Promax Power FY26 net profit falls 63.4% to ₹85.67 lakh

Promax Power Limited reported a 63.4% decline in net profit to ₹85.67 lakh for the financial year ended March 31, 2026, down from ₹234.26 lakh in the previous year. Revenue from operations increased 6.5% to ₹7,073.12 lakh from ₹6,642.18 lakh in FY25. The Board of Directors approved the audited standalone financial results at a meeting held on May 30, 2026.

The company's total expenses for the year rose to ₹7,012.62 lakh from ₹6,368.04 lakh in the prior year, primarily driven by higher finance costs, which increased to ₹249.24 lakh from ₹183.69 lakh. Profit before tax stood at ₹109.73 lakh, a significant decrease from ₹312.80 lakh in FY25. The statutory auditor, Manish Jain & Associates, issued an unmodified opinion on the financial results.

Financial Performance for FY26

Particulars	FY26 (₹ in Lakhs)	FY25 (₹ in Lakhs)
Revenue from Operations	7,073.12	6,642.18
Total Revenue	7,122.35	6,680.84
Total Expenses	7,012.62	6,368.04
Profit Before Tax	109.73	312.80
Net Profit	85.67	234.26
Basic EPS (₹)	0.34	0.94

The balance sheet as of March 31, 2026, shows total assets of ₹6,609.26 lakh, a slight decrease from ₹6,679.19 lakh in the previous year. Shareholders' equity improved marginally to ₹3,090.40 lakh from ₹3,004.73 lakh. The company reported cash and cash equivalents of ₹580.19 lakh, down from ₹717.00 lakh at the end of FY25.

Key Financial Ratios and Disclosures

The company reported total financial indebtedness of ₹2,989.90 lakh, comprising long-term borrowings of ₹406.97 lakh and short-term liabilities of ₹2,582.93 lakh. Promax Power confirmed there are no outstanding defaults on loans or debt securities as of the reporting date. The trading window for designated persons will remain closed until 48 hours after the declaration of the results.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
0.0%	0.0%	-22.78%	-39.83%	-59.19%	+140.48%

Promax Power Limited has successfully concluded its postal ballot process, with shareholders approving the appointment of a new Statutory Auditor through remote e-voting. The voting window closed on May 09, 2026, and the scrutinizer's report was submitted on May 11, 2026, confirming that the resolution was passed with requisite majority. In furtherance to its earlier communication, the Company has also filed a disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, formally intimating the appointment of M/s. Manish Jain & Associates, Chartered Accountants as Statutory Auditors effective May 9, 2026.

Appointment of New Statutory Auditors

The sole resolution put to members via the Postal Ballot Notice dated April 09, 2026 pertained to filling a casual vacancy in the position of Statutory Auditor. The vacancy arose following the resignation of M/s Raj Gupta & Co., Chartered Accountants (FRN: 000203N). Members were asked to approve the appointment of M/s. Manish Jain & Associates, Chartered Accountants (FRN: 015608N and Peer Review Certificate No. 020482) as the incoming Statutory Auditors of the Company. The Board, on the recommendation of the Audit Committee and subject to shareholder approval, proposed the appointment to fill the casual vacancy. M/s. Manish Jain & Associates is a partnership firm with expertise in Auditing, Finance, Legal, Taxation, Assurance, and Regulatory services.

The key details of the resolution and appointment are summarised below:

Parameter:	Details
Resolution Type:	Ordinary Resolution
Incoming Auditor:	M/s. Manish Jain & Associates, Chartered Accountants
FRN (Incoming):	015608N
Peer Review Certificate No.:	020482
Outgoing Auditor:	M/s Raj Gupta & Co., Chartered Accountants
FRN (Outgoing):	000203N
Reason for Vacancy:	Resignation of outgoing auditor
Appointment Effective Date:	May 9, 2026
Tenure:	Till the conclusion of the ensuing Annual General Meeting
Postal Ballot Notice Date:	April 09, 2026
Cut-off Date:	April 03, 2026
E-voting Start:	9:00 a.m. (IST), April 10, 2026
E-voting End:	5:00 p.m. (IST), May 09, 2026

Voting Results

The e-voting process was facilitated through the platform provided by National Securities Depository Limited (NSDL). The Postal Ballot Notice was dispatched on April 09, 2026 via e-mail to 353 members who had registered their email IDs with the Company, Depositories, Depository Participants, or Registrar and Share Transfer Agents, based on the register of members as on the cut-off date of April 03, 2026. The total number of shareholders on the record date stood at 367.

The category-wise voting results for Resolution No. 1 are presented below:

Category:	Mode of Voting	No. of Shares Held	No. of Votes Polled	% of Votes Polled	Votes in Favour	Votes Against	% in Favour	% Against
Promoter and Promoter Group:	E-Voting	17242420	17239900	99.98	17239900	0	100%	0%
Promoter and Promoter Group:	Poll	—	0	0	0	0	0	0
Public – Institutions:	E-Voting	—	—	—	—	—	—	—
Public – Non-Institutions:	E-Voting	7757580	20000	0.25	20000	0	100%	0
Public – Non-Institutions:	Poll	—	0	0	0	0	0	0

The consolidated scrutinizer's report further confirmed the following outcome for the resolution:

Particulars:	Number of Valid Voters (via e-voting)	Number of Valid Votes (via e-voting)	Percentage (%)
Assent:	8	1,72,59,900	100.00
Dissent:	0	0	0.00
Total:	8	1,72,59,900	100.00

Scrutinizer's Report and Confirmation

Mrs. Prachi J Lad, proprietor of M/s. Prachi Lad & Associates, Company Secretaries (Mem. No. F13079, CP No. 23015), was appointed as the Scrutinizer for the postal ballot. Upon scrutiny of the votes cast file downloaded from NSDL, the Scrutinizer confirmed that all votes cast by members were valid. The report, submitted on May 11, 2026, declared that the Ordinary Resolution contained in the Postal Ballot Notice had been passed with requisite majority. The report was acknowledged and received by Vishal Bhardwaj, Managing Director (DIN: 03133388), on behalf of Promax Power Limited, from Chandigarh on May 11, 2026. The Regulation 30 disclosure was also signed and filed by Vishal Bhardwaj on May 11, 2026, formally placing the appointment on record with BSE Limited.