Key Decisions Approved

1. Approval of Unaudited Financial Results: The Board considered and approved the Unaudited Standalone Financial Results for the quarter and half year ended 30th September 2026, along with the Limited Review Report issued by the statutory auditors.

2. Shifting of Registered Office: The Board approved the proposal to shift the Registered Office of the Company from the State of Rajasthan (Alwar) to the State of Gujarat (Rajkot), subject to approval of shareholders and other statutory/regulatory approvals under the Companies Act, 2013.

Meeting Details

The Board meeting commenced at 05:00 PM and concluded at 05:35 PM on 30th October 2026 at the Corporate Office: P-212 B, Gate No. 2, Lodhika GIDC, Rajkot – 360021.

Financial Results Analysis (Quarter Ended 30th September 2026)

  • Revenue from operations: ₹81.03 lakh (compared to ₹430.38 lakh in Q2 FY26 and ₹1,299.30 lakh in Q1 FY27)
  • Other Income: ₹0.00 lakh (compared to ₹10.54 lakh in Q2 FY26 and ₹548.10 lakh in Q1 FY27)
  • Total Revenue: ₹81.03 lakh
  • Total Expenses: ₹62.08 lakh (comprising Purchase of Stock-in-Trade: ₹29.73 lakh, Employee Benefit Expenses: ₹12.75 lakh, Other expenses: ₹19.60 lakh)
  • Profit before tax: ₹18.95 lakh
  • Tax Expense: ₹5.00 lakh (Current Tax)
  • Net Profit for the quarter: ₹13.95 lakh
  • Earnings per share (Basic): ₹0.16
  • Earnings per share (Diluted): ₹0.16

Half Year Performance (Ended 30th September 2026)

  • Revenue from operations: ₹1,380.33 lakh (compared to ₹1,525.84 lakh in H1 FY26)
  • Other Income: ₹548.10 lakh (compared to ₹10.62 lakh in H1 FY26)
  • Total Revenue: ₹1,928.43 lakh
  • Profit before tax: ₹240.24 lakh (compared to loss of ₹8.88 lakh in H1 FY26)
  • Tax Expense: ₹60.33 lakh (Current Tax)
  • Net Profit for half year: ₹179.91 lakh (compared to loss of ₹8.88 lakh in H1 FY26)
  • Earnings per share (Basic): ₹2.00
  • Earnings per share (Diluted): ₹2.00

Balance Sheet Highlights (As at 30th September 2026)

  • Total Assets: ₹9,984.18 lakh (compared to ₹8,665.52 lakh as at 31st March 2026)
  • Non-current assets: ₹230.24 lakh (including Property, Plant & Equipment: ₹1.33 lakh, Deferred Tax Asset: ₹12.04 lakh, Loan & Advances: ₹216.87 lakh)
  • Current assets: ₹9,753.95 lakh (including Trade Receivable: ₹2,477.21 lakh, Cash and Cash equivalent: ₹1.90 lakh, Short Term Loan: ₹7,258.96 lakh)
  • Total Equity: ₹8,800.67 lakh (Share Capital: ₹975.45 lakh, Reserves and Surplus: ₹7,825.22 lakh)
  • Current Liabilities: ₹1,183.51 lakh (Borrowings: ₹15.50 lakh, Trade payables: ₹1,058.75 lakh, Duties & Taxes: ₹28.98 lakh, Provisions: ₹80.29 lakh)

Cash Flow Statement (Half Year Ended 30th September 2026)

  • Net cash used in operating activities: ₹(749.18) lakh
  • Net cash used in investing activities: ₹(0.73) lakh
  • Net cash used in financing activities: ₹(0.11) lakh
  • Net decrease in cash and cash equivalents: ₹(750.02) lakh
  • Cash and cash equivalents at end of period: ₹1.90 lakh

Additional Notes

1. The results were approved by the Audit Committee and Board of Directors on 30th October 2026

2. Prepared in accordance with Indian Accounting Standards (Ind AS)

3. Company operates in a single segment: "Renewable Energy Sector Solar Module Products"

4. No investor complaints were received during the quarter ended 30th September 2026

5. Previous period figures have been regrouped for comparability

Auditor's Review Report

M/s. A H Mandaliya & Associates, Chartered Accountants (FRN: 146705W), issued a limited review report stating that based on their review, nothing has come to their attention that causes them to believe that the financial results contain any material misstatement. The review was conducted in accordance with SRE 2410 issued by ICAI.