Primo Chemicals Limited has announced a significant step towards sustainable energy adoption with its board approving a strategic investment in renewable energy infrastructure. The company's board meeting held on January 16, 2026, from 14:00 hours to 16:50 hours, approved the investment decision that aligns with the growing trend of industrial captive power generation.

Investment Structure and Financial Details

The board has approved an investment of ₹21 crores for acquiring a 26% equity stake in a Special Purpose Vehicle (SPV) that will be incorporated specifically for this solar power project. The investment structure and key financial parameters are outlined below:

Solar Power Plant Specifications

The SPV will develop, own, and operate a 50 MW solar power plant under captive mode using an OPEX (Operational Expenditure) model. This approach allows Primo Chemicals to access clean energy without the burden of direct ownership and maintenance responsibilities. The solar facility will supply power to Primo Chemicals Limited at a fixed tariff at the injection point, providing cost predictability and substantial savings.

Partnership and Corporate Structure

The SPV will be incorporated by Sun Photonics Private Limited (SPPL), which will serve as the holding company. Importantly, SPPL is not a related party to Primo Chemicals Limited, ensuring an arm's length transaction. This partnership structure allows Primo Chemicals to benefit from SPPL's expertise in solar power generation while maintaining a significant minority stake in the project.

Regulatory Framework and Approvals

The project implementation is subject to comprehensive regulatory compliance and approvals. The solar power plant will operate in accordance with open access and captive power policies under prevailing electricity laws and regulations. Specific regulatory requirements include:

• Compliance with the Electricity Act, 2003 and Electricity Rules, 2005
• Adherence to applicable rules and regulations governing captive power generation in Punjab state
• Open access regulations compliance
• Approval from the company's banks and financial institutions

The company has initiated the necessary approval processes and committed to submitting all required applications within prescribed timelines.

Strategic Impact and Cost Benefits

This investment represents a strategic move towards energy cost optimization and sustainability. The anticipated cost savings of up to ₹24 crores per annum upon commissioning demonstrate the project's strong financial viability. The fixed tariff arrangement provides cost certainty and protection against volatile electricity prices, while the captive mode ensures dedicated power supply for the company's operations.

The investment aligns with India's renewable energy goals and corporate sustainability initiatives, positioning Primo Chemicals as a forward-thinking organization committed to clean energy adoption. The OPEX model minimizes capital expenditure while providing access to modern solar infrastructure and professional operation and maintenance services.

Primo chemicals Limited has announced a postal ballot notice for seeking shareholder approval through remote e-voting for the appointment of Ms. Dipti Jain as Woman Director (Non-Executive Independent). The notice, dated January 13, 2026, has been dispatched to shareholders and filed with BSE Limited and National Stock Exchange of India Limited under Regulation 30 of SEBI Listing Regulations.

E-Voting Schedule and Process

The company has established a comprehensive timeline for the postal ballot process. The remote e-voting will commence on January 14, 2026, at 10:00 hours (IST) and conclude on February 12, 2026, at 17:00 hours (IST). Central Depository Services (India) Limited (CDSL) will provide the e-voting platform, with the module being disabled after the specified deadline.

Director Appointment Details

The postal ballot seeks approval for appointing Ms. Dipti Jain (DIN: 10685596) as Woman Director (Non-Executive Independent) for a term of three consecutive years effective from November 14, 2025. The Board of Directors had initially appointed her as Additional Woman Director on November 14, 2025, based on recommendations from the Nomination & Remuneration Committee.

Candidate Profile

Ms. Dipti Jain brings significant professional expertise to the board:

Ms. Jain has over a decade of experience as a Chartered Accountant and co-founded GyaanStation, an online platform for education and professional development. She actively serves the Institute of Chartered Accountants of India at WIRC and Central levels.

Regulatory Compliance

The appointment requires special resolution approval under Sub-Regulation (2A) of Regulation 25 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates that appointment, re-appointment, or removal of independent directors in listed entities must receive shareholder approval through special resolution.

Ms. Jain has provided necessary declarations confirming her eligibility under Section 164 of the Companies Act, 2013, and meeting independence criteria under Section 149(6) of the Companies Act, 2013, and SEBI Listing Regulations.

Voting Eligibility and Process

Shareholders whose names appear in the Register of Members or List of Beneficial Owners as of January 9, 2026 (cut-off date) are eligible to participate in the postal ballot. Voting rights will be proportionate to shareholding in the company's paid-up equity share capital as of the cut-off date.

The notice has been sent electronically to shareholders with registered email addresses, following MCA circulars issued between 2020 and 2025. Physical copies of the postal ballot form are not being dispatched in compliance with government guidelines.

Result Declaration

The scrutinizer will submit the voting results to the Chairman after completion of the scrutiny process. Results will be declared and made available on multiple platforms:

• Company website: www.primochemicals.in
• CDSL website: www.evotingindia.com
• Stock exchange websites (BSE and NSE)
• Company's registered office notice board

The resolution, if passed by requisite majority, will be deemed effective from February 12, 2026, the last date of e-voting. The company has appointed Mr. Ajay K. Arora from M/s A. Arora & Co., Practicing Company Secretaries, as scrutinizer to ensure fair and transparent conduct of the postal ballot process.