Sterling powergensys Limited has successfully concluded its Board of Directors meeting held on March 14, 2026, approving the re-appointment of Mr. Sankaran Venkata Subramanian as Managing Director. The meeting took place at the company's registered office in Mumbai, addressing the primary agenda item with Board approval.

Board Meeting Outcome

The Board meeting commenced at 03:00 P.M. and concluded at 03:40 P.M. on March 14, 2026, at the company's registered office located at Office No. 816, 8th Floor, Rajhans Helix 3, L B S Marg, Ghatkopar West, Mumbai. The company issued the outcome notice pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Re-appointment Details

Based on recommendations from the Nomination and Remuneration Committee, the Board approved Mr. Sankaran Venkata Subramanian's re-appointment as Managing Director for a further period of 5 years. The re-appointment is effective from April 01, 2026, to March 31, 2031, maintaining the same terms and conditions including remuneration as previously approved.

Managing Director Profile

Mr. Sankaran Venkata Subramanian brings extensive expertise in industrial boilers and incinerators to his role. A Science Graduate, he previously worked with Thermax Limited, Mumbai, where he gained valuable industry experience. The Board confirmed that he is not debarred from holding the office of Director by SEBI or any other authority and is not related to any other Director of the Company.

Regulatory Compliance

The company provided detailed disclosures required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 to the Bombay Stock Exchange, ensuring full compliance with listing requirements. The notice was digitally signed by Mr. Sankaran Venkata Subramanian on March 14, 2026, at 15:42:11 +05'30'. The appointment is in accordance with the provisions of the Companies Act, 2013.

Company Information

Sterling Powergensys Limited, formerly known as Sterling Strips Limited, operates under C.I.N. L29213MH1984PLC034343. The company is listed on the Bombay Stock Exchange and maintains its registered office at Rajhans Helix 3 in Ghatkopar West, Mumbai. The company can be contacted through multiple email addresses and operates the website www.splsolar.in .

Sterling Powergensys Limited, a player in the electric vehicle chargers and charging stations business, has reported a significant decline in its financial performance for the first quarter of fiscal year 2026. The company's unaudited financial results, published on August 15, 2025, reveal a sharp drop in revenue and continued losses, albeit at a reduced rate compared to previous periods.

Revenue Plummets

For Q1 FY2026, Sterling Powergensys reported total income from operations of ₹254.87 lakhs, marking a substantial decline of:

• 78.03% from the previous quarter (₹1160.17 lakhs)
• 91.66% year-over-year (₹3057.49 lakhs in Q1 FY2025)

This steep drop in revenue highlights significant challenges faced by the company in maintaining its business momentum.

Narrowing Losses

Despite the revenue decline, the company has managed to narrow its losses:

This reduction in losses, despite the revenue decline, may indicate some success in cost-cutting measures or improved operational efficiency.

Business Focus

Sterling Powergensys operates primarily in the electric vehicle chargers and charging stations business. The company treats all its operations as one segment, suggesting a focused approach to its core business.

Financial Position

The equity share capital of the company remained unchanged at ₹5839.16 lakhs, indicating no new equity issuance during the quarter.

Transparency and Compliance

In line with regulatory requirements, Sterling Powergensys published these unaudited financial results in newspaper advertisements on August 15, 2025. This action demonstrates the company's commitment to transparency and compliance with listing obligations.

The company's Board of Directors approved these results in a meeting held on August 14, 2025, as disclosed in the LODR (Listing Obligations and Disclosure Requirements) filing made to the BSE Limited.

While the significant revenue decline is concerning, the narrowing of losses provides a silver lining. Investors and stakeholders will likely be watching closely to see if Sterling Powergensys can reverse the revenue trend in the coming quarters while maintaining its improved cost management.