Sugs Lloyd Ltd

AGM Details

• AGM held 30 Sep 2026 at 2:00 PM via VC/OAVM; concluded 2:53 PM; e-voting to 3:08 PM.
• Attendance: 25 Members attended via VC/OAVM; 2 promoter group, 23 public.

Resolutions

• Item 1: Ordinary—adoption of standalone and consolidated financial statements; outcome not disclosed.
• Item 2: Ordinary—re-appointment of Kapil Dev Marwah by rotation; outcome not disclosed.
• Item 3: Special—increase borrowing powers to ₹600 crore; outcome not disclosed.
• Item 4: Special—create charge/mortgage on assets for borrowings; outcome not disclosed.
• Item 5: Special—loans/guarantees/securities/investments up to ₹600 crore; outcome not disclosed.
• Item 6: Special—loans/guarantees/securities to entities in which directors are interested within overall limit; outcome not disclosed.

Order win details

• LOA awarded for a 2 MW AC ground-mounted solar project at The Golden Temple, Amritsar.
• Total project value ₹8.90 crore, inclusive of GST and 10-year maintenance.
• Scope includes design, supply, installation, testing, commissioning, plus 10-year maintenance.
• Completion by 31 December 2026; miscellaneous work within five months from LOA date 28 September 2026.
• Management commentary: order strengthens order book; 10-year maintenance extends engagement beyond commissioning.

Sugs Lloyd Ltd - Trading window closed from October 1, 2026; will reopen 48 hours after the announcement of the Unaudited financial results for the half year ended September 30, 2026.

Order details

• Awarding entity: Sachkhand Sri Harmander Sahib, Golden Temple, Amritsar.
• Scope: Design, Supply, Installation, Testing & Commissioning of 2 MW (AC) ground-mounted solar project.
• Contract includes a 10-year Comprehensive Annual Maintenance Contract (CAMC).
• Total value: ₹8.90 crore, inclusive of GST.
• Timing: Project execution up to 31 December 2026; remaining works within 5 months of LOA.
• Promoter/group interest: No.

Order details

• Awarding entity: Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA).
• Nature of order: Supply, installation and commissioning of 2,500 units of 18W solar street lights.
• Total value: ₹4,68,27,000; tax details not stated.
• Domestic entity: The awarding entity is domestic.
• LOI date: 23 September 2026.
• Time period: Five-year comprehensive maintenance warranty.
• Related party: No related party transaction.
• Material impact: No explicit material impact disclosed.

Contract award

• Letter of Award dated 21 September 2026 for RDSS works in Punjab valued at ₹213.48 crore.
• Faridkot Circle award ₹89.88 crore; Gurdaspur Circle ₹123.60 crore.
• SUGS Lloyd to execute balance works as subcontractor to Marshal Enterprises; PSPCL approval obtained.

Scope and timeline

• Completion expected within 15 months from award date.
• Scope includes supply, installation, testing and commissioning for LT/HT RDSS projects.

Impact and outlook

• Strengthens the company’s order book and revenue visibility during the execution period.
• Expands presence in Punjab and strengthens credentials for future power distribution projects.

Management remarks

• MD commentary notes focus on mobilisation, quality work and disciplined execution.

Order details

• Awarding entity: M/s Marshal Enterprises.
• Nature and scope: LT and HT infrastructure loss reduction works under RDSS in Punjab.
• Order value: Rs 213,47,86,468 including GST.
• Execution deadline: 15 months from LOA issuance.
• Domestic entity: Yes.
• Related party: No; promoter interests: None.
• Significant terms: As per Letter of Award.

AGM Details

• AGM on 30 September 2026 at 2:00 PM IST via VC/OAVM.
• Deemed venue: Registered Office of the Company.
• Register of Members closed 24-30 September 2026.
• Remote e-voting available 27-29 September 2026.

Ordinary Business

• Adopt Audited Standalone Financial Statements for year ended 31 March 2026.
• Adopt Audited Consolidated Financial Statements for year ended 31 March 2026.
• Re-appointment of Kapil Dev Marwah, retiring by rotation.

Special Resolutions

• Increase borrowing powers to ₹600 crore.
• Create mortgage/charge or security up to ₹600 crore.
• Increase Section 186 limits to ₹600 crore for loans/investments.
• Authorize financial assistance to subsidiaries/entities up to ₹600 crore under Section 185.

Director Details

• Kapil Dev Marwah: Executive Director, to be re-appointed; tenure till 10 June 2029.
• Remuneration unchanged; last drawn ₹2,40,000 in FY2025-26.
• First appointed on 23 February 2022; holding 5 Equity Shares.
• Other directorships: Sugs Lloyd Staffing Private Limited.

Financials FY26

• Revenue from operations ₹300.7 cr, up 71% YoY.
• EBITDA ₹43.55 cr, margin 14.5%.
• PAT ₹28.69 cr, margin 9.5%.
• EPS ₹14.19 (diluted).
• IPO strengthened capitalization; shareholders’ funds ₹137.2 cr; debt ₹68.9 cr; debt-equity 0.50x.
• Standalone revenue mix: Solar EPC ₹156.49 cr, Power T&D ₹139.18 cr, Civil ₹4.10 cr.

Operations & Verticals

• Three core verticals: Solar EPC, Power T&D, Civil.
• Niche products: FPIs, DAS, OMS/DMS; ADMS evolution.
• Large SCADA project with Konkan Railway valued at ₹540 cr net.
• Growing emphasis on transmission, smart-grid, and product-led work.

Order book & Pipeline

• Order book at year-end ₹825 cr; 18–24 months visibility.
• Qualified bid pipeline about ₹1,300 cr; larger tenders in smart-grid, SCADA.

Capital & Listing

• Listed on BSE SME on 5 Sep 2025.
• IPO of 69.64 lakh shares at ₹123; net proceeds ₹85.66 cr.
• Equity capital post-IPO ₹232.14 lakh; shareholders’ funds ₹137.2 cr; borrowings ₹68.9 cr.

Governance & Board

• Board: six directors, including three independent; Ghanshyam Gavali resigned 27 Oct 2025.
• Independent Directors meeting held 27 Oct 2025; Board met 21 times; Audit Committee met 8 times.

Working capital & Liquidity

• Receivables ₹159 cr; collections around 139 days; Q4 billing concentration.
• IPO proceeds funded working capital; focus on tighter collections and bill discounting.
• Operating cash flow negative; current ratio improved to 1.7x.

Related Party Transactions

• Material RPT: Associate Vyna Electric; short-term borrowings ₹499.47 cr; remuneration to directors.
• RPTs are at arm’s length; disclosures in notes to financial statements.

CSR & ESG

• CSR spend ₹25.00 lakh; average net profit ₹12.50 cr; CSR obligation ₹24.96 lakh.
• CSR policy and committee active; Shudh Jal and water-security initiatives highlighted.

Audit & Controls

• Statutory auditors: Ratan Chandak & Co. LLP; Secretarial: Pramod Kothari & Co.; internal: Singh Pradeep & Associates.
• Audit reports: unqualified; internal controls adequate; no fraud reported.