Supreme Power Equipment Ltd Management Discussions

Charting the Next Phase of Growth, From Strong Foundations to Strategic Scaling

With robust industry tailwinds, a transformative capacity expansion, and a sharper focus on high- value, export-ready transformers, SPEL is gearing up to scale new heights

At Supreme Power Equipment Limited, FY 2024-25 marked a year of transition, one where we moved with purpose from being a reliable transformer manufacturer to becoming a future-ready, scale- oriented power equipment company. As management, we are proud of the strategic steps weve taken to not only strengthen our current position but also to lay the groundwork for sustainable, long-term growth.

Withdemandforreliable,energy-efficienttransformers on the rise driven by Indias aggressive renewable energy targets, infrastructure investments, and grid modernization we see tremendous opportunity ahead. The supportive policy environment, including schemes like RDSS, PLI, and Green Energy Corridors, aligns well with our capabilities and product portfolio. These tailwinds provide a solid backdrop for SPEL to scale its business meaningfully.

To capture this opportunity, we are executing a major capacity expansion project. Our new 6-acre facility, with an installed capacity of 9,000 MVA per annum, is progressing well and is expected to be fully operational by December 2025. This expansion will allow us to cater to higher-capacity transformer requirements including up to 160MVA/220KV initially and 315MVA/400KV in the second phase thus enabling us to move up the value chain and participate in larger and more remunerative orders.

As we scale our manufacturing capabilities, we are equally focused on building a stronger workforce to support future demand. Talent acquisition and workforce development are being prioritized, particularly in areas such as high-voltage engineering, design, and project execution. This will ensure that our capabilities remain future-ready and aligned with customer expectations.

We are also sharpening our strategic focus on high- value, margin-accretive orders, particularly from

renewable energy and EPC segments. With a growing reputation for quality and reliability, we are now actively exploring export opportunities to emerging markets across Africa, Southeast Asia, and the Middle East regions where power infrastructure investments are gaining momentum and demand for robust transformers is strong.

Looking ahead, we remain committed to delivering reliable performance, driving product innovation, and enhancing operational efficiency. Our investments in capacity, talent, and technology are guided by a clear vision to evolve SPEL into a leading player in Indias power infrastructure value chain and an emerging brand on the global map.

With strong industry tailwinds, a robust order book, and a clear roadmap for execution, we believe SPEL is well-positioned to unlock the next phase of growth and value creation.

Economic Overview

Despite 2025s growth slowing to 2.8% amid trade- policy headwinds, Asia-Pacifics rapid electrification surge underscores resilient demand and clear opportunity.

Global Economy Overview

Entering 2025, the global economy faces headwinds from renewed U.S. tariffs and retaliatory measures, which have weighed on investor confidence and capital spending. The IMFs April WEO cut its 2025 growth forecast to 2.8% from 3.3%, citing trade-policy uncertainty as the main drag. Energy markets remain mixed, with oil prices easing after their 2022 peak, natural gas reaching record highs, and coal demand rising, led by Asias grid expansion.

China and India continue to outperform global averages, supported by urbanization and large- scale grid modernization. Looking ahead to 2026, global growth is projected to stabilize around 3.0% as trade tensions ease, with energy markets seeing lower oil volatility and sustained demand for gas and renewables, particularly in Asia-Pacific.

Source: International Monetary Fund, International Energy Agency, IMF Blogs

India powers ahead at 6.5% growth-driven by bold reforms, fiscal prudence and an accommodative RBI stance despite global headwinds.

Indian Economy

India is expected to remain the worlds fastest- growing major economy in FY26, with GDP projected between 6.2% and 6.7% (RBI: 6.5%, World Bank: 6.3%, IMF: 6.2%, ADB: 6.8%), moderating from FY24s 8.2-9.2% due to global trade headwinds and easing domestic momentum.

The Union Budget for FY26 aims to reduce the fiscal deficit to 4.4% of GDP from an estimated 4.8-4.9% in FY25, while raising capital expenditure to Rs.11.21

lakh crore, or 3.1% of GDP, with major allocations towards agriculture, MSME credit, infrastructure, R&D and export promotion. On the monetary front, the RBI reduced the repo rate to 6.0% in April 2025 and adopted an accommodative stance, supported by an SDF rate of 5.75% and MSF/Bank Rate of 6.25%, providing liquidity and credit support as food inflation eases.

Sectoral growth drivers are expected to sustain broad- based power demand, with services contributing over 60% of GDP through IT, BPO and logistics exports; manufacturing benefiting from Make in India and PLI schemes; agriculture supported by favorable monsoons and rural electrification; infrastructure expanding through heavy investments in power transmission, transport and urban development; and the digital economy and electric mobility driving round- the-clock electricity demand from data centers and new EV clusters.

Source: PIB - April 2025 Policy Update, Deloitte - India economic outlook January 2025,

Industry structure and developments.

Indian Power Industry

Powering the Future: With 29.5 GW of renewables added in FY25 and a 500 GW non-fossil target by 2030, Supreme Power Equipment is perfectly positioned to transform Indias energy transition delivering advanced, grid-compliant transformers at scale.

According to PIBIndias power sector is undergoing a significant transformation, characterized by rapid demand growth, a massive push towards renewable energy (RE), and ongoing efforts to modernize its extensive infrastructure.

As of 31^st March, 2025, Indias installed solar power capacity reached a significant 105.65 GW, while wind power capacity crossed the 50 GW mark, standing at 50.04 GW. The fiscal year 2024-25 witnessed record RE capacity addition of 29.52 GW, with solar contributing the lions share at 23.83 GW - a substantial increase from the 15.03 GW added in the previous fiscal year. Wind energy also saw steady progress with 4.15 GW added in FY25, up from 3.25 GW in FY24. This rapid expansion underscores Indias commitment and capability in scaling up RE installations. India now

ranks 4th globally in overall RE installed capacity, 4th in wind, and 4th/5th in solar power capacity.

