Board of Directors at their meeting held on May 28, 2026 approved the incorporation of Wholly Owned Subsidiaries
POWERICA · price
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Powerica Limited's Board meeting on May 28, 2026 approved the incorporation of two new Wholly Owned Subsidiaries (WOS) under the Companies Act, 2013. The company also reported audited standalone FY2026 results with revenue from operations of Rs. 2,594.09 Crores and profit after tax of Rs. 201.63 Crores, up from Rs. 141.68 Crores in FY2025. On a consolidated basis, revenue was Rs. 3,011.52 Crores with PAT of Rs. 277.31 Crores, compared to Rs. 172.19 Crores in the previous year. The company completed its IPO in April 2026, raising Rs. 700 Crores through fresh issue and Rs. 400 Crores via offer for sale. The audit committee was also reconstituted. The company already has five subsidiaries including Powerica Renewable Infra, Paramount Windfarms, Vartaman Wind Energy, Windstride Power, and Powerica Power Systems (FZE), plus one associate.
The WOS incorporation indicates corporate restructuring for business expansion or segregation, which could create future value for shareholders. The strong financial performance and successful IPO listing provide a solid foundation for the new subsidiaries.