Sharika enterprises has announced securing a substantial order from Power Grid Corporation of India Limited, marking a significant development in its renewable energy business segment. The company disclosed this material information under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, highlighting the importance of this contract for its business operations.

Contract Details and Specifications

The order involves supply and installation of a 329 kWp rooftop grid connected Solar PV system for Power Grid Corporation of India Limited, described as "A Government of India Enterprise." The comprehensive project encompasses both supply and installation components, positioning Sharika Enterprises as a complete solution provider in the solar energy sector.

Project Timeline and Maintenance

The contract stipulates a 6-month execution period for the complete supply and installation of the solar PV system. Additionally, the agreement includes a comprehensive maintenance contract extending for 5 years, ensuring long-term service commitment and potential recurring revenue for Sharika Enterprises. This extended maintenance component demonstrates the company's capability to provide ongoing technical support and system optimization services.

Regulatory Compliance and Disclosure

Sharika Enterprises has fulfilled its regulatory obligations by disclosing this contract under SEBI Listing Regulations, specifically following SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. The company confirmed that this contract does not involve any related party transactions and that promoters or group companies have no interest in the contracting entity. The disclosure was made through proper channels to BSE Limited, ensuring transparency for all stakeholders.

Strategic Significance

This order from a prestigious government enterprise reinforces Sharika Enterprises' position in the renewable energy infrastructure sector. The contract with Power Grid Corporation of India Limited, being a major government entity, adds credibility to the company's project execution capabilities and may potentially lead to future opportunities in the expanding solar energy market.

Sharika Enterprises Limited has submitted a detailed clarification to BSE Limited regarding the delayed disclosure of completion of tenure of its Non-Executive Independent Director. The company's response addresses BSE's inquiry dated February 24, 2026, concerning additional details required under SEBI circular dated November 11, 2024.

Director Tenure Completion Details

The clarification centers on Mr. Arvind Kumar Koul (DIN: 09045833), whose tenure as Non-Executive Independent Director completed on January 31, 2026. The company provided comprehensive details about the cessation in compliance with regulatory requirements.

Regulatory Compliance Timeline

The company acknowledged a delay in meeting the prescribed disclosure timeline under SEBI regulations. According to Regulation 30(6) read with Schedule III of the SEBI (LODR) Regulations, 2015, the disclosure was required within 24 hours of the event occurrence.

Company's Response and Remedial Measures

Sharika Enterprises attributed the delayed disclosure to administrative oversight, emphasizing that the delay was inadvertent and without any mala fide intent. The company expressed sincere regret for the delay and outlined corrective measures.

The key remedial actions include:

• Implementation of additional internal control measures
• Enhanced procedures to ensure timely disclosures
• Strict adherence to regulatory timelines going forward
• Submission of revised corporate announcement along with the explanation

Regulatory Documentation

The company submitted the clarification through Company Secretary & Compliance Officer Pushpa Yadav, who digitally signed the communication on February 24, 2026. The response included Annexure A containing detailed disclosures as required under SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Sharika Enterprises requested BSE to take the submission on record and condone the inadvertent delay, demonstrating the company's commitment to regulatory compliance and transparency in corporate governance matters.