Powerica Limited has received a Demand Notice from the Maharashtra Industrial Development Corporation (MIDC) for the recovery of Goods and Services Tax (GST) for a past period. The notice, received on June 05, 2026, pertains to FY 2026-27 and demands a payment of Rs. 5,67,694.87 along with interest. The company stated that there is no material impact on its financials, operations, or other activities as a result of this demand.

The disclosure was made to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. MIDC issued the recovery notice for the collection of the tax amount. Powerica clarified that no aberrations or non-compliances were identified by the authority in the communication, and no penalties or sanctions have been imposed.

The company is currently evaluating the notice and is in the process of deciding an appropriate course of action. The management affirmed that the details provided in the filing are true, correct, and complete to the best of their knowledge and belief.

Details of the Demand Notice

Powerica Limited reported its audited financial results for the quarter and year ended March 31, 2026, on May 28, 2026. The company achieved its highest-ever annual performance with revenue crossing the ₹3,000 crore mark, driven by steady execution and healthy demand across its Generator Set and Wind Power businesses. This disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has published the extract of these audited financial results in the Financial Express and Navshakti newspapers on May 30, 2026, pursuant to Regulation 30 read with Regulation 47 of the SEBI (LODR) Regulations, 2015.

For the full year FY26, revenue from operations stood at ₹3,011.52 crore, a 13.5% increase from ₹2,653.27 crore in FY25. Profit After Tax (PAT) surged 61% to ₹277.31 crore from ₹172.19 crore in the previous year. Reported EBITDA for FY26 was ₹386.32 crore, up 11.8% year-on-year, with an EBITDA margin of 12.8%. The company noted that the lower tax expense in FY26 was due to a deferred tax credit of ₹51.03 crore following the adoption of the new tax regime.

Consolidated Financial Highlights

The table below presents a detailed comparison of Powerica's consolidated financial performance for Q4FY26 and the full year FY26 against the corresponding prior periods.

In Q4FY26, revenue grew by 10.9% year-on-year to ₹801.15 crore. Reported EBITDA for the quarter increased 20.2% to ₹86.22 crore, while PAT rose 20.4% to ₹45.11 crore. The Gross Profit margin for Q4FY26 improved to 30.7% from 26.9% in the corresponding period of the previous year.

Operational Performance

The Generator Set segment contributed 83.1% of total revenues in FY26, registering a year-on-year growth of 10.9% with an EBITDA margin of 9.1%. Within this segment, DG sets powered by Cummins Engines contributed 65.5%, while MSLG in association with Hyundai contributed 5.1%.

The Wind Power segment contributed 16.9% of total revenues, growing 28.6% year-on-year with an EBITDA margin of 31.3%. The Independent Power Producer (IPP) business contributed 6.7%, while EPC and O&M for Balance of Plant (BoP) contributed 10.1%.

Mr. Bharat Oberoi, Chairman and Managing Director, attributed the record performance to diversified business portfolios and structural megatrends such as increasing electrification and data centre investments. He noted that while geopolitical uncertainties and supply chain pressures may impact near-term demand, the company is targeting double-digit topline growth in FY27.

Board Approvals

The Board of Directors approved the incorporation and investment in two wholly owned subsidiaries, Whisperwind Renewable Private Limited and Windfusion Renewable Private Limited, under the provisions of the Companies Act, 2013. Both entities will operate in the renewable energy sector. Additionally, the Board appointed M/s. DMKH & Co., Chartered Accountants as the internal auditor for the financial year 2026-27 and reconstituted the Audit Committee, appointing Mr. Udaya Jena as Chairman.