Divine Power Energy Limited shareholders approved all nine resolutions proposed during its 25th Annual General Meeting (AGM) held on June 27, 2026, via video conferencing. The meeting saw the adoption of audited financial statements for the financial year ended March 31, 2026, and the re-appointment of Director Vikas Talwar, who retired by rotation. The company also secured approval for the Divine Power Energy Limited Employee Stock Option Plan 2026 and authorized the Board to fix statutory auditor remuneration for FY 2026-2027.

The scrutinizer's report, filed by Sumit Bajaj of Sumit Bajaj & Associates, detailed the voting outcomes for each resolution. Remote e-voting was conducted from June 24 to June 26, 2026, while e-voting during the AGM was facilitated for attendees. A total of 15,763,080 valid votes were cast across all resolutions, with the majority receiving unanimous support.

Voting Results Summary

Key Approvals

The approval of the ESOP 2026 plan and the authorization to increase borrowing limits under Section 180(1)(c) of the Companies Act, 2013, were among the key special resolutions passed. Additionally, shareholders ratified the remuneration payable to cost auditors for the financial year 2026-2027. The resolutions regarding loans, guarantees, and investments under Sections 185 and 186 also received the necessary shareholder approval, with minor opposition recorded on the investment limit increase resolution.

The meeting proceedings were conducted in compliance with the Companies Act, 2013, and the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The scrutinizer confirmed that the remote e-voting register and other records would be handed over to the Compliance Officer after the Chairman signs the minutes.

Divine Power Energy Limited reported a consolidated profit of ₹782.60 lakh for the half year ended September 30, 2025. The company's board approved the unaudited financial results during a meeting held on November 12, 2025, and authorized an increase in authorised share capital from ₹25 crore to ₹50 crore. Additionally, the firm confirmed that the full proceeds of ₹16.32 crore raised via a preferential issue in July 2025 were utilized for working capital.

Financial Performance

The standalone financial results for the half year ended September 30, 2025, show a profit of ₹473.71 lakh, compared to ₹450.42 lakh in the corresponding period of the previous year. Total income for the period stood at ₹18,096.99 lakh, up from ₹14,425.29 lakh in the half year ended September 30, 2024. The board also approved the alteration of the capital clause in the Memorandum of Association to facilitate the increase in authorised share capital.

Utilization of Issue Proceeds

The company clarified that the earlier submission of financial results did not include the disclosure for the utilization of issue proceeds. A revised outcome of the board meeting, including the disclosure in the prescribed SEBI format, was submitted to the exchange. The company raised ₹16.32 crore through the preferential allotment of 12,00,000 equity shares at ₹136 each, including a premium of ₹126 per share, on July 1, 2025. The statutory auditor confirmed that the entire amount was utilized for working capital expenditure with no deviation from the stated object.

Consolidated Results

The consolidated financial results reflect the acquisition of Vimlesh Industries Private Limited, which became a wholly owned subsidiary on April 2, 2025. The acquisition resulted in goodwill of ₹3,885.37 lakh. Consolidated revenue from operations for the half year ended September 30, 2025, was ₹27,948.58 lakh, with a total profit of ₹782.60 lakh. The earnings per share (EPS) on a consolidated basis was reported at ₹3.21.

Corporate Actions

The board deferred a proposal regarding the issuance of equity shares or convertible warrants on a preferential basis due to administrative and procedural reasons. The company has scheduled an Extra-Ordinary General Meeting (EGM) on December 8, 2025, to seek shareholder approval for the alteration of the capital clause and other board decisions. M/s Sumit Bajaj & Associates was appointed as the scrutinizer for the e-voting process.