About Karma Energy Limited

Karma Energy Limited is an India-domiciled renewable power producer focused on wind energy. Incorporated under the Companies Act, 1956, it is listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), with its registered office at: Empire House, 214, Dr. D. N. Road, Fort, Mumbai – 400 001.

The Company’s equity shares trade on BSE (Code: 533451) and NSE (Symbol: KARMAENG) with ISIN INE725L01011.

Karma Energy generates power from renewable sources such as wind, operating wind farms in established wind corridors across Maharashtra (Beed, Satara) and Tamil Nadu (Theni, Tirunelveli).

Business Overview

The Company sells electricity to state utilities in the regions where it operates. Following the discontinuation of its Andhra Pradesh wind farm (7.5 MW) in late 2024, Karma Energy now operates about 30.50 MW of wind capacity.

The Andhra Pradesh exit reflected age-related performance decline and tariff pressures after expiry of the original 1995–96 Power Purchase Agreement (PPA), which had led to diminished or negative contributions to profitability.

Karma Energy reports that it has no subsidiary or associate companies.

Key Milestones and Developments

• Portfolio rationalisation: Sale of a 0.55 MW windmill at Poolvadi, Tiruppur (Tamil Nadu) during FY 2022–23. 
• Andhra Pradesh exit: Discontinuation of the 7.5 MW wind farm in late 2024 to mitigate uneconomic operations arising from post-PPA tariff reductions. 
• Accounting standards: Continued adherence to Indian Accounting Standards (Ind AS) for financial reporting. 

Corporate Governance Framework

The Company’s governance structure includes:

• Audit Committee 
• Nomination and Remuneration Committee 
• Stakeholders’ Relationship Committee 
• Corporate Social Responsibility (CSR) Committee 

These committees collectively oversee compliance, ethics, and transparency in line with SEBI (LODR) norms, as disclosed in the Annual Report for FY 2024–25.

Business Segments

(Section intentionally omitted as per Annual Report).  The Company has only one reportable segment — generation of power from renewable sources. Accordingly, separate segment-wise or geography-wise revenue data are not disclosed.

Key Management

• Shri Dharmendra G. Siraj – Chairman 
• Shri Chetan D. Mehra – Vice Chairman & Managing Director 
• Shri T. V. Subramanian – Chief Financial Officer & Company Secretary 

Latest Updates on Karma Energy Limited

• Portfolio optimisation: The Company discontinued its 7.5 MW Andhra Pradesh wind farm in late 2024, citing age-related technical and tariff issues. Installed capacity now stands at approximately 30.50 MW across Maharashtra and Tamil Nadu. 
• Operational context: Management noted that regulatory shifts in the renewable sector have pressured smaller wind farms and contributed to sites recording negative earnings. Mitigation measures include cost reductions and tight cash-flow management. 
• Performance highlights: For FY 2024–25, key ratios improved — 
  • Operating Profit Margin: 92.56% 
  • Net Profit Margin: 17.97% 
  • Return on Net Worth: 3.99%
    These improvements were attributed to recovery of old debts, profits on investments, and interest income. 
• Governance and compliance: The Company continues to report under Ind AS and has obtained CEO & CFO certification on the financial statements for FY 2024–25, confirming a true and fair view and effective internal controls. 
• Secretarial audit: Appointment of M/s Martinho Ferrao & Associates as Secretarial Auditors for a five-year term from April 1, 2025 to March 31, 2030, subject to shareholder approval, to further strengthen compliance oversight. 
• Shareholder services: The Eighteenth Annual General Meeting (AGM) is scheduled for September 25, 2025, via VC/OAVM, with NSDL engaged to provide e-voting facilities.