GK Energy Limited has secured a significant Letter of Empanelment (LoE) from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for the deployment of 15,000 Off-Grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) across the state of Maharashtra. The empanelment, disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, carries a total value of ₹353.89 Crores, inclusive of GST. The announcement was made on May 06, 2026, and was communicated to both the National Stock Exchange of India Limited and BSE Limited.

Order Overview and Scope

The empanelment covers the design, manufacture, supply, transport, installation, testing, and commissioning of off-grid DC solar photovoltaic water pumping systems under the state government's Magel Tyala Saur Krushi Pump Yojana scheme. The 15,000 pumps span three capacity variants — 3 HP, 5 HP, and 7.5 HP — catering to agricultural water pumping needs across Maharashtra. The contract is classified as a one-time domestic order, with no promoter or promoter group interest in the awarding entity, and does not constitute a related party transaction.

The following table summarises the key details of the empanelment as disclosed:

Execution and Compliance

The entire scope of 15,000 solar pumping systems is required to be executed within 60 days from the date of issuance of the Work Order or Notice to Proceed (NTP). The disclosure was made in compliance with Regulation 30 read with Para B of Part A of Schedule III of the SEBI Listing Regulations, as well as SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The announcement was signed by Shubham Suresh Jain, Company Secretary and Compliance Officer (Membership No. A76578), on behalf of the Board of Directors from Pune.

GK Energy Limited has issued a formal postal ballot notice to shareholders seeking approval for the appointment of Mr. Subhash Vasant Ghaisas as Non-Executive Independent Director. The company's board had previously approved his regularization during a meeting held on April 07, 2026, and has now initiated the shareholder approval process through electronic voting.

Director Appointment Details

The postal ballot seeks shareholder consent for appointing Mr. Subhash Vasant Ghaisas (DIN: 11479724) as Non-Executive Independent Director through a special resolution. The board had initially appointed him as Additional Non-Executive Independent Director based on recommendations from the Nomination and Remuneration Committee.

Professor Subhash V. Ghaisas brings over four decades of leadership in solar energy, semiconductor physics, and advanced materials research. He holds a Ph.D. in Experimental Physics from the University of Pune and has served as Director of the School of Energy Studies at Savitribai Phule Pune University.

E-Voting Process and Timeline

The company has engaged MUFG Intime India Private Limited (formerly Link Intime India Private Limited) to facilitate remote e-voting for shareholders. The postal ballot notice was dispatched on April 08, 2026, to members whose email addresses are registered with the company or depositories.

Regulatory Compliance and Newspaper Advertisement

The board has appointed CS Avanti Kashinath Rajwade, a Practicing Company Secretary, as the scrutinizer to oversee the postal ballot and e-voting process. This appointment ensures independent supervision and maintains transparency in the approval procedure.

In compliance with regulatory requirements, GK Energy Limited submitted copies of postal ballot newspaper advertisements to stock exchanges on April 09, 2026. The advertisements were published in Financial Express (English) and Loksatta (Marathi) newspapers, confirming the completion of postal ballot notice dispatch and providing e-voting information to shareholders.

All decisions align with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has formally communicated these developments to both the National Stock Exchange of India Limited and BSE Limited, fulfilling its disclosure obligations to stock exchanges and investors.

SEBI Compliance Certificate Submission

In a separate regulatory development, GK Energy Limited submitted a Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026. The certificate was received from MUFG Intime India Private Limited, the company's Registrar and Transfer Agent.

The certificate confirms that securities received from depository participants for dematerialisation during Q4FY26 were properly confirmed to depositories and that security certificates were mutilated and cancelled after due verification within prescribed timelines.

Committee Memberships

Upon approval, Mr. Ghaisas will serve as a member of key board committees, enhancing the company's governance structure.

The postal ballot notice is available on the company's website at www.gkenergy.in and on the e-voting platform. Shareholders can access detailed voting instructions and cast their votes electronically during the specified period to participate in this important corporate governance decision.