Rajesh Power Services Limited reported consolidated revenue from operations of ₹1,627.94 crore for FY 2025-26, a growth of 51.85% year-on-year, with EBITDA rising 59.14% to ₹197.16 crore.

The Board of Directors, at its meeting held on September 3, 2026, also approved several governance actions: the appointment of Mr. Chetash Mehta as an Additional Non-Executive Independent Director, reconstitution of board committees, a change in designation of Mr. Kurang Ramchandra Panchal from Managing Director to Chairman and Managing Director, and the notice for the 17th Annual General Meeting scheduled for September 24, 2026.

FY 2025-26 Financial Performance

The company's consolidated financial results for FY 2025-26 reflect broad-based growth across revenue, profitability, and returns metrics.

Standalone Profit After Tax for FY 2025-26 stood at ₹137.53 crore, up 58.32% from ₹86.87 crore in the previous year. Consolidated PAT grew 48.19% from ₹96.63 crore to ₹143.20 crore.

Key Performance Indicators

FY23 and FY24 figures are on standalone basis. FY25 figures are on consolidated basis.

Board Actions on September 3, 2026

The board meeting held on September 3, 2026 (12:30 p.m. to 6:40 p.m.) approved the following:

• Appointment of Mr. Chetash Mehta (DIN: 11907238) as Additional Non-Executive Independent Director for a first term of five consecutive years effective September 3, 2026, subject to member approval at the ensuing AGM. Mr. Mehta is a banking professional with 15 years of experience at HDFC Bank, having served as Branch Manager in Ahmedabad for a decade.
• Reconstitution of board committees with effect from September 3, 2026.
• Change in designation of Mr. Kurang Ramchandra Panchal (DIN: 00773528) from Managing Director to Chairman and Managing Director for a period of five years effective September 3, 2026, subject to member approval.
• 17th Annual General Meeting notice for September 24, 2026 at 11:00 a.m. IST via Video Conferencing.

Reconstituted Committee Composition

Nomination and Remuneration Committee

Stakeholder Relationship Committee

Corporate Social Responsibility Committee

Order Book and Business Highlights

The unexecuted consolidated order book including L1 positions stood at ₹3,326 crore as of March 31, 2026, providing multi-year revenue visibility. Order inflow for FY26 was ₹2,743 crore. Bids awaiting result stood at ₹2,200 crore and the bid pipeline at ₹3,500 crore as of March 31, 2026.

During FY 2025-26, the company entered the Battery Energy Storage System (BESS) segment, securing its first BESS contract — a 65 MW / 130 MWh project in Gujarat with Gujarat Urja Vikas Nigam Limited (GUVNL) under a 12-year Battery Energy Storage Purchase Agreement (BESPA) at a contracted tariff of ₹1.89 lakh per MW per month. The company also secured turnkey orders from UGVCL valued at approximately ₹922 crore for underground cable and MVCC conversion projects, and entered the 400 kV GIS segment through orders valued at approximately ₹278 crore.

Dividend and Credit Rating

The Board of Directors recommended a final dividend of ₹1 per equity share of face value ₹10 each (10%) for FY 2025-26, subject to shareholder approval at the 17th AGM. The total dividend payout amounts to ₹1,80,07,392 on 1,80,07,392 equity shares.

During the year, CRISIL upgraded the company's long-term rating to Crisil A- / Stable (from Crisil BBB+ / Positive) and short-term rating to Crisil A2+ (from Crisil A2). The company's net worth stood at ₹406.17 crore as of March 31, 2026.

17th AGM Details

The 17th Annual General Meeting will be held on Thursday, September 24, 2026 at 11:00 a.m. IST via Video Conferencing. The e-voting period runs from September 21, 2026 at 9:00 a.m. to September 23, 2026 at 5:00 p.m. The cut-off date for determining eligible shareholders is Friday, September 18, 2026.

Rajesh Power Services has incorporated a 100% wholly owned foreign subsidiary, Rajesh Power Services NZ Limited, in New Zealand. The company received confirmation of the incorporation on August 14, 2026, marking its entry into the overseas market for power infrastructure services.

The new entity will focus on electrical and solar engineering, procurement, and construction (EPC) projects within the power transmission and distribution industry. This expansion aligns with the parent company’s core business lines, extending its operational footprint to the New Zealand market.

Transaction Details

Rajesh Power Services acquired 100% control of the subsidiary through a cash subscription to its share capital. The cost of acquisition corresponds to the initial share capital subscribed as per the incorporation documents. As a newly formed entity, Rajesh Power Services NZ Limited reported nil turnover, with no business operations having commenced yet.

Regulatory Disclosures

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, read with Para A of Part A of Schedule III and SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

The transaction is classified as a related party transaction due to the holding-subsidiary relationship. However, the promoters and promoter group hold no direct interest in the entity beyond their shareholding in Rajesh Power Services Ltd. No governmental or regulatory approvals are required for this incorporation.