Audit Opinion
M/s Raj Gupta & Co., Chartered Accountants, submitted auditor's reports with unmodified opinion for both standalone and consolidated financial results for the half year and year ended 31 March 2026.
The audit was conducted in accordance with Standards on Auditing specified under Section 143(10) of the Companies Act, 2013. The auditors confirmed independence in accordance with the ICAI Code of Ethics.
Financial Results - Standalone (₹ lakhs)
Income Statement:
- Revenue from operations: ₹7,107.10 (FY26) vs ₹4,601.42 (FY25)
- Other income: ₹23.41 (FY26) vs ₹17.44 (FY25)
- Total income: ₹7,130.51 (FY26) vs ₹4,613.86 (FY25)
Expenses:
- Purchase of stock-in-trade: ₹5,534.11 (FY26) vs ₹4,093.46 (FY25)
- Changes in inventories: (₹467.18) (FY26) vs (₹566.54) (FY25)
- Operating expenses: ₹199.99 (FY26) vs ₹147.53 (FY25)
- Employee benefit expenses: ₹223.35 (FY26) vs ₹133.69 (FY25)
- Finance cost: ₹306.94 (FY26) vs ₹122.57 (FY25)
- Depreciation & amortization: ₹68.00 (FY26) vs ₹20.03 (FY25)
- Other expenses: ₹186.71 (FY26) vs ₹106.58 (FY25)
- Total expenses: ₹6,241.80 (FY26) vs ₹4,057.31 (FY25)
Profitability:
- Profit before tax: ₹888.71 (FY26) vs ₹556.55 (FY25)
- Current tax: ₹207.33 (FY26) vs ₹140.67 (FY25)
- Deferred tax credit: (₹4.63) (FY26) vs (₹10.65) (FY25)
- Profit for the year: ₹608.05 (FY26) vs ₹416.47 (FY25)
- Earnings per share (₹): 7.56 (FY26) vs 5.22 (FY25)
Financial Results - Consolidated (₹ lakhs)
Subsidiaries Included:
1. Oneindig Jodhpur Solar Private Limited
2. Ziya Solar Energies Four Private Limited
3. Ziya Solar Energies Three Private Limited
Income Statement:
- Revenue from operations: ₹7,107.10 (FY26) vs ₹4,601.42 (FY25)
- Other income: ₹23.41 (FY26) vs ₹17.44 (FY25)
- Total income: ₹7,130.51 (FY26) vs ₹4,613.86 (FY25)
Profitability:
- Profit before tax: ₹888.71 (FY26) vs ₹556.55 (FY25)
- Current tax: ₹207.33 (FY26) vs ₹140.67 (FY25)
- Deferred tax expense: ₹73.33 (FY26) vs (₹0.65) (FY25)
- Profit for the year: ₹608.05 (FY26) vs ₹416.53 (FY25)
- Minority interest: (₹0.45) (FY26) vs ₹0.06 (FY25)
- Profit attributable to shareholders: ₹608.50 (FY26) vs ₹416.47 (FY25)
- Earnings per share (₹): 7.56 (FY26) vs 5.22 (FY25)
Balance Sheet Highlights - Consolidated (₹ lakhs)
Equity & Liabilities:
- Share capital: ₹804.42 (Mar 2026) vs ₹804.32 (Mar 2025)
- Reserves & surplus: ₹1,272.04 (Mar 2026) vs ₹635.54 (Mar 2025)
- Minority interest: ₹1.08 (Mar 2026) vs ₹1.53 (Mar 2025)
- Long-term borrowings: ₹2,320.70 (Mar 2026) vs ₹1,075.00 (Mar 2025)
- Trade payables: ₹2,301.79 (Mar 2026) vs ₹588.43 (Mar 2025)
Assets:
- Property, plant and equipment: ₹2,367.46 (Mar 2026) vs ₹1,543.00 (Mar 2025)
- Inventories: ₹1,863.90 (Mar 2026) vs ₹1,396.72 (Mar 2025)
- Trade receivables: ₹2,989.60 (Mar 2026) vs ₹1,126.30 (Mar 2025)
- Cash & bank balances: ₹645.16 (Mar 2026) vs ₹144.33 (Mar 2025)
IPO Details
The company successfully completed its Initial Public Offer (IPO) of fresh equity shares:
- Number of shares: 28,80,000 equity shares of face value ₹10 each
- Premium: ₹86 per share
- Total proceeds: ₹27,64,80,000.00 (₹2,764.80 lakh)
- Allotment date: 4 August 2026
- Status: Fully subscribed
The proceeds are in the process of utilization towards the capital requirements of the Company as stated in the IPO objects.
Segment Information
The company is engaged in a single business segment as per Accounting Standard (AS) 17 - Segment Reporting. Accordingly, separate segmental information has not been presented.
Notes on Financial Results
The audited financial results for the half year ended March 31, 2026 represent balancing figures between the audited financial figures of the full financial year ended March 31, 2026 and the unaudited financial results for the half year ended September 30, 2025.
Figures for previous periods have been regrouped/reclassified wherever necessary to make them comparable.