Notice of 70th Annual General Meeting and Annual Report for the financial year 2025-26

Annual Report Corporate 2025-26 Overview INSIDE THE REPORT CORPORATE INFORMATION 01-23 24-130 Board of Directors Risk Management Committee Registrars and Share Transfer Agents Mr. Rathindra Nath Basu Ms. Rashmi Joshi CORPORATE OVERVIEW STATUTORY REPORTS Chairman & Independent Director Mr. Sandeep Zanzaria MUFG Intime India Private Limited Mr. Sandeep Zanzaria – Managing Mr. Rathindra Nath Basu (Formerly Link Intime India Private Director & Chief Executive Officer Mr. Sanjay Sagar Limited) 01 Corporate Information 24 Directors' Report and its Annexures. Mr. Sushil Kumar – Whole-time Mr. Johan Bindele Rasoi Court, 5th Floor, 20 Sir R N 02 Chairman Message 38 Annexure-A Report on Corporate Governance Director & Chief Financial Officer Mr. Jesus Gonzalez Gonzalez Mukherjee Road, Mr. Johan Bindele – Non-Executive Mr. Fabrice Aumont Kolkata, West Bengal,700001 04 Managing Director and CEO Message 59 Annexure-B Annual Report on Corporate Social Director Tel. No.: +91 033 6906 6200 Responsibility for the Financial Year 06 Board of Directors Mr. Jesus Gonzalez Gonzalez-Non- Asset Committee MailId: investor.helpdesk@in.mpms. 2025-26 Executive Director mufg.com 10 About GE Vernova 62 Annexure-C Certificate of Non disqualification of Mr. Fabrice Aumont- Non-Executive Mr. Sandeep Zanzaria, Chairman Website: www.in.mpms.mufg.com 14 About GE Vernova T&D India Limited Directors Director Mr. Sushil Kumar Mr. Marco Simiano- Non-Executive Ms. Rashmi Joshi Bankers 63 Annexure-D Information Required under Section 197 16 Pioneering T&D Technology in India Director, w.ef. 01 July 2026. of the Companies Act,2013 Ms. Rashmi Joshi- Independent Sustainability Committee Axis Bank Limited 17 Building a Stronger Grid for India 64 Annexure-E Conservation of Energy, Technology Director Citibank N.A. 18 Growing with strength and stability Absorption, Foreign Exchange and Mr. Sanjay Sagar - Independent Director Ms. Rashmi Joshi Credit Agricole CIB Earnings Mr. Sandeep Zanzaria HSBC 19 Driving Shareholder Value Committees of Directors Mr. Sushil Kumar HDFC Bank 66 Annexure-F Declaration by the Managing Director & 20 Corporate Social Responsibility Chief Executive Officer Audit Committee ICICI Bank Limited Company Secretary & IDBI Bank Limited 22 Towards Zero Harm and a Sustainable Future 67 Annexure-G Management Discussion and Analysis Mr. Sanjay Sagar, Chairman Compliance Officer Standard Chartered Bank Report Mr. Rathindra Nath Basu YES Bank 75 Annexure-H Secretarial Audit Report Mr. Johan Bindele Ms. Shweta Mehta Deutsche Bank AG. Ms. Rashmi Joshi Sumitomo Mitsui Banking Corporation 79 Business Responsibility & Sustainability Reporting Auditors DBS Bank India Limited Stakeholders Relationship Committee Deloitte Haskins & Sells, Corporate Identity Number 131-222 Chartered Accountants Mr. Rathindra Nath Basu, Chairman L31102DL1957PLC193993 FINANCIAL STATEMENTS Mr. Sandeep Zanzaria Cost Auditors Mr. Sushil Kumar Registered Office M/s. Ramanathan Iyer & Company, Cost Accountants A-18, First Floor, FIEE Complex, Okhla 132 Independent Auditor's Report Corporate Social Industrial Area, Phase II, New Delhi - Responsibility Committee Secretarial Auditors 110 020 144 Balance Sheet Tel. No. 0120-5021500 Mr. Rathindra Nath Basu, Chairman 145 Statement of Profit and Loss M/s. RMG & Associates, Mr. Sandeep Zanzaria Company Secretaries Website: Mr. Sushil Kumar 146 Statement of Cash Flows https://www.gevernova.com/regions/ 148 Statement of changes in equity Nomination and Remuneration asia/in/gevernova-td-india Committee 149 Notes to the Financial Statements Mr. Sanjay Sagar, Chairman Mr. Rathindra Nath Basu Mr. Johan Bindele 223-225 For more information visit GLOSSARY https://www.gevernova.com GE Vernova T&D India Limited 01 Annual Report Corporate Annual Report Corporate 2025-26 Overview 2025-26 Overview CHAIRMAN MESSAGE India’s Energy Transition Fuelling Transmission Building for Sustainable, Profitable Growth India’s transmission sector is entering Growth a