Sharika Enterprises Limited has announced the appointment of Mr. Sanjay Verma as Chief Executive Officer, effective April 1, 2026. The company communicated this leadership transition through an official press release dated April 6, 2026, highlighting the strategic importance of this appointment in the current market environment.

Leadership Transition Details

The appointment represents a significant milestone for Sharika Enterprises as the company positions itself within India's evolving power sector landscape. Mr. Verma will assume the CEO role in addition to his current position as Executive Director, bringing continuity and deep institutional knowledge to the leadership transition.

Professional Background and Experience

Mr. Verma brings over three decades of comprehensive experience spanning power distribution, utility systems, and digital grid technologies. His career trajectory demonstrates expertise in both technical implementation and strategic market development within the power sector.

His notable professional experience includes:

• GE Energy: Served as SWAT Leader – Smart Grids (Greater India Region)
• Schneider Electric: Long tenure focusing on distribution automation technologies
• Advanced Systems Deployment: Experience with SCADA, ADMS, EMS, GIS, WFM, Demand Response Management Systems and smart metering systems
• Technology Partnerships: Collaborated with global partners including IBM, Accenture, Capgemini, TCS, and Tech Mahindra

Industry Engagement and Contributions

Throughout his career, Mr. Verma has maintained active engagement with key industry bodies and contributed to sector development through various initiatives. His involvement spans multiple organizations and international collaborations.

Industry Associations:

• FICCI (Federation of Indian Chambers of Commerce & Industry)
• CII (Confederation of Indian Industry)
• IEEE (Institute of Electrical and Electronics Engineers)
• IEEMA (Indian Electrical & Electronics Manufacturers' Association)

International Collaborations:

• World Bank supported projects
• ADB (Asian Development Bank) initiatives
• USAID programs

Strategic Market Positioning

The appointment comes at a time when India's power sector is experiencing significant transformation through grid modernization and digital infrastructure investments. Mr. Verma's extensive experience in smart grid technologies and utility automation positions him well to lead Sharika Enterprises through this evolving landscape.

Commenting on his appointment, Mr. Verma stated: "The power sector is entering a phase where digitalization, resilience, and flexibility of networks are becoming central. Sharika Enterprises is well positioned to contribute to this transition, and we will continue to focus on strengthening execution and partnerships across the value chain."

Future Outlook

The company's Board has noted that this appointment comes at a pivotal time for the sector, where convergence of power systems with digital technologies is reshaping utility operations. With this leadership change, Sharika Enterprises is expected to further deepen its engagement in smart grid deployments and digital infrastructure projects as utilities move toward more intelligent, automated, and integrated networks.

Sharika enterprises Limited has secured a significant work order from Punjab Energy Development Agency worth Rs. 28,36,130 for LED street lighting systems. The company announced this development through a regulatory filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Contract Details

The work order involves the supply, installation and commissioning of 12-watt LED based SPV street lighting systems across the State of Punjab. Punjab Energy Development Agency, which is a Punjab Government Undertaking, has awarded this domestic contract to the company.

Regulatory Compliance

The company has fulfilled its disclosure obligations as required under SEBI Listing Regulations and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. The regulatory filing confirms that this contract does not fall within related party transactions.

Key Contract Terms

The contract specifications indicate that the company will be responsible for the complete implementation of the LED street lighting project, including supply, installation and commissioning activities. The 119-day execution timeline suggests a structured approach to project delivery across Punjab.

Company Information

Sharika Enterprises Limited operates from C-504, ATS Bouquet, Sector 132, Noida 201305, with Company Secretary & Compliance Officer Pushpa Yadav signing the regulatory disclosure. The company maintains its corporate website at www.sharikaindia.com and can be contacted at +91 0120 4162100.