Reliance Power reported a consolidated net profit of ₹6,471 lakh (₹647.1 million) for the quarter ended June 30, 2026 (Q1FY27), marking a 45% year-on-year increase from ₹4,468 lakh in the corresponding period of FY26. The improvement was driven by higher revenue from operations, which rose 3.8% to ₹19,563.2 lakh, offsetting a slight decline in EBITDA. The Board of Directors approved the unaudited financial results on August 06, 2026, alongside disclosures regarding ongoing legal proceedings and subsidiary defaults.

Financial Performance Overview

The company’s top-line growth was supported by increased generation activity, although operating margins faced pressure due to rising fuel costs. Consolidated revenue from operations stood at ₹19,563.2 lakh, compared to ₹18,855.8 lakh in Q1FY26. Other income contributed ₹1,474.3 lakh, bringing total income to ₹21,037.5 lakh.

Despite the revenue uptick, EBITDA declined marginally to ₹5,620 lakh from ₹5,650 lakh in the previous year, resulting in an EBITDA margin contraction to 28.75% from 29.97%. This indicates that cost increases, particularly in fuel consumption which rose to ₹10,319.2 lakh from ₹9,357.3 lakh, outpaced revenue growth.

Standalone Results and Subsidiary Issues

On a standalone basis, Reliance Power recorded a profit before tax of ₹320 lakh, up from ₹190 lakh in Q1FY26. Standalone revenue was minimal at ₹20 lakh, reflecting the holding company structure where most operations are conducted through subsidiaries.

The filing highlighted significant challenges at key subsidiaries. Rajasthan Sun Technique Energy Private Limited (RSTEPL) defaulted on borrowings aggregating ₹2,29,561 lakh and incurred a net loss of ₹3,573 lakh in the quarter. Similarly, Samalkot Power Limited (SMPL) defaulted on ₹1,84,196 lakh in borrowings. A lender for SMPL invoked a corporate guarantee against the parent company and initiated the Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code, 2016. SMPL has initiated arbitration against its lender and Citibank N.A., though the London Court of International Arbitration ruled it lacked jurisdiction over SMPL’s claim, leading SMPL to withdraw its arbitration under marketing agreements.

Regulatory and Legal Developments

The company faces multiple regulatory investigations. The Enforcement Directorate (ED) has attached certain assets under the Prevention of Money Laundering Act, 2002, including receivables from Sasan Power Limited and Reliance CleanGen Limited. Additionally, the Central Bureau of Investigation (CBI) conducted search and seizure operations at the registered offices of Reliance Power and Reliance Cleangen Limited concerning transactions with Reliance Commercial Finance Limited and Reliance Home Finance Limited.

Pathak H.D. & Associates LLP, the statutory auditors, qualified their review reports for RSTEPL, SMPL, and Dhursar Solar Power Private Limited (DSPPL) due to material uncertainties regarding going concern assumptions and lack of sufficient audit evidence for asset valuations and receivable recoveries. Despite these qualifications, management maintains that the group can meet liabilities through ordinary business operations and time-bound asset monetization.

Reliance Power will hold its 32nd Annual General Meeting (AGM) on Friday, August 14, 2026, at 12:00 Noon IST via video conferencing. The meeting allows shareholders to transact business as outlined in the notice, with remote e-voting available from August 10 to August 13, 2026. This update ensures all members, including those without registered email addresses, have access to the Annual Report for the financial year 2025-26 in compliance with SEBI regulations.

The company has issued a disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, confirming that the AGM notice and Annual Report are being sent electronically to members with registered emails. For members whose email addresses are not registered with the company, KFin Technologies Limited (the registrar and transfer agent), or depositories, Reliance Power is providing web links and QR codes as mandated by Regulation 36(1)(b) of the Listing Regulations.

Remote e-voting facilities will be accessible from 10:00 A.M. on Monday, August 10, 2026, until 5:00 P.M. on Thursday, August 13, 2026. Members who vote remotely before the AGM may attend the meeting but cannot vote again. E-voting will also be available during the meeting for those who have not voted earlier. The record date for determining voting eligibility is Friday, August 7, 2026.

Shareholders can access the Annual Report and AGM notice via the company’s website, BSE Limited, National Stock Exchange of India Limited, and KFin Technologies Limited. The specific path on the Reliance Power website is Investor Information > Disclosure under Reg 46 of LODR > Financials > Annual Report > Annual Report 2025-2026. A QR code is also provided in the communication for direct access.

Compliance and Shareholder Actions

Reliance Power encourages members to register or update their email IDs with depository participants, KFin Technologies Limited, or the company to receive future communications electronically. Members holding shares in physical form are advised to dematerialize their holdings to comply with SEBI guidelines and facilitate safer transactions. Additionally, members with outdated PAN, KYC, or nomination details are requested to submit relevant ISR Forms to KFin Technologies Limited via email or physical mail to ensure their records are current.

Queries regarding e-voting can be directed to reliancepower.investors@reliancegroupindia.com or evoting@kfintech.com . The company’s Company Secretary, Ramandeep Kaur, has signed the disclosure letter dated July 23, 2026.