Accord transformer & switchgear Limited has signed a strategic Memorandum of Understanding with the Western Administrative District of the City of Moscow, Russian Federation, marking a significant milestone in the company's international expansion journey. The agreement was formally executed on March 22, 2026, in Haryana, India, establishing a comprehensive framework for industrial cooperation and energy infrastructure development.

Strategic Partnership Framework

The MOU creates a non-binding strategic partnership focused on strengthening industrial ties and promoting sustainable energy solutions between the two regions. This collaboration reflects a shared vision to accelerate growth in power infrastructure and related sectors across both India and Russia.

Collaboration Areas

The strategic partnership encompasses multiple key areas designed to foster comprehensive cooperation:

Energy Infrastructure Development: The partnership will focus on joint efforts in supply, installation, and commissioning of transformers, distribution systems, switchgear, and related electrical equipment. This collaboration aims to enhance the energy infrastructure capabilities in both regions.

Manufacturing and Industrial Cooperation: Both parties will explore opportunities for joint ventures, local assembly units, and manufacturing facilities in Moscow. This initiative is designed to enhance localization and production capabilities while strengthening the manufacturing ecosystem.

EPC Projects: The agreement covers collaboration on large-scale Engineering, Procurement & Construction projects, including substations and industrial power systems. These projects will be executed in coordination with government and public sector entities.

Technology Exchange and Development

The MOU emphasizes technology transfer and skill development as core components of the partnership:

• Exchange of technical expertise in transformer manufacturing
• Training programs and capacity-building initiatives
• Smart grid technology development
• Energy-efficient technology solutions
• Structured business delegations and technical discussions

Leadership Perspective

Mr. Pradeep Kumar Verma, Chairman & Managing Director of Accord Transformer & Switchgear Limited, highlighted the significance of this partnership. He stated that the MOU represents a significant milestone in the company's journey toward global expansion, opening new avenues for technology exchange, infrastructure development, and international market access. The leadership expressed confidence that this partnership will contribute meaningfully to strengthening energy ecosystems while driving sustainable and inclusive growth.

Company Profile

Accord Transformer & Switchgear Limited operates as a leading provider of comprehensive energy solutions, specializing in design, manufacturing, installation, and commissioning of transformers, substations, and switchgear systems. The company maintains advanced manufacturing facilities in Bhiwadi and has established a strong presence across power transmission, renewable energy, and industrial sectors, committed to delivering reliable and efficient infrastructure solutions.

Accord Transformer & Switchgear Limited has announced the appointment of internal and secretarial auditors for the financial year 2025-26, following a board meeting conducted on March 24, 2026. The meeting was held through video conferencing and other audio-visual means, commencing at 05.00 pm and concluding at 05.25 pm.

Key Appointments Made

The board approved two significant appointments to strengthen the company's audit and compliance framework for the upcoming financial year.

Internal Auditor Profile

Mr. Ranjan Kumar Samal brings extensive experience to his new role as Internal Auditor. His professional background includes:

• Over 28 years of experience in accounting, auditing, and financial management
• Expertise across manufacturing and automobile sectors
• Specialization in financial reporting, compliance, taxation, and audit coordination
• Previous senior roles as Accounts Head and Manager (Accounts) in reputed organizations
• Strong expertise in MIS reporting, statutory compliance, and financial analysis
• Educational qualifications include M.Com. and LL.B. from Utkal University
• Completed articleship with a Chartered Accountant firm
• Proficient in Tally ERP, MS Excel, and managing complex financial operations

Secretarial Auditor Credentials

Ms. Divya Rani has been appointed as the Secretarial Auditor, bringing valuable expertise in corporate governance:

Ms. Rani operates as a sole proprietor and has been actively involved in ensuring regulatory compliance and advising companies on good governance practices. Her expertise includes compliances related to BSE and other regulatory requirements.

Independence and Governance

Both appointees maintain independence from the company's management structure. The company has disclosed that neither Mr. Ranjan Kumar Samal nor Ms. Divya Rani are related to any directors of Accord Transformer & Switchgear Limited, ensuring objective audit oversight.

Regulatory Compliance

The appointments were made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided detailed disclosures as required under Schedule III and SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.