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 | 579.86 | 633.83 | 584.66 | 659.38 | 602.43 | 600.20 | 654.24 | 721.30 | 655.18 | 705.17 | 715.71 | 671.69 |
| YOY Revenue Growth % | 4.06% | -0.75% | 8.94% | 18.64% | 3.89% | -5.31% | 11.9% | 9.39% | 8.76% | 17.49% | 9.4% | -6.88% |
| Other Income | 12.93 | 6.21 | 5.87 | 12.71 | 3.10 | 4.60 | 5.41 | 6.22 | 7.14 | 11.93 | 14.91 | 7.69 |
| Total Income | 592.79 | 640.04 | 590.53 | 672.09 | 605.53 | 604.80 | 659.65 | 727.52 | 662.32 | 717.10 | 730.62 | 679.38 |
| Total Expenses + | 575.38 | 622.50 | 569.77 | 648.02 | 580.59 | 574.38 | 628.80 | 692.39 | 634.37 | 684.81 | 699.57 | 641.08 |
| Cost of Materials Consumed | 401.02 | 409.44 | 362.10 | 402.96 | 369.60 | 388.19 | 411.27 | 427.43 | 408.47 | 482.40 | 354.26 | 372.65 |
| Employee Benefit Expense | 39.87 | 40.17 | 36.66 | 41.36 | 41.32 | 44.03 | 45.64 | 46.11 | 48.65 | 45.94 | 50.88 | 38.59 |
| Other Expenses | 124.98 | 149.29 | 123.02 | 153.99 | 127.34 | 142.75 | 131.36 | 175.07 | 153.47 | 156.00 | 157.82 | 186.45 |
| Operating Profit | 4.48 | 11.33 | 14.89 | 11.36 | 21.84 | 25.82 | 25.44 | 28.91 | 20.81 | 20.36 | 16.14 | 30.61 |
| OPM % | 0.8% | 1.8% | 2.5% | 1.7% | 3.6% | 4.3% | 3.9% | 4% | 3.2% | 2.9% | 2.3% | 4.6% |
| Profit Before Tax + | 17.41 | 17.54 | 20.76 | 24.07 | 24.94 | 30.42 | 30.85 | 35.13 | 27.95 | 32.29 | 31.05 | 38.30 |
| Tax Expense | 4.52 | 4.35 | 5.41 | 6.23 | 6.38 | 7.76 | 7.91 | 7.49 | 5.36 | 6.60 | 6.50 | 9.74 |
| Tax % | 26% | 24.8% | 26.1% | 25.9% | 25.6% | 25.5% | 25.6% | 21.3% | 19.2% | 20.4% | 20.9% | 25.4% |
| Profit After Tax | 12.89 | 13.19 | 15.35 | 17.84 | 18.56 | 22.66 | 22.94 | 27.64 | 22.59 | 25.69 | 24.55 | 28.56 |
| EPS (Basic) | 0.96 | 0.97 | 1.14 | 1.32 | 1.38 | 1.67 | 1.70 | 2.05 | 1.67 | 1.91 | 1.82 | 2.11 |
| Particulars | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|---|
| Revenue from Operations | 2,747.75 | 2,578.17 | 2,457.73 | 2,288.30 | 1,994.75 | 1,516.54 | 2,097.66 |
| YOY Revenue Growth % | 6.58% | 4.9% | 7.4% | 14.72% | 31.53% | -27.7% | - |
| Other Income | 41.67 | 28.68 | 37.72 | 37.27 | 18.65 | 17.81 | 20.29 |
| Total Income | 2,789.42 | 2,606.85 | 2,495.45 | 2,325.57 | 2,013.40 | 1,534.35 | 2,117.95 |
| Total Expenses + | 2,659.83 | 2,485.51 | 2,415.67 | 2,265.99 | 1,967.75 | 1,553.24 | 1,856.90 |
| Cost of Materials Consumed | 1,617.78 | 1,596.49 | 1,575.52 | 1,543.54 | 1,284.38 | 909.28 | 1,182.55 |
| Employee Benefit Expense | 184.06 | 177.10 | 158.06 | 153.74 | 150.48 | 130.50 | 156.87 |
| Other Expenses | 653.74 | 585.87 | 551.28 | 490.64 | 459.61 | 377.39 | 517.48 |
