BGR Energy Signs Debt Restructuring Agreement with NARCL

BGR Energy Systems has signed a Master Restructuring Agreement with NARCL to restructure INR 3,736 crore of outstanding debt.

Under the agreement, the debt comprises INR 1,245 crore of sustainable debt and INR 2,491 crore of unsustainable debt, based on outstanding debt as of October 1, 2025. The sustainable debt will be repaid over four years by September 30, 2030.

The restructuring is expected to reduce the company’s overall debt burden and improve its net worth, strengthening its financial position for its revival and growth plans.

The agreement comes amid a leadership transition at BGR Energy. Sasikala Raghupathy stepped down as Chairperson and Director effective September 30, 2026. Arjun Govind Raghupathy, Managing Director, has taken over as Chairman of the Board.

As part of its revival and diversification strategy, BGR Energy has also expanded its Engineering Services business. During FY26, the company secured engineering services assignments from international customers for power-sector projects.

The assignments cover engineering design, detailed engineering, technical documentation and project engineering support. The company said the business operates on an asset-light model with relatively lower capital requirements than conventional EPC projects.

BGR Energy plans to expand its engineering capabilities, adopt advanced digital engineering tools and pursue additional opportunities in domestic and international markets.