Urja Global Limited (URJA)
₹8.39 +0.00% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Urja Global's revenue was ₹14.0 Cr (-26.6% year on year, -20.6% on the previous quarter), and net profit ₹0.4 Cr (-55.4% year on year); the operating margin was 4.0%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹14.0 | -26.6% | -20.6% |
| Operating profit | ₹0.6 | -12.2% | +18.3% |
| Net profit | ₹0.4 | -55.4% | +19.9% |
| Operating margin | 4.0% | — | — |
URJA delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 62.44% of the URJA shares traded on NSE were taken to delivery, against the stock's own 20-session average of 60.61%. That is close to its usual level. Turnover was only ₹33 lakh, so a handful of trades can move this figure.
Delivery in the last 5 sessions: 52.2% · 74.1% · 41.4% · 66.0% · 62.4%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Urja Global Limited announced the resignation of its Chief Financial Officer (CFO) and Key Managerial Personnel, Mr. Vijay Kumar Singhal, effective immediately from September 25, 2026. The resignation email cites medical difficulties and health issues requiring extended treatment as the primary reason for his departure. The company has a current market capitalization of ₹729 Cr with TTM revenue of ₹62 Cr, operating in a thin-margin environment (TTM net profit of ₹1 Cr). A successor to oversee company finances and compliance has not yet been announced.
- CFO Mr. Vijay Kumar Singhal resigned effective September 25, 2026
- Resignation was tendered via email at 9:10 AM on September 25, 2026 citing health issues
- Immediate cessation of duties with all authorizations and signatures requested to be revoked
- Company reported ₹13.96 Cr in revenue and ₹0.43 Cr PAT in the most recent quarter (Jun 2026)
Urja Global Limited announced that its Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), Mr. Vijay Kumar Singhal, has resigned with immediate effect on September 25, 2026. The resignation was tendered citing personal health issues and medical treatment requiring considerable time. The departure of a key financial executive occurs as the company manages TTM revenues of Rs 62 Cr and thin net margins.
- Resignation of CFO & KMP Vijay Kumar Singhal effective September 25, 2026
- Resignation cited immediate effect due to medical difficulties requiring treatment
- Company manages a market capitalization of Rs 729 Cr with TTM revenue of Rs 62 Cr
Urja Global Limited announced the resignation of its Chief Executive Officer and Key Managerial Personnel, Mr. Amitav Roy, citing personal reasons. His resignation was tendered on September 24, 2026, and takes effect on September 25, 2026. The resignation email indicates an immediate release with settlement of 7 days of earned salary for September 2026. This leadership departure occurs against the backdrop of modest FY26 revenue of Rs 66.70 Cr and TTM PAT of Rs 1 Cr.
- Chief Executive Officer Mr. Amitav Roy submitted resignation via email on September 24, 2026
- Cessation is effective immediately from September 25, 2026
- Exit terms specify clearance of earned salary for 7 days worked in September 2026 and immediate return of all company assets
- No successor or interim CEO was announced in the filing
Urja Global Limited announced the resignation of its Chief Executive Officer and Key Managerial Personnel, Mr. Amitav Roy, citing personal reasons. His resignation was tendered on September 24, 2026, and takes effect on September 25, 2026. The resignation email indicates an immediate release with settlement of 7 days of earned salary for September 2026. This leadership departure occurs against the backdrop of modest FY26 revenue of Rs 66.70 Cr and TTM PAT of Rs 1 Cr.
- Chief Executive Officer Mr. Amitav Roy submitted resignation via email on September 24, 2026
- Cessation is effective immediately from September 25, 2026
- Exit terms specify clearance of earned salary for 7 days worked in September 2026 and immediate return of all company assets
- No successor or interim CEO was announced in the filing
Urja Global Limited submitted the Scrutinizer's Report and voting results for its 34th Annual General Meeting held on September 22, 2026. Shareholders approved all agenda items, including the adoption of FY26 financial statements, the re-appointment of Managing Director Mohan Jagdish Agarwal, the re-appointment of Whole-Time Director Yogesh Kumar Goyal, and an enabling approval for fund raising. A total of 96,243,739 votes were polled on the fundraise resolution (17.27% turnout), passing with 99.89% approval.
- All Ordinary and Special Resolutions from the 34th AGM passed with requisite majority.
- Fund raising resolution approved with 99.89% votes in favor out of 96,243,739 total votes polled.
- Re-appointment of Mohan Jagdish Agarwal as Managing Director approved with 99.92% favorable votes.
