Jun 16:
ANNUAL RESULTS 8RMC Switchgears posts FY26 revenue of Rs. 401.59 crore, up 26.4%, swinging to Q4 profit
RMC Switchgears Limited reported FY26 consolidated revenue of Rs. 401.59 crore, a 26.4% year-on-year rise, at its Analyst Day on 11 June 2026. The company swung from a Rs. 7.07-crore net loss in Q3 to a Rs. 9.3-crore net profit in Q4 on tighter cost control, after margins were squeezed by product-development spend and execution delays. Management cited India's installed base of roughly 2.5 crore distribution transformers as a long-term addressable opportunity.
8Viviana Power Tech reports record FY26 turnover of Rs. 533 crore, wins nod for NSE mainboard listing
TEASER: Viviana Power Tech Limited's FY26 investor presentation highlights a record consolidated turnover of Rs. 533 crore — a 16-fold revenue increase since its NSE EMERGE listing in September 2022 — with an order book exceeding Rs. 1,000 crore by FY26 end. The power transmission and distribution EPC firm, which executes projects up to 400 kV, received shareholder approval on 21 May 2026 to migrate to the NSE Mainboard, marking what management describes as a transformational year.
CREDIT RATING & ANALYST REPORT 8CareEdge reaffirms Avaada SunEnergy at 'CARE A-; Stable' as facilities are enhanced to Rs. 1,615 crore
CARE Ratings (CareEdge) on 15 June 2026 reaffirmed a 'CARE A-; Stable' rating on Avaada SunEnergy Private Limited's long-term bank facilities, enhanced to Rs. 1,615 crore from Rs. 97.20 crore, and assigned 'CARE A-/CARE A2+' to a further Rs. 44 crore of facilities. The 25 MW (AC)/35 MW (DC) Maharashtra solar project posted an FY26 plant load factor of 17.5%, close to the P90 estimate, with a greenfield 400 MW (AC) expansion due January 2027 backed by parent Avaada Energy's roughly 7 GW operational base.
8CareEdge places Vena Energy Fatanpur's 'CARE A' on watch over Inox's acquisition of Vena India platform
CARE Ratings placed the 'CARE A' rating on Vena Energy Fatanpur Power Private Limited's Rs. 458.64-crore long-term bank facilities on Rating Watch with Developing Implications on 15 June 2026. The action follows Inox Clean Energy Limited (rated 'CARE A-; Stable') of the INOXGFL Group entering a definitive agreement, via subsidiary Inox Neo Energy, to acquire 100% of Vena Energy India Holdings Pte Ltd — announced on 4 June 2026. CARE will resolve the watch once the acquisition's impact on leverage becomes clear.
8Vena Energy Sustainable's 'CARE BBB+' placed on watch amid Inox Clean Energy takeover deal
CARE Ratings placed Vena Energy Sustainable Power Private Limited's Rs. 217.20-crore long-term bank facilities, rated 'CARE BBB+', on Rating Watch with Developing Implications on 15 June 2026. The move mirrors the watch on sister entity Vena Energy Fatanpur after Inox Clean Energy, via Inox Neo Energy, agreed on 4 June 2026 to acquire 100% of Vena Energy India Holdings Pte Ltd. The final rating outcome will depend on the incoming owner's leverage philosophy and the platform's post-acquisition credit posture.
8ICRA flags material event for Vena Energy JMD Power's Rs. 112-crore '[ICRA]A- (Negative)' after Inox deal
ICRA on 15 June 2026 noted the material event affecting Vena Energy JMD Power Private Limited, whose Rs. 112.12-crore long-term term loan carries an '[ICRA]A- (Negative)' rating. On 4 June 2026 the Vena Group signed a definitive agreement with Inox Clean Energy Limited of the INOXGFL Group, under which Inox Neo Energy will acquire 100% of Vena Energy India Holdings Pte Ltd, taking over Vena's India renewable platform. ICRA said it is assessing the deal's credit implications.