Indian Power Sector Snapshot

Parameter	Target	Status (Approx. as of Mar 2025)
Non-Fossil Installed Capacity	500 GW by 2030	227.5 GW
RE Installed Capacity (excl. Large Hydro)	Implied within 500 GW target	172.37 GW
Solar Installed Capacity	250-300 GW implied by 2030 target	105.65 GW
Wind Installed Capacity	140 GW implied by 2030 target	50.04 GW
Offshore Wind Capacity	37 GW auction target by 2030	0 GW (Tenders initiated)
Rooftop Solar (Residential)	1 Crore Households (PM Surya Ghar)	>1.1 Million Households

Government Policy & Incentive Framework

Indias aggressive clean-energy agenda underpins our long-term growth. The government has committed to 500 GW of non-fossil capacity by 2030, a 45% cut in emissions intensity (vs. 2005) and Net-Zero by 2070. Key enablers include:

? Renewable Targets & Green Hydrogen: National Green Hydrogen Mission (5 MMTPA by 2030), backed by Rs.17,490 cr for electrolysers and 412 ktpa of H₂ production.

? Residential & Agri-Solar: PM Surya Ghar (1 cr- home rooftop solar) and PM-KUSUM (solar pumps) with Rs.75,021 cr subsidies to drive decentralised power.

? PLI Schemes & Transmission Support: Rs.24,000 cr for solar-PV modules, Rs.18,100 cr for battery storage, ISTS waivers, Green Energy Corridors and robust RPO mandates to fast-track grid integration.

Opportunities for Supreme Power Equipment

? Surging Transformer Demand: Indias 29.5 GW RE addition in FY25 and 143 GW solar/wind pipeline translate into massive orders for GSU and distribution transformers.

? Specialised Solutions: Our expertise in low- harmonics, LVRT/HVRT-compliant units meets the exacting needs of solar inverters, wind nacelle transformers and offshore applications.

? Smart & Digital Upgrades: Sensor-enabled, realtime-monitoring transformers align with DISCOMs grid-modernization plans under the National Electricity Plan and Smart Cities Mission.

? Ancillary Manufacturing: Growth of domestic PV and battery factories under PLI schemes spurs demand for robust power-quality transformers within new plants.

Navigating Key Challenges

? Technical Complexity: Were bolstering our R&D centre to accelerate next-gen designs and grid- code testing.

? Supply-Chain Resilience: Strategic vendor partnerships and optimized inventory for CRGO steel and copper mitigate lead-time and price volatility risks.

? Cost & Quality Balance: Lean manufacturing initiatives and value-engineering workshops ensure competitive pricing without compromising reliability·critical for remote solar parks and offshore wind.

? Grid Integration Hurdles: Close collaboration with transmission authorities and end-users helps preempt delays and align project timelines.

Supported by a policy-backed, multi-trillion-rupee RE build-out, Supreme Power Equipment is well positioned to capitalise on the unprecedented scale and technological demands of Indias energy transition. Our pipeline of advanced transformer solutions, combined with enhanced R&D and supply- chain agility, sets the stage for sustained growth and industry leadership in the years ahead.

Electricity Generation in India (BU) As on Sept, 2024

(Note: GW - Gigawatt, BU - Billion Unit)

Tamil Nadu in the Indian Power Industry

? Total Installed Capacity: Approximately 41 GW as of late 2024 / early 2025.

? Record Peak Demand Met: 20,830 MW on May 2, 2024.

? Record Daily Consumption: 454.32 Million Units (MU) on April 30, 2024.

? Anticipated Peak Demand (2025): Expected to reach ~22,150 MW.

? Energy Mix: Non-fossil fuel sources (RE + Hydro + Nuclear) account for over 45% of the installed capacity.

? DISCOM Financial Health (TNPDCL): Ranked 48th out of 52 among national DISCOMs in FY24 (Rating:

C-), indicating financial challenges, though recent tariff hikes and government support have reduced annual losses.

? T&D Infrastructure Growth: In FY25 alone, additions included 11 new substations, ~16,000 distribution transformers, and over 18,000 km of power lines.

Source: IBEF - Power Sector PIB - Press Releases

Indias power demand is booming per capita consumption surged 45.8% in a decade, and peak demand hit a record 250 GW. With universal electrification and Rs.9.15 lakh crore in grid upgrades on the horizon, Supreme Power Equipment Limited is primed for long-term growth in a rapidly expanding i market.

Indias power sector has entered a transformational phase, driven by progressive policies, rapid infrastructure development, and growing energy demand. FY 2023-24 marked a milestone year with several achievements reshaping the countrys energy landscape.

Surge in Electricity Consumption

Per capita electricity consumption rose to 1,395 kWh in 2023-24, a 45.8% increase from 2013-14. This surge reflects growing industrial activity, rural electrification, and a rising middle class. India is steadily approaching global consumption averages, signaling sustained longterm demand.

Record Peak Demand Met

India achieved a record peak power demand of 250 GW in FY 2024-25, demonstrating the grids scalability and resilience. This supports long-term opportunities for power equipment companies like Supreme Power Equipment Limited, especially amid upcoming capacity expansion and modernization.

Universal Electrification & Access

With universal electrification now achieved, rural areas enjoy 21.9 hours and urban areas 23.4 hours of daily power supply. Improved access in Tier-II, Tier- III cities, and rural areas will fuel consumption across households, farms, and small businesses.

Industry Outlook

India is targeting 458 GW of peak demand by 2032 and plans Rs.9.15 lakh crore in transmission upgrades. This creates strong demand for efficient, digital power equipment. Supreme Power Equipment Limited is well-positioned with a broad portfolio serving utilities, industries, and renewable players.

Future Direction

Ongoing urbanization, EV growth, and industrial activity will continue to boost power demand. With a focus on sustainability, reliability, and energy efficiency, Supreme Power is aligned with the sectors evolution and national priorities.

? Conventional Capacity Addition: 1050 MW ? Renewable Capacity Addition: 3532.05 MW ? Transmission Line Addition: 358 Ckm ? Transformation Capacity Addition: 13440 MVA ? Conventional Generation: 124.18 BU ? Renewable Generation: 33.46 BU ? Peak Demand Met: 235.190 GW ? Energy Supplied: 147.289 BU

Power Industry in Tamil Nadu

With over 41 GW of installed capacity and 2,640 MW of new projects underway, Tamil Nadu continues to lead Indias power transformation offering strong opportunities for equipment suppliers like SPEL amid rising renewable integration and capacity upgrades.

According to CEA Tamil Nadu represents a significant market for power equipment due to its status as one of Indias most industrialized states, its substantial renewable energy capacity, and its high electricity demand. Understanding the dynamics of the states power sector is crucial for suppliers like Supreme Power Equipment Limited.

Tamil Nadu continues to maintain a robust and diversified power generation portfolio, aligning with its strategic emphasis on energy security, sustainability, and capacity augmentation. As of late 2024 to early 2025, the states total installed power generation capacity stood at approximately 41 GW, while the contracted capacity·comprising allocations from central generating stations and independent power producers (IPPs)·was around 36.6 GW.