- Re-appointment of Yogesh Kumar Goyal as Whole-Time Director approved with 99.92% favorable votes.
- Institutional shareholders showed resistance to the fundraise resolution, casting 95.02% (79,028 votes) against it.
Urja Global Limited's shareholders have approved an enabling resolution to raise up to USD 500 Million (approx. over ₹4,100 Cr) via equity or debt instruments, compared to its existing market cap of ₹740 Cr. The AGM also approved the UGL ESOP Scheme – 2026 with an option pool of 56,00,000 equity shares convertible into 1 share each. Additionally, shareholders confirmed the re-appointment of MD Mohan Jagdish Agarwal and WTD Yogesh Kumar Goyal for 5-year terms, along with the appointment of Dr. Anuradha Tomar as Independent Director.
- Shareholders approved an enabling resolution to raise funds up to USD 500 Million via QIP, FCCBs, Rights Issue, or other securities
- Fundraise limit represents more than 5x the company's current market cap of ₹740 Cr and dwarfs TTM revenue of ₹62 Cr
- Approved UGL ESOP Scheme – 2026 comprising 56,00,000 options convertible into 56,00,000 equity shares of face value Re 1
- Re-appointed MD Mohan Jagdish Agarwal and WTD Yogesh Kumar Goyal for 5-year terms effective November 13, 2026, and August 05, 2026, respectively
- Appointed Dr. Anuradha Tomar as Non-Executive Independent Director for an initial term of 5 years from August 05, 2026
Urja Global Limited has notified stock exchanges regarding the dispatch and weblink availability of its Integrated Annual Report and Notice for the 34th Annual General Meeting (AGM) for FY 2025-26. The 34th AGM is scheduled to be held on Tuesday, September 22, 2026, at 11:00 AM IST via Video Conferencing. Electronic copies were circulated to registered shareholders on August 25, 2026, and physical letters with weblinks have been sent to unregistered folios. The filing also includes standard reminders for physical shareholders to update KYC details in compliance with SEBI norms.
- 34th Annual General Meeting scheduled for Tuesday, September 22, 2026, at 11:00 AM IST via VC/OAVM
- Electronic copies of AGM notice and FY26 Annual Report dispatched on August 25, 2026
- Issued weblinks pursuant to Regulation 36(1)(b) of SEBI LODR Regulations, 2015 for shareholders without registered emails
- Shareholders reminded to complete mandatory KYC updation pursuant to SEBI circulars
Urja Global Limited has issued notice for its 34th Annual General Meeting (AGM) scheduled for September 22, 2026, with an e-voting cut-off date of September 15, 2026. Along with the AGM notice, the company submitted its FY2025-26 Integrated Annual Report showing consolidated revenue of Rs 67.59 Cr (down 1.31% YoY from Rs 68.49 Cr) and consolidated PAT of Rs 1.35 Cr (down 2.47% YoY). On a standalone basis, revenue grew 15.07% to Rs 59.24 Cr with a PAT of Rs 1.91 Cr. The Board has decided not to recommend any dividend for FY2025-26 to conserve liquidity.
- 34th AGM scheduled for September 22, 2026, via Video Conference with cut-off date on September 15, 2026.
- Consolidated FY26 revenue reached Rs 67.59 Cr, down 1.31% compared to Rs 68.49 Cr in FY25.
- Consolidated FY26 profit after tax stood at Rs 1.35 Cr vs Rs 1.38 Cr in FY25.
- Standalone revenue grew 15.07% YoY to Rs 59.24 Cr, with standalone PAT up 32.43% YoY to Rs 1.91 Cr.
- No dividend recommended for FY26 in order to conserve cash for operations.
Urja Global Limited has filed a status report regarding physical share transfer requests for the period from May 1, 2026, to July 31, 2026. The report, provided by Registrar Alankit Assignments Limited, indicates that zero (NIL) requests were received, processed, or approved during this timeframe. This filing is a standard regulatory requirement under the SEBI circular for the 'Special Window for Transfer and Dematerialization of Physical Securities.' It has no impact on the company's financial performance or market position.
- 0 requests for physical share transfers were received during the three-month period.
- 0 requests were processed, approved, or rejected by the Registrar.
- Reporting period covers May 1, 2026, to July 31, 2026.
- Average time taken for processing requests was NIL days as no requests were received.
