The financial implications of this dismissal are stated as "N.A.", indicating no direct immediate financial cost or gain from the ruling itself, beyond the removal of the legal threat. The balance sheet, cash flow, and key financial ratios remain unaffected by the announcement, other than the removal of an indirect risk factor.

The company disclosed this event as a material event under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, adhering to compliance requirements for listed entities. The resolution of this litigation is a key factor for the company's future prospects, potentially improving its ability to attract investment and manage its existing operations without the shadow of insolvency.

RattanIndia Power Limited has officially notified the stock exchanges and published a notice in newspapers regarding its upcoming 18th Annual General Meeting (AGM). The announcement, dated September 05, 2025, covers key procedural information for shareholders, including the availability of e-voting facilities and the dates for book closure. The company stated that complete details are available within the formal Notice of AGM, which can be accessed via a link provided in the newspaper clipping and is also hosted on the company's website, www.rattanindiapower.com. This communication serves as a formal intimation to stakeholders about the upcoming corporate event.

RattanIndia Power Limited has filed its Business Responsibility and Sustainability Report (BRSR) for the financial year 2024-2025, in compliance with Regulation 34(2)(f) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. This report, submitted to the stock exchanges, provides an in-depth view of the company's Environmental, Social, and Governance (ESG) performance and practices.

The BRSR details the company's core business activities, which are 100% focused on Thermal Power Generation & Supply, serving Maharashtra State Electricity Development Corporation Limited and the Indian Energy Exchange. It outlines the operational footprint, employee demographics (456 employees, 92 workers), and CSR applicability. The report identifies key material risks including stack emissions, water and effluent management, hazardous waste handling, occupational health and safety, labour management, and cyber security, along with the mitigation strategies in place.

Environmentally, the company reports on energy consumption (primarily non-renewal sources), water withdrawal and discharge, noting its Amravati Thermal Power Plant operates on a Zero Liquid Discharge (ZLD) basis with all effluents treated and reused. Air emissions data for NOx, SOx, and Particulate Matter are provided, alongside greenhouse gas (GHG) emissions (Scope 1). Waste management practices are detailed, with a focus on fly ash and bottom ash utilization. The company is part of the PAT Scheme and reported energy savings.

Socially, the report covers employee and worker well-being, including health and accident insurance, retirement benefits, and grievance redressal mechanisms. It highlights accessibility for differently-abled persons and adherence to equal opportunity policies. Human rights training is provided to employees and workers, with no significant human rights-related complaints filed.

In terms of Governance, RattanIndia Power confirms adherence to its ethical conduct policies, an anti-corruption policy, and transparent stakeholder engagement. The company has established processes for stakeholder identification and engagement, including with banks, customers, employees, regulators, and investors.

The report also details CSR spending, with a turnover of ₹3,284 crores and net worth of ₹4,371 crores for FY2024-25. Overall, the BRSR aims to bridge the gap between financial performance and ESG practices, offering stakeholders enhanced disclosure.

RattanIndia Power Limited has announced the details for its 18th Annual General Meeting (AGM) scheduled for September 26, 2025, to be conducted via Video Conferencing (VC) or Other Audio-Visual Means (OAVM). The company has also released its Annual Report for the financial year 2024-25, which includes audited standalone and consolidated financial statements.

Financially, RattanIndia Power reported a standalone profit after tax (PAT) of ₹215.97 crore for FY25, a substantial turnaround from a loss of ₹1,027.90 crore in the previous year. This improvement was driven by an increase in profit before tax to ₹215.97 crore from ₹196.87 crore, along with better financial costs. Standalone EPS improved to ₹0.40 from ₹(1.91).

On a consolidated basis, however, the company's revenue from operations decreased to ₹3,283.83 crore from ₹3,364.00 crore in FY24. Consolidated PAT for FY25 was ₹221.92 crore, a significant drop from ₹8,896.75 crore in FY24, largely due to an exceptional gain of ₹10,658.88 crore recognized in the prior year. Consolidated EPS also declined to ₹0.41 from ₹16.57.

