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 initiated the formal shareholder approval process for the appointment of Mr. Tej Kishen Wali as Independent Director through a postal ballot notice dated January 27, 2026. The company informed BSE Limited about the postal ballot proceedings and e-voting arrangements through regulatory filings.

Board Meeting and Initial Appointment

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 requires formal approval by the company's shareholders through the postal ballot process.

Postal Ballot Process and E-Voting Timeline

The company has issued a comprehensive postal ballot notice seeking shareholder approval for Mr. Wali's appointment as Independent Director through a Special Resolution. The postal ballot process will be conducted entirely through remote e-voting, in compliance with MCA circulars and SEBI regulations.

Director Profile and Expertise

Mr. Tej Kishen Wali brings over 43 years of experience in the power sector to the board. 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, and IFC/World Bank group.

Areas of Specialization

Mr. Wali's expertise encompasses multiple critical business domains:

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

Regulatory Compliance and Age Consideration

The postal ballot notice includes provisions for Mr. Wali's continuation as director beyond the age of 75 years. As he will attain 75 years on March 17, 2027, the Special Resolution seeks approval pursuant to Regulation 17(1A) of SEBI Listing Regulations for his continued directorship during the five-year term.

Shareholder Communication and Voting Process

The company is sending the postal ballot notice exclusively through electronic mode to shareholders whose email addresses are registered with the company or depositories. Shareholders holding shares as on the cut-off date of January 30, 2026, are eligible to participate in the e-voting process through CDSL's platform at www.evotingindia.com .

The appointment follows the recommendation of the company's Nomination & Remuneration Committee and aligns with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has confirmed that Mr. Wali meets all independence criteria and is not debarred from holding directorial positions by any regulatory authority.