Intimation of receipt of the In-Principle approval from National Stock Exchange of India Limited and BSE Limited for issue of Convertible Equity Warrants to Promoter category on a preferential basis.
Transcript of the Q4 FY26 Results conference call hosted on 27th May, 2026
Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Recording of Conference Call
Newspaper Publication
Investor Presentation
The detail regarding making of Investment in ZAP91 Solar India Private Limited a joint Venture Company is attached in Annexure-A.
Financials for the period ended 31st March, 2026
Outcome of Board Meeting held on 26th May, 2026
Intimation of schedule of Investor/Analyst conference call
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | 748.89 | 814.13 | 744.75 | 822.80 | 733.45 | 747.61 | 839.72 | 905.80 | 845.67 | 906.56 | 943.06 | 924.80 |
| YOY Revenue Growth % | 6.99% | -2.38% | 7.59% | 23.09% | -2.06% | -8.17% | 12.75% | 10.09% | 15.3% | 21.26% | 12.31% | 2.1% |
| Other Income | 11.79 | 5.91 | 6.13 | 16.48 | 7.44 | 5.92 | 6.73 | 7.25 | 8.33 | 13.04 | 15.96 | 8.90 |
| Total Income | 760.68 | 820.04 | 750.88 | 839.28 | 740.89 | 753.53 | 846.45 | 913.05 | 854.00 | 919.60 | 959.02 | 933.70 |
| Total Expenses + | 731.23 | 790.31 | 717.81 | 800.11 | 705.46 | 717.48 | 806.67 | 865.91 | 813.84 | 878.66 | 915.96 | 878.46 |
| Cost of Materials Consumed | 492.53 | 515.48 | 444.31 | 496.98 | 441.68 | 464.89 | 517.09 | 522.85 | 510.95 | 604.74 | 477.63 | 506.90 |
| Employee Benefit Expense | 80.52 | 77.67 | 71.63 | 80.15 | 75.99 | 81.02 | 89.95 | 89.58 | 92.51 | 95.95 | 107.35 | 96.30 |
| Other Expenses | 141.74 | 163.61 | 145.02 | 159.54 | 144.29 | 156.53 | 151.31 | 202.47 | 181.59 | 183.91 | 191.01 | 221.41 |
| Operating Profit | 17.66 | 23.82 | 26.94 | 22.69 | 27.99 | 30.13 | 33.05 | 39.89 | 31.83 | 27.90 | 27.10 | 46.34 |
| OPM % | 2.4% | 2.9% | 3.6% | 2.8% | 3.8% | 4% | 3.9% | 4.4% | 3.8% | 3.1% | 2.9% | 5% |
| Profit Before Tax + | 29.45 | 29.73 | 33.07 | 39.17 | 35.43 | 36.05 | 39.78 | 47.14 | 40.16 | 40.94 | 43.06 | 55.24 |
| Tax Expense | 7.64 | 7.37 | 7.70 | 10.36 | 9.03 | 9.18 | 9.32 | 11.42 | 8.20 | 8.66 | 9.51 | 14.20 |
| Tax % | 25.9% | 24.8% | 23.3% | 26.4% | 25.5% | 25.5% | 23.4% | 24.2% | 20.4% | 21.2% | 22.1% | 25.7% |
| Profit After Tax | 21.81 | 22.36 | 25.37 | 28.81 | 26.40 | 26.87 | 30.46 | 35.72 | 31.96 | 32.28 | 33.55 | 41.04 |
| EPS (Basic) | 1.62 | 1.67 | 1.88 | 2.12 | 1.96 | 1.99 | 2.25 | 2.64 | 2.37 | 2.39 | 2.49 | 3.04 |
| Particulars | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|---|
| Revenue from Operations | 3,620.09 | 3,226.58 | 3,130.57 | 2,894.62 | 2,265.75 | 1,525.35 | 2,106.55 |
| YOY Revenue Growth % | 12.2% | 3.07% | 8.15% | 27.76% | 48.54% | -27.59% | - |
| Other Income | 46.23 | 36.69 | 40.31 | 33.43 | 17.06 | 18.66 | 20.28 |
| Total Income | 3,666.32 | 3,263.27 | 3,170.88 | 2,928.05 | 2,282.81 | 1,544.01 | 2,126.83 |
| Total Expenses + | 3,486.75 | 3,104.87 | 3,039.46 | 2,829.61 | 2,226.90 | 1,560.32 | 1,864.24 |
