Key Decisions and Financial Results

The Board of Directors, at its meeting held on Tuesday, November 03, 2026 (commencing at 04:30 p.m. and concluding at 06:00 p.m.), considered and approved the following items:

1. Unaudited Financial Results: Approved the Unaudited Standalone and Consolidated Financial Results for the quarter and half year ended September 30, 2026, along with the Independent Auditor's Limited Review Report. These results were reviewed and recommended by the Audit Committee and approved by the Board in their respective meetings held on the same day.

2. Acquisition Approval: On the recommendation of the Audit Committee, approved the acquisition of the remaining 49% of the equity share capital of U R Energy (Solar) Private Limited from its existing shareholders. Upon completion, U R Energy (Solar) Private Limited will become a wholly-owned subsidiary of the Company.

Acquisition Details (Annexure-I)

The details required under SEBI regulations for the acquisition are as follows:

  • Target Entity: U R Energy (Solar) Private Limited
  • Capital Structure: Authorized Capital: ₹1.00 Lakh; Paid-up Capital: ₹1.00 Lakh
  • Financials: Turnover: ₹0; Net worth: -₹247,540
  • Related Party Transaction: Yes, the transaction falls within the definition of "Related Party" under Section 2(76) of the Companies Act, 2013 and Regulation 2(1)(zb) of SEBI Listing Regulations, 2015. U R Energy (Solar) Private Limited is a related party due to being a Promoter and Promoter group Company. The acquisition is stated to be on an "arm's length basis."
  • Industry: Solar Energy
  • Objects of Acquisition: To carry on the business of manufacturing solar panels, inverters, cables, and other electronic accessories for power plant installation, as well as the production and supply of solar energy. The business is not outside the main line of business of the Company.
  • Governmental Approvals: Not applicable
  • Time Period for Completion: Not applicable
  • Consideration: Cash consideration of ₹49,000 (Rupees Forty Nine Thousand only)
  • Shareholding Acquired: 49%
  • Background of Acquired Entity:
  • Business: Manufacturing of solar panels, inverters, cables, and other electronic accessories; production and supply of solar energy.
  • Date of Incorporation: November 25, 2014
  • Country of Presence: India
  • Turnover History (Audited): FY 23-24: NIL; FY 24-25: NIL; FY 25-26: NIL

Consolidated Financial Results (Quarter/Half Year Ended September 30, 2026)

(Rs. in Lakh, except per share data)

Income Statement Highlights

Quarter Ended September 30, 2026 (Unaudited):

  • Revenue from Operations: ₹371.16
  • Other Income: ₹248.37
  • Total Income: ₹619.53
  • Total Expenses: ₹668.22
  • Loss before tax: (₹48.69)
  • Tax Expense: ₹0.00
  • Profit/(Loss) for the period: (₹48.69)
  • Other Comprehensive Income (Net of Tax): (₹46.73)
  • Total Comprehensive Income: (₹95.42)
  • Earnings Per Share (Basic): (₹0.44)
  • Earnings Per Share (Diluted): (₹0.44)

Half Year Ended September 30, 2026 (Unaudited):

  • Revenue from Operations: ₹2,077.44
  • Other Income: ₹421.28
  • Total Income: ₹2,498.72
  • Total Expenses: ₹2,695.33
  • Loss before tax: (₹196.61)
  • Tax Expense: ₹0.00
  • Profit/(Loss) for the period: (₹196.61)
  • Other Comprehensive Income (Net of Tax): (₹46.73)
  • Total Comprehensive Income: (₹243.34)
  • Earnings Per Share (Basic): (₹1.77)
  • Earnings Per Share (Diluted): (₹1.77)

Comparative Figures (Quarter Ended September 30, 2025 - Unaudited):

  • Total Income: ₹4,197.94
  • Profit/(Loss) for the period: (₹62.80)
  • EPS (Basic): (₹0.58)

Year Ended March 31, 2026 (Audited):

  • Total Income: ₹11,880.25
  • Profit/(Loss) for the year: ₹195.30
  • EPS (Basic): ₹1.66

Key Balance Sheet Items (Consolidated - as of September 30, 2026)

  • Total Assets: ₹13,345.75 Lakh
  • Total Equity: ₹11,795.55 Lakh
  • Equity Share Capital: ₹1,110.20 Lakh
  • Other Equity: ₹10,686.56 Lakh
  • Non-current Liabilities: ₹613.09 Lakh
  • Current Liabilities: ₹937.11 Lakh

Cash Flow Statement (Consolidated - Half Year Ended September 30, 2026)

  • Net Cash from Operating Activities: (₹658.79)
  • Net Cash from Investing Activities: (₹859.44)
  • Net Cash from Financing Activities: (₹233.91)
  • Net decrease in Cash & Equivalents: (₹1,752.14)
  • Cash & Equivalents at period end: ₹49.15

Standalone Financial Results

Standalone results are substantially similar to the consolidated results for the holding company, Jhaveri Credits and Capital Ltd.

Notes to Financial Results

1. The Audit Committee reviewed and the Board approved the results on November 03, 2026. Statutory Auditors carried out a Limited Review.

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

3. Figures for previous periods regrouped/reclassified for comparability.

4. The company operates in a single business segment.

5. Results are available on BSE website (www.bseindia.com) and company website (www.jhavericredits.com).

6. The Scheme of Amalgamation of U R Energy (India) Private Limited with the Company was sanctioned by NCLT, Ahmedabad Bench on March 16, 2026, with an appointed date of April 1, 2024. Comparative figures have been restated.

7. During the quarter, the company acquired majority shares in U R Energy (Solar) Pvt Ltd for a total of ₹0.51 Lakhs.