Swelect Energy Systems unit to invest $500,000 in US grid-storage firm

Swelect Energy Systems is set to enter the US grid-storage market through a strategic investment by its wholly-owned subsidiary. The Investment Committee of the Board of Directors approved a proposal on July 14, 2026, for Swelect Energy Systems Pte. Ltd. Singapore to invest up to US$ 500,000 in Class B Preferred Equity of Comstock BESS LLC.

The investment marks a significant step for the company as it seeks to expand its footprint in the energy storage sector. By acquiring Class B Preferred Equity in Comstock BESS LLC, the subsidiary aims to leverage opportunities within the US grid-storage market.

The approval was granted during a meeting of the Investment Committee held on July 14, 2026. The decision underscores the company's strategic intent to diversify its geographical presence and enhance its portfolio in the renewable energy storage domain.

Investment Details

The proposed investment involves the subscription to Class B Preferred Equity in Comstock BESS LLC. The financial commitment is capped at US$ 500,000, which will be funded by the Singapore-based subsidiary.

Particulars	Details
Investing Entity	Swelect Energy Systems Pte. Ltd. Singapore
Target Company	Comstock BESS LLC
Investment Type	Class B Preferred Equity
Investment Amount	Up to US$ 500,000
Strategic Objective	Entry into US grid-storage market

The move is expected to provide Swelect Energy Systems with a strategic foothold in the US market, specifically targeting the growing demand for grid-scale energy storage solutions. The company intends to make this information available on its official website.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.38%	-3.81%	-3.95%	+14.76%	-6.07%	+135.10%

Swelect Energy Systems has published the Notice of its 31st Annual General Meeting (AGM) in newspapers, complying with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notice was published in Business Line (English) and Dinamani (Tamil) on July 9, 2026. The AGM is scheduled for July 31, 2026, at 3.30 PM IST through Video Conferencing or Other Audio Visual Means.

Key AGM Dates

The company has established the following schedule for the meeting:

Parameter	Details
Date and Time of AGM	Friday, July 31, 2026 at 3.30 PM IST
Record Date	Friday, July 24, 2026
Book Closure Dates	Saturday, July 25, 2026 to Friday, July 31, 2026
Remote E-Voting Start	Tuesday, July 28, 2026, 9:00 AM IST
Remote E-Voting End	Thursday, July 30, 2026, 5:00 PM IST
Dividend Payment Date	Thursday, August 13, 2026

Financial Performance

The Annual Report for FY26 highlights a mixed financial performance. Standalone turnover declined 12.80% year-on-year to ₹37,613.21 Lakhs, while net profit surged 128.11% to ₹1,956.40 Lakhs. Consolidated turnover grew 5.70% to ₹65,712.33 Lakhs, with net profit jumping 311.96% to ₹5,758.31 Lakhs.

Metric	Standalone FY26	Standalone FY25	Consolidated FY26	Consolidated FY25
Revenue from Operations (₹ Lakhs)	37,613.21	43,134.11	65,712.33	62,167.11
Net Profit (₹ Lakhs)	1,956.40	857.66	5,758.31	1,397.80

Dividend and Related Party Transactions

The Board has recommended a final dividend of ₹3.50 per equity share for FY26, subject to shareholder approval. The notice also includes shareholder approval for material related party transactions worth ₹22,990 Lakhs with USolar Assetco Four Private Limited, ₹38,736 Lakhs involving SWELECT SolarKraft Pvt. Ltd. and Gridnex Solar Power Pvt. Ltd., and ₹39,012 Lakhs between the company and Gridnex Solar Power Private Limited.