NLC India and PTC India Limited have incorporated a joint venture company named NIRL PTC Renewables Limited to develop green energy projects across India. The Ministry of Corporate Affairs issued the Certificate of Incorporation on September 16, 2026.

The new entity is a wholly owned subsidiary of NLC India Renewables Limited (NIRL), which itself is a wholly owned subsidiary of NLC India Limited. The partnership establishes a clear equity participation structure between the two state-owned power entities.

Joint Venture Structure

The joint venture operates with an equity split of 74:26. NLC India holds the majority stake through its subsidiary NIRL, while PTC India Limited holds the remaining share. This structure aligns with the strategic goals of both companies to expand their renewable energy portfolios.

NLC India Limited disclosed this development pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was issued on September 17, 2026.

What the Numbers Show

The 74:26 equity split indicates that NLC India retains controlling interest in the new venture. This majority stake allows NLC India to consolidate the financial results of NIRL PTC Renewables Limited in its own books, while leveraging PTC India's operational expertise in power generation. The specific capital contribution amounts were not disclosed in the filing.

NLC India has appointed M/s. R V K S and Associates and M/s. G Natesan & Co. as its joint statutory auditors for the financial year 2026-27. The appointment follows a communication from the Office of the Comptroller and Auditor General of India (CAG) dated September 8, 2026.

The company disclosed the change in auditors to stock exchanges on September 9, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure also aligns with SEBI circular HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated January 30, 2026.

Auditor Details

The term of appointment for both firms is one year, covering FY27. The firm profiles and key details are outlined below.

M/s. R V K S and Associates, established in 1999, operates across six locations in India. The firm is a member of AGN International, a network of independent professional firms with close to 200 member firms in over 80 countries. It holds an RBI Unique Code of 192816 (Category-I) and CAG Empanelment No. MD0836.

M/s. G Natesan & Co., established in 1949, maintains eight functional offices. The firm holds ICAI Firm Registration No. 002424S and is eligible for major audits under the CAG with ranking points of 129.25 for 2026. It also holds an RBI Unique Code of 312311.

Compliance Disclosure

The intimation was issued by Sushanta Kumar Panda, Company Secretary and Compliance Officer of NLC India. The filing confirms that there are no relationships between the directors and the appointed audit firms, marked as "NA" in the regulatory disclosure.