Reliance Power has released its Monitoring Agency Report for the quarter ended September 30, 2025. The report, submitted by Infomerics Valuation and Rating Limited, confirms that the proceeds from the preferential issue of warrants are being utilized as intended. As of September 30, 2025, ₹26.49 crore remains unutilized and is held in fixed deposits with scheduled commercial banks.

Monitoring Agency Findings

Infomerics Valuation and Rating Limited, the monitoring agency, has submitted its report for Q2 2025 (July-September). The report pertains to the preferential issue of warrants by Reliance Power. The monitoring agency confirms adherence to regulations and proper utilization of funds.

Details of Proceeds and Utilization

The total proceeds proposed to be received under the preferential issue amounted to ₹1,524.60 crore. As of the end of Q2 2025, the actual proceeds received stood at ₹694.65 crore. There were no proceeds received during the quarter ended September 30, 2025.

Unutilized Funds

As of September 30, 2025, ₹26.49 crore remains unutilized. These funds are maintained in fixed deposits and current accounts with scheduled commercial banks, aligning with regulatory requirements. There have been no deviations observed in the utilization of funds.

Allocation of Issue Proceeds

The issue proceeds are primarily allocated towards:

• Expansion of Business Operations: ₹803.60 crore
• General Corporate Expenses: ₹381.00 crore
• Debt Reduction: ₹340.00 crore

Progress on Object(s)

As of the reporting period, the objects are ongoing, within the stipulated timeframe of 18 months from the receipt of issue proceeds.

Source: BSE

Adani Enterprises has announced the availability of the transcript from its earnings call pertaining to the unaudited financial results for the quarter and half year ended September 30, 2025. The transcript, now accessible online, covers discussions and insights from the company’s financial performance during this period. Interested parties can find the full details via the provided weblink.

Earnings Call Transcript Announced

Adani Enterprises has released the transcript of its earnings call, which discussed the unaudited financial results for the quarter and half-year ending September 30, 2025. This announcement, dated November 10, 2025, informs stakeholders that the transcript is now available for review.

Accessing the Transcript

The transcript provides a detailed account of the discussions during the earnings call. It includes insights into the company’s financial performance and strategic outlook. To access the full transcript, please use the following link:

Earnings Call Transcript

Source: BSE

Reliance Power has announced the grant of 99,92,103 employee stock options under the “Reliance Power Employee Stock Option Scheme, 2024”. The options were approved by the Nomination and Remuneration Committee. These options are available to eligible employees with exercise prices determined by the committee. The vesting period allows exercise within a maximum of 4 years. These grants are designed to incentivize and reward eligible employees.

Employee Stock Option Grant

Reliance Power has approved the grant of 99,92,103 stock options to its eligible employees under the “Reliance Power Employee Stock Option Scheme, 2024”. The decision was made by the Nomination and Remuneration Committee on November 10, 2025.

Key Details of the Option Scheme

The details of the scheme include:

• Options Granted: 99,92,103 options.
• Eligibility: Granted to eligible employees as determined by the Committee.
• Face Value: Each option covers fully paid-up equity shares with a face value of ₹10.

Pricing and Exercising

The exercise price will be determined by the Committee, and it will either be the face value of ₹10 or a price based on the closing market price.

• Some options are granted at face value of ₹10.
• Other options are granted at a 20% discount on the Closing Market Price on the National Stock Exchange of India Limited as on November 07, 2025, i.e., ₹31.35.

The vested options can be exercised within a maximum period of 4 years from the date of vesting, according to the Reliance Power Employee Stock Option Scheme, 2024.

Source: BSE

Indian Renewable Energy Development Agency (IREDA) has announced key personnel changes, including the extension of Shri Pallav Kapoor’s tenure as Chief Risk Officer until October 31, 2028. Shri A. Chandrashekar and Shri Sanjay Kumar have been promoted to General Manager and Additional General Manager (IT) respectively. Shri KP Philip has also been promoted to General Manager and appointed as Senior Management Personnel.

CRO Tenure Extended

Shri Pallav Kapoor will continue as the Chief Risk Officer (CRO) of the Company. His tenure has been extended for a further period of three years, now set to expire on October 31, 2028.

Promotions Announced

Several key personnel have received promotions within the organization:

• Shri A. Chandrashekar: Promoted to General Manager (Projects). Will also continue as Head of Internal Audit.
• Shri Sanjay Kumar: Promoted to Additional General Manager (IT). He will continue as Chief Information Security Officer (CISO).
• Shri K P Philip: Promoted to General Manager (Projects) and appointed as a Senior Management Personnel.

Executive Profiles

Shri A. Chandrashekar holds a bachelor’s degree in Mechanical Engineering and a postgraduate degree. He has over 34 years of experience.

Shri Sanjay Kumar holds a bachelor’s degree in Science and a Master’s degree in Computer Application. He has more than 26 years of experience.

Shri K P Philip holds a bachelor’s degree in Technology in Civil Engineering. He has more than 31 years of experience.

Shri Pallav Kapoor holds a bachelor’s degree in Commerce and a post-graduate degree in finance. He has over 18 years of experience in risk management.

Source: BSE

KEC International announced strong Q2 FY26 results, marked by robust revenue growth and significant profitability improvement. Revenues grew by 19% YoY, with EBITDA up by 34%. The company’s order book reached a record level, exceeding ₹44,000 crore. Management remains optimistic about sustained and profitable growth in the coming quarters, driven by strong execution and a healthy tender pipeline.

Financial Performance Highlights

KEC International reported a strong financial performance for Q2 FY26, demonstrating significant growth across key parameters:

• Revenue: ₹6,092 Cr, up 19% YoY
• EBITDA: ₹430 Cr, a 34% YoY increase
• PBT: Increased by 88% YoY
• PAT: Also saw an 88% YoY surge

The company’s EBITDA margins expanded to 7.1% in Q2 FY26 from 6.3% in the same quarter last year. Both PBT and PAT exhibited exceptional growth, rising by 88% YoY.

H1 FY26 Performance

The positive momentum continued into the first half of fiscal year 2026. Here are key figures for H1 FY26:

• Revenue: ₹11,114 Cr, a 15% YoY increase
• EBITDA: ₹781 Cr, up 27% YoY
• PBT: Rose by 65% YoY
• PAT: Also witnessed a 65% YoY increase

Business Segment Highlights

Here’s a brief overview of each business segment’s performance:

• T&D: Revenue of ₹4,080 Cr in Q2 FY26, a 44% YoY growth. Order intake of approximately ₹12,000 Cr across various regions.
• Civil: Revenue of ₹968 Cr in Q2 FY26, impacted by monsoon and labor shortages.
• Transportation: Revenue of ₹425 Cr in Q2 FY26. Secured new orders for the Train Collision Avoidance System (TCAS).
• Cables & Conductors: Revenue of ₹524 Cr in Q2 FY26, a 19% YoY increase.
• Renewables: Revenue of ₹190 Cr in Q2 FY26.
• Oil & Gas Pipelines: Achieved prequalification for pipeline projects in the Middle East.

Order Book & Outlook

KEC International’s combined order book and L1 position reached a record level of over ₹44,000 crore. The company remains focused on execution and is well-positioned for sustained and profitable growth in the coming quarters.

Source: BSE

KEC International announced strong financial results for the second quarter (Q2) and first half (H1) of fiscal year 2026. Revenue grew by 19% in Q2 and 15% in H1, while Profit After Tax (PAT) increased by 88% and 65%, respectively. The company also reported healthy order intake growth of approximately 20% year-to-date and a record order book exceeding ₹44,000 crore.

Financial Performance Highlights

KEC International Ltd. announced its financial results for Q2 FY26 and H1 FY26, showcasing significant growth and profitability. Key highlights include:

• Revenue growth of 19% in Q2 and 15% in H1.
• PAT growth of 88% in Q2 and 65% in H1.
• Healthy growth in Order Intake of approximately 20% year-to-date.
• Highest ever Order Book & L1 as of date of over ₹44,000 crore.

Consolidated Q2 FY26 Performance

The consolidated financial performance for Q2 FY26 compared to Q2 FY25 is as follows:

• Revenue: ₹6,092 crore (vs. ₹5,113 crore).
• EBITDA: ₹430 crore (vs. ₹320 crore).
• EBITDA Margin: 7.1% (vs. 6.3%).
• PBT: ₹213 crore (vs. ₹113 crore).
• PAT: ₹161 crore (vs. ₹85 crore).

Consolidated H1 FY26 Performance

The consolidated financial performance for H1 FY26 compared to H1 FY25 is as follows:

• Revenue: ₹11,114 crore (vs. ₹9,625 crore).
• EBITDA: ₹781 crore (vs. ₹615 crore).
• EBITDA Margin: 7.0% (vs. 6.4%).
• PBT: ₹371 crore (vs. ₹226 crore).
• PAT: ₹285 crore (vs. ₹173 crore).

Standalone Q2 FY26 Performance

The standalone financial performance for Q2 FY26 compared to Q2 FY25 is as follows:

• Revenue: ₹4,949 crore (vs. ₹4,484 crore).
• EBITDA: ₹308 crore (vs. ₹230 crore).
• EBITDA Margin: 6.2% (vs. 5.1%).
• PBT: ₹135 crore (vs. ₹74 crore).
• PAT: ₹106 crore (vs. ₹58 crore).

Standalone H1 FY26 Performance

The standalone financial performance for H1 FY26 compared to H1 FY25 is as follows:

• Revenue: ₹8,978 crore (vs. ₹8,372 crore).
• EBITDA: ₹504 crore (vs. ₹428 crore).
• EBITDA Margin: 5.6% (vs. 5.1%).
• PBT: ₹185 crore (vs. ₹117 crore).
• PAT: ₹143 crore (vs. ₹90 crore).

Order Intake and Book

• YTD Order intake of ₹16,050 crore, representing healthy year-over-year growth.
• YTD Order Book of ₹39,325 crore, with additional L1 orders of approximately ₹5,000 crore.

Net Debt

Net Debt including Acceptances stands at ₹6,480 crore as of September 30, 2025, compared to ₹5,265 crore as of September 30, 2024.

Source: BSE