Daily filing brief

10 Important BSE and NSE Announcements for 22 August 2026

By Daily BrieferPublished Updated

Adani Power’s capacity and self-funded capex plan lead the corporate announcements for 22 August 2026. MIDHANI’s Q1 financial performance and S400 testing milestone follow in this 10-item brief for investors.

  1. Adani Power Limited

    Adani Power: 18.33 GW capacity, 95% PPA-backed, self-funded capex plan; FY26 revenue USD 6.14B, EBITDA USD 2.65B

    Investor Presentation

    Operational Scale & Growth

    • Operating capacity: 18.33 GW across 9 states (Q1 FY27).
    • Over 90% of 18.15 GW capacity tied to PPAs.
    • BTG equipment pre-booked: 22.4 GW across projects.
    • Ongoing long-term PPA bids: 16,380 MW.

    Financial Performance

    • FY26 Revenue from operations: USD 6.14B.
    • FY26 EBITDA: USD 2.65B; PAT: USD 1.47B; EBITDA margin 40%.
    • Q1 FY27: Revenue USD 1.996B; EBITDA USD 0.884B; PAT USD 0.514B; EBITDA margin 43%.
    • FY26 FFO: USD 2.29B; aggregate FFO over 7 years ~ USD 16B.
    • Capex funding: ~USD 19B over 7 years; largely self-funded.
    • Balance sheet: Total assets USD 16.11B; Total equity USD 7.52B.
    • Net debt USD 5.03B; Net debt/EBITDA (TTM) 2.12x.

    Strategic Priorities & Outlook

    • Capex plan: USD 19-21B over 7 years, largely self-funded.
    • Execution engine PMAG and brownfield-first strategy to accelerate delivery.
    • 95% capacity tied under long-term PPAs; fuel linkages support revenue stability.
    • Ongoing long-term PPA bids: 16,380 MW; BTG supply chain: 22.4 GW booked.

    Governance & Leadership

    • Board: independent directors 40%; all statutory committees chaired by independents.
    • 83% of non-statutory committees chaired by independents; 17% independent directors on board.
    • Management to hold share ownership; IDs tenure up to 3 years for max 2 terms.
    • Minimum 4 training sessions per year for independent directors.

    Risks & Mitigation

    • Execution risk mitigated via brownfield model and PMAG.
    • Supply chain risk mitigated by 22.4 GW BTG pre-bookings and vendor ecosystem.
    • Fuel risk mitigated by DISCOM linkages, FSAs, and pass-through mechanisms.
    • Liquidity risk mitigated by strong cash flows and high liquidity.
    View source

  2. Mishra Dhatu Nigam Ltd

    MIDHANI Q1 FY27: LPG-related margin dip addressed; S400 testing milestone; order book at Rs 2,329 crore

    Earnings Call Transcript

    Financial Performance

    • Turnover: Rs. 239.49 crore in Q1; up 40.46% YoY.
    • Value of production: Rs. 260.36 crore; up 7.9%.
    • PBT: Rs. 23.92 crore; up 25.89%.
    • PAT: Rs. 16.31 crore; up 27.42%.
    • EBITDA: Rs. 46.6 crore; up 12.89%.
    • Order book on 1 Jul 2026: Rs. 2,329 crore.

    Operational Highlights

    • S400 GE certification enables in-house testing of mechanical, chemical, metallography.
    • NAS410/Nadcap testing qualification targeted by end of this financial year.
    • ISO 27001 and ISO 50001 certifications planned this year.
    • AI in metallurgy seminar on 17 July; exploring implementations.
    • Isothermal forging for fighter aircraft; orders for 4 super alloys and 3 titanium grades; 6,000-ton press.
    • Rolled 7000-series aluminum for a PSU; first commercial rolling order.
    • ABHED bulletproof jackets fabricated; testing underway; certificates due next quarter.
    • Preliminary BAFA license for metal powder obtained; equipment expected next year.
    • Spring plant underway; sample order from BEML; more orders anticipated.
    • Metal bank advanced in raw-material procurement; expected clarity by end of Q2.