The state has cemented its leadership in renewable energy, with wind power playing a pivotal role. Tamil Nadu ranked second nationally in installed wind capacity, exceeding 11.3 GW by the end of 2024. However, different estimates place the capacity at around 9.3 GW as of January 2025, reflecting ongoing capacity certification and commissioning updates. Solar energy has also witnessed remarkable expansion, reaching approximately 10 GW by early 2025, further enhancing the states renewable energy mix.

On the conventional front, Tamil Nadu Generation and Distribution Corporation (TANGEDCO) operates a core thermal generation portfolio, predominantly coal- based, with an installed capacity of around 4.3 GW.

Capacity Augmentation Initiatives

To meet the growing power demand and replace aging assets, significant capacity additions are underway. Notable thermal projects slated for commissioning during 2025 include:

? North Chennai Thermal Power Station Stage III - 800 MW

? Udangudi Thermal Power Station Stage I - 1,320 MW

Additionally, hydroelectric capacity is set to receive a major boost with the expected commissioning of the Kundah Pumped Storage Project (PSP), contributing 500 MW of flexible, dispatchable capacity to the grid.

These upcoming projects, totaling 2,620 MW, are expected to strengthen the states baseload and peak-load supply reliability while complementing the variable renewable energy sources.

Source: CEA

Renewable Energy Landscape In India

With a 500 GW non-fossil target by 2030 and over 45% of installed capacity already green, Indias renewable energy surge led by solar and wind offers massive opportunities for advanced transformer solutions and grid integration technologies.

According to IBEF India was ranked fourth in wind power capacity and solar power capacity, and fourth in renewable energy installed capacity, as of 2024. Power generation from solar and wind projects are likely to be cost-competitive relative to thermal power generation in India in 2025-2030. India surpasses the global average in setting and reducing carbon emission targets, ranking among the top three countries worldwide for emission reporting and reduction efforts.

Key milestones include:

? Enhanced Target: At COP26, India committed to achieving 500 GW of non-fossil fuel-based energy by 2030, the largest renewable energy expansion plan globally under the Panchamrit commitment.

? Capacity Growth: Non-fossil fuel capacity has surged by 396% over the past 8.5 years, reaching 203.19 GW, accounting for 45.5% of Indias total capacity.

? Renewable Additions: India saw a 9.83% year- on-year growth in renewable energy additions in 2022, with solar capacity expanding thirty-fold over nine years to 85.47 GW. The National Institute of Solar Energy estimates Indias solar potential at 748 GWp.

? Renewable Capacity Increase: Since 2014, the installed renewable energy capacity has grown by approximately 128%.

? Investment Opportunities: India allows up to 100% foreign direct investment (FDI) under the automatic route for renewable energy projects.

Renewable Energy Source	Installed Capacity (GW)
Wind Power	46.65
Solar Power	85.47
Biomass/Cogeneration	10.35
Small Hydro Power	5.00
Waste to Energy	0.59
Large Hydro	195

India is targeting 500 GW of renewable energy by 2030, aiming to reduce carbon intensity by 45% and achieve net-zero emissions by 2070. The country plans to produce 5 million tonnes of green hydrogen by 2030, backed by 125 GW of renewable energy. Additionally, the government has approved 50 solar parks with a 37.49 GW capacity and set a 30 GW offshore wind target by 2030.

Tamil Nadu in the Indian Renewable Energy Sector

? Wind Power Capacity: Second nationally with over 11.3 GW installed by late 2024 / early 2025.

? Solar Power Capacity: Approximately 10 GW by early 2025, ranking 4th in the country.

? State RE Consumption Target: Ambitious goal of achieving 50% of energy consumption from renewable sources by 2030.

? Offshore Wind Potential: Significant potential identified off its coast, with estimates around 7071 GW for Gujarat and Tamil Nadu combined.

? Policy Focus: Formation of Tamil Nadu Green Energy Corporation Limited (TNGECL) and a planned new Integrated Renewable Energy Policy to accelerate RE deployment.

Source: Invest India - Renewable Energy

Indian Transformers Manufacturing Industry

Driven by grid expansion, renewable integration, and industrial growth, Indias transformer market is poised to grow at over 8.5% CAGR unlocking opportunities for advanced, energy-efficient, and export-ready solutions.

The India Transformer Market size is estimated at USD 104.13 million in 2025, and is expected to reach USD 156.80 million by 2030, at a CAGR of greater than 8.53% during the forecast period (2025-2030).

? Over the medium term, rising energy demands from industries, coupled with the expansion of transmission and distribution systems, are set to propel the Indian transformer market. Additionally, supportive government policies in India aimed at addressing the surging energy demand are further fueling this markets growth.

? On the other hand, the Indian transformer market faces challenges, notably delays in project implementation stemming from protracted government procedures.

? Nevertheless, perceived as a cost-effective solution to curtail carbon emissions, smart grid technology presents a promising avenue. Upgrading existing regional networks to integrate this technology could unlock significant opportunities for the Indian transformer market in the coming years.

Analysis of Market Trends

Driven by grid expansion, renewable integration, and industrial growth, Indias transformer market is poised to grow at over 8.5% CAGR·unlocking opportunities for advanced, energy-efficient, and export-ready solutions.

Demand Drivers: The Indian transformer market is propelled by several interconnected factors:

? Grid Expansion and Modernization: Continuous investment in strengthening and expanding the T&D network to meet rising electricity demand and improve reliability is a primary driver. Government schemes like RDSS, focusing on loss reduction and smart metering, necessitate new and upgraded transformers.

? Renewable Energy Integration: The massive push towards adding RE capacity (solar, wind) requires significant numbers of transformers for power evacuation (GSU transformers) and grid connection. The specific requirements of RE integration also drive demand for technologically advanced transformers.

? Industrial Growth and Urbanization: Economic expansion, particularly in manufacturing (supported by Make in India and PLI schemes), and the growth of urban centers lead to increased power consumption, driving demand for both power and distribution transformers.

? Rural Electrification: While household electrification targets under schemes like SAUBHAGYA are largely met , ongoing strengthening of rural distribution infrastructure under schemes like DDUGJY continues to support demand for distribution transformers.

? Replacement Market: A significant portion of Indias transformer fleet is aging, creating a substantial replacement market driven by the need for improved efficiency, reliability, and compliance with newer standards.