| Cost of Materials Consumed | 2,100.22 | 1,946.51 | 1,949.30 | 1,766.31 | 1,297.62 | 927.54 | 1,184.60 |
| Employee Benefit Expense | 392.11 | 336.54 | 309.97 | 310.31 | 208.45 | 136.38 | 161.84 |
| Other Expenses | 777.75 | 663.95 | 609.91 | 561.72 | 484.35 | 376.19 | 517.80 |
| Operating Profit | 133.34 | 121.71 | 91.11 | 65.01 | 38.85 | -34.97 | 242.31 |
| OPM % | 3.7% | 3.8% | 2.9% | 2.2% | 1.7% | -2.3% | 11.5% |
| Profit Before Exceptional | 179.57 | 158.40 | 131.42 | 98.44 | 55.91 | -16.31 | 63.12 |
| Exceptional Items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 19.96 | 0.00 |
| Profit Before Tax + | 179.57 | 158.40 | 131.42 | 98.44 | 55.91 | 3.65 | 63.12 |
| Tax Expense | 40.74 | 38.95 | 33.07 | 23.01 | 14.00 | 0.81 | 9.72 |
| Tax % | 22.7% | 24.6% | 25.2% | 23.4% | 25% | 22.2% | 15.4% |
| Profit After Tax | 138.83 | 119.45 | 98.35 | 75.43 | 41.91 | 2.84 | 53.40 |
| EPS (Basic) | 10.29 | 8.84 | 7.29 | 5.49 | 2.94 | 0.18 | 3.51 |
| Particulars | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|---|
| ASSETS | |||||||
| Non-Current Assets + | 1,306.15 | 1,048.17 | 1,003.67 | 819.77 | 769.64 | 707.47 | 0.00 |
| Property, Plant & Equipment | 937.53 | 833.07 | 608.33 | 628.25 | 561.74 | 554.86 | 0.00 |
| Capital Work in Progress | 135.52 | 53.14 | 217.63 | 18.25 | 75.72 | 61.23 | 0.00 |
| Non-Current Investments | 9.87 | 4.64 | 2.86 | 0.02 | 0.02 | 0.02 | 0.00 |
| Goodwill | 1.16 | 0.00 | 0.00 | 0.00 | 0.00 | 3.22 | 0.00 |
| Other Intangible Assets | 6.74 | 7.87 | 88.88 | 92.30 | 12.43 | 13.24 | 0.00 |
| Current Assets + | 2,244.44 | 1,906.02 | 1,636.39 | 1,498.45 | 1,371.39 | 1,185.07 | 0.00 |
| Inventories | 1,010.41 | 935.33 | 825.17 | 782.70 | 642.85 | 486.55 | 0.00 |
| Trade Receivables | 731.46 | 580.38 | 494.55 | 363.46 | 425.06 | 427.02 | 0.00 |
| Cash and Cash Equivalents | 205.57 | 141.37 | 89.78 | 142.99 | 37.77 | 33.53 | 0.00 |
| Current Investments | 1.53 | 1.48 | 18.73 | 26.97 | 44.97 | 17.57 | 0.00 |
| LIABILITIES & EQUITY | |||||||
| Total Equity | 1,163.15 | 999.60 | 877.47 | 778.98 | 736.13 | 696.70 | 0.00 |
| Equity Share Capital | 67.47 | 67.47 | 67.47 | 67.47 | 71.08 | 71.08 | 0.00 |
| Other Equity | 1,095.68 | 930.98 | 809.03 | 710.55 | 664.10 | 624.75 | 0.00 |
| Non-Current Liabilities | 404.05 | 276.67 | 190.06 | 170.14 | 177.51 | 177.91 | 0.00 |
| Current Liabilities | 1,983.39 | 1,677.92 | 1,572.53 | 1,369.10 | 1,227.39 | 1,017.93 | 0.00 |
| Total Liabilities | 2,387.44 | 1,954.59 | 1,762.59 | 1,539.24 | 1,404.90 | 1,195.84 | 0.00 |
| Particulars | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activities | 202.12 | 255.98 | 224.72 | 244.12 | 167.42 | -44.39 | 0.00 |
| Cash from Investing Activities | -349.30 | -104.97 | -256.75 | -27.97 | -70.95 | -4.47 | 0.00 |
| Cash from Financing Activities | 211.07 | -100.39 | -22.30 | -112.59 | -92.23 | 43.37 | 0.00 |
| Net Increase/Decrease in Cash | 64.20 | 51.59 | -53.20 | 105.22 | 4.24 | -5.49 | 0.00 |