    Capex and Capacity

    • Capex plan: Rs 1,000 crore over the next 3 years; not immediate top-line turn; benefits after 4–5 years.
    • FY27 maintenance Capex around Rs 50–60 crore.
    • Aluminum plant Nellore JV closed; indigenization via wide plate mill for rolled aluminum plates.
    • Titanium: new melting facility; orders worth about Rs 600 crore.
    • Capex realization may lag; existing plus new assets; full impact after stabilization.

    Exports and International

    • Exports ~10% of turnover; current-year sales Rs. 33 crores; open export orders Rs. 25 crores.
    • Exports to grow 15–20% over 3–4 years; potential Rs. 100–120 crore incremental export revenue.

    Q&A Highlights

    • Margin normalization expected from Q3; target EBITDA margin around 20–21%.
    • Raw-material variance: Rs 13 crore adverse; metal bank in progress; target by Q2.
    • Q1 EBITDA margin around 20%; improvement anticipated in Q2/Q3.
    • Titanium/super-alloy margins higher than other steels; titanium orders worth Rs 600 crore.
    • Aluminum-indigenization via wide plate mill rather than Nellore plant; timelines under discussion.
    • Onboarding global OEMs (Boeing/Rolls-Royce) possible within 1 year; few years for decisive orders.

    Risks and Watchpoints

    • Raw-material availability and cost volatility; LPG price sensitivity remains near-term risk.
    • Project lead times and certifications impacting order execution and timing.
    View source

  3. Zee Entertainment Enterprises Limited

    Zee Entertainment Allots 20,94,47,805 Fully Convertible Warrants to Sunbright Mauritius (Promoter Group) on Preferential Basis

    Allotment of Securities

    Capital / Securities

    • Allotted 20,94,47,805 fully convertible warrants to Sunbright Mauritius Investments Limited.
    • Warrant Issue Price is ₹126 per warrant; 25% upfront received.
    • Upfront subscription received: ₹659,76,05,857.50 (25% of ₹31.50 per warrant).
    • Warrants exercisable into one share at ₹94.50 within 18 months.
    • Shareholding on conversion (fully diluted) 17.90%.
    • No change in paid-up capital at this stage.
    View source

  4. NTPC Green Energy Ltd

    NTPC REL wins 500 MW SECI FDRE-IX assured peak power tender at ₹6.00/kWh

    Press Release / Media Release

    Contract win details

    • NTPC Renewable Energy Limited won 500 MW contracted capacity in SECI's FDRE-IX e-reverse auction.
    • Discovered tariff set at ₹6.00 per kWh.
    • Total capacity in SECI FDRE-IX is 6000 MWh (1500 MW x 4 hours).
    • Auction concluded on 21 August 2026.
    • NTPC REL is a wholly owned subsidiary of NTPC Green Energy Limited.
    View source

  5. LTM Ltd

    LTM UK unit to acquire Randstad Digital entities from Randstad N.V., subject to regulatory approvals

    Acquisition

    Target entities

    • Targets: Randstad Digital B.V. (Netherlands), Randstad Digital France SAS (France), FINXL Professional Services Pty Ltd (Australia).

    Acquirer & structure

    • Acquirer is LTM UK & Ireland Limited; acquiring 100% stake in each target.

    Transaction details

    • Sale and Purchase Agreement executed with Randstad N.V. and affiliates.

    Regulatory & timeline

    • Completion is subject to applicable regulatory approvals and conditions precedent.

    Consideration & price

    • Nature and amount of consideration not disclosed.

    Shareholding & cap table

    • All shares of each target are being acquired (100% stake).

