BPL Limited has fixed July 3, 2026, as the record date to determine shareholder eligibility for its postal ballot process regarding the re-appointment of Mr. C K Sabareeshan as an Independent Director. The resolution requires a special majority and, if approved, the appointment will be effective from August 12, 2026, until August 11, 2032. The company has engaged National Securities Depository Limited (NSDL) to facilitate the remote e-voting facility.

The remote e-voting period commences on Wednesday, July 8, 2026, at 9:00 a.m. (IST) and concludes on Friday, August 7, 2026, at 5:00 p.m. (IST). Shareholders whose names appear in the Register of Members or the Register of Beneficial Owners as on the cut-off date of July 3, 2026, are eligible to participate. The company has stated that physical copies of the notice are not being dispatched, and voting is restricted to electronic means only in compliance with Ministry of Corporate Affairs circulars.

Mr. C K Sabareeshan (DIN: 00013462) currently serves on the board and possesses extensive experience in finance, corporate governance, and strategic management. The Board has recommended his re-appointment, citing his industry experience and contributions during his previous tenure. He has provided the necessary consents and declarations confirming his independence and compliance with regulatory requirements, including the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The results of the postal ballot are expected to be announced on or before August 9, 2026. The scrutinizer for the process is Mr. P Sivarajan, a Practicing Chartered Accountant. The notice and explanatory statement are available on the company’s website and the NSDL e-voting portal.

Key Postal Ballot Details

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE110A01019/84f762c8-8c75-4533-a5aa-926ff9f7f17d.pdf

BPL Limited reported a consolidated net loss of ₹855.01 crore for the financial year ended March 31, 2026, a significant decline from the net profit of ₹9.42 crore recorded in the previous year. Revenue from operations for the period stood at ₹7,812.43 crore. The company’s Board of Directors approved the audited standalone and consolidated financial results at a meeting held on May 28, 2026.

The Board, based on the recommendation of the Nomination and Remuneration Committee, approved the appointment of Mr. C K Sabareeshan as an Independent Director for a further term of five consecutive years, commencing from FY 2026-2027 to FY 2030-2031, subject to shareholder approval. Mr. Sabareeshan holds 1,500 shares in the company.

The financial statements were subject to a qualified opinion by the statutory auditors, MKUK & Associates. The auditors cited that the company is yet to redeem preference shares amounting to ₹16,958.68 lacs, which were due for redemption in August 2019 due to inadequacy of profits. Additionally, the auditors noted that the financial statements of subsidiary Ramagundam Power Generation Private Limited are prepared on a going concern basis, though the auditors believe the factors underlying this assumption may no longer exist.

The company reported that contingent liabilities as of March 31, 2026, stood at ₹6,559.95 crore. BPL Limited is also involved in ongoing legal disputes, including an application filed by a creditor under the Insolvency and Bankruptcy Code, 2016, before the National Company Law Tribunal, Kochi, for the recovery of alleged dues. The company has filed its objections against the application.

Financial Summary