POPowerica544744Strategic exit plan

Sale of 49% of Windstride to GE Renewable R&D; Windstride to stay a subsidiary

Board approved sale of 1,22,500 equity shares of Windstride Power — 49% of its paid-up capital — to GE Renewable R&D India.

By ScoutQuest · Thu 5 Nov 2026, 9:48 PM IST · 2 min read

Stake sold in Windstride Power

1,22,500 equity shares — 49% of its paid-up capital — to GE Renewable R&D India

Q2 revenue from operations

Rs. 764.99 crore

Q2 PAT

Rs. 64.49 crore

The board of Powerica Limited met on November 05, 2026 and approved, among other items, the sale of 49% of its wholly owned subsidiary Windstride Power Private Limited to GE Renewable R&D India Private Limited.

Stake sale in Windstride

• 1,22,500 equity shares of Windstride, representing 49% of its paid-up share capital, are being sold to GE Renewable R&D India Private Limited.
• Windstride will cease to be a wholly owned subsidiary with effect from the date of transfer of shares.
• The Company will continue to hold 51% of the equity share capital of Windstride, and Windstride will continue to remain a subsidiary of the Company.

What this means

A wholly owned subsidiary is one where the parent holds the entire share capital. After this transfer, a partner holds 49%, so ownership is shared, but the Company keeps majority control at 51% and Windstride remains part of the group as a subsidiary.

Other items from the same board meeting

• Unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026 were considered and approved; the statutory auditors expressed an unmodified opinion in their limited review.
• The statement of deviation or variation on utilisation of funds raised through the Initial Public Offer for the quarter ended September 30, 2026 was placed before the board.
• A postal ballot notice is planned for shareholder approval to grant a loan to Windstride Power Private Limited; the notice will be sent to shareholders in due course.
• The insider trading code of conduct and the fair disclosure policy for unpublished price sensitive information were amended.
• Key managerial personnel were authorised for making disclosures and update intimations with the stock exchanges.

Results snapshot (standalone, Rs. in Crores)

• Revenue from operations for the quarter ended September 30, 2026 was 764.99, against 664.65 in the quarter ended September 30, 2025.
• Profit after tax for the quarter ended September 30, 2026 was 64.49, against 36.31 in the quarter ended September 30, 2025.
• Earnings per share, basic and diluted and not annualised, was 5.06 for the quarter ended September 30, 2026.

Points to keep in mind

• The transaction is a sale of shares held by the Company in Windstride; Windstride itself remains a subsidiary, so control stays with the Company.
• The Company has stated that the figures for the quarter ended September 30, 2025 were approved by the board but were not subjected to review, since the requirement of submitting quarterly results became applicable from the quarter ended December 31, 2025.

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