Urja Global Limited , a key player in the renewable energy sector, has announced a significant change in its corporate governance structure. The company's Board of Directors, in a meeting held on October 15, 2025, approved the reconstitution of its Audit Committee, signaling a commitment to enhanced oversight and transparency.

New Leadership at the Helm

The reconstituted Audit Committee sees Mr. Mukul Jain stepping into the role of Chairperson. Mr. Jain, who serves as a Non-Executive Independent Director, brings a fresh perspective to this crucial oversight body.

Committee Composition

The newly formed Audit Committee comprises a blend of executive and non-executive members:

This diverse composition aims to ensure a balance of independent oversight and operational insight within the committee.

Implications for Corporate Governance

The reconstitution of the Audit Committee is a significant move that could potentially strengthen Urja Global's financial oversight and risk management processes. By including both independent and executive directors, the company appears to be striving for a well-rounded approach to auditing and financial governance.

Looking Ahead

As Urja Global Limited continues to navigate the dynamic renewable energy sector, this restructuring of the Audit Committee may play a crucial role in maintaining investor confidence and ensuring robust financial practices. Stakeholders will likely be watching closely to see how this change impacts the company's financial reporting and overall governance in the coming months.

The company's proactive approach to updating its governance structure aligns with best practices in corporate management and could potentially enhance its standing in the eyes of investors and regulatory bodies alike.

Urja Global , a player in the electric vehicle and renewable energy sectors, has released its unaudited financial results for the quarter ended September 30, revealing a mixed performance amidst significant regulatory hurdles.

Financial Performance

The company reported consolidated revenue of Rs 15.50 crores for Q2, down from Rs 19.01 crores in the previous quarter. Despite the revenue decline, Urja Global managed to post a net profit of Rs 4.15 crores for the quarter.

Segment-wise Performance

Urja Global operates in three segments:

1. Electric Vehicles
2. Renewable Energy
3. Batteries

The Electric Vehicles segment emerged as the largest revenue contributor, although specific segment-wise figures were not disclosed in the report.

Regulatory Challenges and Liabilities

The company faces several regulatory challenges and outstanding liabilities:

The auditor's review highlighted significant concerns, including the lack of documentation for Rs 463.53 crores in mine project investments, which the company attributes to GST department raids in 2021.

Legal and Regulatory Notices

Urja Global is grappling with multiple legal notices and regulatory challenges:

1. SEBI has imposed penalties totaling Rs 90.00 lakhs for non-compliance with disclosure norms.
2. The company faces various GST demand orders amounting to over Rs 80.00 crores.
3. Outstanding tax liabilities include Rs 6.24 crores in income tax and Rs 8.52 lakhs in TDS.

Management Response

While the company has not provided detailed comments on these issues in the financial results, it has stated that it is responding to all notices within the provided time limits and is pursuing appeals against certain orders.

Conclusion

Urja Global Limited's Q2 results present a complex picture of a company navigating financial performance amid significant regulatory and compliance challenges. The substantial pending liabilities and ongoing legal notices pose considerable risks to the company's financial health and operational stability. Investors and stakeholders will likely be watching closely to see how Urja Global addresses these challenges in the coming quarters.