| Operating Profit | 87.92 | 92.66 | 42.06 | 22.31 | 27.00 | -36.70 | 240.76 |
| OPM % | 3.2% | 3.6% | 1.7% | 1% | 1.4% | -2.4% | 11.5% |
| Profit Before Exceptional | 129.59 | 121.34 | 79.78 | 59.58 | 45.65 | -18.89 | 61.95 |
| Exceptional Items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 19.96 | 0.00 |
| Profit Before Tax + | 129.59 | 121.34 | 79.78 | 59.58 | 45.65 | 1.07 | 61.95 |
| Tax Expense | 28.20 | 29.54 | 20.51 | 15.38 | 11.49 | 0.18 | 9.44 |
| Tax % | 21.8% | 24.3% | 25.7% | 25.8% | 25.2% | 16.8% | 15.2% |
| Profit After Tax | 101.39 | 91.80 | 59.27 | 44.20 | 34.16 | 0.89 | 52.51 |
| EPS (Basic) | 7.51 | 6.80 | 4.39 | 3.22 | 2.40 | 0.06 | 3.47 |
| Particulars | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|---|
| ASSETS | |||||||
| Non-Current Assets + | 1,131.11 | 991.74 | 945.76 | 811.25 | 779.44 | 713.82 | 0.00 |
| Property, Plant & Equipment | 714.17 | 751.98 | 554.79 | 575.90 | 520.94 | 554.34 | 0.00 |
| Capital Work in Progress | 122.89 | 35.57 | 180.68 | 10.05 | 75.56 | 53.35 | 0.00 |
| Non-Current Investments | 129.94 | 95.61 | 80.71 | 8.85 | 8.85 | 12.34 | 0.00 |
| Goodwill | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Intangible Assets | 6.08 | 7.07 | 51.71 | 54.98 | 11.73 | 13.05 | 0.00 |
| Current Assets + | 1,941.66 | 1,705.26 | 1,505.09 | 1,337.48 | 1,275.11 | 1,172.34 | 0.00 |
| Inventories | 958.41 | 907.70 | 793.74 | 736.64 | 576.51 | 468.26 | 0.00 |
| Trade Receivables | 613.86 | 527.21 | 446.66 | 363.29 | 424.20 | 447.18 | 0.00 |
| Cash and Cash Equivalents | 72.33 | 16.61 | 5.40 | 23.10 | 16.00 | 19.98 | 0.00 |
| Current Investments | 1.53 | 1.49 | 18.73 | 26.97 | 44.97 | 17.57 | 0.00 |
| LIABILITIES & EQUITY | |||||||
| Total Equity | 979.20 | 877.49 | 788.17 | 731.05 | 723.41 | 690.89 | 0.00 |
| Equity Share Capital | 67.47 | 67.47 | 67.47 | 67.47 | 71.08 | 71.08 | 0.00 |
| Other Equity | 911.73 | 810.02 | 720.70 | 663.58 | 652.33 | 619.81 | 0.00 |
| Non-Current Liabilities | 320.73 | 267.17 | 183.58 | 156.26 | 161.37 | 177.65 | 0.00 |
| Current Liabilities | 1,772.84 | 1,552.34 | 1,479.10 | 1,261.42 | 1,169.77 | 1,017.62 | 0.00 |
| Total Liabilities | 2,093.57 | 1,819.51 | 1,662.68 | 1,417.68 | 1,331.14 | 1,195.27 | 0.00 |
| Particulars | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activities | 185.67 | 169.43 | 211.46 | 116.64 | 209.49 | -55.47 | 0.00 |
| Cash from Investing Activities | -227.26 | -66.20 | -214.74 | -3.86 | -134.16 | -4.41 | 0.00 |
| Cash from Financing Activities | 97.31 | -92.02 | -14.41 | -105.67 | -79.31 | 44.21 | 0.00 |
| Net Increase/Decrease in Cash | 55.72 | 11.21 | -17.69 | 7.11 | -3.98 | -15.67 | 0.00 |