Zodiac Energy Limited shareholders approved a final dividend of ₹0.75 per equity share for the financial year ended March 31, 2026, during the company's 34th Annual General Meeting (AGM). The payout represents 7.5% of the face value of ₹10 per share.

The virtual meeting, conducted via video conferencing on September 23, 2026, saw the adoption of audited standalone and consolidated financial statements for FY26. Managing Director Kunjbihari Shah outlined the company’s strategic shift toward becoming an integrated energy entity, highlighting expansions in Independent Power Producer (IPP) businesses and new entries into energy storage and transmission sectors.

Key resolutions passed

The board proposed and members approved several ordinary and special resolutions. The key items included the re-appointment of Parul Kunjbihari Shah as Whole Time Director and the alteration of the Articles of Association to remove the provision for a common seal.

Governance and audit updates

The Statutory Auditor’s report for FY26 was noted to contain no qualifications or observations. However, the Secretarial Audit Report for the same period contained a qualification, which was read out along with management clarifications during the proceedings. The meeting was chaired by Kunjbihari Shah, with attendance from key managerial personnel including Chief Financial Officer Shefali Karar and Company Secretary Divya Joshi.

No questions were raised by registered speaker shareholders during the session. The e-voting results are expected to be declared within two working days following the receipt of the scrutinizer’s report.

Zodiac Energy completed the acquisition of a 63.5% equity stake in Zenwatt Clean Energy Private Limited on September 21, 2026. The transaction makes Zenwatt a subsidiary of the listed entity, advancing its strategy to expand its renewable energy portfolio and operational capabilities in the Battery Energy Storage Systems (BESS) sector.

The acquisition was executed through a cash consideration of ₹18 per equity share. Zodiac Energy acquired 6,35,000 equity shares with a face value of ₹10 each, resulting in an aggregate consideration of ₹1,14,30,000. This move follows the Board of Directors' approval announced on February 9, 2026.

Transaction Details

Zenwatt Clean Energy Private Limited, incorporated on July 7, 2023, operates exclusively in India. The company is engaged in the business of Battery Energy Storage Systems (BESS). As per the disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the transaction was undertaken on an arm’s length basis.

Financial Profile of Target

Zenwatt reported a turnover of ₹5,13,000 for FY26. The entity recorded nil turnover for both FY25 and FY24. The company has an authorized share capital of ₹3 crore divided into 30,00,000 equity shares of ₹10 each, with a paid-up share capital of ₹1 crore comprising 10,00,000 equity shares.

Related Party Aspect

The disclosure confirms that the promoters and members of the promoter group have an interest in the acquisition. However, the company stated that the transaction adheres to applicable laws and was conducted at arm's length. No governmental or regulatory approvals were required for this acquisition.