? Specific Sectoral Demand: Growth in railways (electrification, Vande Bharat), data centers, and EV charging infrastructure creates specific demand for transformers tailored to these applications.

? Exports: India is increasingly seen as a competitive manufacturing hub for transformers, with growing export opportunities, particularly to markets like the US and Europe seeking alternatives.

Technological Advancements: The industry is evolving technologically:

? Energy Efficiency: Strong regulatory push (BEE Star Rating for distribution transformers , IS 1180 standard ) drives demand for lower-loss transformers, including those using amorphous core materials.

? Smart/Digital Transformers: Integration of

sensors, IoT connectivity, real-time monitoring, and diagnostic capabilities is a growing trend, enabling better grid management, predictive maintenance, and improved reliability.

? Application-Specific Designs: Development of transformers optimized for RE integration (handling variability, meeting grid codes ), industrial applications, and harsh environments.

? Eco-Friendly Solutions: Increased interest in transformers using biodegradable ester insulating fluids instead of mineral oil to enhance fire safety and environmental sustainability.

? Higher Voltage Levels: Expansion of the grid involves deployment of Extra High Voltage (EV) and Ultra High Voltage (UHV) transformers.

Source: Mordor Intelligence IMARC Group

Government Initiatives and Impact on

Transformer Demand

Universal Electrification & Access:

? SAUBHAGYA electrified ~2.86 crore households by 2022, driving last-mile infrastructure development.

? Though concluded, the infrastructure requires ongoing maintenance and upgrades, supporting transformer demand.

Rural & Urban Distribution Strengthening:

? DDUGJY and IPDS led to widespread feeder separation, metering, and T&D network upgrades.

? Created sustained demand for distribution transformers, conductors, and related equipment.

Revamped Distribution Sector Scheme (RDSS):

? Launched in 2021 with Rs.3.03 lakh crore outlay (till FY26), with possible extension to FY28.

? Aims to reduce AT&C losses and improve DISCOM financials.

? Drives demand for smart meters, system metering, and network upgrades, including transformer replacements.

Renewable Energy Promotion & Integration:

? Aggressive RPO targets (43.33% by FY30) and schemes like PM-KUSUM, PLI, VGF fuel RE capacity addition.

? Drives demand for RE-specific transformers (e.g., GSU transformers for solar/wind projects).

Grid Expansion & Transmission Strengthening:

? Green Energy Corridors and National Electricity Plan (2022-32) target large-scale transmission upgrades.

? Supports demand for power transformers across voltage levels (220kV, 400kV, 765kV).

Smart Grid & Grid Modernization:

? RDSS and National Smart Grid Mission (NSGM) promote smart grid infrastructure.

? Encourages adoption of smart transformers with advanced monitoring and communication features.

? Support for Domestic Manufacturing:

? Make in India, PLI schemes, mandatory BIS certification, and BEE energy efficiency standards favor established Indian transformer manufacturers.

? Indirect demand from new RE manufacturing plants and infrastructure growth (e.g., railways, data centers, EVs).

Overall Impact on SPEL:

? Government schemes across the value chain support strong, long-term demand for:

? Distribution transformers

? Power transformers

? RE-specific and smart transformers

? Industrial and infrastructure application transformers

The successful execution of RDSS and RE targets is crucial to fully realizing this demand potential and aligns well with SPELs strategic direction and product capabilities.

Source: PIB IPDS Sanand

Indias strong infrastructure momentum, renewable targets, and power sector reforms are driving demand for advanced transformers. Supreme Power Equipment Ltd is well-placed to grow by tapping domestic opportunities, especially in Tamil Nadu, despite DISCOM and input cost challenges.

In FY 2025-26, Supreme Power Equipment Limited operates in a favorable domestic environment. India remains the fastest-growing major economy, supported by moderating inflation, accommodative monetary policy, and strong government focus on infrastructure especially in the power sector.

Key growth drivers include rising electricity demand, the renewable energy transition (targeting 500 GW non-fossil fuel capacity by 2030), and schemes like RDSS aimed at modernizing T&D infrastructure. These developments are creating a long-term, sustainable demand pipeline for power equipment, including advanced transformers.

However, challenges persist·especially the financial instability of state DISCOMs, raw material price volatility (e.g., CRGO steel), and stricter compliance under BIS and BEE norms. Supreme Powers growth will depend on its ability to navigate these issues while leveraging demand across Tamil Nadu and other states.

Operational Overview Of Supreme Power Equipment Limited

With 33% revenue growth, a Rs.26 Cr turnkey breakthrough, and a 3x capacity expansion underway, FY25 marked a pivotal year as SPEL scaled operations, entered new markets, and aligned with Indias clean energy future.

Supreme Power Equipment Limited, originally founded as a partnership firm in 1994 under the name "Supreme Power Equipment" and later incorporated as a company under the name "Supreme Power Equipment Private Limited" in 2005, is a Tamil Nadu- based company specializing in the manufacturing of power and distribution transformers. With 3 decades of industry experience, the company has emerged as a prominent supplier to local electric utilities. Supremes foray into the windmill segment showcases its expertise in crafting transformers designed to withstand switching challenges and voltage fluctuations.

Renowned for quality and reliability, the company has a strong track record, having manufactured, and supplied over 17,000 units. Supreme Power Equipment Limited continues to be a key player in the transformer industry, emphasizing innovation and precision in design.

Financial Performance

The company has demonstrated positive financial momentum in FY25 compared to FY24, both on a consolidated and standalone basis. Key metrics like Total Income, EBITDA, and Net Profit show healthy year-on-year growth.

For the full fiscal year 2025, the companys consolidated total income grew by 31.65% to Rs.149.54 Cr from Rs.113.59 Cr in FY24. On a standalone basis, total income also saw a robust increase of 34.91%, reaching Rs.148.35 Cr in FY25 compared to Rs.109.96 Cr in FY24. This indicates a strong top-line expansion across the business.

Consolidated EBITDA for FY25 increased by 24.60% to Rs.29.07 Cr, up from Rs.23.33 Cr in FY24. Standalone EBITDA followed a similar positive trend, growing by 31.46% to Rs.26.33 Cr in FY25 from Rs.20.03 Cr in FY24. These figures suggest improved operational efficiency and profitability.

