Sterling & Wilson Renewable Energy Limited shareholders approved the audited financial statements for the financial year ended March 31, 2026, at its 9th Annual General Meeting held on July 02, 2026. The meeting, conducted via video conferencing, saw the adoption of standalone and consolidated financial statements with 99.95% of valid votes cast in favour. The company also secured approval for the waiver of excess remuneration paid to Mr. Chandra Kishore Thakur, Manager and Global CEO, for FY26 through a special resolution.

The statutory auditors, M/s. Kalyaniwalla & Mistry LLP and M/s. Deloitte Haskins & Sells LLP, confirmed there were no qualifications or adverse comments in their reports. Mr. Mannish L. Ghia of M/s. Manish Ghia & Associates served as the Scrutinizer for the e-voting process, which was conducted through the National Securities Depository Limited platform. The remote e-voting period commenced on June 29, 2026, and concluded on July 01, 2026.

Resolutions Passed

All five resolutions were passed with the requisite majority. The business transacted included the adoption of financial statements, appointment of directors, and approval of related party transactions.

Voting Details

The total number of shareholders on the record date of June 25, 2026, was 338,299. Promoters and the promoter group held 106,779,749 shares, while public institutions held 22,609,045 shares. For the resolution on financial statements, 124,842,291 votes were cast in favour and 61,683 against. The special resolution regarding remuneration waiver received 124,829,648 votes in favour and 74,226 against.

Mr. Khurshed Yazdi Daruvala, Chairperson, declared the results of the remote e-voting and e-voting conducted during the AGM. The scrutinizer's report confirmed that the number of votes cast in favour for the special resolution was more than three times the number of votes cast against, satisfying the regulatory requirement.

Sterling & Wilson Renewable Energy has appointed William Buck Audit (WA) Pty Ltd as the new auditor for its material subsidiary, Sterling and Wilson Solar Australia Pty Ltd, effective July 01, 2026. This appointment follows the resignation of the previous auditor, Moore Australia Audit (WA), due to a disagreement over audit fees. The change was disclosed to the stock exchanges pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Moore Australia Audit (WA) resigned citing an inability to reach an agreement with management on an appropriate audit fee that reflects the scope, complexity, and professional requirements of the engagement. The firm stated that the decision was made to ensure adequate resources could be applied to the engagement in line with professional obligations and quality requirements. The firm had been associated with the subsidiary since October 22, 2019, and submitted its latest audit report on April 13, 2026.

To fill the vacancy, the subsidiary appointed William Buck Audit (WA) Pty Ltd. The new auditor is described as a well-established and reputed firm with a presence in multiple locations across Australia and New Zealand. The firm offers services in audit, assurance, business advisory, restructuring, and tax services, and has access to more than 480 offices in over 70 countries.

Auditor Change Details