Dharan Infra-EPC Limited 's wholly-owned subsidiary, Dharan Infra Solar Private Limited, has signed a significant supply agreement with Skymax Infrapower Limited for a solar power project valued at ₹215 crore. This development marks a substantial step in the company's expansion in the renewable energy sector.

Project Details

The contract encompasses the design, supply, and installation of plant equipment for a large-scale solar photovoltaic power project. Here are the key details of the project:

Scope of Work

Dharan Infra Solar Private Limited's responsibilities under this agreement include:

• Design and engineering
• Procurement and supply of equipment
• Installation of plant structures and related works
• Testing and commissioning of the solar power project

Strategic Implications

This agreement is considered a material contract in the ordinary course of business for Dharan Infra-EPC Limited. It is expected to have a direct impact on the company's consolidated financial and operational performance.

The phased execution of the project aligns with the mutually agreed execution plan between Dharan Infra Solar Private Limited and Skymax Infrapower Limited. This approach may allow for better resource allocation and risk management throughout the project lifecycle.

Industry Context

The securing of this contract by Dharan Infra-EPC's subsidiary reflects the ongoing growth in India's renewable energy sector, particularly in solar power. Maharashtra's commitment to expanding its solar capacity is evident from the scale of this project, spread across multiple sites in the Nanded District.

As India continues to push for increased renewable energy adoption, projects of this scale play a crucial role in the country's transition towards cleaner energy sources. The successful execution of this project could potentially strengthen Dharan Infra-EPC's position in the competitive solar energy market.

Shareholders of Dharan Infra-EPC Limited can access the detailed agreement for inspection at the company's Registered Office during business hours, as per the company's disclosure.

Dharan Infra-EPC Limited, formerly known as KBC Global Limited, has announced a significant change in its leadership. Muthusubramanian Hariharan, the company's Chief Executive Officer (CEO) and director, has resigned from his positions, citing other professional commitments.

Resignation Details

Hariharan submitted his resignation via email on September 19, 2025, with his last working day being September 15, 2025. The Board of Directors formally accepted the resignation at a meeting held on September 22, 2025. According to the company's filing, Hariharan will cease to be the CEO effective September 19, 2025.

Transition and Disclosure

In his resignation letter, Hariharan expressed gratitude for the opportunity to lead Dharan Infra-EPC during a critical period of strategic and operational realignment. He committed to ensuring a smooth transition over the coming weeks, working with the Board and management team to complete pending responsibilities and hand over critical matters.

Regulatory Compliance

The company made this announcement in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Delay in Disclosure

Dharan Infra-EPC acknowledged a delay in submitting this disclosure, explaining that the matter was first placed before the Board of Directors for due consideration and deliberation. The delay was attributed to the time required for the Board's review and decision-making process.

Company Response

Naresh Karda, a director of Dharan Infra-EPC Limited, signed the official intimation to the stock exchanges. The company stated that Hariharan will not continue in any other capacity with the organization.

This leadership change comes at a time when the infrastructure and EPC (Engineering, Procurement, and Construction) sectors in India are facing various challenges and opportunities. Stakeholders will be watching closely to see how Dharan Infra-EPC navigates this transition and who will be appointed to lead the company forward.