Rajesh Power Services Ltd

NZ subsidiary incorporation

• Incorporation of Rajesh Power Services NZ Limited as a 100% wholly owned foreign subsidiary.
• Date of incorporation confirmed as August 14, 2026.
• Subscribed capital is 100% holding; turnover Nil.
• Industry: Power Transmission and Distribution.
• Objects: Electrical and Solar EPC for Power Transmission and Distribution.
• Consideration: cash subscription to initial share capital.
• Shareholding in NZ subsidiary: 100%.
• Promoter group has no direct interest beyond Rajesh Power Services Ltd.
• Related party transaction under holding relationship.

Resigning director and committee impact

• Name and designation: Viral Deepakbhai Ranpura, Independent Director.
• Type of directorship: Independent Director.
• Effective date of resignation: 11 August 2026.
• Reason for resignation: personal and medical occupancy.
• No other material reasons beyond those stated.
• Cessation from Audit Committee, Nomination & Remuneration Committee, Stakeholders Relationship Committee, and CSR Committee.
• Nil disclosed for other listed entities.
• No regulatory or shareholder approval requirement indicated.
• No interim replacements announced.

Order details

• RVPNL awarded a turnkey contract for 132/33 kV GIS substation at Pal, Jodhpur.
• Scope includes transmission line, survey, equipment supply, erection, testing and commissioning.
• Contract value Rs. 75.05 crores, including taxes; execution in 18 months.
• Domestic entity; no promoter group interest; no related party transactions.

Dematerialisation status

• Regulation 74(5) not applicable; entire holding is in demat form.
• No dematerialisation requests were received during the quarter ended 30 June 2026.

PGVCL order

• Domestic order from PGVCL for SCADA readiness and RMU maintenance; Rs 21.57 crore incl. taxes; 12-month term.

RVPNL order

• Domestic RVPNL order to convert 220kV line to underground with monopole; Rs 12.80 crore incl. taxes; 9 months.

Related party interest

• No promoter group interest; no related party transactions.

Q1 FY26-27 Highlights

• Revenue from operations: Rs 436.62 crores (unaudited) for Q1 FY26-27.
• Unexecuted order book as of 30 Jun 2026: Rs 3,741.79 crores (including L1).
• Odisha project win: ₹211.68 crore from OPTCL for 220 kV underground transmission cable.
• Gujarat award: ₹653.12 crore from PGVCL for underground distribution with GIS mapping in Bhavnagar, Anjar, Junagadh, Porbandar.
• Credit rating outlook updated to CRISL A- with Positive outlook (from Stable).

Meeting Details

• Date: July 18, 2026; in-person group meeting at SME Investor Conference, Surat.
• Event: Finavenue x Torin Wealth SME Investor Conference.
• Interaction with investors/analysts: with various investors.

Participants

• Company-side participant: Company Secretary & Compliance Officer.

Purpose

• Purpose: investor interaction at SME Investor Conference.

Rating action and ratings

• Long-Term rating: Crisil A-/Positive; Outlook revised from Stable; rating reaffirmed.
• Short-Term rating: Crisil A2+; reaffirmed.
• Total bank loan facilities rated Rs 363 crore; enhanced from Rs 263 crore.
• Rating agency: Crisil Ratings Limited.
• Validity: rating letter valid till 31 March 2027.
• Outlook: Positive on long-term rating.
• Material change since last rating: Outlook revision and facility enhancement.
• Rationale: ongoing surveillance; ratings may be revised or withdrawn on new information.
• Annexure: bank-wise facility details.

Instruments and facilities

• Bank guarantees totaling Rs 212 crore rated A2+.
• Cash credits totaling Rs 151 crore rated A-/Positive.
• Banks involved: HDFC Bank, Union Bank of India, ICICI Bank.
• Total facilities: Rs 363 crore across 7 facilities.
• Annexure: Bank-wise details in accompanying table.

Contract win from PGVCL

• Secured new orders worth ₹653.12 crore (incl. taxes) from PGVCL.
• Projects involve conversion of 11kV HT/LT lines to underground with GIS mapping and asset tagging.
• Geographic scope includes Bhavnagar, Anjar, Junagadh and Porbandar circles, Gujarat.
• Management notes this strengthens leadership in underground power distribution and long-term stakeholder value.

Order details

• Awarding entity: Paschim Gujarat Vij Company Limited (PGVCL).
• Turnkey conversion of 11kV HT/LT lines to underground network in Bhavnagar, Anjar, Junagadh, Porbandar with Ring Main System.
• Value: Rs 653.12 crores including taxes.
• Domestic entity: PGVCL.
• Execution period: 18 months.
• Contract terms: Turnkey; GIS mapping and asset tagging.
• Related party interest: No.