Key Financial Figures (₹ in Lakhs)

Quarter Ended September 30, 2026 (Q2 FY27):

  • Revenue from operations: 519.28
  • Other income: 267.84
  • Total Revenue: 787.12
  • Total Expenses: 427.60
  • Profit before tax: 359.52
  • Tax Expense (Deferred Tax): 84.12
  • Profit for the period: 275.40
  • Other comprehensive income: (10.02)
  • Total comprehensive income: 265.38
  • Basic Earnings Per Share (EPS): ₹0.21
  • Diluted EPS: ₹0.07
  • Paid-up equity share capital: 1,333.98

Half Year Ended September 30, 2026 (H1 FY27):

  • Revenue from operations: 822.57
  • Other income: 986.69 (includes ₹409.38 Lakhs bad debts recovered and ₹257.67 Lakhs interest income on Arbitration award)
  • Total Revenue: 1,809.26
  • Total Expenses: 1,023.93
  • Profit before tax: 785.33
  • Tax Expense (Deferred Tax): 184.86
  • Profit for the period: 600.47
  • Total comprehensive income: 590.87
  • Basic EPS: ₹0.45
  • Diluted EPS: ₹0.16

Comparative Figures (Quarter Ended September 30, 2025 - Q2 FY26):

  • Revenue from operations: 485.58
  • Profit for the period: 9.55
  • Basic EPS: ₹0.01

Segment-Wise Performance (Q2 FY27)

Revenue:

  • Solar Power Plant Operation: 665.39
  • Manufacturing and sale of Solar Power Systems: 1.22
  • EV: 0.24
  • Un-allocable Income: 120.27

Segment Result (Profit/(Loss) before tax and finance cost):

  • Solar Power Plant Operation: 345.82
  • Manufacturing and sale of Solar Power Systems: (45.30)
  • EV: (7.06)
  • Un-allocable: 67.94

Balance Sheet Highlights (as at September 30, 2026)

  • Total Assets: 12,314.75
  • Non-current assets: 4,119.42 (includes Property, Plant and Equipment of 2,900.48)
  • Current assets: 8,195.33 (includes Inventories of 1,177.44, Trade receivables of 2,159.92, Cash and cash equivalents of 41.31)
  • Total Equity: 9,457.40 (Equity share capital: 1,333.98; Other equity: 8,123.42)
  • Total Liabilities: 2,857.35

Cash Flow Statement (H1 FY27)

  • Net Cash from Operating Activities: 389.88
  • Net Cash used in Investing Activities: (403.64)
  • Net Cash used in Financing Activities: (3.67)
  • Net decrease in Cash & Cash Equivalents: (17.43)
  • Cash & Cash Equivalents at period end: 41.31

Auditor's Limited Review Report

Statutory Auditors, Ashok Khasgiwala & Co. LLP, issued a qualified conclusion on the review. The qualification pertains to accrued interest income on Fixed Deposits with Axis Bank amounting to ₹4.61 Lakhs for the quarter (₹9.16 Lakhs for H1 FY27) which has not been credited by the bank. This creates a difference of ₹89.37 Lakhs between the company's books and the bank confirmation.

Other Disclosures

  • The company has no subsidiaries, associates, or joint ventures.
  • The Board had previously approved a preferential issue of 1,275.70 lakh equity shares at ₹11 per share to non-promoters for ₹14,032.70 lakhs, approved by shareholders on December 1, 2025.
  • The Board also approved an issue of 2,400 lakh equity shares to SVA Family Welfare Trust against a convertible loan as per the resolution plan.
  • Figures for previous periods have been regrouped and reclassified for comparability.

Impact of Audit Qualification

Management provided an annexure quantifying the impact of the auditor's qualification on the results:

  • Turnover/Total income adjusted from ₹787.12 Lakhs to ₹782.51 Lakhs
  • Net Profit adjusted from ₹275.40 Lakhs to ₹270.79 Lakhs
  • EPS adjusted from ₹0.21 to ₹0.20
  • Total Assets adjusted from ₹12,314.76 Lakhs to ₹12,310.15 Lakhs
  • Net Worth adjusted from ₹9,457.40 Lakhs to ₹9,452.79 Lakhs