    Background & rationale

    • Targets operate as Randstad Digital entities; rationale not disclosed.
    View source

  6. Essar Shipping Ltd

    Essar Shipping reports Q1 2026 standalone loss; going concern risk amid net-worth erosion; consolidated exceptional-item gain

    Financial Results

    Financial performance

    • Standalone income from operations ₹0.04 crore; total ₹0.31 crore in Q1 2026.
    • Standalone PBT before exceptional items: loss ₹5.44 crore; after exceptional items: loss ₹4.52 crore.
    • Exceptional items: income ₹0.93 crore; EPS after exceptional items standalone ₹-0.22.
    • Standalone net worth eroded to ₹5,972.55 crore; share capital and reserves ₹5,218.23 crore.
    • Current assets exceed current liabilities by ₹8.09 crore; going concern basis adopted.
    • Consolidated losses; accumulated losses ₹4,816.25 crore; reserves ₹2,975.72 crore.
    • Consolidated exceptional income ₹258.02 crore; profit after exceptional items ₹230.41 crore.
    • SFIO notice received; management providing required information; certain subsidiaries not consolidated due to liquidation.

    Business model

    • Income derives from charter hire of vessels under bareboat arrangements.

    Liquidity & going concern

    • Going concern basis adopted for standalone results; measures include Tug cash flow and deferment of interest.
    View source

  7. Star Housing Finance Ltd

    India Ratings migrates Star Housing Finance's NCDs and bank facilities to non-cooperating category

    Credit Rating

    Action

    • Ind-Ra migrated SHFL's NCDs and bank facilities to IND D(ISSUER NOT COOPERATING).

    Instruments & Sizes

    • NCDs INR 2,500 million and bank facilities INR 4,500 million now IND D(ISSUER NOT COOPERATING).

    Cooperation & Information

    • Issuer did not participate; rating based on best available information; default status noted.

    Outlook & Caution

    • No forward-looking credit view due to non-cooperation; caution advised for investors.
    View source

  8. K M Sugar Mills Ltd

    NCLT sanctions demerger of Distillery Division into wholly owned subsidiary with 1:5 share swap

    Scheme of Arrangement

    Overview

    • Distillery Division to be demerged into a new company, which becomes a wholly owned subsidiary.

    Rationale

    • Consolidates distillery operations into a separate entity for focus and value unlocking.

    Key Terms

    • Nature: demerger of a division into a new company.
    • Appointed Date: 01-Apr-2026 (effective date upon completion).
    • Related party: Resulting Company becomes wholly owned subsidiary.
    • Approvals: NCLT sanction; regulatory observations resolved; no exchange objections recorded.

    Financial Impact

    • Share entitlement: 1 new Rs10 share in Resulting Company for every 5 Rs2 shares in Demerged Company.
    • Formation: new equity issued; Resulting Company becomes wholly owned subsidiary.
    • Assets and liabilities of the Demerged Undertaking transferred to the Resulting Company.
    • Tax considerations: department observations addressed; taxes payable as per law.

    Stakeholder Impact

    • Shareholders: receive equity in the Resulting Company; ownership via the new entity.
    • Creditors: rights preserved; tax and liability matters addressed under the scheme.
    • Employees: transfer to Resulting Company with no service interruption.
    • Operations: Distillery Division activities continue under the new entity; structure streamlined.

    Status & Next Steps

    • Status: NCLT sanction granted on 19.08.2026; order binding from Appointed Date.
    • Next steps: file revised MOA/AOA; register with ROC; align tax/regulatory filings.
    • Effective date will be the completion date after the second motion order.
    View source

  9. Susan Electricals India Ltd

    Susan Electricals India Q1 FY27: Revenue ₹95.36 cr; PAT positive; HT/MVCC mix shift and capacity expansion on track

    Earnings Call Transcript

    Financial Performance

    • Revenue rose 279% YoY to INR 95.36 crore in Q1 FY27.
    • Operating profit rose 980% YoY to INR 11.04 crore in Q1 FY27.
    • Profit after tax turned positive at INR 6.39 crore in Q1 FY27 (vs loss ₹0.42 cr in Q1 FY26).
    • Blended operating margin in Q1 FY27 is ~11.9%; expected to be maintained/improved with mix shift.

