Summary of Key Information:
Reporting Period: Quarter ended June 30, 2026 (Q1 FY27)
Nature of Filing / Announcement: Outcome of Board Meeting - Approval of unaudited financial results
Audit Opinion:
Clean review report - No modifications or qualifications
Key Financial Highlights [₹ in millions]
Standalone Results:
Revenue from Operations: ₹3,441.21 (Q1 FY26: ₹4,107.63 | QoQ: ₹4,435.61)
Total Income: ₹3,474.67 (Q1 FY26: ₹4,238.22 | QoQ: ₹4,444.68)
Net Profit: ₹216.71 (Q1 FY26: ₹622.63 | QoQ: ₹740.43)
EPS: ₹1.96 (Q1 FY26: ₹5.62 | QoQ: ₹6.66)
Other Equity: Not Specified
Cash and Cash Equivalents: Not Specified
Debt: Not Specified
Consolidated Results:
Revenue from Operations: ₹4,735.60 (Q1 FY26: ₹5,130.47 | QoQ: ₹5,097.37)
Total Income: ₹4,816.83 (Q1 FY26: ₹5,150.27 | QoQ: ₹5,166.72)
Net Profit: ₹541.38 (Q1 FY26: ₹946.83 | QoQ: ₹925.34)
EPS: ₹4.86 (Q1 FY26: ₹8.55 | QoQ: ₹8.55)
Other Equity: ₹16,715.04
Cash and Cash Equivalents: Not Specified
Debt: Not Specified
Segment-wise Performance:
The Company operates in single business segment i.e. "Various types of Solar panel, Pumps & Motors" hence there are no reportable segments as per Ind AS 108 "Operating Segments".
Corporate Actions:
Dividend declarations: Not Specified
Share split/bonus/buyback: Not Specified
Other Significant Information:
Acquisition:
During the quarter ended June 30, 2026, the Company acquired an additional 12.6% equity stake in Walso Solar Solution Private Limited through its rights issue, increasing its shareholding to 51%. Consequently, Walso Solar Solution Private Limited became a subsidiary of the Company with effect from June 8, 2026.
IPO Proceeds Utilization:
Net IPO proceeds which were un-utilised as on June 30, 2026 for ₹2,326.70 millions (including ₹1,790.01 millions by subsidiary company) has been temporarily deployed in fixed deposit with scheduled commercial bank and ₹28.78 millions is in public issue bank account.
Detailed utilization:
- Funding capital expenditure: ₹898.60 (Utilized: ₹361.91 | Unutilized: ₹536.69)
- Investment in Oswal Solar Energy for new manufacturing units: ₹2,727.58 (Utilized: ₹937.57 | Unutilized: ₹1,790.01)
- Pre-payment of borrowings: ₹2,800.00 (Fully utilized)
- Investment for subsidiary borrowings repayment: ₹310.00 (Utilized: ₹310.00 | Fully utilized)
- General corporate purpose: ₹1,678.96 (Utilized: ₹1,650.18 | Unutilized: ₹28.78)
New Subsidiary:
During the quarter ended June 30, 2026, the Company incorporated a step down subsidiary M/s Oswal Doon Baran Bundi Solar Projects Limited effective May 06, 2026. The step-down subsidiary is yet to commence its operations.