Solar order of about INR 4.86 crore, FY26 revenue nearly doubles; CWIP of INR 2,076.45 lacs for first solar project

Company says it signed an Investment Sale Agreement with Soleos Energy Limited on 27 June 2025 and recognised INR 2,076.45 lacs as CWIP for its solar power project.

Mon 5 Oct 2026

Investment Sale Agreement

signed with Soleos Energy Limited on 27 June 2025

CWIP recognised

INR 2,076.45 lacs for solar power project

Solar module order value

about INR 4.86 crore

FY 2025-26 revenue

INR 3,632.04 lacs (nearly doubled)

PAT

INR 181.41 lacs

What the company announced

The media release sets out three things: a strategic expansion into renewable energy, financial and operational highlights for FY 2025–26, and operational notes with governance disclosures.

The solar move

• The company says it signed an Investment Sale Agreement with Soleos Energy Limited on 27 June 2025 to develop solar power projects.
• It recognised INR 2,076.45 lacs as Capital Work in Progress (CWIP) towards its Solar Power Generation Project, described as its first CWIP addition in two years.
• Shareholders approved an amendment to the Company's Object Clause on 30 September 2025. The updated charter covers generation, transmission, trading and supply of electricity from renewable and conventional sources, plus Battery Energy Storage Systems (BESS) and electric vehicle (EV) charging infrastructure.
• Management said the amendment provides "greater flexibility to explore and undertake new business opportunities".

The new order

• A domestic purchase order valued at approximately INR 4.86 crore (exclusive of GST) from Zentaraa Infra Projects Private Limited.
• The order is for the supply of 3,600 Solar PV Modules, scheduled for execution in October 2026.

FY 2025–26 financial highlights

• Total revenue: INR 3,632.04 lacs, compared with INR 1,904.58 lacs in the previous year.
• Profit After Tax (PAT): INR 181.41 lacs, up from INR 101.72 lacs in the prior fiscal year.
• Purchases of stock-in-trade: INR 3,362.37 lacs. The company describes its model as an agile, asset-light trading enterprise without holding finished goods inventory.

Operational notes

• No operational revenue was recognised from the solar generation project in FY 2025–26; the release says operational cash flows and revenue entitlements accrue upon the discharge of consideration payable to the seller.
• Independent statutory auditors highlighted the CWIP capitalisation and its eventual transition to Property, Plant and Equipment (PPE) as a Key Audit Matter (KAM), reflecting the scale and materiality of the project.

How a retail investor can read this

The revenue and profit growth reported for FY 2025–26 comes from the trading business. The solar project is at the construction stage, shown as CWIP, and the module supply order is scheduled for execution in October 2026. The company frames this as a transition from trading operations towards clean power infrastructure.

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