Atlanta Electricals Limited has informed the stock exchanges of a proposal to appoint two Non-Executive Independent Directors on the board of its material unlisted subsidiary, Atlanta Trafo Limited. The intimation, dated May 9, 2026, was made pursuant to Regulation 24(1) and Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board of Directors of Atlanta Trafo Limited, at its meeting held on May 9, 2026, recommended the appointments, which are subject to approval by members at the ensuing General Meeting of the subsidiary scheduled for May 12, 2026.

Proposed Appointments at Atlanta Trafo Limited

The two individuals proposed for appointment as Non-Executive Independent Directors at Atlanta Trafo Limited, each for a first term of five consecutive years and not liable to retire by rotation, are detailed below:

Profiles of Proposed Directors

Mr. Dukhabandhu Rath (DIN: 08965826)

Mr. Dukhabandhu Rath is a senior banking professional with nearly four decades of experience in the banking and finance sector. He served State Bank of India for 36 years and retired as Chief General Manager and Head of SBI operations for Gujarat and 3 Union Territories. He possesses extensive experience in banking, finance, fund mobilisation, and strategic management. He also served as Managing Director of Gujarat Venture Finance Limited (GVFL). Mr. Rath holds degrees in Political Science and Economics and has completed a Management Development Programme from Indian School of Business, Hyderabad. He is presently serving as Independent Director on the boards of various companies.

Mr. Rath is an existing Independent Director on the board of Atlanta Electricals Limited. His proposed appointment on the board of the material unlisted subsidiary is being made in compliance with Regulation 24(1) of SEBI LODR Regulations. He is not related to any Director of the Company.

Mrs. Jinkal Darshan Patel (DIN: 08729869)

Mrs. Jinkal Darshan Patel is a seasoned leader with over 19 years of experience in the finance and pharmaceutical industries. She holds a Bachelor of Engineering in Electronics and Communication from S.P. University and an MBA in Finance from Pace University, New York. She gained approximately 2 years of experience in the finance field in the United States. Since joining Elysium Pharmaceuticals in 2009, Mrs. Patel has played a role in driving the company's growth and establishing its reputation on a global scale.

Mrs. Jinkal Darshan Patel is an existing Independent Director on the board of Atlanta Electricals Limited. Her proposed appointment on the board of the material unlisted subsidiary is being made in compliance with Regulation 24(1) of SEBI LODR Regulations. She is not related to any Director of the Company.

Regulatory Compliance

The intimation has been filed in accordance with the applicable regulatory framework. Key compliance details are as follows:

• Both appointments are proposed pursuant to Regulation 24(1) of SEBI LODR Regulations, which governs the appointment of Independent Directors on the boards of material unlisted subsidiaries.
• Disclosures have been made as required under Regulation 30 read with Schedule III of SEBI LODR Regulations.
• Details have been provided in accordance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.
• Neither Mr. Dukhabandhu Rath nor Mrs. Jinkal Darshan Patel is debarred from holding the office of Director by virtue of any order passed by SEBI or any other authority, as required under BSE Circular ref. no. LIST/COMP/14/2018-19 and NSE Circular ref. no. NSE/CML/2018/24, both dated June 20, 2018.

The intimation was signed by Tejalben Saunakkumar Panchal, Company Secretary and Compliance Officer of Atlanta Electricals Limited.

Atlanta Electricals Limited announced its audited consolidated financial results for the quarter and full year ended March 31, 2026, at its Board of Directors meeting held on May 9, 2026, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were reviewed and recommended by the Audit Committee on the same date. The statutory audit was conducted by M/s PSCA & Co., Chartered Accountants (FRN: 118493W), which issued an unmodified opinion on both standalone and consolidated financial results. The meeting commenced at 4:00 PM and concluded at 5:15 PM.

