Company Overview
Surana Solar Limited (formerly Surana Ventures Limited) reported its financial results for FY 2025-26 and announced its 20th Annual General Meeting scheduled for September 28, 2026.
Financial Performance
FY 2025-26 Standalone Results:
- Revenue from Operations: ₹2,083.43 lakhs (₹20.83 crore), down from ₹3,880.03 lakhs in FY25
- Other Income: ₹692.76 lakhs, primarily from interest income (₹432.00 lakhs) and profit on sale of investments (₹198.71 lakhs)
- Net Profit: ₹123.97 lakhs (₹1.24 crore), significantly higher than ₹5.85 lakhs in FY25
- Basic EPS: ₹0.25 compared to ₹0.01 in previous year
- Property, Plant and Equipment additions: ₹1,810.75 lakhs, reflecting ongoing capital expenditure
Operational Highlights
The company successfully commenced commercial production at its new 180 MW TopCon Solar Cell Module manufacturing facility at Fabcity, Hyderabad. Surana Solar is actively participating in various government and non-government tenders for EPC contracts and solar rooftop business, while maintaining focus on operational efficiency and cost management.
AGM Details and Corporate Actions
The 20th Annual General Meeting will be held on September 28, 2026 via video conference. Key agenda items include:
- Adoption of audited financial statements for FY 2025-26
- Re-appointment of Shri Manish Surana as director
- Appointment of Shri Buvankar Shekarnath as Whole-time Director for 3 years
- Approval of material related party transactions worth ₹150 crore with 14 related parties
- Amendment of Memorandum of Association for AI data centers and digital infrastructure investments
Related Party Transactions
Significant transactions during FY26 included:
- Loans to related parties: ₹1,149.40 lakhs to Bhagyanagar Securities Pvt Ltd (₹263.57 lakhs), Shasons Private Limited (₹658.91 lakhs), and Surana Telecom and Power Ltd (₹226.93 lakhs)
- Sales to related parties including Surana Telecom & Power (₹61.27 lakhs), Scientia Infocom (₹88.87 lakhs), and Bhagyanagar Green Energy (₹70.85 lakhs)
Corporate Governance and Management Changes
The Board consists of 6 directors (5 Non-Executive, 1 Executive) with 3 Independent Directors. Key management changes included the resignation of CFO Anicode Ganeshan Srinath (May 30, 2026) and appointment of Buvankar Shekarnath as CFO (July 25, 2026).
Regulatory Compliance and Auditors
The financial statements were prepared in accordance with Indian Accounting Standards (Ind AS) and Companies Act, 2013. Statutory Auditors Luharuka & Associates issued an unqualified report, while Secretarial Audit by Rakhi Agarwal contained no qualifications. The company maintains compliance with SEBI Listing Regulations.
Subsequent Events and Contingencies
The company successfully recovered ₹666.63 lakhs advance paid to Paradip Port Trust along with ₹338.43 lakhs interest, based on an arbitral award and court order dated September 17, 2025. Contingent liabilities include commercial claims of ₹49.92 lakhs and bank guarantees issued of ₹275.00 lakhs.