    Product Mix & Margins

    • Shift toward HT, MVCC cables; margins vary by product line.
    • Q1 segment margins: LT cables/conductors ~6.5%, HT cables ~7%, winding wires ~24.39%.
    • Overall EBITDA margin reported ~12% in Q1 FY27; driven by mix and scale.

    Orders & Capacity

    • Unexecuted order book ₹142.39 Cr as of 30 June 2026; expected to execute over ~3 months.
    • Active order pipeline ₹150 Cr; total order visibility ₹292 Cr.
    • Order-book mix: ~30% HT/MVCC, ~35% LT/conductors, ~35% winding wires.

    Capex & Capacity Expansion

    • Capacity expansion on track for commercial operations from Feb 2027; add 4,500 Km p.a. to 12,000 Km p.a.
    • Peak capex reference potential ~₹700–₹800 Cr.
    • FY27 capex planned at ₹15–₹20 Cr, mainly for machinery and expansion.

    Outlook & Guidance

    • FY27 revenue number not provided; momentum expected to continue in power sector.
    • Power sector remains a strong opportunity; favourable environment likely for years.
    • Exploration of railways/defence sectors; empanelment with power-sector players.

    Q&A Highlights

    • Raw material volatility (aluminium rod) monitored; pricing decisions taken accordingly.
    • "The factory expansion is expected to be commissioned in February."
    • "We would not like to provide an absolute revenue number at this stage."
    • "The expansion is being undertaken to support increasing demand and improve our manufacturing capabilities."
    • "The power sector remains a strong opportunity and we expect this favourable environment to continue for the next several years."
    • Debt/funding plans: additional funding to be considered if required; no explicit plan stated.
    View source

  10. Apex Frozen Foods Ltd

    Apex Frozen Foods Q1 FY27: Revenue flat at INR 257 crore; EBITDA up 79% and margins expand; US remains dominant

    Earnings Call Transcript

    Financial Performance

    • Net revenue: INR 257 crores in Q1 FY27, flat vs INR 258 crores Q1 FY26.
    • EBITDA: INR 33 crores; margin 12.7% vs 7.1% YoY.
    • PAT: INR 22 crores; PAT margin 8.4% vs 3.5%.

    Volumes and Realizations

    • Realization per kilo: INR 930; volumes 2,624 MT vs 3,015 MT Q1 FY26.
    • USA share: 70% of shrimp sales in Q1 FY27; 54% Q1 FY26.
    • EU+UK share: 25% of total; 39% Q1 FY26.
    • RTE share: 16% of total volume; 15% Q1 FY26.
    • RTE margin differential: USD 0.50 per kilo between RTC and RTE.

    Market Dynamics

    • Farm-gate prices rising; realizations supported; margins stable; freight costs rising.
    • War-led transport disruptions impacted volumes; container shortages.
    • Depreciating rupee aiding realizations.

    Capacity and Utilization

    • Q1 FY27 capacity utilization: 38%; last year: 39%.
    • Annual production target: ~12,000 MT for FY27; RTE utilization 16%.
    • Order book good through middle of Q3.

    Outlook and Markets

    • UK-India FTA effective from July 15; EU FTA expected end of this year or early next year.
    • Russia by end of Q2 or Q3; Australia under discussion; audits pending.
    • Tariffs: US 10%; ADD/CVD apply; refunds not yet known.

    Q&A Highlights

    • Margins stable with volume growth; freight and farm-gate cost increases offset by realizations.
    • Q2 realization expected around INR 930 per kilo; similar level anticipated.
    • RTE to 18-20% of volumes; proprietary products could contribute 3-4% of total sales.
    • EU FTA benefits expected by end of this year or early next year; UK FTA already in effect.
    • Tariff refunds unclear; Russia/Australia progress on audits; FTAs to drive volumes later.
    View source