Key agenda items at the upcoming AGM include the adoption of the FY25 financial statements, reappointment of directors, approval of director remuneration, and appointment of auditors. The company's operational performance remained robust with good plant availability and PLF. Financially, the standalone current ratio improved to 2.95, and the debt-to-equity ratio saw a slight improvement to 0.74. The company highlighted its strategic positioning in the growing Indian power sector but faces ongoing litigations and regulatory matters.

RattanIndia Power Limited has announced its 18th Annual General Meeting (AGM) will be held on Friday, September 26, 2025, at 03:00 PM IST through Video Conferencing (VC)/Other Audio-Visual Means (OAVM). The notice also includes the audited financial statements for FY 2024-25, revealing a significant turnaround. On a standalone basis, the company reported a total income of ₹3,677.28 crore and a profit after tax (PAT) of ₹215.97 crore for FY25, compared to a loss of ₹1,027.90 crore in FY24. The earnings per share (EPS) improved to ₹0.40 from a loss of ₹1.91 in the previous year. Operationally, the Amravati Plant maintained strong performance with an availability of 82.12% and a Plant Load Factor (PLF) of 78.46% for FY25. The agenda for the AGM includes the adoption of audited financial statements, re-appointment of directors, approval of director remuneration, and appointment of secretarial auditors. The company also highlighted various legal and regulatory matters and the ongoing efforts to recover disputed receivables.

RattanIndia Power Limited held a Board of Directors meeting on September 01, 2025, which concluded from 4:00 p.m. to 4:18 p.m. The primary outcome of this meeting was the Board's approval and recommendation for the appointment of M/s. S. Khandelwal & Co., Practicing Company Secretaries, as the company's Secretarial Auditors. This appointment is subject to the approval of the shareholders at the ensuing 18th Annual General Meeting (AGM). The term of appointment for M/s. S. Khandelwal & Co. is for a period of five consecutive years, commencing from the conclusion of the 18th AGM until the conclusion of the 23rd AGM, covering the financial years 2025-26 through 2029-30. The news also provides a brief profile of the firm's founder, Sanjay Khandelwal, highlighting his over 21 years of experience in corporate and business advisory, with expertise in Company Law, Securities Law, Corporate Governance, and regulatory compliance. This disclosure is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. No financial performance data, outlook, or other operational updates were provided in this announcement.

Vistra ITCL (India) Limited, acting in its capacity as Debenture Trustee and Security Trustee for RattanIndia Power Limited, has submitted a significant regulatory disclosure under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosure pertains to the release of a substantial block of 1,39,62,27,524 equity shares of RattanIndia Power Limited. This holding represented 26% of the company's total share capital and 24.3% of its total diluted share capital prior to the release.

These shares were previously held under encumbrance, specifically as a pledge or lien, to secure debentures issued by RattanIndia Power and term loan facilities availed by the company. The effective date of this release was August 5, 2025. Following this action, Vistra ITCL's shareholding in RattanIndia Power has become nil.

The company, RattanIndia Power Limited, has an equity share capital of 5,37,01,05,860 equity shares of face value Rs 10 each. The disclosure also notes the diluted share capital, which includes the potential conversion of optionally convertible cumulative redeemable preference shares.

Vistra ITCL has clarified that while the primary onus for complying with SEBI SAST regulations lies with the lenders and debenture holders, they are making this disclosure out of abundant caution.

This filing addresses a change in the shareholding structure of RattanIndia Power, indicating a significant unwinding of security arrangements. However, the disclosure does not contain any information regarding the company's financial performance (quarterly or annual results, revenue, PAT, margins, EPS), management guidance, future outlook, specific business drivers, or any other financial deep dive metrics such as balance sheet, cash flow, or key ratios. There is also no mention of orders, expansions, product launches, or other corporate events.

This event is primarily a transparency measure related to the company's capital structure and security provisions.