8CareEdge assigns 'CARE BBB+; Stable' to Sunstream Green Energy's Rs. 100-crore facilities on Rs. 3.15/kWh PPAs
CARE Ratings on 15 June 2026 assigned a 'CARE BBB+; Stable' rating to Sunstream Green Energy Private Limited's Rs. 100-crore long-term bank facilities. The rating reflects revenue visibility from long-term PPAs at a weighted-average tariff of Rs. 3.15/kWh, sponsor backing from Lighthouse Trust Pte Ltd with roughly USD 50 million of committed equity (USD 30 million infused), and Central Financial Assistance of Rs. 157.5 crore (Rs. 130 crore received). Liquidity is healthy at Rs. 70 crore, though constrained by a roughly one-year operating track record.
8CareEdge reaffirms Atria Solar (Ryapte) at 'CARE BB; Stable' as facilities are cut to Rs. 49.97 crore
CARE Ratings reaffirmed a 'CARE BB; Stable' rating on Atria Solar Power (Ryapte) Private Limited's long-term bank facilities, reduced to Rs. 49.97 crore from Rs. 58.10 crore, on 15 June 2026. The rating reflects weak debt-coverage indicators from lower tariffs and a decline in FY26 generation, with liquidity stretched as accruals barely cover repayments. Offsetting factors include the promoters' renewable-energy experience, a long operating track record and timely payments from the off-taker under a firm agreement.
8ICRA reaffirms North East Transmission Company at '[ICRA]AAA; Stable' as term loan amortises to Rs. 340.95 crore
ICRA on 15 June 2026 reaffirmed an '[ICRA]AAA (Stable)' rating on North East Transmission Company Limited's long-term term loan, the rated amount declining to Rs. 340.95 crore from Rs. 480.13 crore as debt amortises. The rating is underpinned by comfortable debt-coverage metrics and assured cash-flow visibility from availability-linked tariff payments under a long-term transmission service agreement on a cost-plus framework for its inter-state transmission project.
8ICRA keeps S.S. Enterprises Electricals at '[ICRA]D' under issuer non-cooperating on Rs. 5-crore limits
ICRA on 15 June 2026 continued S.S. Enterprises Electricals' '[ICRA]D' ratings under the 'Issuer Not Cooperating' category on total facilities of Rs. 5 crore — Rs. 4 crore of fund-based cash credit and Rs. 1 crore of short-term non-fund-based limits. Based on best available information after the issuer stopped cooperating, the ratings signal continued default status on the firm's bank facilities.
EARNINGS CALL & ANALYST MEET 8ICICI Securities reiterates BUY on Suzlon with Rs. 65 target, citing 5.5 GW order book and 'Suzlon 2.0' strategy
ICICI Securities on 15 June 2026 reiterated a BUY on Suzlon Energy with a target price of Rs. 65 against a then-current price of Rs. 55, implying roughly 18% upside. The note frames 'Suzlon 2.0' as a shift from a wind EPC-O&M provider to a full-stack renewable solutions house, backed by a 5.5 GW order book. FY31 targets include a 15 GW order book, 10 GW of RE sales, 3 GW-plus of export orders and a 70 GW-plus RE asset base under management, with order conversion flagged as the key monitorable.
8Prabhudas Lilladher stays BUY on JSW Energy at Rs. 646 after Rs. 47 mn/MW acquisition of MCCPL's 300 MW thermal asset
Prabhudas Lilladher on 15 June 2026 maintained a BUY on JSW Energy with a target price of Rs. 646 (current price Rs. 559) following the company's definitive agreement to acquire MCCPL's 300 MW operational thermal asset at roughly Rs. 47 million per MW. The brokerage called the deal earnings-accretive, revised FY27E/FY28E EBITDA estimates upward and lifted its FY27E sales projection to Rs. 225,863 million, noting the deal adds operational thermal capacity at a low entry valuation.
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