A meeting of the Board of Directors of Citizen Solar Limited was held on Thursday, 28th May 2026 at the Registered Office of the Company. The meeting commenced at 12:00 Noon and concluded at 01:00 PM.

The Board considered and approved the following matters:

Financial Results and Statements

  • Approved the Audited Standalone Financial Results of the Company for the quarter and financial year ended 31st March 2026.
  • Approved the Audited Standalone Financial Statements of the Company for the financial year ended 31st March 2026, comprising the Balance Sheet, Statement of Profit and Loss, Cash Flow Statement, and Notes forming part of financial statements.

Audit Matters

  • Took note of the Audit Report issued by the Statutory Auditors on the Audited Financial Results and Financial Statements for the financial year ended 31st March 2026.
  • Approved declaration pursuant to Regulation 33(3)(d) of SEBI (LODR) Regulations, 2015 confirming issuance of Audit Report with Unmodified Opinion by the Statutory Auditors.
  • Approved Statement on Impact of Audit Qualifications for the financial year ended 31st March 2026, if applicable.

Related Party Transactions

  • Approved disclosure of Related Party Transactions pursuant to Regulation 23(9) of SEBI (LODR) Regulations, 2015.

Director Changes

  • Accepted the resignation of Mr. Ravindra Jain (DIN: 00412684) from the position of Director of the Company with effect from closure of business hours of 29th May 2026. The Board placed on record its appreciation for his contributions.
  • Approved appointment of five new directors, subject to approval of shareholders and other applicable regulatory approvals, with effect from 28th May 2026:
  • Mr. Tansukhraj Lalchand Jain (Brother of Managing Director Mr. Omprakash Jain)
  • Mr. Harsh Omprakash Jain (DIN: 00269655, Son of Managing Director Mr. Omprakash Jain, Education: Bachelor of Commerce)
  • Mr. Haresh Kumar Jivanlal Parmar (DIN: 01955268, 32 years of experience in corporate advisory, financial oversight, taxation, audits, risk management, and strategic business consulting. Not related to any existing Director)
  • Mr. Sagar Tansukhraj Jain (DIN: 08829186, Son of Tansukhraj Jain, Education: B Com)
  • Mr. Vikas Agrawal (Experienced Practicing Chartered Accountant with expertise in Finance, Taxation, Audit, Corporate Compliance and Strategic Advisory. Not related to any existing Director)

All new appointments are for a term of five years, subject to shareholder approval at the ensuing general meeting.

Board Committee Reconstitution

  • Approved reconstitution of various Committees of the Board with effect from 28th May 2026:
  • Audit Committee: CA Hareshkumar Parmar (Chairman), CA Vikash Agrawal (Member), Omprakash Lalchand Jain (Member)
  • Nomination and Remuneration Committee: CA Vikash Agrawal (Chairman), CA Hareshkumar Parmar (Member), Omprakash Jain (Member)
  • Stakeholders Relationship Committee: CA Hareshkumar Parmar (Chairman), CA Vikash Agrawal (Member), Chirag Jirawala (Member), Omprakash Jain (Member), Tansukhraj Jain (Member)

Cost Auditor Appointment

  • Approved appointment of M/s. R J & Associates, Cost Accountants, Ahmedabad (FRN: 004690), as Cost Auditor of the Company for conducting Cost Audit for the Financial Years 2025-26 and 2026-27.
  • The appointment is subject to ratification of remuneration by shareholders pursuant to Section 148 of the Companies Act, 2013 and applicable rules.
  • The appointment follows the applicability of Cost Audit provisions arising from the amalgamation of Citizen Solar Private Limited with the Company.
  • Consent and eligibility certificate from the Cost Auditor was placed before the Board.