Disclosure Context
Citizen Solar Limited (formerly Citizen Infoline Limited) submitted regulatory filings to BSE Limited regarding outcomes of its Board Meeting held on 13th August 2026. The disclosure was made pursuant to Regulation 30 and other applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Scrip Code: 538786.
Financial Results Approval
The Board of Directors approved the Unaudited Standalone Financial Results for the quarter ended 30th June 2026 pursuant to Regulation 33 of SEBI LODR Regulations. The results were reviewed by the Audit Committee and approved by the Board.
Quarterly Financial Performance (Standalone)
Quarter Ended 30th June 2026:
- Revenue from Operations: ₹7.58 crore
- Other Income: ₹1.18 crore
- Total Income: ₹7.69 crore
- Total Expenses: ₹6.99 crore
- Profit Before Tax: ₹7.07 crore
- Tax Expense: ₹3.30 crore (Current Tax: ₹2.75 crore, Deferred Tax: ₹0.55 crore)
- Profit After Tax: ₹3.77 crore
- Basic EPS: ₹4.11
- Diluted EPS: ₹4.11
- Paid-up Equity Share Capital: ₹14.04 crore (Face Value ₹10 per share)
Comparative Performance:
- Quarter Ended 30th June 2025: Revenue ₹108.81 crore, PAT ₹15.20 crore, EPS ₹10.82
- Quarter Ended 31st March 2026: Revenue ₹70.98 crore, PAT ₹14.02 crore, EPS ₹9.98
- Year Ended 31st March 2026: Revenue ₹370.92 crore, PAT ₹22.43 crore, EPS ₹15.97
Limited Review Report
The Board took note of the Limited Review Report issued by M/s Krutesh Patel & Associates, Chartered Accountants (Firm Registration No.: 1000865W), on the Unaudited Standalone Financial Results. The auditors issued an unqualified opinion with an Emphasis of Matter regarding the amalgamation.
Board's Report and AGM Matters
The Board considered and approved the Board's Report for the Financial Year ended 31st March 2026 together with relevant annexures and disclosures, including the Secretarial Audit Report.
Annual General Meeting Details:
- Date: 21st September 2026 (Monday)
- Time: 12:00 PM
- Book Closure: 15th September 2026 to 21st September 2026 (both days inclusive)
- Cut-off Date for remote e-voting eligibility: 14th September 2026
Management Changes
Resignation: Ms. Reena Shah resigned as Company Secretary and Compliance Officer effective 12th August 2026. Her resignation letter cited "Resignation from the office of Company Secretary and Compliance Officer of the Company" as the reason.
Appointment: Mr. Abhijit Roy was appointed as Company Secretary and Compliance Officer effective 13th August 2026. His qualifications include:
- Associate Member of ICSI (Membership No. A-68723)
- Bachelor of Commerce degree with post-graduation in Commerce specializing in accounting
- Work experience in Legal and Secretarial matters covering Companies Act, SEBI LODR Regulations, and corporate laws
- Not related to any directors, holds no shares in the company
Other Board Approvals
- Appointment of Mrs. Jolly Krutesh Patel, Practising Company Secretary, as Scrutinizer for the AGM
- Authorization to Managing Director, Company Secretary, and other officers to undertake necessary filings and compliances with ROC, BSE, and other regulatory authorities
Amalgamation Note
The financial results reflect the amalgamation of Citizen Solar Private Limited (Transferor Company) with Citizen Solar Limited effective 1st April 2023 (Appointed Date) as sanctioned by the Hon'ble NCLT. The amalgamation was accounted for under Ind AS 103 - Business Combinations. Comparative figures for quarter ended 30th June 2025 have been restated to reflect the amalgamation. Figures for quarter and year ended 31st March 2026 already incorporated the amalgamation effect and required no further restatement.
Meeting Details
The Board Meeting commenced at 04:00 PM and concluded at 05:30 PM on 13th August 2026 at the Registered Office in Ahmedabad, Gujarat.