Summary of Company's Response
Surana Telecom and Power Limited provided a detailed clarification to the National Stock Exchange of India Ltd. (NSE) in response to their email dated 17 June 2026. The exchange had sought clarification on the financial results submitted by the Company on 19 May 2026.
Date of Communication and Nature of Query
The company's communication is dated 18 June 2026. The NSE's query raised three specific issues:
1. Period not mentioned in Cash Flow Statements of Standalone and Consolidated Financial Results
2. Financial results not submitted within the prescribed timeline
3. Discrepancy in XBRL filing - Figures of Reserves excluding Revaluation Reserve not mentioned
Company's Clarification on Trading Volume and Financial Results
While the query did not specifically address trading volume, the company provided detailed clarifications on the financial results discrepancies:
1. Cash Flow Statement Period Omission:
- The omission of the reporting period in the heading of the Standalone and Consolidated Cash Flow Statements was inadvertent
- Caused by an Excel printing error where the relevant cell containing the year was hidden/not displayed
- The statements pertain to the year ended 31 March 2026
- The omission is purely clerical and does not affect the financial information disclosed
- Revised financials were enclosed as Annexure-2
2. Submission Timeline Issue:
- Any delay in submission was due to technical issues encountered while filing on the Exchange portal
- Screenshots evidencing the technical error were enclosed as Annexure-1
- The results were submitted to BSE within the prescribed timelines on 19 May 2026 at 1:26:50 PM (Acknowledgement Number: 13041134)
3. XBRL Filing Discrepancy:
- A revised XBRL filing has been submitted incorporating the required details about Reserves excluding Revaluation Reserve
Reference to Regulatory Compliance
The company confirmed compliance with SEBI regulations, specifically noting that:
- The financial results were prepared in accordance with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- The results were audited by the Statutory Auditors, reviewed by the Audit Committee, and approved by the Board of Directors
- The Statutory Auditors issued an unmodified audit opinion on both standalone and consolidated financial results
Details of Financial Results Clarification
The financial results included several material adjustments:
Subsidiary Asset Revaluations:
- Tejas India Solar Energy Private Limited (wholly owned subsidiary): Value of stock reduced by ₹154.91 lakhs due to revaluation of dismantled 3 MW Solar Plant. Equity investment diluted by ₹156.33 lakhs, charged to Other Expenses.
- Surana Solar Systems Private Limited (subsidiary): Plant & Machinery reduced by ₹422.76 lakhs due to revaluation of dismantled 5 MW Solar Plant. Equity investment diluted by ₹297.35 lakhs, charged to Other Expenses.
- Both subsidiaries had negligible impact on consolidated revenue and net-worth
Other Income:
- Includes profit on sale of asset of ₹2,340.66 lakhs
Key Financial Figures - Standalone (Year ended 31 March 2026):
- Total Income: ₹5,403.30 lakhs
- Profit before tax: ₹2,993.58 lakhs
- Segment Revenue - Renewable Energy: ₹327.41 lakhs
- Segment Revenue - Trading & Others: ₹5,075.90 lakhs
- Total Assets: ₹25,695.68 lakhs
- Total Equity: ₹17,996.41 lakhs
Key Financial Figures - Consolidated (Year ended 31 March 2026):
- Revenue from operations: ₹6,079.49 lakhs
- Other Income: ₹3,825.46 lakhs
- Profit before tax: ₹2,691.37 lakhs
- Profit for the period: ₹2,164.08 lakhs
- Total Comprehensive income: ₹2,517.44 lakhs
- Earnings Per Share (Basic): ₹1.59
Segment Performance (Standalone):
- Renewable Energy segment showed improvement with profit of ₹66.22 lakhs for the year (compared to ₹83.23 lakhs previous year)
- Trading & Others segment performed significantly better with profit of ₹231.41 lakhs for the year (compared to ₹12.37 lakhs previous year)