Premier Energy & Infrastructure Limited held its 34th Annual General Meeting on September 28, 2026. The company reported no adverse observations in the statutory and secretarial auditor reports for the fiscal year ended March 31, 2026.

The meeting was conducted via Video Conferencing/Other Audio-Visual Means (VC/OAVM) in compliance with Ministry of Corporate Affairs and SEBI circulars. Chairman and Managing Director Narayanamurthi Mankal chaired the session, which commenced at 12:00 noon IST.

Key resolutions passed

Shareholders approved the adoption of both standalone and consolidated audited financial statements for FY26. Additionally, the board’s proposal to re-appoint Ms. Ravikumar Amurthavalli as a director liable to retire by rotation was ratified through electronic voting.

Meeting proceedings and governance

Ms. Srinidhi Sridharan of M/s. Srinidhi Sridharan & Associates served as the scrutinizer for remote e-voting and electronic voting. The company ensured transparency by displaying consolidated voting results on its website and the Central Depository Services (India) Limited platform. The meeting concluded at 12:22 pm after the completion of voting procedures.

Premier Energy & Infrastructure has scheduled its 34th Annual General Meeting (AGM) for Monday, September 28, 2026. The meeting will be held via video conference to adopt the financial statements for the fiscal year ended March 31, 2026.

Financial Performance

The company reported a significant decline in profitability during FY26. Consolidated net profit fell to a loss of ₹109.00 lakh, compared to a profit of ₹20.60 lakh in the previous year. Standalone results mirrored this trend, with a net loss of ₹53.04 lakh against a profit of ₹73.19 lakh in FY25.

Revenue also contracted sharply. Gross income dropped to ₹10.36 lakh from ₹216.05 lakh in the prior year. This decline was driven by a reduction in other income, specifically interest received and profits on the sale of investments.

What the Numbers Show

The widening loss occurred despite a substantial decrease in operating expenses. Other expenses fell to ₹68.88 lakh from ₹154.06 lakh in FY25, and finance costs reduced to ₹6.09 lakh from ₹16.59 lakh. However, these savings were insufficient to offset the drastic collapse in income generation, which fell by over 95%. The primary driver of the current year's loss is the near-total absence of revenue streams that contributed significantly in the prior year.

Corporate Developments

During the year, the company entered into a Memorandum of Understanding (MOU) with Dismutase Biotech Private Limited regarding a project to extract proteins from blood plasma. Management indicated plans for inorganic growth through mergers or acquisitions in the future.

The Board has not recommended any dividend for FY26. Additionally, the company increased its authorized share capital to ₹50 crore at the previous AGM held on August 21, 2025, to facilitate future funding requirements.

Subsidiary Updates

As of March 31, 2026, the company had two subsidiaries: RCI Power Limited and RCI Power (AP) Limited. Both subsidiaries reported nil sales and incurred losses during the year. Two step-down subsidiaries, RCI Windfarm 30 MW Private Limited and RCI Windfarm 50 MW Private Limited, were struck off from the Registrar of Companies records in February 2026.