Torrent Power Limited shareholders have unanimously approved a significant enhancement in the company’s borrowing capacity to ₹35,000 crore, providing the financial flexibility required for its capital-intensive expansion strategy. The special resolution was passed at the 22nd Annual General Meeting (AGM) held on August 3, 2026, via Video Conferencing / Other Audio Visual Means. Alongside this strategic financial move, members also approved the re-appointment of four directors and confirmed the final dividend payout for the fiscal year ended March 31, 2026.

The AGM commenced at 09:30 am and concluded at 10:19 am with the requisite quorum present. Under ordinary business, shareholders adopted both the Standalone and Consolidated Financial Statements for FY26. They also confirmed the payment of an interim dividend of ₹15.00 per equity share and approved a final dividend of ₹5.00 per equity share, bringing the total dividend distribution for the year to ₹20.00 per share.

Director Re-appointments

The meeting addressed several director re-appointments under ordinary and special business items. Varun Mehta (DIN: 07862034) and Jigish Mehta (DIN: 09054778), who retired by rotation, were re-appointed as directors. Additionally, Radhika Haribhakti (DIN: 02409519) and Ketan Dalal (DIN: 00003236) were re-appointed as Independent Directors.

Special Business Resolutions

Beyond director appointments, the special business included the ratification of remuneration for M/s. Kirit Mehta & Co., Cost Accountants, for the financial year 2026-27. Crucially, shareholders approved the creation of charges pursuant to Section 180(1)(a) of the Companies Act, 2013, up to the limits approved under the borrowing resolution. This procedural step enables the company to secure debt against its assets efficiently within the newly established ₹35,000 crore cap.

What the Numbers Show

The approval of a ₹35,000 crore borrowing limit is a material indicator of Torrent Power’s capital-intensive growth trajectory. Such a high ceiling suggests the company anticipates significant capital expenditure requirements in the near term, likely tied to renewable energy projects or grid infrastructure upgrades. Combined with the consistent dividend payout, the board appears confident in balancing aggressive expansion with shareholder returns.

The proceedings were conducted in compliance with Regulation 30 read with Schedule III of SEBI (LODR) Regulations, 2015. The results were transacted through remote e-voting and e-voting during the AGM, adhering to circulars issued by the Ministry of Corporate Affairs dated September 22, 2025, May 05, 2022, May 05, 2020, April 13, 2020, and April 08, 2020. Rahul Shah, Company Secretary & Compliance Officer, signed off on the proceedings.

Torrent Power witnessed a notable block trade on the National Stock Exchange (NSE), with approximately 1,30,829 shares transacted at a price of ₹1430.10 per share. The total value of the block trade amounted to ₹18.71 crores, reflecting significant institutional-scale activity in the stock.

Block Trade Details

The following table summarises the key parameters of the block trade recorded on the NSE:

Block trades are typically executed outside the open market order book and are generally associated with large institutional investors or significant stakeholders transacting in bulk quantities. The trade in Torrent Power shares at ₹1430.10 per share, covering approximately 1,30,829 shares, underscores the scale of activity observed in this transaction.