Sharika enterprises Limited has announced securing a substantial work order from Punjab Energy Development Agency (PEDA), marking a significant business development for the company. The contract, valued at Rs. 40,03,150/-, involves the supply, installation and commissioning of LED-based solar photovoltaic street lighting systems across Punjab state.

Contract Details and Specifications

The work order encompasses the deployment of 12-watt LED based SPV Street Lighting Systems throughout Punjab. This project represents the company's engagement with renewable energy infrastructure development in the northern Indian state. The contract has been awarded by Punjab Energy Development Agency, which operates as a Punjab Government Undertaking, highlighting the public sector nature of this engagement.

Project Timeline and Execution

The company has been allocated 119 days for the complete execution of this project. This timeline covers all aspects of the contract including supply, installation and commissioning of the street lighting systems. The project timeline indicates a focused approach toward rapid deployment of solar street lighting infrastructure across Punjab.

Regulatory Compliance and Disclosure

Sharika Enterprises Limited has fulfilled its regulatory obligations by disclosing this contract under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has confirmed that this contract does not involve any related party transactions and that promoters or group companies have no interest in the awarding entity.

Business Impact

This order represents Sharika Enterprises Limited's continued involvement in the renewable energy sector, specifically in solar-powered street lighting solutions. The contract with a government undertaking demonstrates the company's capability to secure public sector projects and contribute to sustainable infrastructure development in Punjab state.

Sharika Enterprises Limited has announced the appointment of a new independent director to strengthen its board composition. The company informed BSE Limited about this significant corporate governance development through a regulatory filing.

Board Meeting Outcome

The Board of Directors of Sharika Enterprises Limited, at its meeting held on January 27, 2026, approved the appointment of Mr. Tej Kishen Wali (DIN: 02413663) as Additional Director under the category of Non-Executive Independent Director. The appointment is effective from January 27, 2026, and is subject to approval by the company's shareholders.

Director Profile and Experience

Mr. Tej Kishen Wali brings extensive experience to the board, with over 43 years in the power sector. He is an Electrical Engineer from Thapar University Patiala and has completed a program on Material Management from IIM Ahmedabad.

His professional experience spans across major organizations including:

• Power Grid Corporation
• NHPC Limited
• IFC/World Bank group

Areas of Expertise

Mr. Wali's expertise covers multiple domains critical to business operations:

• Procurement and supply chain management
• Project management
• Import and logistics operations
• Corporate planning
• Telecommunications
• HVDC long distance and back-to-back projects
• Multilateral funding organizations including World Bank and ADB

Regulatory Compliance

The appointment follows the recommendation of the company's Nomination & Remuneration Committee, ensuring adherence to corporate governance best practices. The company has confirmed that Mr. Wali is not related to any existing director and is not debarred from holding directorial positions by any regulatory authority.

This appointment aligns with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, specifically Regulation 30 read with Part A of Schedule III. The disclosure was made in accordance with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, regarding changes in management.

Corporate Governance Enhancement

The addition of Mr. Wali to the board represents a strategic move to enhance the company's governance structure with his extensive industry experience and expertise in power sector operations. His background in working with multilateral funding organizations and experience in complex project management is expected to contribute valuable insights to the company's strategic direction.