Powerica Limited has informed the Exchange regarding Outcome of Board Meeting held on April 21, 2026 with respect to appointment of Mr. Rabindra Nath Nayak as an Additional Director in the category of Non-executive Independent Director and reconstitution of committees.
POWERICA · price
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Powerica Limited held its Board Meeting on April 21, 2026, approving three key items. First, the company released its unaudited Q3 FY26 financial results showing consolidated revenue of Rs. 762.93 crores and profit after tax of Rs. 97.65 crores for the quarter, with nine-month consolidated revenue of Rs. 2,210.37 crores and PAT of Rs. 232.20 crores. Second, Mr. Rabindra Nath Nayak, former Chairman & MD of Power Grid Corporation of India Limited (PGCIL), was appointed as Additional Director in the category of Non-Executive Independent Director for a 5-year term, subject to shareholder approval via Postal Ballot. Third, Mr. Maheswar Sahu resigned as Independent Director effective April 16, 2026, and all three committees (Audit, Nomination & Remuneration, and CSR) were reconstituted accordingly.
The appointment of a highly experienced power sector veteran Mr. Nayak strengthens board governance and expertise in the power sector. The company also posted strong financial results with nine-month PAT of Rs. 232.20 crores, indicating robust performance ahead of its recent IPO listing in April 2026.