Company Overview
Ujaas Energy Limited (CIN: L35201MP1999PLC013571) is a public limited company incorporated on June 9, 1999, with its registered office in Indore, Madhya Pradesh. The company operates in solar power generation, manufacturing and sales of solar power plants/projects, and electric vehicles manufacturing.
Financial Performance FY 2025-26
Ujaas Energy reported standalone revenue of ₹16.64 crore (down from ₹26.94 crore in FY25) and net profit of ₹3.16 crore (down 64% from ₹8.85 crore in FY25). Total segment revenue stood at ₹26.02 crore with solar power generation contributing ₹17.07 crore, manufacturing and sale of solar systems ₹5.73 crore, and EV segment ₹0.28 crore. Basic EPS was ₹0.24 compared to ₹0.66 in the previous year.
NCLT Resolution Plan Implementation
The company completed its Corporate Insolvency Resolution Process (CIRP) with NCLT approving the Resolution Plan submitted by SVA Family Welfare Trust and M&B Switchgears on October 13, 2023. The plan involved demerger of two divisions to resulting companies Bluehope Solutions Limited and Globlegreen Power Limited, with assets transferred totaling ₹12.50 crore. All pre-October 2023 liabilities were extinguished, and the Implementation and Monitoring Committee was dissolved on June 4, 2025.
Capital Structure Changes
Authorized share capital increased from ₹45 crore to ₹52 crore. Paid-up share capital changed from ₹10.66 crore to ₹13.34 crore through two bonus issues: 1.33 million shares in FY25 and 26.77 million shares in FY26 to achieve minimum public shareholding requirements. The resolution plan required issuance of 34 crore equity shares to Resolution Applicants, with 10 crore shares already allotted through loan conversion.
Corporate Governance and AGM
Following the demise of Mr. Shyamsunder Mundra on February 1, 2026, Mrs. Geeta Mundra was appointed as Non-Executive Director and Chairman effective April 15, 2026. The Annual General Meeting is scheduled for July 14, 2026, to adopt financial statements, reappoint directors, and consider special resolutions for ₹25 crore inter-corporate loans and ₹1,000 crore borrowing limit approval.
Audit Qualifications and Compliance
Statutory auditors issued a qualified opinion noting ₹17.49 lakhs accrued interest discrepancy with Axis Bank and trade receivables of ₹28.56 crore pending external confirmations. The company incurred an ₹11.25 lakh penalty from NSE for MPS non-compliance, though 179 days were waived after representation. All mandatory committees are constituted and functional with full compliance to SEBI Listing Regulations.
Related Party Transactions and Future Plans
Significant transactions include ₹2,082.66 lakhs loans receivable from Blue River Finvest Private Limited and ₹2,400.00 lakhs loans payable to SVA Family Welfare Trust. The board approved a preferential issue of 127.57 million shares to non-promoters at ₹11 per share and conversion of RA loan into 240 million equity shares to promoters, subject to successful completion of preferential allotment.