The companys consolidated net profit for FY25 rose by 32.84% to Rs.18.60 Cr, compared to Rs.14.00 Cr in the previous fiscal year. The standalone net profit mirrored this growth, also increasing by 32.84% to Rs.18.60 Cr in FY25 from Rs.14.00 Cr in FY24. This consistent growth in net profit underscores the companys ability to translate increased income into stronger earnings.

\/ Segment-wise/product-wise performance.

Distribution Transformer and Energy Efficient Transformer are the largest revenue drivers, accounting for 58.06 of the total, indicating strong market presence or demand in this segment.

Power Transformers also represent a significant portion of the revenue, bringing in 40.55.

Inverter Duty Transformers (Solar Transformers) contributed 25.49, suggesting the company has a notable presence in the renewable energy sector, particularly solar applications.

The "Other" category accounts for 20.69. This section specifically includes revenues from Generator Transformers, Furnace Transformers, and Rectifier Transformers.

Other Than Government Tenders represent the dominant revenue source, contributing 106.63 to the total in FY25. This indicates a strong presence and successful engagement within the private sector or non-governmental procurement channels.

Revenue from Government Tenders accounted for 38.16 in FY25. While a smaller portion compared to non-government sources, this still represents a notable contribution and suggests the companys ability to secure and execute public sector projects. The overall distribution indicates a diversified revenue base, leaning more heavily on non-government clients.

Top 10 Customers contributed the vast majority of the revenue, accounting for 94.91 of the total in FY25. This indicates a high reliance on a small number of key clients for the companys overall financial performance.

The remaining revenue of 49.88 was generated from Other Customers. While still a significant amount, this highlights that the companys revenue stream is heavily weighted towards its top tier of clients. This concentration could present both opportunities for strong client relationships and potential risks if any of these top customers were to reduce their business.

A Year of Strategic Wins and Operational Excellence

FY 2024-25 was a transformational year for Supreme Power Equipment Limited. As management, we are pleased to report that the Company achieved significant operational progress, expanded its market presence, and strengthened its execution capabilities across key verticals.

Our consistent efforts translated into strong order inflows throughout the year, including milestone contracts in both traditional and emerging segments. Of particular significance was our Rs.26 Cr turnkey substation project, marking SPELs entry into end- to-end substation execution·an important step in diversifying our offerings and increasing value delivered to customers.

We strategically expanded our geographic reach by securing orders in new regions such as Kerala and Lakshadweep and receiving vendor approval from the Kerala State Electricity Board (KSEB). These developments are not only a testament to our quality and reliability but also open doors to a wider base of institutional clients.

Our group entity, Danya Electric Company, also contributed meaningfully to our operational momentum by securing a Rs.7.26 Cr order, reinforcing the strength of our integrated delivery model.

During the year, we were honoured with the MSME Ratna Award 2024 for "Best Emerging MSME - Listed Company," a recognition we deeply value. Additionally, the credit ratings of CRISIL BBB-/Stable and CRISIL A3 further validated our financial discipline and longterm sustainability.

We maintained a sharp focus on the renewable energy sector, which continues to be a key growth driver for the Company. Orders for inverter-duty and oil-cooled transformers tailored for solar and wind energy applications remained robust, reflecting our alignment with the national clean energy agenda.

On the operational front, we made substantial progress in our capacity expansion project. As of March 2025, approximately 70% of the construction work for our new manufacturing facility was completed. This project is expected to triple our capacity by December 2025, significantly enhancing our ability to cater to growing market demand.

Overall, FY25 was a year of operational strength and strategic advancement. We believe the foundations laid during the year will enable us to pursue larger opportunities, enhance customer value, and reinforce our position as a reliable and future-ready player in the power equipment sector.

Ratio Analysis

In compliance with the requirement of listing regulations, the key financial ratios on Consolidated basis have been provided here under:

Particulars	FY25	FY24	% Variance	Reason for variance
Current Ratio	1.70	2.33	(27.14%)	The decrease in current ratio is due to an increase in current liabilities resulting from Cash Credit Facility taken for business purpose.
Debt-Equity Ratio	0.20	0.12	69.97%	The increase in Debt-Equity ratio is due to higher long-term borrowings availed for capital expenditure and related financial commitments.
Debt Service Coverage Ratio	7.56	5.23	44.56%	The increase in DSCR is due to higher Profit Before Tax (PBT) in the current year as compared to previous year. The improved profitability boosted the companys ability to generate operating cash, strengthening its capacity to service debt obligations efficiently.
Return on Equity Ratio	20.46%	19.35%	5.77%	NA
Inventory Turnover Ratio	4.32	4.01	7.81%	NA
Trade Receivables Turnover Ratio	2.68	2.31	16.25%	NA
Trade Payable Turnover Ratio	4.54	3.66	23.90%	NA
Net Capital Turnover Ratio	4.11	2.17	89.40%	The increase in Net Capital Turnover ratio is a result of increase in net sales, improved working capital management, and enhanced operational efficiency.
Net Profit (after tax) Ratio	12.73%	12.60%	1.00%
Return on Capital Employed	24.36%	24.74%	(1.56%)

Risk and Concern

The business operates in a dynamic environment where risks and concerns are inevitable. Key risks include market volatility, economic downturns, and rapid technological changes that can impact operations and profitability. Additionally, compliance with evolving regulations and maintaining a competitive edge in a saturated market pose significant challenges. To address these concerns, the company employs comprehensive risk management strategies, including regular market assessments, contingency planning, and continuous innovation. By staying ahead of industry trends and maintaining a robust risk mitigation framework, the business aims to minimize potential disruptions and secure longterm growth. Stakeholders are regularly informed about the potential risks and the measures in place to counteract them, ensuring transparency and fostering trust in the companys risk management approach.

Internal Risk Factors

Internal risk factors include operational inefficiencies, employee turnover, and the potential for cybersecurity breaches. Operational inefficiencies can arise from outdated processes, inadequate training, or misalignment between departments, leading to delays and increased costs. High employee turnover not only disrupts workflow but also results in the loss of institutional knowledge and increased recruitment costs. Cybersecurity risks, including data breaches and unauthorized access, can compromise sensitive information and damage the companys reputation. To mitigate these risks, the business invests in continuous process improvement, employee engagement programs, and robust cybersecurity measures. Regular internal audits and assessments are conducted to identify potential vulnerabilities and ensure that the companys operations remain efficient, secure, and aligned with strategic objectives.

