Suryachakra Power seeks approval for electric marine expansion

Suryachakra Power Corporation Limited will seek shareholder approval on 4 December 2026 to add electric marine transport, related waterfront infrastructure and clean-energy activities to its main objects, following board approval on 13 November 2026. The proposed scope includes electric vessels, Bio-CNG, hydrogen, solar, wind and power trading.

What will Suryachakra Power shareholders vote on?

Suryachakra Power shareholders will vote on an alteration to the Memorandum of Association, or MOA, at an Extra-Ordinary General Meeting, or EGM, on Friday, 4 December 2026. The board approved the proposal on 13 November 2026 to insert proposed sub-clauses 2 and 3 under Clause III(A), covering the company’s main objects, subject to shareholder and other required approvals.

The 13 November 2026 filing does not say Suryachakra Power has started electric-boat, Bio-CNG or hydrogen operations. It states that the proposed amendments would permit these activities if shareholders approve them. The board meeting began at 6:00 pm and concluded at 6:30 pm, and also approved unaudited financial results for the quarter ended 30 September 2026.

The board separately discussed share-capital allotment connected to National Company Law Tribunal, or NCLT, orders dated 1 September 2022 and 18 July 2024, but deferred it for further deliberation. No allotment outcome was announced on 13 November 2026, and the deferral is separate from the proposed MOA amendment.

Which electric marine activities could Suryachakra Power undertake?

The proposed marine object would permit Suryachakra Power to design, make, retrofit, trade, lease, operate, repair and maintain electric and hybrid watercraft. The stated product range includes ferries, yachts, catamarans, water taxis, fishing boats, patrol boats, passenger boats, cargo vessels and autonomous marine vehicles powered by electric, hybrid, hydrogen, solar or other renewable-energy technologies.

The proposed scope also covers electric propulsion systems, motors, marine batteries, battery-management systems, or BMS, inverters, controllers, charging equipment, navigation equipment and onboard electronics. It would allow Suryachakra Power to establish and operate electric-boat charging stations, battery-swapping stations, marinas, jetties, ports, docking facilities, workshops and service centres for electric and hybrid vessels.

Passenger and cargo transport, inland and coastal transport, tourism, charter services, logistics and fleet management are among the commercial activities listed in the proposed object. Suryachakra Power could also conduct research, testing, certification, consultancy and development in electric mobility, marine engineering, energy storage, hydrogen fuel technologies and autonomous navigation.

The proposed wording permits joint ventures, licensing and technology-transfer arrangements with Indian or foreign entities. It also permits renewable-energy generation, procurement, storage and use for vessel charging and related infrastructure, but the 13 November 2026 announcement provides no project location, vessel number, investment amount or operating timetable.

What clean-energy businesses does Suryachakra Power propose to add?

The proposed clean-energy object would allow Suryachakra Power to produce Bio-CNG and compressed biogas, or CBG, from agricultural residue, cattle dung, sugarcane press mud, municipal solid waste and sewage-treatment-plant waste. The document identifies anaerobic decomposition as the production mechanism and refers to converting agricultural residue, cattle dung and municipal solid waste into CBG.

The same proposed object includes photovoltaic, or PV, solar, wind, hydel and other conventional or non-conventional energy sources, as well as related civil-engineering work. It also names hydrogen production using renewable power and products including solar modules, inverters, charge controllers, mounting structures, batteries, lanterns, chargeable lights and fans.

Suryachakra Power would also be permitted to pursue energy generation, transmission, distribution and power trading based on thermal, hydro, nuclear and gas power. The text includes the manufacture, trading, export and import of power-related equipment, ammonia and green hydrogen, as well as the generation, cultivation or purchase of Napier grass.

This clean-energy proposal has a wider stated scope than the marine provision because it includes feedstock-based gas, generation, hydrogen, equipment and power-market activities. However, the filing discloses no capacity in megawatts, CBG output, hydrogen volume, customer arrangement or capital-expenditure plan, so the action announced is a proposed expansion of permitted objects rather than an operating forecast.

What do Suryachakra Power’s results and ownership disclosures show?

Suryachakra Power reported a net loss of Rs 10.17 lakh for the quarter ended 30 September 2026, compared with a Rs 5.76 lakh loss in the quarter ended 30 June 2026. Total expenses rose to Rs 10.17 lakh from Rs 5.76 lakh, with other expenses increasing to Rs 8.96 lakh from Rs 5.45 lakh and employee-benefit expense rising to Rs 1.20 lakh from Rs 0.30 lakh.

For the half year ended 30 September 2026, Suryachakra Power recorded a loss of Rs 15.92 lakh, compared with a Rs 4.21 lakh loss for the half year ended 30 September 2025. The loss reported for the year ended 31 March 2026 was Rs 1.6449 crore, while other expenses were Rs 1.6419 crore.

The limited-review report draws attention to the sale of Suryachakra Power as a going concern under the insolvency process, while stating that its conclusion is not modified on that matter. The notes state that Indo Aquatics Limited acquired Suryachakra Power for Rs 1.94 crore under a sale certificate dated 14 June 2023 and assigned its rights to Reddy Investments Private Limited on 14 September 2023 for Rs 1.99 crore.

The notes say Reddy Investments Private Limited held 100% of Suryachakra Power’s equity as at the financial-results date, resulting in zero public shareholding. Suryachakra Power says it proposes to induct public shareholders within timelines permitted by applicable law, while the auditor says capital restructuring and the collection of current shareholding data from the registrar and transfer agent remain in process.

Conclusion

Suryachakra Power is seeking authority for a substantially broader range of businesses, from electric vessels and charging infrastructure to Bio-CNG, renewable power, hydrogen and power trading. The proposed MOA amendment sets out the legal scope sought, while the Rs 15.92 lakh half-year loss and continuing ownership restructuring provide the disclosed financial and corporate context.

The next scheduled event is the EGM on 4 December 2026, when shareholders will consider the additional main objects. Investors can also watch for progress on the proposed induction of public shareholders, the capital restructuring process, updated registrar and transfer-agent data, and the deferred share-capital allotment matter.