Reliance Power Limited has announced its audited financial results for the quarter and year ended March 31, 2026. The board has also approved the appointment of Dr. Avinash Gupta as an Independent Director and M/s Kailash Chand Jain & Co. as Statutory Auditor. Furthermore, the company received enabling authorization to raise up to ₹6,000 crore through equity-linked instruments and ₹3,000 crore via debentures, subject to necessary approvals.
Financial Performance Overview
For the financial year ended March 31, 2026, Reliance Power reported Total Income of ₹7,98,852 lakh on a consolidated basis. The company faced challenges in the fiscal year, reporting a consolidated net loss after tax of ₹33,689 lakh. Exceptional items during the year included a ₹38,160 lakh impairment provision related to property, plant, and equipment for a subsidiary project.
Strategic Leadership Appointments
In its meeting held on May 21, 2026, the Board of Directors approved two major appointments. Dr. Avinash Gupta, an expert in taxation and finance, was appointed as an Additional Director in the capacity of Independent Director for a five-year term. Additionally, M/s Kailash Chand Jain & Co. has been appointed as the new Statutory Auditor, with their tenure spanning from the conclusion of the 32nd Annual General Meeting to the conclusion of the 37th Annual General Meeting.
Capital Raising Plans
To support future operations and growth, the company is seeking enabling authorization to raise funds. This includes up to ₹6,000 crore through the issuance of equity shares or equity-linked instruments to qualified institutional buyers, and up to ₹3,000 crore through the issuance of secured or unsecured, redeemable, non-convertible debentures on a private placement basis or otherwise.
Operational Developments and Legal Status
The company continues to address operational challenges within its subsidiaries. Certain projects are undergoing asset monetization, while others are involved in ongoing arbitration regarding lender obligations. The management remains committed to maintaining a going concern status, emphasizing that they are positive about meeting liabilities through ordinary business operations and time-bound monetization of subsidiary assets. Furthermore, the company is actively contesting ongoing legal proceedings and investigations related to previous third-party fraud allegations.
Source: BSE
