Incorporates wholly owned subsidiary SKIPPER GRIDTECH Inc

has informed the exchanges that it has incorporated a wholly owned subsidiary named SKIPPER GRIDTECH Inc in Texas, USA. The company has invested funds by subscribing to the shares of the new entity, with share capital and cost of acquisition stated as upto USD 50,000. Skipper holds a 100% stake, and the entity is therefore a related party. It was incorporated on 26.10.2026 and the business registration extract was received on 30.10.2026. The object stated is to carry on any and all lawful business for which a for-profit corporation may be organised under the Texas Business Organization Code. Financial commitment is immaterial (USD 50k); therefore near-term balance-sheet and leverage impact is negligible versus borrowings of ₹931 Cr and market cap ~₹5,789 Cr. Provides operational and commercial flexibility (local bank accounts, contracting vehicle, tax/regulatory footprint) that can help convert export order pipeline into revenues. Signals management focus on developed markets expansion and export diversification, consistent with recent large order inflows and stated capacity ramp-up plans. Being a related party requires transparent disclosure; governance and transfer-pricing/related-party transaction monitoring will be important going forward.