Urja Global Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 24, 2025
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Awaiting price reaction for this filing.
Urja Global held its 33rd AGM on September 24, 2025 via video conferencing. The Chairman shared the company's plans, including obtaining Solar PAN-India registration, expanding EV manufacturing to South and East India, launching the 'Urja Rath Campaign' on September 9, 2025, and working on a hydrogen-powered scooter prototype. The company announced plans to raise up to 500 million USD to set up an integrated manufacturing facility in Rajasthan covering solar, batteries, electric vehicles, and charging stations. For FY 2024-25, standalone revenue grew 16.20% to Rs. 5,032.86 Lakhs with a profit after tax of Rs. 144.12 Lakhs, while consolidated revenue grew 51.22% to Rs. 6,724.73 Lakhs with a group profit of Rs. 138.18 Lakhs. The auditor's report carried qualifications related to reversal of input credits and lack of documentary evidence for investment in projects. Shareholders approved all resolutions, including the adoption of financial statements, re-appointment of the Managing Director, appointment of a new Independent Director, and a special resolution for raising funds.
The strong consolidated revenue growth of over 51% is a positive signal, but the auditor's qualifications and the need to raise up to $500 million could weigh on the stock in the short term. The ambitious expansion into solar, EVs, and hydrogen may offer long-term growth potential if execution goes as planned.