Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Termination of Agreements with Radiance MH Sunrise Thirteen Private Limited
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Grindwell Norton Limited has mutually terminated its Power Purchase Agreement and Share Subscription Agreement with Radiance MH Sunrise Thirteen Private Limited. The agreements were for sourcing green energy through a group captive solar power generation arrangement. The termination was effective April 9, 2026, and follows the company's earlier disclosures in July and September 2024. The reason for termination is that the Power Producer Company failed to meet its Commercial Operation Date obligations under the Power Purchase Agreement, making the intended arrangement no longer viable. The company has explicitly stated that there is no material impact on its financials or operations due to this termination.
The termination carries no material financial or operational impact for Grindwell Norton. The deal was a green energy sourcing initiative that never materialized, so the cancellation removes an unrealised commitment rather than disrupting existing business.