Power Mech Projects Limited has announced the outcome of its Board meeting held on August 8, 2026. The Board approved the unaudited financial results for the quarter ended June 30, 2026, both standalone and consolidated. Additionally, the company approved an Employee Stock Option Plan (ESOP) to grant stock options to eligible employees, subject to shareholder and regulatory approvals. The resignation of director Mrs. Sajja Lakshmi was also accepted.
Board Approves Q1 FY27 Financials and ESOP
Power Mech Projects Limited disclosed key decisions from its Board of Directors meeting held on August 8, 2026. The Board has approved the unaudited standalone and consolidated financial results for the first quarter of the financial year 2026-27, ending on June 30, 2026. These results were prepared in accordance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Employee Stock Option Plan Approved
In a significant move to incentivize its workforce, the company also approved an Employee Stock Option Plan (ESOP). This plan is designed to grant stock options to eligible employees of the company and its subsidiaries. The approval is based on the recommendation of the Nomination and Remuneration Committee and is contingent upon obtaining necessary approvals from shareholders and other regulatory bodies. Details regarding the plan, including the grant of stock options and vesting schedules, are provided under Annexure-2.
Director Resignation Accepted
The Board has accepted the resignation of Mrs. Sajja Lakshmi from the office of Non-Executive and Non-Independent Director, effective from the close of business hours on August 8, 2026. Mrs. Lakshmi cited personal preoccupations and unavoidable commitments for her decision. The Board expressed its sincere appreciation for her valuable contributions during her tenure.
Committee Re-constitution
Further, the Board decided on the re-constitution of various committees of the Board and the dissolution of the Investment Committee.
The meeting commenced at 2:30 p.m. IST and concluded at 6:40 p.m. IST on the same day. The company has made this information available on its website: https://powermechprojects.com/power-mech-financial-results/.
Source: BSE