Key Consolidated Financial Highlights

The company delivered a standout consolidated performance for the quarter and full year ended March 31, 2026, with revenue, EBITDA, and PAT all recording strong year-on-year growth. The following table presents the key consolidated financial metrics in Rs. Crores:

*EBITDA excluding other income

Revenue from operations for Q4 FY26 stood at Rs. 747.62 crores, up 81.7% YoY, while full-year FY26 revenue reached Rs. 1,851.52 crores, reflecting 48.8% growth. Growth was driven by the ramp-up of the new Vadod facility, commissioning of Atlanta Trafo, and continued high utilisation at legacy plants. EBITDA margin for Q4 FY26 expanded 333 bps YoY to 20.00%, and for FY26 expanded 304 bps YoY to 18.60%, driven by operating leverage, a richer 220 kV product mix, and improved procurement efficiency. PAT grew 128.9% YoY to Rs. 102.19 crores in Q4 and 70.1% YoY to Rs. 201.77 crores for the full year.

Standalone Financial Performance

Atlanta Electricals delivered a strong standalone performance for the year ended March 31, 2026. Revenue from operations grew significantly to ₹1,85,132.25 lakhs compared to ₹1,24,417.96 lakhs in the previous year. Net profit for the year rose to ₹21,707.10 lakhs from ₹11,865.61 lakhs. The following table summarises the key standalone financial metrics:

Consolidated Financial Performance

On a consolidated basis, which includes direct subsidiaries Atlanta Trafo Limited, Atlanta Transformers Private Limited, and AE Components Private Limited, the group reported revenue from operations of ₹1,85,151.73 lakhs for the year ended March 31, 2026, compared to ₹1,24,417.96 lakhs in the prior year. Consolidated net profit for the year stood at ₹20,176.53 lakhs versus ₹11,864.66 lakhs previously. The key consolidated metrics in ₹ Lakhs are presented below:

Balance Sheet Highlights

The standalone balance sheet as at March 31, 2026 reflects a significant expansion in the company's asset base. Total assets grew to ₹1,50,524.96 lakhs from ₹86,620.33 lakhs in the prior year. Total equity strengthened to ₹94,451.42 lakhs from ₹34,992.62 lakhs, supported by paid-up equity share capital of ₹1,537.93 lakhs and other equity of ₹92,913.49 lakhs. On a consolidated basis, total assets stood at ₹1,50,861.03 lakhs and total equity at ₹92,918.62 lakhs as at March 31, 2026. Notably, both the Rs. 140 crores Vadod term loan and Rs. 218 crores BTW acquisition term loan have been fully repaid, with the closing balance on term debt as of March 31, 2026 standing at NIL.

Key Business Updates

The company's order book stands at Rs. 2,493 crores as of March 31, 2026, increasingly weighted toward higher voltage classes, with 52% in 220 kV and approximately 11% in 400 kV class. Q4 FY26 order inflow was Rs. 733 crores, including marquee orders of Rs. 288 crores from KPTCL (13 transformers + 11 NIFPS) and an Independent Power Producer executing for NTPC. In April 2026, PGCIL approval was received for manufacturing of up to 400 kV class transformers at the Vadod facility, achieved within just two years of ground-breaking, described as among the fastest such timelines in the Indian transformer industry. In May 2026, the company secured an order of Rs. 190 crores from RVPN for 53 power transformers under a two-year rate contract. During FY26, legacy facilities operated at high capacity utilisation, while Vadod (Unit 4) ramped up to approximately 39% annualised utilisation and Atlanta Trafo (Unit 5) reached approximately 15% annualised utilisation. CRISIL reaffirmed the long-term rating at A/Stable, and overall bank facilities were enhanced from Rs. 910 crores to Rs. 1,460 crores during the year.

