South West Pinnacle Exploration Ltd

Order details

• Awarding entity: Odisha Lift Irrigation Corporation Limited (OLIC), a domestic entity.
• Nature and scope: installation, electrification, energisation and commissioning of 500 deep borewells in Odisha.
• Value: Rs. 18.71 crores including GST.
• Execution period: 180 days.
• Initial security deposit: 2% within 7 days; 18-month guarantee from completion.
• Promoter/group interest: none; not a related-party transaction.

Summary

• Target: South West Pinnacle Exploration Limited
• Discloser: Vikas Jain and Piyush Jain (Promoters)
• Transaction type: Acquisition via warrants; disposal via open market
• Pre-holdings: 1,93,72,963 voting rights; 22,69,288 warrants; total 2,16,42,251
• Acquired 22,69,288 equity shares via warrants on 10/07/2026
• Disposals: 1,11,651 shares via open market on 29/06/2026 and 30/06/2026
• Post-holdings: 2,15,30,600 voting rights; 65.94%
• Dates: 29/06/2026; 30/06/2026; 10/07/2026
• Share capital: Before Rs 29,83,00,110; After Rs 32,65,14,220; diluted Rs 32,65,14,220

Letter of Award

• SWPE received LOA from CMPDI, a Mini Ratna PSU and Coal India subsidiary, for coal exploration in Jharkhand.
• Aggregate value including GST is ~₹6.64 crore, with project completion within 180 days.

Financial results

• Unaudited standalone and consolidated results for quarter ended June 30, 2026 approved with Limited Review Report.

Director re-appointments

• Vikas Jain re-appointed as Chairman and Managing Director for 3 years from November 20, 2026, subject to AGM.
• Piyush Jain re-appointed as Joint Managing Director for 3 years from November 20, 2026, subject to AGM.
• Meenakshi Anand re-appointed as Independent Director for 3 years from August 14, 2026, subject to AGM.
• Shivi Sabharwal re-appointed as Independent Director for 3 years from August 14, 2026, subject to AGM.
• Rajendra Prasad Ritolia re-appointed as Non-Executive Director for 3 years from August 12, 2027, subject to AGM.

Governance documents

• Board Report, Corporate Governance Report, and MD&A for FY 2025-26 approved.

AGM notices and e-voting

• Draft Notice for 20th AGM and record date approved.
• NSDL appointed for remote e-voting; Scrutinizer appointed.

Auditor remarks

• Independent Limited Review Reports issued; going concern caveat for SW Resources noted with holding support.

Regulatory/coal block update

• Coal block allocation noted; coal segment to be reported separately; GR submission due by end-July 2026.

Meeting Details

• Date and time: Wednesday, July 22, 2026, at 04:00 PM IST.
• Type and mode: conference call hosted virtually by Valorem Advisors.
• Organiser: Valorem Advisors for the Q1 FY27 earnings discussion.
• Purpose: Discuss Q1 FY27 earnings of South West Pinnacle Exploration.
• Key company participants: Vikas Jain (Promoter, MD & Chairman); Piyush Jain (Co-Promoter & Joint MD).

Meeting Details

• Board meeting scheduled for July 20, 2026 at 04:30 PM via Google Meet.

Key Agenda Items

• Unaudited standalone and consolidated financial results for quarter ended June 30, 2026 with Limited Review Report.
• To discuss ongoing business propositions or any other business with the chair's permission.

Other Notes

• Trading window closed from July 1, 2026 until 48 hours after results declaration; reopens July 23, 2026.