IRM Energy Limited , a prominent player in the energy sector, has announced the departure of Mr. Prashant Sagar from his role as Executive Vice President – Projects and Chief Operating Officer (COO). The company confirmed that Sagar's resignation took effect at the close of business hours on September 22, 2025.

Resignation Details

Mr. Sagar, who was designated as Senior Management Personnel (SMP), cited his intention to pursue new opportunities as the reason for his departure. This move marks a significant change in the company's top-level management structure.

Timeline of Events

The resignation process followed a structured timeline:

• August 1, 2025: IRM Energy Limited initially informed stakeholders about Mr. Sagar's intention to resign.
• September 22, 2025: Mr. Sagar's last day of service with the company.
• September 23, 2025: The company officially announced the completion of Mr. Sagar's tenure through a regulatory filing.

Regulatory Compliance

In adherence to the Securities and Exchange Board of India (SEBI) regulations, IRM Energy Limited promptly disclosed this management change. The company filed the necessary information under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrating its commitment to transparency and regulatory compliance.

Company's Statement

Akshit Soni, Company Secretary & Compliance Officer of IRM Energy Limited, signed the official communication to the National Stock Exchange of India Limited and BSE Limited. The statement included all required details as per SEBI guidelines, including the reason for the change and the effective date of cessation.

Market Impact

As of now, the immediate impact of this management change on IRM Energy Limited's operations or stock performance remains to be seen. Investors and market analysts will likely be watching closely for any subsequent announcements regarding a potential successor or changes in the company's strategic direction.

IRM Energy Limited continues to navigate the dynamic energy sector. The departure of a key executive like Mr. Sagar may lead to some short-term adjustments, but the company's long-term trajectory will depend on its ability to manage this transition effectively.

IRM Energy Limited , a prominent player in the City Gas Distribution (CGD) sector, has released its financial results for the first quarter, revealing a complex picture of growth and challenges. The company also faces a leadership transition as it grapples with the unresolved resignation of a key executive.

Financial Performance

For the quarter ended June 30, IRM Energy reported:

• Consolidated revenue from operations of ₹2,624.97 crore, marking a significant increase of approximately 16.5% compared to ₹2,253.50 crore in the same quarter of the previous year.
• Consolidated Profit After Tax (PAT) of ₹139.21 crore, down from ₹187.03 crore in the corresponding quarter, representing a decrease of about 25.6%.

The revenue growth was primarily attributed to a 14% rise in overall sales volume. However, profitability showed signs of pressure, which the company attributed to lower APM (Administered Price Mechanism) gas allocation for the CNG segment and higher initial fixed operating expenses in the Namakkal and Tiruchirappalli Geographical Area (GA).

Operational Highlights

IRM Energy demonstrated strong operational growth during the quarter:

Additionally, the company:

• Added 1,273 domestic customers, 21 commercial customers, 3 industrial customers, and 1 CNG station.
• Now serves 76,278 households, 433 commercial, and 217 industrial customers across its four operational Geographical Areas.

Strategic Initiatives

IRM Energy has undertaken several strategic moves:

1. Signed an MoU with RedTaxi in the Namakkal and Tiruchirappalli GA to retrofit their existing fleet of over 700 vehicles to run on CNG.
2. Entered into a Tripartite Agreement with IAV Biogas Pvt. Ltd. and GAIL (India) Limited for the offtake of Compressed Bio Gas, diversifying its green energy portfolio.

Leadership Challenges

The company is navigating a complex situation regarding the resignation of Mr. Prashant Sagar, Executive Vice President (Projects) and Chief Operating Officer:

• Mr. Sagar tendered his resignation on April 30, citing pursuit of new opportunities, with an intended notice period until July 31.
• The company has been unable to finalize Mr. Sagar's cessation date due to incomplete information and documentation.
• This situation has led to an interim disclosure, with the company treating the resignation as unpublished price sensitive information and closing the trading window for designated persons.

Looking Ahead

Despite these challenges, IRM Energy continues to expand its infrastructure and customer base:

• Currently operates 112 CNG stations.
• Made significant progress in its capital expenditure plans, particularly in the Namakkal and Tiruchirappalli areas.

As IRM Energy navigates through this period of mixed financial performance and leadership transition, stakeholders will be closely watching how the company addresses these challenges and capitalizes on its growth opportunities in the evolving energy landscape.

Note: All financial figures are in Indian Rupees (₹). 1 crore = 10 million.