Subsidiary Loans Approved

The board approved two significant inter-company loans to support capital expenditure requirements of its wholly owned subsidiaries. The details are as follows:

ESOS 2026 Approved

On the recommendation of the Nomination and Remuneration Committee, the board approved the formulation and implementation of the Atlanta Electricals Employee Stock Option Scheme 2026 ("ESOS 2026"), framed in accordance with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The scheme covers eligible employees of the holding company, its subsidiaries, associate companies, and group companies. The total number of stock options proposed to be granted shall not exceed 7,70,000 equity shares of face value of ₹2 each, constituting approximately 1% of the current issued and paid-up equity share capital. Options shall vest not earlier than a minimum period of 1 year and not later than a maximum period of 6 years from the date of grant, with an exercise period of a maximum of 5 years from the relevant vesting date. The scheme remains subject to approval of members and requisite regulatory or statutory approvals.

Auditor Reappointments

The board, on the recommendation of the Audit Committee, approved the reappointment of the following auditors:

IPO Proceeds Utilisation

The company disclosed the status of utilisation of IPO proceeds as on March 31, 2026. The equity shares of the company were listed on BSE Limited and the National Stock Exchange of India Limited with effect from September 29, 2025, pursuant to an Initial Public Offering of 53,11,825 equity shares of face value of ₹2 each at a price of ₹754 per share, aggregating to ₹68,734.14 lakhs. The utilisation status is as follows:

The statutory auditors certified that the company has utilised IPO proceeds during the period ending March 31, 2026 for the purposes stated in the Prospectus, with no material deviation or variation in utilisation. Unutilised amounts of ₹4.54 crores were held in permitted accounts, with ₹0.30 lakhs kept in a monitoring account and ₹4.54 crores relating to offer expenses kept separately in a public offer account.

Management Commentary

Mr. Niral Patel, Chairman and Managing Director, Atlanta Electricals Limited, said, "FY26 has been a defining year for Atlanta Electricals, our first full financial year ending after our listing on the BSE and NSE on 29th September 2025. The 18 months of intensive capacity build-out has translated into delivery and growth, with our installed manufacturing capacity now at 63,060 MVA across our five facilities. For FY26, consolidated revenue stood at Rs. 1,851.52 crores, up 48.8% year-on-year. EBITDA expanded to Rs. 344.44 crores at a margin of 18.60%, an expansion of 304 basis points. PAT stood at Rs. 201.77 crores, up 70.1% year-on-year. Q4 specifically delivered our highest-ever quarterly performance with revenue of Rs. 747.62 crores and EBITDA margin reaching 19.99%. Our balance sheet has been fully de-leveraged with both the Vadod and BTW acquisition term loans fully repaid. The standout milestone of the year was receiving the PGCIL approval for manufacturing of up to 400 kV class transformers at our Vadod facility, achieved within just two years of groundbreaking, among the fastest such timelines in the Indian transformer industry. Looking ahead to FY27, our priorities are to prototype the first 400 kV transformer at Vadod and 765 kV at Atlanta Trafo, scale exports, capture domestic demand from BESS, data centers and renewables, commence operations at our new Inverter Duty Transformer facility, and start our Tank and Radiator backward integration plant. With Rs. 9 trillion of transmission investment planned through 2032, Atlanta Electricals is well-positioned to capture this multi-year growth opportunity."

About Atlanta Electricals Limited

Atlanta Electricals Limited manufactures and supplies a wide range of power transformers from 5 MVA/11 kV up to 500 MVA/765 kV, as well as auto transformers, inverter duty transformers, furnace transformers, generator transformers and special duty transformers, at its five facilities in Gujarat and Karnataka. With over 30 years of experience, as of March 31, 2026, the company has supplied over 4,800 transformers totalling more than 1,16,000 MVA across the country.

Trading Window Closure

In line with the company's Code of Conduct for Prohibition of Insider Trading, framed pursuant to the SEBI (Prohibition of Insider Trading) Regulations, 2015, the trading window for dealing in the securities of Atlanta Electricals Limited remained closed until 48 hours after the declaration of the audited financial results for the quarter and year ended March 31, 2026, as communicated in an earlier notice dated March 24, 2026.