GE Vernova T&D India Limited has announced a comprehensive postal ballot notice seeking shareholder approval for three significant corporate resolutions that will shape the company's leadership and business operations.

Key Resolutions for Shareholder Approval

The company has outlined three critical agenda items requiring member approval through remote e-voting:

Leadership Appointments and Tenure

Independent Director Appointment

Ms. Rashmi Joshi (DIN: 06641898) has been proposed for appointment as an Independent Director for a five-year term from March 20, 2026, to March 19, 2031. With over three decades of business-oriented finance leadership experience across Oil & Gas, Lubricants, FMCG, Consumer Durables, and Pharmaceuticals sectors, she brings extensive expertise in corporate governance and risk management.

Ms. Joshi previously served as Executive Director at Veedol Corporation Limited and Castrol India Limited, and currently holds directorships in multiple listed entities including Bharat Forge Limited, Orkla India Limited, Morganite Crucible (India) Limited, and Vesuvius India Limited.

Managing Director Re-appointment

Mr. Sandeep Zanzaria (DIN: 08905291) seeks re-appointment as Managing Director and Chief Executive Officer for a three-year term from April 17, 2026, to April 16, 2029. During his current tenure, the company has experienced significant growth in revenue, profitability, cash balance, and market capitalization.

The proposed remuneration structure includes:

Material Related Party Transactions

The company seeks approval for transactions worth up to ₹30,000 million with UK Grid Solutions Limited, a fellow subsidiary within the GE Vernova group. These transactions involve:

The transactions represent 70% of the company's annual consolidated turnover for the immediately preceding financial year and 51.1% of the related party's annual consolidated turnover. These arrangements enable the company to access international markets, optimize manufacturing capabilities, and leverage specialized GE Vernova technology and expertise.

Voting Timeline and Process

Shareholders can participate in the remote e-voting process according to the following schedule:

The postal ballot notice has been sent electronically to shareholders whose email addresses are registered with the company, depositories, or depository participants. Mr. Manish Gupta of M/s. RMG & Associates, Company Secretaries, has been appointed as the Scrutinizer to ensure fair and transparent voting.

Corporate Governance and Compliance

All proposed transactions with UK Grid Solutions Limited will be conducted at arm's length basis, in the ordinary course of business, and in the company's interest. The Audit Committee and Board of Directors approved these resolutions at their meeting held on January 28, 2026.

The company's transfer pricing policy, governed by Income Tax Act provisions and benchmarked by independent consultants, ensures compliance with OECD guidelines and maintains arm's length pricing for all related party transactions.

Resolutions passed by the requisite majority will be deemed effective from March 20, 2026, the last date specified for remote e-voting. The results will be published on the company's website and submitted to BSE Limited and National Stock Exchange of India Limited.

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GE Vernova T&D India Limited has announced robust financial results for the quarter and nine months ended December 31, 2025, demonstrating strong operational performance across key metrics. The company's Board of Directors approved the unaudited standalone financial results during their meeting held on January 28, 2026, followed by an earnings conference call with analysts and investors.

Financial Performance Highlights

The company delivered impressive financial results for Q3FY26, with significant improvements across revenue and profitability metrics compared to the corresponding period last year.

Nine-Month Performance

For the nine-month period ended December 31, 2025, the company maintained strong momentum with substantial year-over-year growth.

Order Book and Business Performance

During the earnings conference call, CEO and Managing Director Sandeep Zanzaria highlighted strong order bookings and market positioning. The company secured orders worth Rs 29.4 billion in Q3FY26, representing a 41% year-on-year growth compared to Rs 20.8 billion in the corresponding quarter.

HVDC Project Wins and Market Outlook

The company won the significant Adani Khavda HVDC project, which will be reported in subsequent quarters upon achieving defined commercial milestones. This VSC HVDC order from Adani Group involves building HVDC stations at Khavda and South Olpad, with an execution timeline of approximately 4 years.

Additionally, the company secured the Chandrapur HVDC refurbishment order from Power Grid Corporation during Q3FY26. Management expressed confidence about the Barmer-South Kalamb HVDC project, expecting order finalization in Q2 of FY27.

Exceptional Item Impact

The company recorded an exceptional item of Rs 693.0 million during Q3FY26 related to additional provisions for the four Labour codes notified by the Government of India on November 21, 2025. These codes consolidate 29 existing Labour Laws, and the company has estimated the financial implications based on draft rules and FAQs issued by the Ministry of Labour and Employment.

Board Appointments and Leadership Changes

The Board approved significant leadership appointments during the meeting:

Independent Director Appointment

Ms. Rashmi Joshi, aged about 59 years, is a qualified Chartered Accountant and Company Secretary with over three decades of business-oriented finance leadership experience across Oil & Gas, Lubricants, FMCG, Consumer Durables and Pharmaceuticals sectors.

Managing Director Re-appointment

Market Positioning and Growth Strategy

During the earnings call, management emphasized India's renewable energy growth, with 38 gigawatts of solar and 6.3 gigawatts of wind capacity additions in calendar year 2025. The Draft NEP 2026 targets 2,000 kilowatt hour per capita electricity consumption by 2030, rising to over 4,000 kilowatt hour by 2047, supporting strong transmission infrastructure demand.

The company maintains a strong order book with 98% exposure to private customers, central utilities and public sector enterprises, while limiting state utility exposure to less than 2%. Export orders contributed approximately 15% of total bookings during the financial year, with the company actively pursuing international opportunities across multiple geographies.