External Risk Factors

External risk factors include macroeconomic conditions, regulatory changes, and competitive pressures. Economic downturns or fluctuations in consumer demand can significantly impact revenue streams, while shifts in regulatory frameworks may require costly adjustments to business practices. Additionally, the emergence of new competitors or disruptive technologies can threaten market share and profitability. To navigate these external risks, the business closely monitors economic indicators, maintains strong relationships with regulatory bodies, and invests in market research and innovation. By staying agile and adaptable, the company can quickly respond to external challenges, safeguarding its market position and ensuring continued growth in an unpredictable environment.

CSR Initiatives

CSR is integral to the companys ethos, reflecting its commitment to sustainable development and ethical practices. The business actively engages in initiatives that benefit both the environment and the communities in which it operates. This includes efforts to reduce carbon emissions, promote recycling, and minimize waste through sustainable practices. In addition, the company supports local communities. These CSR initiatives not only enhance the companys reputation but also contribute to longterm sustainability by fostering goodwill and loyalty among stakeholders. The companys CSR strategy is continuously reviewed and updated to align with evolving societal needs and expectations, ensuring it remains a positive force for change.

Internal Financial Controls

Internal financial controls are critical to maintaining the integrity of the companys financial reporting and safeguarding its assets. These controls encompass a range of practices, including segregation of duties, regular financial audits, and strict adherence to accounting standards. By implementing robust internal controls, the business ensures that all financial transactions are accurately recorded, authorized, and reported, minimizing the risk of fraud, errors, or mismanagement. Regular training for financial staff and the use of advanced financial software further enhance the effectiveness of these controls. The companys commitment to strong internal financial controls provides stakeholders with confidence in the accuracy and reliability of its financial statements, supporting informed decisionmaking and regulatory compliance.

Management Systems

Effective management systems are the backbone of the companys operations, ensuring that all processes are aligned with strategic goals and executed efficiently. These systems include performance management frameworks, quality assurance protocols, and compliance monitoring tools. Through a well-structured management system, the company can track progress, identify areas for improvement, and ensure that all departments are working towards common objectives. Regular reviews and updates to management systems are conducted to adapt to changing business needs and external conditions. By fostering a culture of continuous improvement and accountability, the companys management systems support sustained operational excellence, driving long-term success and competitiveness in the market.

Information Technology Services

Information Technology services are essential for supporting the companys operational efficiency and strategic initiatives. The IT department manages the organizations technology infrastructure, including hardware, software, and network systems, ensuring that all digital assets are secure, reliable, and scalable. IT services also include data management, cybersecurity, and the integration of new technologies to enhance productivity and innovation. The business invests in cutting-edge IT solutions to streamline processes, improve communication, and support data-driven decision-making. Regular system updates, cybersecurity training for employees, and disaster recovery planning are key components of the IT strategy. By leveraging advanced technology, the company ensures that it remains agile, competitive, and resilient in an increasingly digital landscape.

Human Resources Department

The Human Resources department plays a pivotal role in fostering a productive and positive work environment. HR is responsible for attracting and retaining top talent, ensuring that the companys workforce is equipped with the skills and motivation needed to drive business success. This includes managing recruitment processes, onboarding, employee training, and development programs. HR also oversees performance management, employee relations, and compliance with labor laws. By promoting a culture of continuous learning and professional growth, the HR department helps employees achieve their full potential, contributing to overall organizational effectiveness. Additionally, HR plays a crucial role in maintaining employee satisfaction and engagement through regular feedback mechanisms, wellness programs, and initiatives that promote diversity and inclusion.

Cautionary Statement

This Annual Report includes forward-looking statements about our objectives, estimates, and expectations. These statements, which use terms like anticipate, estimate, expects, and similar expressions, reflect our plans and assumptions but cannot guarantee future results. Various factors, such as political and economic changes, exchange rate fluctuations, and sector-specific conditions, could impact our operations. Actual outcomes may differ due to risks and uncertainties, and we do not commit to updating these statements publicly.

Notice is hereby given that the 20^th Annual General Meeting of the Members of M/s. SUPREME POWER EQUIPMENT LIMITED will be held on Friday, 19^th day of September 2025 at 02:30 P.M through Video Conferencing ("VC") / Other Audio-Visual Means ("OAVM") to transact the following businesses.

Ordinary Business

Item No. 1: To receive, consider and adopt the audited Standalone Financial Statements of the Company for the financial year ended 31^st March, 2025 and the Reports of the Board of Directors and Auditors thereon and in this regard, to consider and if thought fit, to pass the following resolutions as an Ordinary Resolution.

"RESOLVED THAT the audited Standalone financial statements of the Company for the financial year ended 31^st March, 2025 and the reports of the Board of Directors and Auditors thereon, as circulated to the members, be and are hereby received considered and adopted."

Item No. 2: To receive, consider and adopt the audited Consolidated financial statements of the Company for the financial year ended 31^st March, 2025 and the reports of the Auditors thereon, and in this regard, to consider and if thought fit, to pass the following resolutions as an Ordinary Resolution:

"RESOLVED THAT the audited Consolidated financial statements of the Company for the financial year ended 31^st March, 2025 and the reports of the Auditors thereon, as circulated to the members, laid before this Meeting, be and are hereby considered and adopted."

Item No. 3: To appoint a director in place of Mr. Vishwambran Nair Pradeep Kumar (DIN: 10218276), who retires by rotation and being eligible, offers himself for reappointment as a Director and in this regard, to consider and if thought fit, pass the following resolution as an Ordinary Resolution.

"RESOLVED THAT pursuant to the provisions of Section 152 and other applicable provisions of the Companies Act, 2013, Mr. Vishwambran Nair Pradeep Kumar (DIN: 10218276) who retires by rotation, at this Meeting and being eligible, has offered himself for re-appointment be and is hereby reappointed as Director of the Company liable to retire by rotation."

Special Business

Item No. 4: To ratify the remuneration of the Cost Auditor(s) for the financial year ending 31^st March, 2026 and, in this regard to pass the following resolution as an Ordinary Resolution:

"RESOLVED THAT pursuant to the provisions of Section 148 and other applicable provisions, if any, of the Companies Act, 2013 (the "Act") read with the Companies (Audit and Auditors) Rules, 2014 {including any statutory modification(s) or re-enactment(s) thereof, for the time being in force}, the remuneration payable to M/s N. Sivashankaran & Co., Cost Accountants, Chennai, having Firm Registration 100662, appointed by Board of Directors of the Company as Cost Auditors to conduct the audit of the cost records of the Company for the Financial Year 2025-26 amounting to Rs. 1,00,000 (Rupees One lakh ) plus applicable taxes and reimbursement of out of-pocket expenses incurred by him in connection with the aforesaid audit as recommended by the Audit Committee and approved by the Board of Directors of the Company, be and is hereby ratified."

