Key Quantitative Figures
Financial Results for Quarter Ended June 30, 2026 (Unaudited Standalone):
- Revenue from operations: ₹303.29 lakh
- Other income: ₹718.85 lakh (includes ₹409.38 lakh bad debts recovered and ₹257.67 lakh interest income on Arbitration award from Hindustan Aeronautics Limited for 15 MW solar power plant)
- Total revenue: ₹1,022.14 lakh
- Total expenses: ₹596.33 lakh
- Profit before tax: ₹425.81 lakh
- Tax expense: ₹100.74 lakh (deferred tax)
- Net profit for period: ₹325.07 lakh
- Earnings per share (Basic): ₹0.24; (Diluted): ₹0.09
- Paid-up equity share capital: ₹1,333.98 lakh (face value ₹1 per share)
- Other equity: ₹7,858.03 lakh
Segment-wise Performance (Quarter Ended June 30, 2026):
- Solar Power Plant Operation: Revenue ₹—, Segment result (loss) ₹(92.53) lakh
- Manufacturing and sale of Solar Power Systems: Revenue ₹—, Segment result (profit) ₹559.23 lakh
- EV: Revenue ₹—, Segment result (loss) ₹(9.35) lakh
- Un-allocable: ₹(29.75) lakh
Segment Assets (as of June 30, 2026):
- Solar Power Plant Operation: ₹3,178.47 lakh
- Manufacturing and Sale of Solar Power Systems: ₹1,520.76 lakh
- EV: ₹255.55 lakh
- Unallocated: ₹7,219.05 lakh
- Total segment assets: ₹12,173.83 lakh
Segment Liabilities (as of June 30, 2026):
- Solar Power Plant Operation: ₹215.58 lakh
- Manufacturing and Sale of Solar Power Systems: ₹270.55 lakh
- EV: ₹20.65 lakh
- Unallocated: ₹2,475.04 lakh
- Total segment liabilities: ₹2,981.82 lakh
Dates of Action
- Board meeting date: July 30, 2026 (commenced at 02:30 PM, concluded at 04:30 PM)
- Committee reconstitution effective: July 30, 2026
- Financial period ended: June 30, 2026
- Date of signing: July 30, 2026
Parties Involved
- Statutory Auditors: Ashok Khasgiwala & Co. LLP (Firm Reg. No. 000743C/C40003)
- Banks: Axis Bank (for fixed deposits)
- Counterparty: Hindustan Aeronautics Limited, Nashik
- Proposed Investors: Non-promoters for preferential issue
- Resolution Applicant: SVA Family Welfare Trust
- Stock Exchanges: NSE, BSE
Audit Qualification Impact
Auditors issued qualified opinion regarding accrued interest income on Fixed Deposits with Axis Bank amounting to ₹4.06 lakh for quarter ended June 2026 (₹6.70 lakh for Q1 FY26, ₹4.31 lakh for Q4 FY26, ₹17.49 lakh for FY26) which has not been credited by bank, creating difference between books and bank confirmation.
Quantified impact of qualification:
- Turnover/Total income adjusted from ₹1,022.14 lakh to ₹1,018.08 lakh
- Net profit adjusted from ₹325.07 lakh to ₹321.01 lakh
- EPS remains unchanged at ₹0.24
Committee Reconstitution Details
Corporate Social Responsibility (CSR) Committee (effective July 30, 2026):
1. Anurag Mundra (Director and CFO) - Chairman
2. Nilesh Rathi (Independent Director) - Member
3. Vikalp Mundra (Director) - Member
4. Geeta Mundra (Director) - Member
Nomination and Remuneration Committee (NRC) (effective July 30, 2026):
1. Nilesh Rathi (Independent Director) - Chairman
2. Surabhi Agrawal (Independent Director) - Member
3. Girish Kataria (Independent Director) - Member
4. Geeta Mundra (Non-Executive Director) - Member
Capital Structure Update
The Board had previously approved (November 3, 2025) and shareholders approved (December 1, 2025) preferential issue of 1,275.70 lakh equity shares of ₹1 face value at ₹11 per share (including premium of ₹10) to non-promoters for cash consideration aggregating ₹14,032.70 lakh. Company has filed for in-principal approval with stock exchanges.
The Board also approved issue of 2,400 lakh equity shares of ₹1 face value to SVA Family Welfare Trust (Resolution Applicant) against convertible RA loan as per approved resolution plan, subject to successful completion of preferential allotment.
Additional Information
- Company has no subsidiary/associate/joint venture entities
- Figures for quarter ended March 31, 2026 are balancing figures between audited annual figures and reviewed YTD figures
- Previous periods figures have been regrouped and reclassified for comparability
- CSR policy focuses on environment, employment, healthcare, education, rural development, women empowerment, and spiritual institutions