The Board of Directors at Godawari Power & Ispat Limited approved the Un-Audited Financial Results for Q2 FY26. Additionally, the board approved the allotment of 2,04,08,220 equity warrants on a preferential basis, raising Rs. 1,25,00,03,475. The board also approved a significant investment of up to Rs. 300 Crores in Godawari New Energy Private Limited (GNEPL) to establish a Battery Energy Storage System Plant.
Financial Performance (Standalone)
Godawari Power & Ispat Limited announced its standalone unaudited financial results for Q2 FY26. Key highlights include:
- Total Income: Rs. 1,257.59 Crores
- Profit before exceptional items and tax: Rs. 312.96 Crores
- Net Profit: Rs. 248.40 Crores
Earnings per share stood at Rs. 3.84 (Basic) and Rs. 3.82 (Diluted).
Financial Performance (Consolidated)
The consolidated unaudited financial results for Q2 FY26 show:
- Total Income: Rs. 1,327.16 Crores
- Profit before exceptional items and tax: Rs. 230.55 Crores
- Net Profit: Rs. 161.65 Crores
Consolidated earnings per share were Rs. 2.63 (Basic) and Rs. 2.61 (Diluted).
Equity Warrant Allotment
The Board approved the allotment of 2,04,08,220 equity warrants on a preferential basis to specified investors. Each warrant, priced at Rs 245, is convertible into one equity share. The company received Rs. 1,25,00,03,475, representing 25% of the total issue price. The remaining 75% will be payable upon conversion. Key allottees include:
- Mrs. Sarita Devi Agrawal (41,63,300 warrants)
- Mr. Dinesh Agrawal (12,24,500 warrants)
- Mr. Kumar Agrawal (22,04,200 warrants)
Investment in Battery Energy Storage
The board also approved an investment of up to Rs. 300 Crores in Godawari New Energy Private Limited (GNEPL), a wholly-owned subsidiary. This investment will facilitate the establishment of a Battery Energy Storage System (BESS) Plant. The company will subscribe to 12,49,50,000 Non-Cumulative Preference Shares of Rs. 10 each at par, amounting to Rs. 124.95 Crores, with the balance amount in either Equity or Preference Shares from time to time.
Solar Power Plant
Godawari Power will set up a 250 MWp Solar Power Plant at Raigarh, Chhattisgarh. This project is aimed at meeting the power requirements of the upcoming Cold Rolling Mill project and the existing steel plant at Siltara, replacing high-cost thermal/grid power. The project is expected to be commissioned by March 2027.
Source: BSE