"RESOLVED FURTHER THAT the Board of Directors be and is hereby authorized to take such steps and do such acts, deeds and things as may be necessary or desirable to give effects to this Resolution".

Item No.5: To appoint M/s SKD & Associates, Practising Company Secretaries as Secretarial Auditors and fix their remuneration and in this regard consider and if thought fit to pass the following resolution as an Ordinary Resolution:

"RESOLVED THAT pursuant to Section 204 and other applicable provisions, if any, of the Companies Act, 2013, Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and Regulation 24A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations"), other applicable laws/ statutory provisions, if any, as amended from time to time, and as recommended by the Audit Committee and approved by the Board of Directors ,M/s SKD & Associates, Company Secretaries, (Firm No. S2023TN958600) be and is hereby appointed as the Secretarial Auditor of the Company, for term of five consecutive years commencing from financial year 2025-26 till financial year 2029-30, at such remuneration, plus applicable taxes and other out-ofpocket expenses as may be mutually agreed upon between the Board of Directors of the Company and the Secretarial Auditors."

"RESOLVED FURTHER THAT the Board of Directors be and is hereby authorized to take such steps and do such acts, deeds and things as may be necessary or desirable to give effects to this Resolution".

Item No.6: To approve material related party transactions between the Company and Danya Electric Company (Partnership firm) and, in this regard, to consider and if thought fit, to pass the following resolution as an Ordinary Resolution:

"RESOLVED THAT pursuant to the provisions of Regulation 23(4), 2(1)(zc) and other applicable Regulations of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time, ("SEBI Listing Regulations"), Section 188and otherapplicableprovisionsofthe Companies Act, 2013 ("Act") read with Rules made thereunder, other applicable laws/statutory provisions, if any, (including any statutory modification(s) or amendment(s) or re-enactment( s) thereof, for the time being in force), the Companys Policy on Related Party Transactions, and subject to such approval(s), consent(s), permission(s) as may be necessary from time to time on basis of approval, recommendation of the Audit Committee and the Board of Directors of the Company, the approval of the Members of the Company be and is hereby accorded to enter into and / or continue the related party transaction(s) / contract(s) / arrangement(s) / agreement(s) (whether by way of an individual transaction or transactions taken together or a series of transactions or otherwise), as mentioned in detail in the Explanatory Statement annexed herewith, between the Company and Danya Electric Company, a Partnership firm in which certain directors of the Company are interested as partners and accordingly a related party under Regulation 2(1)(zb) of the SEBI Listing Regulations and Section 2(76) of the Act, on such terms and conditions as may be mutually agreed between the Company and Danya Electric Company, for purchase and sale of goods, rendering and receiving of services, and other related transactions for an aggregate value not exceeding Rs. 75 crores during the financial year 2025-26.

RESOLVED FURTHER THAT the Board, be and is hereby authorised, to do and perform all such acts, deeds, matters and things, as may be necessary, including finalising the terms and conditions, methods and modes in respect thereof and finalising and executing necessary documents, including contract(s), scheme(s), agreement(s) and such other documents, file applications and make representations in respect thereof and seek approval from relevant authorities, including Governmental/regulatory authorities, as applicable, in this regard and deal with any matters, take necessary steps as the Board may, in its absolute discretion deem necessary, desirable or expedient, to give effect to this resolution and to settle any question that may arise in this regard and incidental thereto, without being required to seek any further consent or approval of the Members or otherwise to the end and intent that the Members shall be deemed to have given their approval thereto expressly by the authority of this resolution.

RESOLVED FURTHER THAT the Board of Directors of the Company be and are hereby authorized to delegate all or any of the powers conferred on it to any Committee of Board of Directors and/or Managing/Whole-time Director(s) or Chief Financial Officer or any other Officer(s), Authorised Representative(s) of the Company of the Company and to do all such acts and take all such steps as may be considered necessary or expedient to give effect to the aforesaid resolution.

RESOLVED FURTHER THAT all actions taken by the Board or any person so authorized by the Board, in connection with any matter referred to or contemplated in any of the foregoing resolutions, be and are hereby approved, ratified and confirmed in all respects."

Item No.7: To approve increase in overall borrowing limit of the Company under section 180(1)(c) of the Companies Act, 2013 and in this regard, to consider and if thought fit to pass the following resolution as a Special Resolution:

"RESOLVED THAT in supersession of the resolution passed by the shareholders of the Company on 20^th September, 2024 and pursuant to the provisions of Section 180(1) (c) and any other applicable provisions of the Companies Act, 2013 and the rules made thereunder (including any statutory modification(s) or re- enactment thereof for the time being in force), the consent of the members of the Company be and is hereby accorded to the Board of Directors (hereinafter referred to as the Board, which term shall be deemed to include any Committee constituted/ empowered/to be constituted by the Board from time to time to exercise its powers conferred by this Resolution) for borrowing any sum or sums of money from time to time, from any one or more of the Companys Bankers and / or from any one or more other persons, firms, bodies corporate, or financial institutions whether by way of cash credit, advance or deposits, loans or bills discounting or otherwise and whether unsecured or secured by mortgage, charge, hypothecation or lien or pledge of the Companys assets and properties whether movable or otherwise or all or any of the undertakings of the Company notwithstanding that the moneys to be borrowed together with moneys already borrowed by the Company (apart from temporary loans obtained from the Companys bankers in the ordinary course of business) will or may exceed the aggregate of the paid-up capital of the Company and its free reserves, that is to say, reserves not set apart for any specific purpose, provided that the total borrowing shall not exceed Rs. 300.00 Crores (Rupees Three Hundred Crores only)."

"RESOLVED FURTHER THAT the Board of Directors of the Company be and is hereby authorized to finalize, settle and execute such documents / deeds / writings / papers and Agreements as may be required and to take all necessary steps and actions in this regard in order to comply with all the legal and procedural formalities and further to authorize any of its Committee(s)/Director(s) or any Officer(s) of the Company to do all such acts, deeds or things as it may in its absolute discretion deem necessary, proper and fit to give effect to the aforesaid resolution."

