TLTransrail Lighting544317Routine director change

Board considers three senior appointments; two SMPs cease on retirement and resignation

Board meet 3 Nov 2026: 3 SMP appointments, 2 exits.

By ScoutQuest · Tue 3 Nov 2026, 7:06 PM IST · 3 min read

SMP appointments

Harsh Narang (VP, Civil), Prashant Thorat (SVP, Poles & Lighting), Unmesh Nerkar (SVP, Supply Chain)

SMP exits

Anant Kadiwal, President (Civil) retired; Ashok Rawat, VP (Poles & Lighting) resigned

Board meeting date

3 Nov 2026

What the board took up

The board meeting held on Tuesday, November 3, 2026 covered two sets of items: the unaudited financial results for the quarter and half year ended September 30, 2026, and changes in the senior management team. The meeting commenced at 3.35 p.m. and concluded at 5.32 p.m.

Senior management changes

• Mr. Harsh Narang, Vice President (Civil Business), was considered for appointment as Senior Management Personnel (SMP) of the company.
• Mr. Prashant Thorat, Senior Vice President (Poles & Lighting Business), was considered for appointment as SMP.
• Mr. Unmesh Nerkar, Senior Vice President (Supply Chain Management), was considered for appointment as SMP.
• Mr. Anant Kadiwal, President (Civil Business), attains the prescribed retirement age and will retire from that position; he consequently ceases to be an SMP.
• Mr. Ashok Rawat, Vice President (Poles & Lighting Business), has resigned from that designation and also ceased to be an SMP.

September quarter at a glance (standalone, figures in Rs. crore)

• Revenue from operations: 2,030.88 for the quarter ended September 30, 2026, against 1,537.91 in the same quarter a year earlier.
• Profit for the period: 104.70, against 91.81 a year earlier.
• Revenue from operations for the half year ended September 30, 2026: 3,731.35.
• The statutory auditors issued an unmodified limited review report on the standalone results, and the results were approved and taken on record by the board.

Emphasis of matter in the auditor's review

The auditors referred to a note on search and seizure operations conducted by the Income-tax department and a block return shared by the company for the period April 1, 2019 to March 29, 2026. As stated there, the company has paid tax of Rs. 14.30 crores for that period towards an incorrect claim on account of expenses. The note records that no assets were attached or surrendered, that the block assessment proceedings are ongoing, and that management, after considering available records and facts, is of the view that there would not be any further material adverse impact on the financial position and that no further adjustments would be required. The auditor's conclusion is not modified on account of this matter.

Other items on record

• Interim dividend of ₹ 3 per equity share was declared by the board at its meeting held on July 28, 2026 for the financial year ending March 31, 2027.
• The board approved a proposal to raise funds by issuing equity shares and/or other eligible securities for an aggregate amount not exceeding ₹ 600 crore through a Qualified Institutions Placement; shareholders approved the QIP by Postal Ballot on September 10, 2026.
• Stock options were granted to eligible employees under the Transrail Lighting Limited Employee Stock Option Plan – 2023, and the Nomination and Remuneration Committee and board later approved an amendment to cancel part of that grant where a performance benchmark was not met.
• The company's operations are categorised in one segment, Engineering, Procurement and Construction business (EPC).

How to read this

For a retail reader, the announcement is mainly about who runs key businesses: three senior roles get formal SMP status, while the Civil Business head retires and the Poles & Lighting Business head exits. Separately, the results show the revenue and profit base for the quarter, the auditor flagged an income-tax matter while keeping the review conclusion unchanged, and the company has shareholder approval for a fund raise of up to the stated ceiling.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

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