Urja Global has approved a massive enabling resolution to raise up to USD 500 million (approx. ₹4,200 Cr) through various securities, which is nearly 5.6 times its current market capitalization. For Q1 FY27, the company reported a standalone net profit of ₹0.61 Cr on revenue of ₹19.09 Cr, showing flat top-line growth compared to the previous year. The board also appointed Vijay Kumar Singhal as CFO and approved a new ESOP scheme for 56 lakh shares. Re-appointments for the Managing Director and Whole-time Director for five-year terms were also cleared, pending shareholder approval.
- Proposed fundraise of up to USD 500 Million (~₹4,200 Cr), representing approximately 565% of the current market cap of ₹743 Cr
- Q1 FY27 standalone revenue stood at ₹19.09 Cr, nearly identical to the ₹19.01 Cr reported in the same quarter last year
- Standalone net profit for the June 2026 quarter was ₹0.61 Cr, a decline from the ₹0.97 Cr reported in Q1 FY26
- Approved 'Urja For All' ESOP Scheme 2026 with a pool of 56,00,000 options, representing ~0.75% of total equity
- Appointment of Vijay Kumar Singhal as CFO and re-appointment of MD Mohan Jagdish Agarwal for a 5-year term
Urja Global Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by Alankit Assignments Limited, confirms that physical share certificates received for dematerialization during the quarter ended June 30, 2026, have been processed. This involves the cancellation of physical certificates and updating the depository as the registered owner. This is a standard administrative filing required for all listed companies in India.
- Compliance certificate for the quarter ended June 30, 2026
- Issued by Registrar and Share Transfer Agent (RTA) M/s Alankit Assignments Limited
- RTA confirmation dated July 6, 2026, and filed with exchanges on July 8, 2026
- Confirms physical certificates were mutilated and cancelled as per SEBI norms
Urja Global Limited has announced the closure of its trading window starting July 1, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations. This closure is in anticipation of the declaration of the un-audited financial results for the quarter ending June 30, 2026. The window will remain closed for all designated persons and their immediate relatives until 48 hours after the results are officially announced. This is a standard regulatory procedure for listed companies prior to the release of price-sensitive financial information.
- Trading window closure effective from July 1, 2026.
- Closure is related to the un-audited financial results for the quarter ended June 30, 2026.
- Trading restriction applies to all designated persons, insiders, and their immediate relatives.
- Window will reopen 48 hours after the financial results are declared to the exchanges.
Ms. Saumya Srivastava has resigned from her position as a Non-Executive Independent Director of Urja Global Limited effective June 9, 2026. She cited personal reasons for her departure and confirmed that there are no other material reasons for the resignation. Consequently, she has also ceased to be a member of the company's Audit Committee. The company will need to ensure compliance with board composition requirements following this exit.
- Ms. Saumya Srivastava resigned as Non-Executive Independent Director effective June 9, 2026.
- The resignation led to her immediate cessation as a member of the company's Audit Committee.
- The director confirmed the resignation was due to personal reasons with no other material factors involved.
- She continues to hold directorship and committee memberships in Mirza International Limited.
Urja Global Limited reported a slight decline in consolidated total income to ₹6,759 Lakhs for FY26, down from ₹6,841 Lakhs in FY25. Consolidated net profit decreased to ₹113.73 Lakhs compared to ₹123.38 Lakhs in the previous year, while standalone profit saw a sharper drop of over 40%. A significant red flag is the Statutory Auditor's 'Modified Opinion' on the financial results. Furthermore, the company is undergoing a major management transition with the simultaneous resignations of the CFO and Company Secretary, alongside the appointment of a new CEO.
- Consolidated Net Profit for FY26 fell to ₹113.73 Lakhs from ₹123.38 Lakhs in FY25.
- Statutory Auditors issued a 'Modified Opinion' on the Audited Financial Results, indicating potential accounting or disclosure concerns.
- Major management churn: CFO Sachin Kumar Agrahari and CS Sakshi Arora resigned effective May 21, 2026.
- Renewable Energy segment revenue grew significantly to ₹2,556.59 Lakhs, but the EV segment revenue dropped by 26% to ₹3,954.26 Lakhs.
- Mr. Amitav Roy has been appointed as the new Chief Executive Officer (CEO) effective June 03, 2026.
Urja Global Limited has announced the resignation of Mr. Sushil Dubey from the position of Chief Executive Officer (CEO) effective April 30, 2026. The resignation was submitted and accepted on the same day, citing personal reasons and other professional engagements. The outgoing CEO has confirmed that there are no other material reasons for his departure. The company must now look for a successor to lead its operations and strategic initiatives.
