The Board of Directors, employees, and stakeholders of NLC India Limited have warmly welcomed Shri Jha at a critical juncture as the company pursues an ambitious, nationwide growth roadmap under implementation. Under his guided leadership, the company remains highly confident in accelerating its key strategic initiatives, including digital transformation, capacity expansion, operational efficiency, and a stronger push into clean, renewable energy. With his rich governance background steering the organization, NLCIL is well-positioned to achieve higher benchmarks of operational excellence and sustainable growth, contributing meaningfully to the future of India’s energy security.

During his tenure, Sinha has played a pivotal role in strengthening GAIL’s financial systems, investor relations, corporate governance, compliance, treasury management, and investment appraisal processes. He also led major digital transformation initiatives, including SAP implementation, process automation, and the centralisation of financial operations. His contributions have earned him several professional accolades, including securing second rank in Asia for IR Professional in the Extel Asia Survey 2026, along with honours from the Institute of Cost Accountants of India for excellence in finance leadership and cost management.

His retirement marks the end of an important chapter in the company’s HR leadership at a time when Coal India continues to focus on workforce modernization, skill development and future-ready talent capabilities. Banerjee’s efforts in strengthening employee engagement and enhancing workforce effectiveness supported the management of one of India’s largest industrial workforces. As Coal India moves forward with its strategic priorities in the evolving mining and energy landscape, his contributions to people-centric policies and organisational development leave a lasting legacy.

The arrangement has been made to ensure continuity in the company’s financial leadership and smooth functioning of key financial operations until further orders. In his additional role, Shri Shetty will oversee HPCL’s finance portfolio while continuing to discharge his responsibilities as Director (Human Resources).

A seasoned executive with extensive experience in leadership and corporate management, Shri Shetty is expected to provide effective oversight of the company’s financial functions and support strategic decision-making. The additional charge is aimed at maintaining stability and strengthening coordination across HPCL’s key business functions.

The acquisition follows in-principle approval from the Cabinet Committee on Economic Affairs (CCEA). After the transaction, PFC and REC operate as holding and subsidiary companies, respectively. REC is a ‘Maharatna’ company under the administrative control of the Ministry of Power, Government of India, and is registered with RBI as a Non-Banking Finance Company (NBFC), Public Financial Institution (PFI) and Infrastructure Financing Company (IFC).

In the filing, PFC also said its board noted the Union Budget 2026–27 announcement on restructuring public sector non-banking financial companies (NBFCs). The Budget, presented on February 1, outlined the government’s approach to sector consolidation. “The vision for NBFCs for Viksit Bharat has been outlined with clear targets for credit disbursement and technology adoption. In order to achieve scale and improve efficiency in the Public Sector NBFCs, as a first step, it is proposed to restructure the Power Finance Corporation and Rural Electrification Corporation,” Union Finance Minister Nirmala Sitharaman had said during her budget speech.

Key highlights:

·        Crude steel production grew 2% from 14.08 to 14.35 million tonnes, showing stable operations of crude steel.

·        Sales Volume grows by 16.3% as the company increases outreach to retail and other consumers, inventory drawdown, or improved dispatch and market reach.

·        Revenue increased ~9–10% from ₹73,162 Cr to ₹79,997 Cr, broadly in line with volume growth.

·        Profit After Tax (PAT) soars by ~ 60%, highlighting operational efficiency, liquidation of inventory and cost optimization.

·        Reduction in Debt close to Rs. 5000 Crore during 9M FY’26.

Performance of 9M FY 26 (Standalone) at a glance:

Speaking on this occasion, CMD, SAIL Shri Amarendu Prakash said:

We have delivered an improvement in profitability, with profit after tax rising 60% year‑on‑year for 9M FY’2025-26, driven by higher volumes, operating leverage and prudent financial management. The strong sales traction was supported by robust domestic demand and improved market penetration.

Despite volatility on the input cost front and competitive pricing environment, we sustained operating profitability, supported by higher volumes, product mix optimization, and continued cost discipline.

