IND Renewable Energy Limited has announced its unaudited financial results for the quarter ended September 30, 2025, revealing a challenging financial performance with significantly widened losses. The company, formerly known as Vakharia Power Infrastructure Limited, continues to face operational difficulties as reflected in its latest quarterly numbers.

Financial Performance Overview

The company's financial performance showed considerable deterioration during the second quarter of FY26. The following table summarizes the key financial metrics:

Expense Analysis

The company's expense structure revealed significant increases across key categories during Q2FY26. Other expenses constituted the major component, rising dramatically to ₹14.63 lakhs from ₹4.41 lakhs in the corresponding quarter of the previous year. Finance costs remained relatively stable at ₹0.02 lakhs compared to ₹0.02 lakhs in Q2FY25. Employee benefit expenses were nil during the current quarter, compared to ₹0.66 lakhs in the previous year quarter.

Half-Year Performance

For the six-month period ended September 30, 2025, the company's performance metrics were as follows:

Balance Sheet Position

As of September 30, 2025, the company maintained total assets of ₹2,688.67 lakhs compared to ₹2,672.35 lakhs as of March 31, 2025. The major asset components included loans and advances of ₹2,675.14 lakhs and cash and cash equivalents of ₹0.46 lakhs. Total equity stood at ₹2,603.70 lakhs, marginally lower than ₹2,604.64 lakhs at the previous year-end.

Cash Flow Analysis

The company's cash flow statement for the six months ended September 30, 2025, showed a net cash outflow from operating activities of ₹3.85 lakhs. Cash flow from financing activities provided an inflow of ₹4.30 lakhs, primarily from proceeds received in long-term borrowings of ₹4.35 lakhs. The company's cash and cash equivalents decreased to ₹0.43 lakhs from the opening balance of ₹0.45 lakhs.

Corporate Governance

The Board of Directors approved these unaudited financial results at their meeting held on February 5, 2026. The results were reviewed by the Audit Committee on February 4, 2026, before board approval. The company's paid-up equity share capital remained unchanged at ₹1,392.60 lakhs, with shares having a face value of ₹1 each.

IND Renewable Energy Limited has announced that its Board of Directors will convene on January 29, 2026, to consider a substantial fund raising proposal. The meeting has been scheduled in accordance with Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Fund Raising Proposal Details

The primary agenda for the board meeting centers on a significant financial initiative. The company will deliberate on raising funds up to ₹100.00 crores, marking a substantial capital mobilization effort for the renewable energy company.

Company Background

IND Renewable Energy Limited, formerly known as Vakharia Power Infrastructure Limited, operates in the renewable energy sector. The company is incorporated under the Companies Act with CIN L40102MH2011PLC221715 and maintains its registered office at 503, Western Edge II, Western Express Highway, Borivali East, Mumbai 400066.

Regulatory Compliance

The board meeting announcement was formally communicated to BSE Limited on January 22, 2026, through the Department of Corporate Services. The company trades on BSE under scrip code 536909. The notification ensures compliance with mandatory disclosure requirements under SEBI regulations for listed companies.

Corporate Governance

The official communication was signed by Abhay Gupta, Director of the company, bearing DIN 02294699. The digital signature was authenticated on January 22, 2026, at 16:53:59 IST. The company has also committed to uploading the updated information on its official website, ensuring transparency and accessibility for stakeholders.

The fund raising proposal represents a significant corporate development for IND Renewable Energy Limited, potentially enhancing its financial capacity for future operations and expansion initiatives in the renewable energy sector.