Indian Renewable Energy Development Agency Limited held its 39th Annual General Meeting (AGM) on September 29, 2026, via video conferencing. The shareholders adopted the audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026, and confirmed the declaration of the final dividend for FY26.

The meeting was chaired by Dr. Bijay Kumar Mohanty, Chairman and Managing Director (Additional Charge). A total of 122 shareholders attended the virtual session. The statutory auditors issued their report without any qualification, adverse comments, or disclaimer. Additionally, the Comptroller & Auditor General of India provided 'NIL' comments on the company's financial statements for the period.

Key resolutions passed

The shareholders approved several ordinary and special business items during the proceedings. The key resolutions included:

• Adoption of audited standalone and consolidated financial statements for FY26.
• Confirmation of interim dividend paid and declaration of final dividend for FY26.
• Re-appointment of Shri Padam Lal Negi as Director (Government Nominee) retiring by rotation.
• Appointment of Shri Javvadi Venkata Naga Subramanyam as Director (Government Nominee).
• Appointment of Shri Manoneet Dalal as Non-Official Director (Independent Director).
• Authorization for the Board to fix remuneration for statutory auditors appointed by the CAG for FY27.
• Ratification of remuneration for the Cost Auditor for FY27.

Governance and audit observations

The Secretarial Auditor noted non-compliance regarding the composition of the Board of Directors and Board Level Committees for a certain period due to a lack of Independent Directors. The company also reported non-compliance with quorum requirements in one board meeting during FY26. In response, management stated that as a government company, the power to appoint directors vests with the President of India through the Ministry of New and Renewable Energy. The company is actively pursuing the matter with the administrative ministry to resolve these structural gaps.

What the numbers show

While specific financial figures such as revenue or net profit were not detailed in the AGM proceedings text, the clean audit opinion from both statutory auditors and the Comptroller & Auditor General signals robust compliance and financial health for FY26. The absence of qualifications suggests that the company’s accounting practices and disclosures met regulatory standards without material misstatements. The launch of the company's first-ever ESG Report during the meeting highlights a strategic shift towards enhanced sustainability reporting alongside traditional financial performance.

Indian Renewable Energy Development Agency Limited has appointed M/s Shiv & Associates and M/s MAPSS & Co. as its joint statutory auditors for the fiscal year 2026-27 (FY27). The appointment was conveyed by the Comptroller and Auditor General of India (C&AG) through letters dated September 7, 2026, and September 25, 2026.

The disclosure was made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. IREDA informed the National Stock Exchange of India Limited and BSE Limited regarding the change in statutory auditors.

Auditor profiles

The newly appointed firms bring significant experience in auditing public sector entities and large corporations. Details of the two chartered accountant firms are outlined below:

Appointment details

M/s Shiv & Associates previously served as the statutory auditor for FY26, having been appointed by the C&AG. For FY27, the role is shared with M/s MAPSS & Co., marking a transition to a joint auditor structure for the renewable energy financing agency.

The company confirmed that there are no relationships between directors and the appointed auditors that require disclosure under SEBI Master Circular No SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.