- Mr. Sushil Dubey resigned as Chief Executive Officer effective from the close of business hours on April 30, 2026
- The resignation is attributed to personal reasons and other professional engagements
- The company received the formal resignation letter via email at 11:09 AM on April 30, 2026
- No other material reasons were cited for the resignation as per the SEBI filing
Financial Performance
Revenue Growth by Segment
Consolidated revenue grew 51.2% YoY to INR 67.25 Cr in FY 2024-25. Standalone revenue, 100% derived from Renewable Energy activities, grew 15.57% to INR 51.47 Cr. H1FY25 revenue was reported at INR 29.88 Cr.
Geographic Revenue Split
Not disclosed in available documents, though the company operates primarily in India with its registered office in New Delhi.
Profitability Margins
Operating Profit Margin decreased from 17.68% to 17.31% in FY 2024-25. Net Profit Margin declined significantly from 4.13% to 2.86% due to higher input costs and depreciation. Return on Net Worth decreased from 3.33% to 2.69%.
EBITDA Margin
PBILDT margin for the group was 5.31% in FY24 but declined to 2.48% in H1FY25, primarily due to increased employee costs for the solar EPC segment and marketing personnel for e-scooters.
Capital Expenditure
Planned capital expenditure of approximately INR 20 Cr for the installation of lithium battery manufacturing plant and machinery, aimed at reducing import dependence on China.
Credit Rating & Borrowing
Assigned CARE BB-; Stable issuer rating as of December 20, 2024. Borrowing costs are impacted by high utilization of working capital limits (~90%) and a debt-to-GCA ratio of 15.80x as of March 31, 2024.
Operational Drivers
Raw Materials
Lithium batteries, lead-acid battery components, and solar panels. Lithium batteries are currently 100% imported.
Import Sources
China is the primary source for lithium battery imports.
Capacity Expansion
Planned expansion into lithium battery manufacturing with a project value of INR 20 Cr, expected to be completed by March 2025.
Raw Material Costs
Total standalone expenses rose 17.73% to INR 49.39 Cr in FY 2024-25, representing 96% of standalone revenue, indicating high sensitivity to input cost fluctuations.
Strategic Growth
Growth Strategy
The company is transitioning from a trading-heavy model to in-house manufacturing of lithium batteries (INR 20 Cr capex) to reduce costs and capture the growing EV and solar storage market. It is also expanding its dedicated solar EPC project team to drive higher-margin service revenue.
Products & Services
Electric motorcycles, scooters, mopeds (NIC 30911), lead-acid batteries, solar panels, and solar power plant EPC (Engineering, Procurement, and Construction) services.
Brand Portfolio
Urja Global, Urja Kendra.
New Products/Services
In-house manufactured lithium batteries are expected to contribute to revenue following the completion of the INR 20 Cr capex in 2025.
External Factors
Industry Trends
The industry is shifting toward green energy and electric mobility, supported by Make in India 2.0 and PM Gati Shakti initiatives to improve logistics efficiency.
Competitive Landscape
Operates in a fragmented industry with significant project execution and stabilization risks.
Competitive Moat
Moat is based on an established dealer network and a diversified product portfolio across solar and EVs, though sustainability is challenged by low margins and high competition.
Macro Economic Sensitivity
Highly sensitive to government incentives; solar power is now more cost-effective than diesel generators in India. PLI schemes exceeding INR 3.2 lakh crore in the sector provide a favorable tailwind.
Consumer Behavior
Increasing consumer demand for cost-effective renewable energy products and electric two-wheelers.
Geopolitical Risks
Trade barriers or supply chain disruptions with China would severely impact the lithium battery supply for the EV segment.
Regulatory & Governance
Industry Regulations
Subject to SEBI (LODR) Regulations and the Companies Act, 2013. Beneficiary of PLI schemes for solar modules and EVs.
Legal Contingencies
The SEBI Adjudicating Officer imposed monetary penalties on the company and directors under Sections 15A(a), 15A(b), 15HA, and 15HB of the SEBI Act; an appeal is currently pending before the Securities Appellate Tribunal (SAT).
Risk Analysis
Key Uncertainties
Project execution risk for the INR 20 Cr lithium battery plant; failure to complete by March 2025 could delay growth plans.
Third Party Dependencies
High dependency on Chinese suppliers for critical lithium battery components.
Technology Obsolescence Risk
High risk due to rapid technological advancements in the renewable energy and electric mobility sectors.
Credit & Counterparty Risk
Trade Receivables Turnover Ratio decreased 44.44% to 0.15x, indicating a significant slowdown in payment collections from debtors.
