HPL Electric & Power Limited has completed the electronic dispatch of the postal ballot notice to seek shareholder approval for the re-appointment of Dr. (Mrs.) Rashmi Vij as an Independent Director for a second term of five years. The notice was sent on Friday, June 05, 2026, to members whose email addresses are registered with the company or depository participants as on the cut-off date of Friday, May 29, 2026. The resolution, if passed, will extend her tenure from May 12, 2026, to May 11, 2031.

The Board of Directors recommended the appointment based on the evaluation by the Nomination and Remuneration Committee, which confirmed her eligibility and independence under the Companies Act, 2013, and SEBI Listing Regulations. The company has engaged KFin Technologies Limited to facilitate the remote e-voting process.

Postal Ballot Schedule

The schedule for the postal ballot and e-voting process is outlined below:

Proposed Resolution Details

The special resolution seeks the re-appointment of Dr. (Mrs.) Rashmi Vij (DIN: 01103219). She has submitted a declaration confirming she meets the criteria of independence under Section 149(6) of the Companies Act, 2013, and Regulation 16(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The director is not liable to retire by rotation.

For the financial year 2025-26, Dr. (Mrs.) Rashmi Vij was paid a sitting fee of ₹5.45 Lakhs. The proposed remuneration for the new term includes sitting fees and reimbursement of expenses for attending Board and Committee meetings. She holds no shares in the company and has no directorships in other listed entities.

Voting Process and Scrutiny

Mr. Deepak Kukreja and Mrs. Monika Kohli, partners of DMK Associates, Company Secretaries, have been appointed as scrutinizer and alternate scrutinizer, respectively, to ensure the process is conducted fairly. The scrutinizer's decision on the validity of the postal ballot will be final. Shareholders can cast their votes through the e-voting module provided by KFin Technologies Limited or via depository participants NSDL and CDSL.

The results of the postal ballot will be announced on or before 05:00 p.m. on Thursday, July 09, 2026. The outcome will be displayed on the company's website and communicated to the stock exchanges.

HPL Electric & Power Limited reported a consolidated net profit of ₹9,125.25 lakh for the financial year ended March 31, 2026, compared to ₹9,398.71 lakh in the previous year. Total income from operations for the year increased to ₹181,109.67 lakh from ₹170,024.40 lakh in FY25. The board has recommended a final dividend of ₹1.00 per equity share for the financial year 2025-26, subject to shareholder approval.

The standalone net profit for the year stood at ₹8,306.16 lakh, down from ₹8,679.60 lakh in the corresponding period last year. Standalone total income from operations was recorded at ₹185,799.68 lakh, a decrease from ₹188,440.50 lakh in the previous year. The company recognized an incremental liability of ₹724.68 lakhs as an exceptional item during the quarter ended December 31, 2025, due to the reassessment of employee benefit obligations under the New Labour Codes.

For the quarter ended March 31, 2026, the consolidated net profit was ₹3,090.12 lakh, while total income from operations was ₹51,970.32 lakh. On a standalone basis, the company reported a net profit of ₹2,868.71 lakh and total income from operations of ₹51,176.99 lakh for the same quarter. The exceptional items for the quarter ended December 31, 2025, included a charge of ₹724.68 lakhs for employee benefit obligations and a receipt of ₹180.00 lakhs from the settlement of old litigation.

The financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on May 27, 2026. The statutory auditors conducted an audit under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and expressed an unmodified report on the results.

Financial Performance

The following table summarizes the key financial metrics for the company for the quarter and year ended March 31, 2026: