Godawari Power And Ispat Limited (GPIL) announced the outcome of its Board Meeting held on February 6, 2026. The Board approved the Un-Audited Standalone and Consolidated Financial Results for the quarter and nine months ended December 31, 2025. Key approvals include a proposal to purchase 400 Railway Wagons for raw material and finished goods transportation with an investment of ₹120 Crores from internal accruals. This is primarily for captive use, with provisions to lease or transport for third parties if idle, necessitating an amendment to the Memorandum of Association to include logistics and allied activities. The company also approved the disposal of its entire 37.85% stake in Ardent Steels Private Limited (Associate Company) for a consideration of ₹90.87 Crores, subject to fulfilling statutory and contractual requirements. Following this transaction, Ardent Steels Private Limited will cease to be an associate company. Furthermore, GPIL approved an additional investment of ₹200 Crores in its wholly-owned subsidiary, Godawari New Energy Private Limited (GNEPL), bringing the total initial investment to ₹500 Crores. This investment is for CAPEX and working capital requirements for setting up a Battery Energy Storage System (BESS) Plant by GNEPL. An Extra-Ordinary General Meeting (EGM) has been scheduled for March 14, 2026, through Video Conferencing to seek shareholder approval for the amendment of the Memorandum of Association's main objects clause. The meeting commenced at 1:00 PM and concluded at 4:30 PM.
