Rajesh Power Services Ltd

Rajesh Power Services Ltd. reported a strong performance for the financial year 2025-26, with revenue increasing by 52% to ₹1628 crore and EBITDA growing by 59% to ₹197 crore. The company highlighted its robust operational capabilities and project execution expertise in India's power infrastructure sector. The unexecuted consolidated order book stood at ₹3,326 crore as of March 31, 2026. The annual report emphasizes the company's contribution to India's energy ambitions through transmission, distribution, and emerging energy solutions.

Rajesh Power Services Ltd announced key management changes following a Board of Directors meeting on September 3, 2026. Mr. Chetash Mehta has been appointed as an Additional Non-Executive Independent Director for a five-year term, subject to member approval. Additionally, Mr. Kurang Ramchandra Panchal's designation has been changed from Managing Director to Chairman and Managing Director for a five-year term, also pending member approval. The company also approved the reconstitution of its Nomination and Remuneration Committee, Stakeholder Relationship Committee, and Corporate Social Responsibility Committee.

Rajesh Power Services Ltd announced that its Board of Directors, in a meeting held on September 3, 2026, approved the appointment of Mr. Chetash Mehta as an Additional Non-Executive Independent Director for five years. The Board also approved the reconstitution of committees and a change in designation for Mr. Kurang Ramchandra Panchal from Managing Director to Chairman and Managing Director for five years. Additionally, the company announced its 17th Annual General Meeting for FY 2025-26 will be held on September 24, 2026, via Video Conferencing. E-voting will be open from September 21 to September 23, 2026.

Rajesh Power Services Limited (RPSL) has announced the incorporation of its wholly owned foreign subsidiary, RAJESH POWER SERVICES NZ LIMITED, in New Zealand. The subsidiary was confirmed on August 14, 2026. Its primary objects include Electrical and Solar EPC, focusing on Power Transmission and Distribution. The subsidiary has a subscribed capital of 100% holding by RPSL and currently has Nil turnover as it has yet to commence business operations. The incorporation is considered a related party transaction in the context of a holding-subsidiary relationship, with promoters having no direct interest beyond their shareholding in RPSL. The consideration for this incorporation was a subscription to share capital in cash.

Mr. Viral Deepakbhai Ranpura has resigned as an Independent Director of Rajesh Power Services Ltd. effective August 11, 2026, citing personal and medical reasons. He will also cease to be a member of the Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee, and Corporate Social Responsibility Committee. The resignation is in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mr. Ranpura confirmed there are no other material reasons for his resignation.

Rajesh Power Services Limited (RPSL) has secured new orders totaling ₹362.83 crores (including taxes) from Paschim Gujarat Vij Company Limited (PGVCL), a Gujarat government undertaking. These turnkey projects involve the conversion of existing 11kV High Tension (HT) and Low Tension (LT) line networks into underground cable networks, incorporating a Ring Main System with GIS mapping and asset tagging in the Jamnagar circle of Gujarat. According to Mr. Kurang Panchal, Managing Director, this order is a significant milestone, reflecting ongoing investments in strengthening India's power distribution infrastructure and RPSL's commitment to modernization and reliability through engineering excellence. RPSL is a leading EPC contractor in the Power Transmission & Distribution sector, operating across several Indian states.

Rajesh Power Services Ltd has received a significant turnkey contract from Paschim Gujarat Vij Company Limited (PGVCL) for converting existing 11 kV HT and LT lines, including consumer service lines, into an underground cable network with a ring main system in Jamnagar City-2 Division. The contract, valued at ₹362.82 Crores (including taxes), is to be executed within 24 months. This order falls within the normal course of business and is considered a domestic contract. The company has disclosed this information as per SEBI Listing Regulations.

Rajesh Power Services Ltd has received an order from Rajasthan Rajya Vidyut Prasaran Nigam Limited (RVPNL) for a 132/33 kV, 2X50 MVA GIS Substation at Pal, Jodhpur. The order includes survey, supply of equipment, erection, testing, and commissioning of the substation and associated transmission line. This turnkey contract is valued at ₹75.05 Crores (including taxes) and is to be executed within 18 months. The order was received in the normal course of business and does not involve any related party transactions.

Rajesh Power Services Ltd has received a significant turnkey contract from Paschim Gujarat Vij Company Limited (PGVCL) valued at ₹40.58 Crores (including taxes). The contract involves the Supply, Installation, Testing, and Commissioning of 11 kV Medium Voltage Covered Conductor (MVCC) with accessories and allied items for feeders under the Jamnagar Circle of PGVCL, as part of a System Improvement (SI) Scheme. This order is expected to be executed within 12 months and falls within the normal course of business for the company. There are no promoter or group company interests in PGVCL, and the transaction is not considered a related party transaction.

Rajesh Power Services Ltd has announced the receipt of significant orders totaling ₹34.37 crores (including taxes) from two state-owned entities. The company secured work from Paschim Gujarat Vij Company Limited (PGVCL) for SCADA readiness and RMU rectification across Bhavnagar, Jamnagar, and Rajkot circles, valued at ₹21.57 crores. Additionally, Rajesh Power Services received an order from Rajasthan Rajya Vidyut Prasaran Nigam Limited (RVPNL) for the modification of a 220kV line into an underground cable system at Jodhpur, worth ₹12.80 crores. These orders are expected to be executed within 12 months and 9 months respectively, bolstering the company's order book in the power infrastructure sector.