Adani Power Limited has announced a significant leadership transition in its Company Secretary and Compliance Officer position through an official regulatory filing, marking the end of more than a decade of service by the incumbent and the appointment of an experienced professional to take over the role.

Board Meeting and Regulatory Disclosure

The Board of Directors of Adani Power Limited, at its meeting held on March 17, 2026, approved the superannuation of Mr. Deepak S Pandya from his position as Company Secretary and Compliance Officer. The decision was made based on recommendations from the Nomination and Remuneration Committee. The Board meeting commenced at 5:00 p.m. and concluded at 6:35 p.m.

The announcement was made through official communication to BSE Limited and National Stock Exchange of India Limited, pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Deepak S Pandya's Service Record

Mr. Deepak S Pandya has served as Company Secretary and Compliance Officer of Adani Power Limited since August 2015. After rendering more than a decade of successful service in this key managerial personnel role, he will be superannuating with effect from the closure of business hours on March 31, 2026. His position is categorized as Senior Management Personnel under the company's organizational structure.

Puneet Bansal's Appointment and Credentials

Mr. Puneet Bansal will assume the role of Company Secretary and Compliance Officer effective April 1, 2026, on a full-time employment basis. He brings extensive experience to the position, having worked with Adani Group since 2021 as Group Head – Governance & Secretarial, overseeing the governance function of diverse listed and unlisted entities within the conglomerate.

Professional Experience and Expertise

Mr. Bansal is a seasoned Company Secretary and Legal Professional with over three decades of experience in several key areas:

Prior to joining Adani Group, he has held senior positions with prominent organizations including Pidilite Industries, Grasim Industries, KPIT Infosystems, and RP Goenka Group, serving as Company Secretary and General Counsel. He actively engages with industry chambers in the law framing process and is an avid speaker at various forums.

Regulatory Compliance Framework

The disclosure follows the prescribed format under SEBI LODR Regulations and SEBI Circular bearing reference number HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The information has been communicated to both BSE Limited (Scrip Code: 533096) and National Stock Exchange of India Limited (Scrip Code: ADANIPOWER), and is also available on the company's website at www.adanipower.com .

This leadership transition represents a planned succession in a key managerial role, ensuring continuity in corporate governance and compliance functions at Adani Power Limited while bringing enhanced expertise in governance and secretarial practices to the organization.

Adani Power Limited has secured a significant long-term power supply contract from Maharashtra State Electricity Distribution Company Limited (MSEDCL), marking another milestone in the company's expansion strategy. The Letter of Award covers the supply of 1,600 MW thermal power under a competitive bidding process where Adani Power emerged as the successful bidder.

Contract Details and Terms

The power supply agreement encompasses several key parameters that highlight the scale and importance of this contract:

The agreement includes pre-determined coal linkage, ensuring long-term fuel security and supporting reliable and cost-effective power supply throughout the contract period.

Strategic Significance for Adani Power

This contract win represents part of a broader success pattern for Adani Power during the current financial year. The company has demonstrated strong competitive positioning in the thermal power sector, securing multiple long-term agreements that provide revenue visibility and operational stability.

Recent Performance Highlights:

• Five long-term PSA bids won during FY25-26
• Combined capacity of 10,400 MW secured in current financial year
• Total long-term PSAs now covering 13.3 GW of 23.8 GW under-implementation pipeline

According to S.B. Khyalia, CEO of Adani Power Limited, the award reflects the company's competitive cost structure and ability to deliver dependable baseload power to support India's growing electricity needs.

Capacity Expansion and Market Position

Adani Power maintains its position as India's largest private thermal power producer with current installed capacity of 18.15 GW spread across twelve power plants in multiple states. The company's expansion strategy involves significant capacity additions planned through FY31-32.

More than 95% of the company's current operating capacity operates under medium-to-long-term PSAs, while over 55% of upcoming capacity is secured under 25-year agreements, providing strong revenue visibility.

Industry Context and Future Outlook

The contract award occurs during a period of renewed investment surge in India's thermal power sector, driven by the nation's goal of adding 100 GW of thermal power capacity by 2032. India's steadily rising power demand, supported by economic expansion, urbanisation, and industrial growth, creates substantial opportunities for reliable capacity additions.

The MSEDCL contract strengthens Adani Power's commitment to supporting Maharashtra's development goals while contributing to national energy security objectives through long-term partnerships and affordable electricity supply.