Tata Power has announced significant progress in finalizing a power purchase agreement with the Gujarat government for its Mundra power plant. A company executive has confirmed that the organization is currently undertaking the final steps necessary to complete the agreement.

Agreement Progress

The power purchase agreement represents a crucial development for Tata Power's operations at the Mundra facility. Company leadership has indicated that all preliminary negotiations and procedural requirements are nearing completion, with only final formalities remaining before the agreement can be executed.

Strategic Implications

The finalization of this power purchase agreement with Gujarat would establish a formal framework for power supply arrangements from the Mundra plant. This development could strengthen Tata Power's position in the regional power market and provide greater operational certainty for the facility.

Current Status

According to the executive announcement, the company has reached the concluding phase of the agreement process. The final steps being undertaken suggest that both parties have resolved key terms and conditions, moving toward formal execution of the power purchase agreement.

Tata Power has announced a significant change in its statutory auditing arrangements, with the Board of Directors approving the appointment of BSR & Co. LLP as the company's new statutory auditors. The decision was made during a board meeting held on February 4, 2026, following recommendations from the Audit Committee.

Auditor Transition Details

The appointment marks a transition from the current statutory auditors, with specific terms and timeline clearly defined:

SRBC & Co. LLP will continue serving as statutory auditors until the conclusion of the 108th Annual General Meeting, completing their second term with the company.

Profile of New Statutory Auditors

BSR & Co. LLP brings substantial experience and infrastructure to its new role with Tata Power. The firm was originally established as a partnership on March 27, 1990, with firm registration number 101248W, before converting to a limited liability partnership structure on October 14, 2013.

Firm Capabilities and Reach

The firm operates as a member entity of BSR and Affiliates, a network registered with the Institute of Chartered Accountants of India, providing comprehensive audit services across multiple sectors.

Regulatory Compliance

The appointment follows proper regulatory protocols under SEBI regulations. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Board Meeting Timeline

The board meeting that approved this appointment commenced at 2:00 p.m. IST and concluded at 4:35 p.m. IST on February 4, 2026. The decision reflects the company's commitment to maintaining robust audit practices and regulatory compliance standards.