New Independent Director appointed; JV for green energy; water plant deal
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Board appointed Prof. (Dr.) Gurudayal Singh Toteja (ex-ICMR, 40+ years in public health) as Non-Executive Independent Director for 5 years from July 18, 2026. Also approved a Joint Venture with Globalone Enterprises for the HYMAX Green Energy Project, starting with a POC of 10 systems costing Rs 3 crore (75% funded by company). Separately, approved a Business Operation and Management Agreement with The Cloud Water to run its packaged drinking water plant; the company will bear all costs and receive 100 percent of net profits.
Adds experienced independent director to the board. New forays into green energy and packaged drinking water could diversify revenue but execution risk remains.