Godawari Power & Ispat Limited has increased its investment in its wholly-owned subsidiary, Godawari New Energy Private Limited (GNEPL), by ₹100 crore to fund the establishment of a 20 GWh Battery Energy Storage System (BESS) plant. The subsidiary allotted 10,00,00,000 equity shares of ₹10 each at par to Godawari Power & Ispat Limited on June 4, 2026, bringing the parent company's total holding to 45,00,00,000 shares. This transaction, executed on a rights basis, raises the aggregate investment in GNEPL to ₹450 crore, representing 100% of the subsidiary's paid-up capital.

GNEPL, incorporated on June 25, 2025, is currently in the process of setting up the BESS project in Maharashtra, with its registered office in Raipur, Chhattisgarh. The company has not yet commenced commercial operations. As of March 31, 2026, GNEPL reported a net worth of ₹298.01 Crores and nil turnover. The fresh infusion of capital will be utilized to meet the capital expenditure and working capital requirements for the first phase of the energy storage project.

The investment was classified as a related party transaction since GNEPL is a wholly-owned subsidiary of Godawari Power & Ispat Limited. The disclosure was made to the stock exchanges under Regulation 30 of the SEBI Listing Regulations. No specific governmental or regulatory approvals were required for this acquisition of shares, which was settled via cash consideration.

Investment Details in GNEPL

Godawari Power & Ispat Limited has published the notice regarding its Extraordinary General Meeting (EGM) scheduled for June 27, 2026, in English and Hindi newspapers on May 29, 2026. The meeting, to be held via video conferencing, seeks shareholder approval for a financial assistance of up to ₹150 crore to its subsidiary, Godawari Education and Research Foundation, for setting up a residential school in Raipur. Additionally, the EGM will address the revision of remuneration for three Whole-Time Directors, effective from July 01, 2026.

The Board of Directors approved the proposal to grant the unsecured loan to the subsidiary, requiring shareholder consent under Section 185 of the Companies Act, 2013. Mr. Siddharth Agrawal, a Director interested in this resolution, will not vote on the matter. Shareholders will also vote on revising the remuneration of Mr. Dinesh Agrawal, Mr. Siddharth Agrawal, and Mr. Abhishek Agrawal, with the proposed salary scale ranging from ₹4.80 crore to ₹8.40 crore per annum.

The revised remuneration for Mr. Dinesh Agrawal is effective from July 01, 2026, to August 10, 2027. Mr. Siddharth Agrawal's revision applies from July 01, 2026, to March 31, 2027, while Mr. Abhishek Agrawal's revision is effective from July 01, 2026, to November 08, 2026. All three directors are relatives of the Chairman cum Managing Director and promoter shareholders.

For the financial year ended March 31, 2026, the company reported a gross turnover and other income of ₹4905.45 crore and a net profit of ₹919.43 crore. The net worth stood at ₹5676.81 crore. Remote e-voting will be available from June 24, 2026, to June 26, 2026.

Financial Performance for FY26