Item No.8: To seek approval under Section 180(1)(a) of the Companies Act, 2013 for creation of mortgage or charge on the assets, properties or undertaking(s) of the Company and in this regard to consider and if thought fit to pass the following resolution as a Special Resolution:

"RESOLVED THAT in supersession of the resolution passed by shareholders of the Company on 20th Day of September 2024, and pursuant to the provisions of Section 180(1)(a) and other applicable provisions, if any, of the Companies Act, 2013 including any statutory modifications or re-enactments thereof, the consent of the members of the Company be and is hereby accorded to the Board of Directors of the Company (hereinafter referred to as the Board, which term shall be deemed to include any Committee constituted/ empowered/to be constituted by the Board from time to time to exercise its powers conferred by this Resolution) to create such mortgages, charges and hypothecation in addition to the existing mortgages, charges and hypothecation created by the Company, on all or any of the immovable and movable properties of the Company whose so ever situated, both present and future, and the whole or any part of the undertaking of the Company together with powers to take over the management of the business and concern of the Company in certain events, in such manner as may be deemed fit , to or in favor of all or any of the financial institutions/ banks/ lenders/ any other investing agencies or any other person(s)/ bodies corporate to secure rupee/ foreign currency loans and/ or the issues of debentures, bonds or other financial instruments (hereinafter collectively referred to as Loans), provided that the total amount of Loans together with interest thereon at the respective agreed rates, compound interest, additional interest, liquidate damages, commitment charges, premium on prepayment or on redemption, costs, charges, expenses and all other monies payable by the Company to the aforesaid parties or any of them under the agreements entered into/ to be entered into by the Company in respect of the said Loans, shall not, at any time exceed the limit of Rs. 300.00 Crores (Rupees Three Hundred Crores Only)"

"RESOLVED FURTHER THAT the Board of Directors of the Company be and is hereby authorized to finalize, settle and execute such documents / deeds / writings / papers and Agreements as may be required and to take all necessary steps and actions in this regard in order to comply with all the legal and procedural formalities and further to authorize any of its Committee(s)/Director(s) or any Officer(s) of the Company to do all such acts, deeds or things as it may in its absolute discretion deem necessary, proper and fit to give effect to the aforesaid resolution."

Item No.9: To approve giving loan or guarantee or providing security under Section 185 of the Companies Act, 2013 and in this regard to consider and, if thought fit, to pass, the following Resolution as a Special Resolution

"RESOLVED THAT pursuant to Section 185 and other applicable provisions if any, of the Companies Act, 2013 ("the Act") and relevant rules made thereunder including any statutory modifications or re-enactments thereof and in accordance with Memorandum and Articles of Association of the Company, approval of the Members of the Company be and is hereby accorded to the Board of Directors of the Company (hereinafter referred to as the "Board" which term shall include any Committee constituted by the Board or any person(s) authorized by the Board to exercise its powers, including the powers conferred by this Resolution), for giving loan(s) in one or more tranches including loan represented by way of book debt (the "Loan") to, and/or giving of guarantee(s), and/or providing of security(ies) in connection with any Loan taken/to be taken by any entity which is a Subsidiary or Associate or Joint Venture or group entity of the Company or any other person in which any of the Directors of the Company is deemed to be interested as specified in the explanation to sub-section 2 of section 185 of the Act of an aggregate amount not exceeding Rs. 50,00,00,000/- (Rupees Fifty Crores Only).

RESOLVED FURTHER THAT the consent of the Members be and is hereby accorded to Board for having given and for continuing to give, from time to time, Corporate Guarantee(s) and/or any other form of security(ies), in connection with loan(s), financial assistance or credit facilities availed or to be availed by Danya Electric Company ("the Firm"), in which the Company holds 90% share of profit, up to an aggregate amount not exceeding Rs. 50,00,00,000/- (Rupees Fifty Crores only), provided that such facilities shall be utilised by the Firm exclusively for its principal business activities.

RESOLVED FURTHER THAT the aforementioned loan(s) and/or guarantee(s) and/or security(ies) shall only be utilized by the borrower for the purpose of its principal business activities.

RESOLVED FURTHER THAT for the purpose of giving effect to the foregoing resolution, any of the directors and the Company Secretary of the Company be and are hereby severally authorised to finalise and agree the terms and conditions of the aforesaid loan, and to take all necessary steps, to execute all such documents, deeds, instruments and writings and do all such acts, deeds and things in order to comply with all the legal and other procedural compliance including but not limited to making any filing with the banks, financial institutions and / or any statutory authorities including but not limited to jurisdictional Registrar of Companies."

Item No.10: To consider and, if thought fit, to pass, with or without modification(s), to make investments, give loans, guarantees and security in excess of limits specified under section 186 of the Companies Act, 2013, the following Resolution as a Special Resolution

"RESOLVED THAT pursuant to the provisions of Section 186 and other applicable provisions, if any, of the Companies Act, 2013 and relevant rules made thereunder including any statutory modifications or re-enactments thereof and in accordance with the Memorandum and Articles of Association of the Company, approval of the Members of the Company be and is hereby accorded to the Board of Directors of the Company (hereinafter referred to as the "Board" which term shall include any Committee constituted by the Board or any person(s) authorized by the Board to exercise its powers, including the powers conferred by this Resolution) to (a) give any loan to any person or other body corporate; (b) give any guarantee or provide security in connection with a loan to any other body corporate or person; and (c) acquire by way of subscription, purchase or otherwise, the securities of any other body corporate from time to time in one or more tranches as the Board of Directors as in their absolute discretion deem beneficial and in the interest of the Company, for an amount not exceeding Rs.100,00,00,000/- (Rupees Hundred Crores Only), notwithstanding that such investments, outstanding loans given or to be given and guarantees and/or security provided may collectively exceed the limits prescribed under Section 186 of the Companies Act, 2013.

RESOLVED FURTHER THAT for the purpose of giving effect to the aforesaid resolution, the Board of the Directors of the Company be and is hereby authorized to take from time to time all decisions and such steps as may be necessary for giving loans, guarantees or providing securities or for making such investments and to give corporate guarantee and to execute such documents, deeds, writings, papers and/or agreements as may be required and do all such acts, deeds, matters and things, as it may in its absolute discretion, deem necessary or appropriate or desirable including to settle any question, difficulty or doubt that may arise in respect of such investments / loans / guarantees / securities made or given or provided by the Company (as the case may be)."

	By Order of the Board of Directors
	For SUPREME POWER EQUIPMENT LIMITED
	Priyanka Bansal
	Company Secretary & Compliance Officer
Place: Chennai
Date: 13th August, 2025