Appointment of Company Secretary and Compliance Officer
PREMIERENE · price
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Premier Energies Ltd held its Board Meeting on May 15, 2026, approving multiple key business decisions. The company reported strong audited financial results for FY26 with revenue from operations growing 20% to Rs 78,243.74 million from Rs 65,187.45 million in FY25. Profit after tax surged 61% to Rs 15,096.89 million from Rs 9,371.32 million, indicating significant margin expansion. The Board also approved raising funds up to Rs 5,000 crores through QIP or other permissible modes. In leadership changes, Mr. Ravella Sreeenivasa Rao resigned as Company Secretary and Compliance Officer due to internal restructuring, with Mr. Hitesh Kumar Jain (a seasoned professional with 25+ years experience including roles at Stellantis India, ONGC Mangalore, and Reliance Industries) appointed in his place effective May 16, 2026. Deloitte Haskins & Sells was re-appointed as Statutory Auditors for a second 5-year term, and Protiviti India was re-appointed as Internal Auditor for FY26-27. The statutory auditors issued an unmodified (clean) opinion on the financial results.
The company demonstrated robust financial performance with over 20% revenue growth and 61% PAT growth, indicating strong operational execution. The clean audit opinion and appointment of an experienced Company Secretary strengthen corporate governance. The Rs 5,000 crore fund-raising approval provides capital for future expansion plans.