The company’s board has declared a second interim dividend of ?3.25 per equity share, taking the total interim dividend for FY26 to Rs.7.75 per share, including the first interim dividend of Rs.4.50 per share. POWERGRID incurred a capital expenditure of Rs.26,761 crore during the first nine months of FY26 and capitalised assets worth Rs.12,915 crore on a consolidated basis. Its gross fixed assets, including gross lease receivables, rose to Rs.3.04 lakh crore as on December 31, 2025, crossing the Rs.3 trillion mark for the first time, while works in hand stood at around Rs.1.45 lakh crore by the end of January 2026.

Operationally, POWERGRID continued to expand its footprint, securing its first battery energy storage system project at Kalikiri in Andhra Pradesh under the build-own-operate model through the tariff-based competitive bidding route. As of January 29, 2026, the company and its subsidiaries operated 1.83 lakh circuit kilometres of transmission lines, 287 substations and nearly 6 lakh MVA of transformation capacity, maintaining an average system availability of 99.84 percent during the nine-month period. In line with its sustainability goals, the company met 50 percent of its power consumption from renewable sources and commissioned Asia’s first 315 MVA, 400/220 kV synthetic ester oil-filled transformer at its HVDC Bhiwadi substation.

Demonstrating a notable rise in its TRUST INDEX © score, an indicator of the percentage of employees giving positive feedback during the assessment, SAIL earned the certification on the basis of a comprehensive company-wide survey conducted by the Institute. The Great Place to Work Institute, a global authority on workplace culture, honors organizations that deliver exceptional employee experiences through a rigorous evaluation process.

SAIL has been steadily rolling out progressive HR initiatives, the latest being SAIL DARPAN – a step towards a transparent, performance‑driven workplace where evaluation and target setting reflect objectivity and alignment with organizational goals, while empowering employees to own their growth. Another key initiative is offering domain‑change opportunities for executives through specialized training programs under MoUs with leading IIMs (Kozhikode, Bangalore, Jammu, Raipur, Ranchi) and renowned institutes like XLRI and ASCI, focusing on marketing and HR.

On this occasion CMD SAIL, Shri Amarendu Prakash, said, “Securing the ‘Great Place to Work’ certification for the third consecutive year is a proud moment for all of us at SAIL. This recognition is a reflection of the trust our employees place in the organization and the culture we are collectively building”.

SAIL has supplied the entire quantity of special DMR grade steel plates for INS Ajay ensuring structural integrity and stealth performance. INS Ajay is the eighth and final vessel in the indigenously built Anti-Submarine Warfare Shallow Water Craft (ASW-SWC) series constructed by GRSE.

SAIL has also supplied the entire quantity of special grade Plates for the newly commissioned INS Nistar, India’s first indigenously designed and built Diving Support Vessel (DSV). INS Nistar, delivered by HSL, is poised to play a vital role in submarine rescue operations, deep-sea diving, and sustained patrolling.

SAIL’s commitment to powering India’s naval strength underscores its strategic support to national defence goals and its integral role in building an Atmanirbhar Bharat. With every tonne of steel, SAIL continues to forge the backbone of India’s maritime readiness and defence resilience.

Hindustan Petroleum Corporation Limited (HPCL) and the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, have inked a Memorandum of Understanding (MoU) in a major move to strengthen India’s innovation and startup ecosystem. In promoting startup-driven innovation, HPCL is the first Maharatna PSU to formally partner with DPIIT.

The MoU was signed by Sandeep Maheshwari, Executive Director – CS & BD, HPCL, and T. Lalit K. Singh, Deputy Secretary, DPIIT, in the presence of Sanjiv, Joint Secretary, DPIIT, and R. Sella Prabhu, GM – Business Development (CS&BD), along with other senior dignitaries from both organizations.

Through this collaboration, HPCL and DPIIT hope to empower startups in line with national energy and sustainability goals by utilising institutional support, funding, and mentorship.