Tulsyan nec Limited has submitted its mandatory compliance certificate under SEBI regulations for the quarter ended March 31, 2026. The certificate, filed under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, was submitted to BSE Limited on April 7, 2026.

Regulatory Filing Details

The certificate was submitted by Parvati Soni, Company Secretary and Compliance Officer of Tulsyan NEC Limited. The filing pertains to the company's BSE scrip code 513629 and covers the compliance requirements for the fourth quarter of fiscal year 2026.

Registrar Confirmation

Cameo Corporate Services Limited, acting as the registrar and transfer agent, provided the confirmation certificate dated April 6, 2026. The registrar confirmed compliance with all dematerialization procedures during the quarter ended March 31, 2026.

The confirmation covers several key compliance areas:

• Securities received from depository participants for dematerialization were properly confirmed to depositories
• All securities comprised in certificates have been listed on stock exchanges where earlier issued securities are listed
• Security certificates received for dematerialization were mutilated and cancelled after due verification
• The Register of Members was updated with depositories as registered owners within the mandated 15-day timeline

Company Information

Tulsyan NEC Limited operates from its registered office at Apex Plaza, 1st Floor, No.3, Nungambakkam High Road, Chennai - 600 034, Tamil Nadu. The company holds multiple certifications including ISO 45001:2018 and ISO 14001:2015, demonstrating its commitment to occupational health and environmental management standards.

This regulatory filing represents routine compliance with SEBI's depositories and participants regulations, ensuring transparency in the dematerialization process and maintaining proper records of securities transactions.

Tulsyan NEC Limited has successfully secured a significant Power Purchase Agreement (PPA) with Manikaran Power Limited, marking a crucial milestone in the company's power generation operations. The agreement involves supplying 60 MW Round the Clock (RTC) power to Tamil Nadu Power Distribution Corporation Limited (TNPDDL) over a five-year period.

Agreement Details and Financial Terms

The company has received a Letter of Award (LOA) from Manikaran Power Limited following their successful participation in TNPDDL's tender for 1000 MW of RTC power procurement. The key terms of the agreement are structured as follows:

Regulatory Addendum and Technical Requirements

Following the initial PPA execution, Tulsyan NEC Limited has filed an addendum under Regulation 30 of SEBI regulations, clarifying important technical aspects of the power supply arrangement. The addendum specifies that the award of the power supply contract to Manikaran Power Limited is based on the technical capacity of the company as the generator, with appropriate connectivity to the State Electricity Grid.

A critical provision in the addendum states that the sources of supply cannot be altered during the tenure of the PPA without the prior consent of Tulsyan NEC Limited, ensuring operational control and stability.

Strategic Impact on Operations

This PPA addresses a critical operational challenge that Tulsyan NEC Limited had been facing since the commencement of its power plant operations. The absence of medium-term power purchase agreements had significantly hindered the company's ability to operate at full scale capacity and achieve optimal profitability. The five-year contract duration ensures continued operations of the company's power plant units at full capacity, providing operational stability and revenue predictability.

Coal Linkage Eligibility and SHAKTI Policy Benefits

A significant advantage of securing this PPA is the company's newfound eligibility for coal allotment under the SHAKTI (Scheme for Harnessing and Allocating Koyala Transparently in India) Policy, 2025. This eligibility brings several operational benefits including access to Indian coal at reasonable prices, assurance of continuous and consistent profitable operations, expected consistent EBITDA generation during the PPA tenure, and reduced dependency on expensive imported coal.

Market Context and Regulatory Compliance

The original tender issued by TNPDDL was for 1000 MW of RTC power, running from April 1, 2026, to March 31, 2031. Tulsyan NEC Limited has also received Independent Power Producer (IPP) Certification from the Central Electricity Inspectorate General, which serves as a prerequisite for coal linkage allocation. The execution of this back-to-back Power Purchase Agreement, along with the regulatory addendum, represents a strategic achievement for the company, ensuring operational continuity and financial stability for its power generation business over the next five years.