Saatvik Green Energy Limited has strengthened its leadership team with strategic appointments to key managerial positions. The Board of Directors, following recommendations from the Nomination and Remuneration Committee, approved significant changes to the company's senior management structure during its meeting on April 23, 2026.

Key Leadership Appointments

Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company announced two critical appointments effective April 23, 2026:

Both positions are designated as Key Managerial Personnel roles within the organization. Mr. Mehtta's appointment as Interim CFO was specifically recommended by the Audit Committee.

Professional Backgrounds

Ms. Jyoti Verma is a Fellow Member of the Institute of Company Secretaries of India and Law Graduate with over 20 years of extensive experience in corporate laws, regulatory compliance, and corporate governance. She has worked primarily with large listed and group entities across manufacturing, FMCG, hospitality, logistics, and agro chemicals sectors.

Her expertise encompasses:

• SEBI Listing Regulations and Companies Act, 2013
• SEBI Regulations including Takeover Code, Buy-back, ESOP, ICDR, and Insider Trading
• FEMA-RBI frameworks
• Corporate structuring, mergers, demergers, acquisitions, and joint ventures
• CSR, ESG and BRSR reporting

Most recently, she served as Head – Legal, Company Secretary & Compliance Officer at EPACK Durable Limited, a listed entity with turnover exceeding ₹2,100 crore. Her previous leadership roles include positions with Lemon Tree Hotels Limited, KRBL Limited, Dhanuka Agritech Limited, BC Jindal Group, and Cosmo Group.

Mr. Rishabh Mehtta is a qualified Chartered Accountant with over ten years of professional experience and holds a CFA Charter. He has worked with the renowned Chartered Accountants firm, C. B. Chhajed & Co., where he independently handled statutory audits and tax audits of various listed entities, private companies, banks, and insurance companies. His expertise includes income tax matters, corporate affairs, and Virtual Chief Financial Officer services. He was also associated with the IPO listing team of Tara Jewels Ltd.

Organizational Changes

The Board also approved the transfer of Mr. Vaibhav Bhardwaj, Chief Operating Officer and Senior Management Personnel, to Saatvik Solar Industries Private Limited, a wholly owned subsidiary of the company. This change in role and responsibilities will result in Mr. Bhardwaj ceasing to be designated as Senior Management Personnel of Saatvik Green Energy Limited effective from the close of business hours on April 30, 2026.

Regulatory Compliance

The appointments were made in consonance with the recommendations of the Nomination and Remuneration Committee and comply with SEBI Master Circular requirements. The Board Meeting commenced at 02:30 p.m. and concluded at 05:00 p.m. on April 23, 2026. All relevant details have been disclosed to BSE Limited and National Stock Exchange of India Limited as required under the listing regulations.

Saatvik Green Energy Limited has announced the acquisition of an 80% equity stake in Melcon Transformers and Electricals Private Limited, a transformer manufacturing company based in Jaipur. The Share Purchase Agreement was executed on April 23, 2026, marking a strategic expansion into power equipment manufacturing for the solar energy company.

Acquisition Details

The transaction involves the purchase of 8,000 equity shares representing 80% of Melcon's equity share capital through cash consideration. The acquisition is expected to be completed within 30 days of the agreement.

Target Company Profile

Melcon Transformers and Electricals Private Limited was incorporated on February 2, 2005, and is registered with ROC Jaipur. The company operates in the transformers manufacturing industry with a subscribed capital of Rs. 1,00,000 divided into 10,000 equity shares of Rs. 10 each.

The company's financial performance over the last three years shows the following turnover figures:

Melcon specializes in manufacturing transformers ranging from 5 KVA to 12,500 KVA (up to 33 KV class), including oil-type, dry-type, auxiliary, and energy-efficient transformers. The company serves diverse industrial and utility requirements with a customer base including PSUs and private companies.

Strategic Rationale

The acquisition enables Saatvik Green Energy to diversify into transformer manufacturing and establish a strong presence in the power transmission equipment segment. This move represents a strategic step towards becoming a fully integrated energy solutions provider by bridging capabilities across generation, transmission, and execution.

The transaction is expected to unlock significant operational and market synergies with Saatvik's existing business operations. Key benefits include enhanced execution efficiency, greater control over key components and supply chains, and the ability to leverage combined capabilities and customer relationships.

Management Commentary

Prashant Mathur, CEO of Saatvik Green Energy Limited, emphasized the strategic importance of the acquisition in building a comprehensive energy ecosystem. He highlighted that transformers serve as a critical bridge between generation and consumption, and without robust transmission infrastructure, renewable capacity cannot translate into reliable power.

The acquisition aligns with Saatvik's evolution from a solar manufacturer to an integrated energy solutions player, positioning the company to actively shape and enable India's clean energy growth at scale. The move is expected to enhance supply chain control, improve quality assurance, and create a more resilient supply chain infrastructure.