Reliance Infrastructure Limited has dispatched its Annual Report for the financial year 2025-26 (FY26) along with the notice for its 97th Annual General Meeting (AGM), scheduled for Friday, August 14, 2026, at 10:00 A.M. IST via Video Conferencing (VC) or Other Audio Visual Means (OAVM). The Annual Report and AGM notice were sent electronically on July 23, 2026, to members with registered email addresses. Shareholders without registered email IDs have been sent a physical letter containing web links and a QR code to access the documents, in compliance with Regulation 36(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Meeting and E-Voting Details

The company has engaged KFin Technologies Limited (KFintech) as the authorised agency for conducting the AGM and providing the e-voting facility. Remote e-voting is available from August 10, 2026, at 10:00 A.M. IST to August 13, 2026, at 5:00 P.M. IST. Members who vote remotely may attend the AGM but cannot vote again during the meeting.

The Annual Report is available on the company's website at www.rinfra.com , on the BSE Limited and National Stock Exchange of India Limited websites, and on the KFin Technologies website at www.kfintech.com .

AGM Agenda and Key Resolutions

The 97th AGM will transact both ordinary and special business. Key agenda items include adoption of audited standalone and consolidated financial statements for the year ended March 31, 2026, re-appointment of Shri Rajesh Kumar Dhingra (DIN: 03612092) as a director retiring by rotation, and appointment of statutory auditors. The AGM will also consider the appointment of M/s. Vijay S. Tiwari & Associates as Secretarial Auditors for five consecutive years from April 1, 2026 to March 31, 2031, ratification of remuneration of ₹36,000 to M/s. Talati & Associates as Cost Auditors for the financial year ending March 31, 2027, and a special resolution for issue of securities through Qualified Institutions Placement (QIP).

Financial Performance

The company's total consolidated income, including regulatory income, for the financial year ended March 31, 2026 was ₹25,826 crore (USD 2.73 billion), compared to ₹30,425 crore (USD 3.56 billion) in the previous financial year. Earnings from sale of electrical energy stood at ₹23,254 crore (USD 2.46 billion), against ₹28,121 crore (USD 3.29 billion) in the previous year. Interest expenditure decreased to ₹1,660 crore (USD 175 million) from ₹1,784 crore (USD 208 million). Capital expenditure during the year was ₹1,819 crore (USD 192 million), primarily directed at modernising and strengthening the transmission and distribution network and road projects. The consolidated net worth stood at ₹17,876 crore (USD 1.89 billion), and total Plant, Property and Equipment reached ₹10,177 crore (USD 1.07 billion). On a standalone basis, the company reported turnover of ₹418.70 crore and net worth of ₹24,231.36 crore. The standalone net loss for the year after tax was ₹607.20 crore.

Business Operations and Key Developments

Reliance Infrastructure is a diversified infrastructure company with capabilities across Engineering & Construction (E&C), power utilities, metro rail, and emerging segments such as defence and renewable energy. Its material subsidiaries, BSES Rajdhani Power Limited (BRPL) and BSES Yamuna Power Limited (BYPL), reported aggregate income of ₹18,534.85 crore for FY 2025-26, compared to ₹22,017.01 crore in the previous year. Capital expenditure by the Delhi Discoms stood at ₹1,579 crore, with aggregate net block including Capital Work in Progress reaching ₹9,474 crore. The E&C Division has a pending order book of ₹363.25 crore (USD 38 million).

During the year, the company granted 51,20,312 stock options to eligible employees under the Reliance Infrastructure Employee Stock Option Scheme 2024. The company also issued and allotted 1.25 crore equity shares upon conversion of warrants, while 11.31 crore warrants subsequently lapsed due to non-conversion within the stipulated 18-month period. The company incorporated a wholly owned foreign subsidiary, SB Holding L.L.C-FZ, in Dubai during the year.

Auditor Change and Regulatory Matters

M/s. Chaturvedi & Shah LLP resigned as Statutory Auditors effective May 23, 2026, after completing the audit for FY 2025-26, having filed Form ADT-4 under Section 143(12) of the Companies Act, 2013. The Board appointed M/s. Paresh Rakesh & Associates LLP (Firm Registration No. 119728W/W100743) to fill the casual vacancy and has proposed their appointment for a term of five consecutive years from the conclusion of the 97th AGM until the conclusion of the 102nd AGM. The proposed annual statutory audit fee is ₹85 lakhs, excluding applicable taxes. The statutory auditors issued a Disclaimer of Opinion on the standalone and consolidated financial statements, citing uncertainty over the recovery of economic rights in Odisha Discoms aggregating to ₹4,705.74 crore and ongoing proceedings by the Enforcement Directorate, SEBI, and SFIO. The company has taken appropriate legal steps to protect its interests and continues to cooperate with concerned authorities.

