Torrent Power Ltd

Key Managerial Changes

• Saurabh Mashruwala resigns as CFO and KMP due to planned retirement; effective Aug 20, 2026.
• Vikas Poddar appointed CFO and KMP, effective Aug 21, 2026.
• Mashruwala ceases to be KMP authorized for materiality disclosures from Aug 20, 2026.
• Poddar authorized for materiality disclosures from Aug 21, 2026.
• Background on Poddar: MBA (NUS), CA, 27+ years; ex-CFO at Indus Towers.
• Board meeting held Aug 20, 2026 to approve changes.

SPV incorporations

• SPVs: Torrent Urja 50 Private Limited and Torrent Urja 51 Private Limited.
• Incorporated in India on August 19, 2026, registered with ROC Ahmedabad, Gujarat.
• Holding company: Torrent Green Energy Private Limited; SPVs 100% held by TGEPL.
• Industry: electricity generation from renewable energy, including hydrogen and derivatives.
• Cash consideration; ₹5 lakh per SPV for 50,000 shares of ₹10.
• Shareholding: 100% of SPVs; Torrent Power holds via TGEPL.
• Purpose: to conduct hydrogen, power generation, transmission, and related trades.
• Regulatory approvals: not applicable.
• Timeline: incorporation completed on August 19, 2026.
• Background: SPVs will handle hydrogen, ammonia, and energy storage.
• Aligned with Torrent Power's renewable energy strategy.
• Incorporation country: India; ROC Ahmedabad.
• SPVs are 100% owned by Torrent Green Energy Private Limited, a wholly owned Torrent Power subsidiary.

Meeting Details

• New date and time: Aug 26, 2026, 09:00 IST.
• Type/Mode: Analyst/Investor meet, in-person.
• Event: Analyst/Investor Meet; organiser: Torrent Power (issuer).
• Key company participant: Company Secretary & Compliance Officer.
• Purpose: Schedule update for Analyst/Investor Meet under SEBI LODR.

Investor Conference

• Date & Time: Monday, August 17, 2026, 12:00 IST.
• Type: Investor conference.
• Organizer: Goldman Sachs.
• Conference: INDIA Energy Security & Grid Resilience Corporate Day (Virtual).
• Mode: Virtual.
• Key company participants: Company representatives (management).

Analyst/Investor Meeting

• Date & Time: Friday, August 21, 2026, 10:00 IST.
• Type: One-on-one meeting.
• Analyst/Investor: Investec.
• Mode: In Person (Ahmedabad).
• Key company participants: Company representatives.

Meeting Details

• Board meeting scheduled for August 3, 2026.
• Time and location not disclosed.

Key Agenda Items

• Consider and approve unaudited standalone and consolidated quarterly results for the quarter ended June 30, 2026.

AGM notice and KYC updates

• AGM scheduled for Aug 3, 2026 at 9:30 am IST via VC/OAVM.
• Notice and Integrated AR for FY 2025-26 sent electronically to registered emails.
• Unregistered members receive web-link to access Integrated AR.
• Path: Investors -> Financial Information -> 2025-26 -> Annual Reports on company site.
• KYC updation reminder issued; PAN, address, mobile, bank details required.
• Physical shareholders may not receive payments until KYC is updated.
• RTA helpdesk contact provided for electronic service requests.
• Notice issued July 10, 2026; SEBI LODR intimation dated July 13, 2026.

Overview

• Consolidated BRSR for FY2025-26 covers Torrent Power and its subsidiaries.
• Main activities: thermal and renewable power generation, transmission and distribution.

Key ESG Risks & Opportunities

• Climate adaptation offers opportunity to improve reliability and long-term value.
• Energy/emissions risk from tighter norms; plan Scope 3 disclosures and more renewables.
• Diversity, equity and inclusion presents opportunities with women representation goals.
• OHS and engagement risks; training and governance mitigate safety and skill gaps.
• Green hydrogen manufacturing planned by 2030 to diversify revenue.
• Innovation and digitalisation enhance efficiency, forecasting, automation, and customer service.
• Supply chain disruptions risk; ESG screening and sustainable procurement ongoing.

Governance & Policy Highlights

• CSR & Sustainability Committee provides board-level ESG oversight.
• Policies cover nine NGRBC principles; most policies board-approved; HR policies exceptions noted.
• Whistle-blower, anti-bribery and RPT policies in place with policy access links.
• Grant Thornton provides assurance on BRSR Core; Deloitte internal ESG strategy review.
• Certifications include ISO 9001, 14001, 45001; ISO 50001 and 27001; EFQM 6-Star; NABL labs.
• Double Materiality Assessment completed; guides strategic commitments and targets.
• Public advocacy policy not applicable; engagement via industry associations.

Social Responsibility & Workforce

• Total employees 8,304; permanent 8,173 and workers 16,277.
• Board women representation at 2 of 9; no women among KMPs.
• Turnover: permanent ~9.4%; workers ~7.6% (FY25-26).
• LTIFR: employees 1.28; workers 0.66; no employee fatalities reported.
• 100% board, 90% KMP and 74% workers trained on health and safety topics.

Environmental Performance

• Total energy consumption ~56.996 million GJ; renewables contribute 13,505 GJ.
• GHG emissions: Scope 1 4.18 MtCO2e; Scope 2 1.36 MtCO2e.
• ZLD implemented 100% across generation units; treated effluent recycled for plant use.
• Total waste generated ~498k tonnes; substantial recycling/reuse; limited disposal.
• Renewable capacity: 2,002 MWp operational; 3,950 MWp under construction; ~56% renewables share in capacity.
• CDM reductions ~8.5 MtCO2e/year; cumulative ~26 MtCO2e; I-REC reductions ~0.3 Mt; cumulative ~1.6 Mt.

Stakeholder Engagement & Complaints

• Stakeholders: customers, investors, regulators, communities, suppliers; engagement quarterly or as required.
• CSR engagement includes annual community needs assessments and focus on vulnerable groups.
• Complaints filed FY25-26: investors 84; shareholders 57; customers 15; value chain 1.
• Grievance mechanisms: IGRC, CGRF, Ombudsman; SAP central tracking; open-door and Whistle Blower channels.
• Customer safety communications and multi-channel feedback mechanisms support service improvement.

Other Notable Metrics

• Inputs: 93.16% sourced from India; 11.96% from MSMEs; 394 trading houses; top 10 suppliers 70% of purchases.
• Related-party purchases 2.48% of total; related-party sales 0%; comprehensive RPT governance.
• Cyber security: ISO 27001; policy aligned with DPDP Act; no data breaches reported.
• Public policy: company does not lobby; engages via trade associations with sectoral input.
• CSR in aspirational districts not pursued; 30% supplier ESG response rate; 100% value-chain safety assessments.