Surana Telecom & Power Limited , a key player in the telecom cable, metals, and solar industry, has announced significant corporate developments and financial results for the first quarter of the fiscal year.

Leadership Continuity

The Board of Directors has re-appointed Shri Narender Surana as the Managing Director for a three-year term, effective from May 23, 2025, to May 22, 2028. This decision, subject to shareholder approval, ensures continuity in the company's leadership. Surana, with over 37 years of experience in the industry, has been instrumental in steering the company's growth.

Q1 Financial Performance

Surana Telecom & Power Limited reported the following standalone financial results:

The company demonstrated robust financial performance with a significant increase in profitability. The profit before tax surged by 72.88% year-on-year, while the profit after tax saw a 72.56% increase.

Segment-wise Performance

The company's operations are divided into two segments:

1. Renewable Energy (Solar): This segment generated revenue of 114.24 lakhs.
2. Infra & Others: This segment reported revenue of 88.28 lakhs.

Corporate Governance

In line with best practices in corporate governance, the Board confirmed that Narender Surana is not debarred from holding directorship by SEBI or any other authority. This reaffirmation underscores the company's commitment to regulatory compliance and transparency.

Additional Board Appointments

The company announced the proposed appointment of Mrs. Sanjana Jain as an Independent Director on the Board of Aryavaan Renewable Energy Private Limited, a material unlisted subsidiary of Surana Telecom & Power Limited. Jain, a qualified Company Secretary with expertise in Corporate Law, brings diverse experience to the board.

Strategic Moves

The Board has approved the divestment of 7% equity shares held in Aryavaan Renewable Energy Private Limited, subject to shareholder approval. This strategic decision aligns with the company's ongoing efforts to optimize its portfolio and focus on core strengths.

Surana Telecom & Power Limited's latest announcements reflect its commitment to strong leadership, financial growth, and strategic development in the renewable energy and infrastructure sectors.

Surana Telecom & Power , a key player in the renewable energy and infrastructure sectors, has announced robust financial results for the first quarter, along with significant management changes and strategic decisions.

Financial Performance

The company reported a substantial increase in standalone profit for Q1, reaching ₹271.84 crore compared to ₹157.53 crore in the same quarter last year, marking a 72.60% year-on-year growth. Total income also saw a healthy rise, climbing to ₹530.02 crore from ₹469.95 crore in the previous year, representing a 12.80% increase.

The consolidated financial results paint an equally positive picture:

The company's performance was particularly strong in its 'Infra & Others' segment, which reported a profit before interest and tax of ₹71.78 crore, up from ₹40.43 crore in the same quarter last year.

Management Changes and Strategic Decisions

The Board of Directors has reappointed Narender Surana as Managing Director for a further period of three years, effective from May 23, 2025, to May 22, 2028, subject to shareholder approval. Mr. Surana, with over 37 years of experience in the telecom cable, metals, and solar industry, has been a key figure in the company's growth and strategic direction.

The Board has also proposed the appointment of Sanjana Jain as an Independent Director on the board of Aryavaan Renewable Energy Private Limited, a material unlisted subsidiary of the company. Mrs. Jain, a qualified Company Secretary with expertise in corporate law matters, is set to bring valuable insights to the subsidiary's governance.

In a significant strategic move, the company's board has approved the divestment of its 7% equity stake in Aryavaan Renewable Energy Private Limited, a material subsidiary. This transaction requires shareholder approval through a general meeting before execution. Upon completion, Aryavaan Renewable Energy will cease to be a subsidiary of Surana Telecom. The buyers are Arun Kumar Kedia and Navkar Solar Power Systems LLP, who belong to the promoter/promoter group. The consideration will be determined at fair value by an independent chartered accountant as per Income Tax Act provisions.

Aryavaan Renewable Energy contributed 6.27% to Surana Telecom's net worth and 22.92% to its turnover in FY 24-25. The transaction qualifies as a related party transaction.

Segment Performance

The company operates in two primary segments:

1. Renewable Energy (Solar): This segment generated revenue of ₹326.77 crore in Q1, contributing significantly to the company's overall performance.

2. Infra & Others: This segment reported revenue of ₹88.59 crore, showing steady performance.

Surana Telecom & Power's focus on renewable energy aligns with the growing global emphasis on sustainable power sources, positioning it well for future growth opportunities in the renewable energy and infrastructure sectors.