Document Access and Shareholder Information

Members are encouraged to register or update their email IDs with Depository Participants, KFintech, or the company to receive all communications electronically. Shareholders holding shares in physical form are requested to consider dematerialisation of their holdings. Members with folios lacking updated PAN, KYC details, or nomination choices are urged to submit the relevant ISR Forms to KFintech via email at einward.ris@kfintech.com or by post to its Hyderabad office. The Board has not recommended any dividend on equity shares for FY 2025-26.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE036A01016/42fe7a65c03d4357.pdf

Reliance Infrastructure Limited submitted its Business Responsibility and Sustainability Report (BRSR) for the financial year 2025-26 on July 23, 2026, pursuant to Regulation 34(2)(f) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing reveals robust operational performance across its core segments, with defence exports reaching ₹360 crore in FY26 and Mumbai Metro One Private Limited (MMOPL) serving over 1,200 million passengers as of March 31, 2026. These figures underscore the company’s expanding footprint in high-growth infrastructure and aerospace sectors, while maintaining its dominant position in urban mobility.

The report, filed with both the Bombay Stock Exchange and the National Stock Exchange of India Limited, outlines the company’s consolidated performance. Reliance Infrastructure operates through a diverse portfolio including power distribution, metro rail, toll roads, engineering & construction (E&C), and defence. The company’s paid-up capital stands at ₹408.63 crore. The BRSR was signed by Paresh Rathod, Company Secretary & Compliance Officer, and is available on the company’s website at www.rinfra.com .

Operational Highlights by Segment

The defence business emerged as a key growth driver, with exports totaling ₹360 crore in FY26. Through its joint venture Dassault Reliance Aerospace Limited (DRAL), the company manufactured aerostructures for Falcon and Rafale platforms, delivering over 1,241 assemblies. An opportunity pipeline of approximately ₹2,300 crore spans domestic and export markets. Thales Reliance Defence Systems (TRDS) contributed by assembling AESA radars and electronic warfare suites, while also pioneering the indigenisation of critical radar components. The company also designed new-generation 155 mm artillery shells in collaboration with the Armament Research and Development Establishment (ARDE).

In the metro segment, MMOPL reported that daily ridership has exceeded pre-pandemic levels, driven by improved accessibility and integration with expanding metro lines including Line 2A, Line 7, Line 3, Line 2B, and Line 9. The power distribution business, through BSES Rajdhani Power Limited (BRPL) and BSES Yamuna Power Limited (BYPL), supplies electricity to approximately 5.46 million consumers in Delhi. The toll road business operates 10 toll plazas across six roads in Maharashtra and Tamil Nadu.

Sustainability and Governance

Reliance Infrastructure disclosed that its policies align with the National Guidelines on Responsible Business Conduct (NGRBC) and international standards including ISO 9001, ISO 14001, and ISO 45001. The Corporate Social Responsibility and Sustainability Committee, chaired by Ms. Chhaya Virani, oversees these initiatives. The company achieved its Performance, Achieve and Trade (PAT) Scheme targets, with BRPL achieving a Transmission & Distribution (T&D) loss of 6.62% against a target of 8.08% for FY24-25, earning 16,697 Energy Saving Certificates. BYPL achieved a T&D loss of 6.57% against a target of 9.02%.

Environmental initiatives include the commissioning of an SF₆-free substation by BRPL and the installation of SF₆-free Ring Main Units by BYPL to reduce greenhouse gas emissions. The company also emphasized waste management practices, including recycling transformer oil and metals, and adhering to hazardous waste disposal regulations under the Delhi Pollution Control Committee.

What the Numbers Show

The concentration of turnover in the power distribution business, which accounts for 91.53% of total turnover, highlights the company’s reliance on this regulated utility segment for revenue stability. However, the rapid growth in defence exports (₹360 crore) and the massive passenger volume in the metro segment (over 1,200 million) indicate a strategic diversification away from pure utility dependence. The achievement of PAT targets well below prescribed T&D loss norms suggests efficient operational management in the power segment, potentially freeing up capital for higher-margin ventures like defence and E&C.