Promax power Limited has issued a formal clarification to BSE Limited addressing concerns about recent movements in the company's share price. The response, dated April 02, 2026, was submitted following BSE's request for clarification on price movement dated April 1, 2026.

Company's Official Response

The company has categorically stated that all material information bearing on its operations and performance has been disclosed in accordance with regulatory requirements. This includes all price-sensitive information mandated under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Clarifications Provided

The management has made several important clarifications regarding the price movement:

• All material information has been disclosed within stipulated timeframes
• No pending information or announcements exist that could affect share price behavior
• The company will continue making applicable disclosures as required
• Price movements are attributed to market conditions and are market-driven
• Management has no connection with the share price movements

Regulatory Compliance Statement

Promax Power Limited emphasized its commitment to regulatory compliance, stating that the company has consistently disclosed all price-sensitive information under the SEBI Listing Regulations within the required timeframes. The company assured that it will continue to make all applicable disclosures going forward.

Market Attribution

The company's management has clearly attributed the share price movements to prevailing market conditions, distancing itself from any direct influence on the stock's performance. This clarification aims to address any speculation about undisclosed corporate developments that might have influenced trading activity.

The response was digitally signed by Director Shweta Bharadwaj on April 02, 2026, at 12:15:01 +05'30', ensuring the authenticity and official nature of the communication to the stock exchange.

Promax Power Limited has secured a significant solar power project contract from Hubli Electricity Supply Company Limited (HESCOM), a Government of Karnataka undertaking. The Letter of Award, dated January 7, 2026, marks a strategic milestone for the company as it ventures into the power generation segment.

Project Overview and Financial Details

The awarded project involves setting up a 6.0 MW (AC) grid-connected solar power project under the Build, Own and Operate (BOO)/RESCO model. The contract spans 25 years from the Commercial Operation Date, with an estimated value of ₹70-75 crore over the entire contract period.

Contract Terms and Structure

The project operates on a revenue model where Promax Power will receive ₹2.97 per unit of electricity generated, inclusive of all taxes. The total contract consideration of ₹70-75 crore is calculated on an interim basis and remains subject to actual power generation over the 25-year period.

Key operational aspects of the agreement include:

• Grid-connected solar power generation facility
• Long-term power purchase agreement with HESCOM
• Performance-based revenue tied to actual electricity generation
• Complete project ownership and operation responsibility

Strategic Significance

This award represents Promax Power's entry into the power generation segment, diversifying from its core business of turnkey transmission and distribution projects. The company's existing expertise includes EPC services, substations, transmission lines, transformers, and water treatment plants.

The solar project aligns with India's renewable energy objectives while providing Promax Power with a stable, long-term revenue stream. The 25-year contract duration offers predictable cash flows and strengthens the company's position in the renewable energy sector.

Regulatory Compliance

Promax Power disclosed this development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that no promoter, promoter group, or group companies have any interest in HESCOM, and the contract does not constitute a related party transaction.

The successful award from a government undertaking demonstrates Promax Power's capability to secure projects from established public sector entities, potentially opening doors for similar opportunities in the renewable energy space.