Orient Green Power Company Limited shareholders overwhelmingly approved the company's audited financial statements for FY26 and re-appointed top leadership at its 19th Annual General Meeting (AGM) on July 22, 2026. The meeting, conducted via Video Conferencing and Other Audio Visual Means (OAVM), saw 393 members vote on five resolutions, with all passing by requisite majorities. Chairman K S Sripathi presided over the proceedings, which included the re-appointment of Managing Director & CEO T Shivaraman and Director R Ganapathi, both retiring by rotation.

The consolidated scrutinizer report submitted to the BSE and NSE on July 23, 2026, confirms that promoters and promoter group members voted in favor of all resolutions. M/s. Alagar & Associates LLP served as the independent scrutinizer for the e-voting process, ensuring compliance with Section 108 of the Companies Act, 2013 and Regulation 44 of the SEBI LODR Regulations. The cut-off date for voting eligibility was July 15, 2026, with a total of 8,63,856 shareholders on record.

Voting Results

Shareholders passed four ordinary resolutions and one special resolution. The financial statements received 99.99% support, while the re-appointments of T Shivaraman and R Ganapathi garnered 99.87% assent each. Material related party transactions were approved with 99.36% support. The special resolution to advance loans or provide guarantees under Section 185 of the Companies Act, 2013, passed with 98.56% approval.

Governance and Compliance

The statutory auditors highlighted an "Emphasis of Matter" in their report for FY26, read out by Chief Financial Officer J Kotteswari during the meeting. This emphasis typically draws attention to matters that are fundamental to users' understanding of the financial statements but do not affect the auditor's opinion. The Board had previously recommended these actions, and the high level of shareholder support indicates strong confidence in the company's governance structure and strategic direction.

Remote e-voting commenced on July 19, 2026, and concluded on July 21, 2026. Members who voted remotely were blocked from voting again during the live AGM session to prevent double voting. The promoter group, holding 28,59,70,024 shares, voted unanimously in favor of all resolutions. Public institutions also showed full support for the financial statements and leadership re-appointments, while public non-institutional shareholders provided near-unanimous backing across all items.

Orient Green Power Company Limited reported a 16% year-on-year decline in consolidated net profit to ₹23.94 crore for the quarter ended June 30, 2026. Revenue from operations decreased 7% to ₹81.43 crore, while EBITDA stood at 552M Rupees, reflecting a margin of 67.79% compared to 69% in the same period last year. The decline was attributed to moderate wind availability compared to the exceptionally strong wind conditions in the corresponding quarter of the previous year, though generation from recent capacity additions mitigated the impact.

Financial Performance

The company's financial results for Q1 FY27 were approved by the Board of Directors on July 22, 2026. The net profit margin stood at 28%, down from 31% in the same period last year. The decrease in profitability was primarily driven by a reduction in interest income following the utilization of rights issue proceeds and an increase in depreciation from recent capacity additions.

The following table summarizes the key financial metrics for the quarter:

Operational Updates

During the quarter, Orient Green Power commissioned a 3.3 MW wind turbine, adding to the two 3.3 MW turbines commissioned in the previous quarter. The company's repowering initiatives for older wind assets and solar capacity additions are progressing as scheduled. The Board has revised the timeline for the commencement of commercial production for the 17.6 MW solar power project and 7.8 MW wind farm repowering to September 30, 2026, subject to regulatory approvals.

Strategic Decisions

The Board approved the withdrawal of the merger proposal for its wholly owned subsidiary, Orient Green Power Europe B.V., and initiated its voluntary liquidation. This decision aims to minimize delays associated with the cross-border merger and expedite the repatriation of assets to the company. The liquidation is subject to compliance with applicable laws in India and the Netherlands.

The company has utilized ₹22,166 lakhs of the ₹25,000 lakhs raised through a rights issue, with unspent proceeds of ₹2,834 lakhs placed in fixed deposits as of June 30, 2026.