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Karma Energy Seeks Approval for ₹200 Cr Related Party Transactions and Director Continuation
Karma Energy Limited has issued a postal ballot notice to seek shareholder approval for material related party transactions (RPTs) planned for FY 2026-27. The company intends to establish borrowing and Inter-Corporate Deposit (ICD) limits of ₹50 crore each with two related entities, Tapi Energy Projects Limited and Windia Infrastructure Finance Limited, totaling a potential exposure of ₹200 crore. Additionally, a special resolution is proposed to allow Mr. Dharmendra Gulabchand Siraj to continue as a Non-Executive Director after reaching 75 years of age. The e-voting period for these resolutions is scheduled from February 24 to March 25, 2026.
Key Highlights
Proposed borrowing limit of ₹50 crore and ICD placement limit of ₹50 crore with Tapi Energy Projects Limited for FY 2026-27.
Proposed borrowing limit of ₹50 crore and ICD placement limit of ₹50 crore with Windia Infrastructure Finance Limited for FY 2026-27.
Total proposed financial limits for related party transactions amount to ₹200 crore.
Special resolution sought for the continuation of Mr. Dharmendra Gulabchand Siraj as a director post-75 years of age.
E-voting period ends on March 25, 2026, with results to be declared by March 27, 2026.
💼 Action for Investors
Investors should review the terms of the Inter-Corporate Deposits to ensure they are at arm's length and beneficial to the company's cash flow management. Monitor the voting results on March 27 to confirm shareholder support for these financial arrangements.
Karma Energy Q3 PAT at ₹21.65 Lacs Supported by Significant Tax Credit
Karma Energy reported a revenue of ₹119.55 Lacs for Q3 FY26, representing a 26.8% increase YoY but a significant sequential drop from ₹462.41 Lacs in Q2. The company faced an operational loss before tax of ₹214.78 Lacs for the quarter, primarily due to high maintenance and other expenses. However, it achieved a Net Profit of ₹21.65 Lacs, largely driven by a prior-year tax credit of ₹181.50 Lacs. For the nine-month period ending December 2025, the company remains profitable with a PAT of ₹187.22 Lacs compared to ₹125.51 Lacs in the previous year.
Key Highlights
Revenue from operations grew 26.8% YoY to ₹119.55 Lacs in Q3 FY26.
Reported a Net Profit of ₹21.65 Lacs in Q3 FY26 against a Net Loss of ₹140.05 Lacs in Q3 FY25.
Profitability was heavily influenced by a prior-year tax adjustment/credit of ₹181.50 Lacs.
9M FY26 PAT stands at ₹187.22 Lacs, a 49% increase YoY from ₹125.51 Lacs.
Exceptional income of ₹81.43 Lacs recorded in 9M FY26 related to interest on previously written-off debtors.
💼 Action for Investors
Investors should be cautious as the quarterly bottom-line profit is non-operational and stems from tax adjustments. Monitor the company's ability to control rising maintenance costs which led to an operational loss this quarter.