Premier Energies Limited has informed the Exchange regarding Resignation of Mr Ravella Sreenivasa Rao as Company Secretary & Compliance Officer of the company w.e.f. May 15, 2026.
PREMIERENE · price
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On the reaction day the stock moved in line with Nifty Midcap 150 and 1.3 pts more than its Other Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Premier Energies Limited held its Board Meeting on May 15, 2026, approving multiple business matters. Mr. Ravella Sreenivasa Rao resigned as Company Secretary and Compliance Officer effective close of business on May 15, 2026, citing internal transition and realignment within the group structure. Mr. Hitesh Kumar Jain, a seasoned professional with over 25 years of experience including roles at Stellantis India and Reliance Industries, has been appointed as his replacement effective May 16, 2026. The company also reported strong FY26 consolidated financials with revenue of Rs. 78,243.74 million (up 20% YoY) and profit after tax of Rs. 15,096.89 million (up 61% YoY). The Board approved raising funds up to Rs. 5,000 Crores through QIP or other permissible modes, and re-appointed Deloitte Haskins & Sells as Statutory Auditors for another 5-year term.
The resignation and immediate appointment of a replacement Company Secretary appears routine given the clean transition and stated internal restructuring rationale. The strong financial performance and planned fund raise of Rs. 5,000 Crores for expansion purposes are positive signals for shareholders.