Board approves Q2 results, sale of 49% in Windstride to GE Renewable and loan to subsidiary
Board approved unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026; the auditors' limited review conclusion is unmodified.
By ScoutQuest · · 3 min read
- Q2 Revenue from Operations
- Rs. 764.99 crore for the quarter ended September 30, 2026
- Q2 Profit After Tax
- Rs. 64.49 crore, against Rs. 36.31 crore in the year-ago quarter
- Stake Sale in Subsidiary
- 1,22,500 equity shares (49%) of Windstride Power to GE Renewable R&D India; Powerica keeps 51%
Quarter and half year results (standalone)
- Revenue from operations for the quarter ended September 30, 2026 was Rs. 764.99 crore, against Rs. 664.65 crore shown for the quarter ended September 30, 2025.
- Total income was Rs. 772.28 crore; Profit before tax Rs. 88.83 crore and Profit after tax Rs. 64.49 crore, against Profit after tax of Rs. 36.31 crore in the year-ago quarter.
- For the six months ended September 30, 2026, Revenue from operations was Rs. 1,493.26 crore and Profit after tax Rs. 124.44 crore.
- Earnings per share (face value Rs. 5 each, basic and diluted, not annualised) was Rs. 5.06 for the quarter and Rs. 9.81 for the six months.
- Total assets on the standalone balance sheet were Rs. 3,085.95 crore as at September 30, 2026, against Rs. 3,749.65 crore as at March 31, 2026; non-current borrowings are shown as nil against Rs. 485.76 crore.
Auditor's review
Kapoor & Parekh Associates, Chartered Accountants, issued limited review reports on both the standalone and consolidated unaudited results, concluding that nothing has come to their attention that causes them to believe the statements contain any material misstatement. The conclusion is not modified. The reports note that the figures for the corresponding quarter and period ended September 30, 2025 were approved by the Board but were not subjected to review, as the company was listed in April 2026 and the requirement of quarterly results with limited review applied from the quarter ended December 31, 2025.
Windstride Power stake sale
- Powerica sold 1,22,500 equity shares of Windstride Power Private Limited, its wholly owned subsidiary, representing 49% of its paid-up share capital, to GE Renewable R&D India Private Limited.
- Windstride will cease to be a wholly-owned subsidiary from the date of transfer of shares.
- Powerica will continue to hold 51% of the equity share capital of Windstride, which will therefore remain a subsidiary of the company.
Postal ballot on loan to subsidiary
The Board approved a postal ballot notice seeking shareholders' approval for granting a loan to Windstride Power Private Limited, a subsidiary of the company. The notice will be sent to shareholders in due course.
Initial Public Offer proceeds
- The IPO comprised 2,78,53,058 equity shares of face value Rs. 5 each at an issue price of Rs. 395 per equity share, made up of a fresh issue of 1,77,26,477 equity shares and an offer for sale of 1,01,26,581 equity shares by selling shareholders.
- Gross proceeds: Rs. 700.00 crore; net proceeds: Rs. 661.51 crore.
- Utilised up to September 30, 2026: Rs. 554.30 crore; unutilised: Rs. 107.21 crore.
- Object-wise: prepayment/repayment of certain outstanding borrowings Rs. 525.00 crore (fully utilised); general corporate purposes Rs. 136.51 crore, of which Rs. 29.30 crore utilised and Rs. 107.21 crore unutilised.
- Of the unutilised amount, Rs. 107.20 crore is temporarily invested in Fixed Deposits and Rs. 0.01 crore is held in the company's Monitoring account.
Policies and authorised persons
- The Board approved amendments to the Policy on Code of Conduct for regulating, monitoring and reporting of trading by insiders, and to the Policy on Code of practices and procedures for fair disclosure of unpublished price sensitive information. The amended policies will be available on the company's website.
- Mr. Jai Ram Oberoi (Whole-time Director), Mr. Ritesh Kumar Agrawal (Group Chief Financial Officer) and Ms. Anita Renuse (Company Secretary & Compliance Officer) were authorised for making disclosures and update intimations with the stock exchanges.
The Board meeting commenced at 05:30 p.m. and concluded at 06:30 p.m. A press release and investor presentation on the results form part of the disclosures.
Also from Powerica
Sale of 49% of Windstride to GE Renewable R&D; Windstride to stay a subsidiary
5 Nov 2026
Board approves sale of 49% in Windstride to GE Renewable R&D; Q2 profit at Rs. 64.49 crore
5 Nov 2026
Board meeting on November 05, 2026 to consider and approve Q2 and H1 FY27 results
29 Oct 2026
More numbers
- Revenue from operations, standalone, quarter ended Sep 30, 2026764.99
- Profit after tax, standalone, quarter ended Sep 30, 202664.49
- Profit after tax, standalone, six months ended Sep 30, 2026124.44
- Equity shares of Windstride Power sold1,22,500
- Windstride stake sold49%
- Windstride stake retained by Powerica51%
- Net proceeds of IPO661.51
- Unutilised IPO net proceeds as at Sep 30, 2026107.21
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