multi-year investment cycle, and Your Company remains focused on disciplined execution GE Vernova T&D India is strategically India’s power sector delivered a strong performance in FY2025– and on selective commercial approach, prioritizing margin- 26, recording growth of 12%, as installed generation capacity accretive opportunities that support sustainable profitable positioned with technology, surpassed 532 GW, with over 52% capacity contributed by growth. Operational excellence continues to be a core priority manufacturing, and execution capabilities non-fossil fuel sources and the peak power demand reaching across businesses, with ongoing efforts to enhance productivity, to capitalize on this opportunity while 245 GW—underscoring the sector’s continued rapid cost competitiveness, quality, and delivery performance— transformation. This momentum is further reinforced by India’s strengthening profitability while consistently meeting evolving delivering sustained shareholder value. ambition to achieve 500 GW of renewable energy capacity and customer expectations. the projected ~80% increase in peak power demand by 2032, which are driving significant investments in grid modernization To support the rising market demand and future growth, My appreciation extends to our leadership team, including and expansion of transmission infrastructure. During the year, your Company is investing in manufacturing expansion, the CEO, the CFO, and the broader management team for non-fossil fuel capacity additions accelerated significantly localization, and advanced technology capabilities. Recent their strategic vision and disciplined execution. I am equally to approximately 55.3 GW, up from 29.5 GW in FY 2024–25, investments in HVDC valves, controls, and FACTS compensation happy to convey special thanks to our Board members for their reflecting wider deployment across key technologies. At the technologies strengthen readiness to address India’s evolving continued guidance and stewardship. The Board members with same time, India also solidified its position as the world’s third- grid requirements, particularly in renewable integration, grid their collective efforts have enabled your Company to deliver largest country in renewable energy installed capacity. stability, and high-capacity power transmission corridors. sustained value to all the stakeholders and have strengthened These initiatives, combined with continued investments in the Company’s position for the future. To support this rapid expansion of Transmission ecosystem, infrastructure, supply chain resilience, talent development, Dear Shareholders, India will require approximately 20,000 circuit kilometres of and sustainability, are helpful in positioning your Company Our Business Overview high-voltage transmission lines and 125 GVA of transformation with the scale, capabilities, and growth framework required India continues to stand out as one of the world’s fastest- capacity, annually, through 2032, representing an investment for long-term success. growing major economies, with strong domestic fundamentals, With a legacy spanning over a century in India, your Company opportunity exceeding ₹9 trillion. The Central Electricity sustained infrastructure investments, and policy-led industrial has built a strong reputation as a leading electrical infrastructure Authority’s long-term transmission outlook has further identified Commitment to Stakeholders infrastructure expansion reinforcing its long-term growth and power sector player and has earned its reputation as a an additional requirement for over 60 GW of new HVDC corridors trajectory. As the country advances toward becoming the trusted partner in building India’s electrification and energy through FY2032–36, thus reinforcing the strategic importance Your Company remains steadfast in its commitment to world’s third-largest economy by the end of the decade, its transition journey, particularly at the high end of technology. of advanced transmission [Showing first 8,000 characters — download PDF for full document]