Quarterly results
standalone · as filed with NSE · Q1 FY27 back to Q4 FY24
| ₹ crore | Q1 FY27 | Q4 FY26 | Q3 FY26 | Q2 FY26 | Q1 FY26 | Q4 FY25 | Q3 FY25 | Q2 FY25 | Q1 FY25 | Q4 FY24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 3 | 5.6 | 3.5 | 4.9 | 2.6 | 7.8 | 8.2 | 4.7 | 6.3 | 6.8 |
| Other income | 7.2 | 1.3 | 1 | 0.6 | 6.6 | −2.3 | 3.7 | 1.6 | 4.4 | 25.2 |
| Total expenses | 6 | 6.4 | 4.3 | 4.5 | 6 | 7.3 | 5 | 5.1 | 5.9 | 7.1 |
| EBITDA | −2.8 | −0.5 | −0.7 | 0.5 | −3.2 | 0.6 | 3.4 | −0.2 | 0.5 | 1.9 |
| EBITDA margin | -92.0% | -9.7% | -18.8% | 10.8% | -122.3% | 8.0% | 41.7% | -3.4% | 8.7% | 27.2% |
| Finance costs | 0 | 0.1 | 0 | 0 | 0 | 0.1 | 0.1 | 0.1 | 0 | 0 |
| Depreciation | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 2.1 |
| Profit before tax | 4.3 | 0.5 | 0.2 | 0.9 | 3.2 | −1.9 | 6.9 | 1.2 | 4.8 | −4.1 |
| Tax | 1 | 0.1 | 0 | 0.8 | 0.7 | −2.2 | 3 | 0.4 | 1 | 0.1 |
| Net profit | 3.3 | 0.4 | 0.2 | 0.1 | 2.5 | 0.3 | 3.9 | 0.8 | 3.8 | −4.1 |
| Net margin | 107.2% | 7.5% | 4.5% | 2.0% | 93.9% | 3.9% | 48.1% | 17.0% | 60.7% | -60.6% |
| EPS (₹) | 0.24 | 0.03 | 0.01 | 0.01 | 0.22 | 0.03 | 0.37 | 0.07 | 0.36 | -0.26 |
| Net profit YoY | +30.8% | +39.6% | −96.0% | −88.0% | −34.8% | +107.3% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 |
|---|---|---|---|
| Revenue from operations | 16.6 | 26.9 | 26.7 |
| Other income | 9.4 | 7.4 | 26.1 |
| Total expenses | 21.2 | 23.3 | 44.8 |
| EBITDA | −3.9 | 4.4 | −0.1 |
| EBITDA margin | -23.6% | 16.4% | -0.2% |
| Finance costs | 0.2 | 0.3 | 10.5 |
| Depreciation | 0.5 | 0.5 | 7.5 |
| Profit before tax | 4.8 | 11 | −1.5 |
| Tax | 1.7 | 2.2 | −30.5 |
| Net profit | 3.2 | 8.9 | 29 |
| Net margin | 19.0% | 32.9% | 108.3% |
| EPS (₹) | 0.24 | 0.83 | 1.84 |
| Net profit YoY | −64.3% | −69.4% | – |
EPS is as filed for each period and is not restated for later bonus issues or splits.
Cash flow
annual · ₹ crore| ₹ crore | FY26 | FY25 | FY24 |
|---|---|---|---|
| Operating cash flow | 4.4 | 0.1 | 125 |
| Investing cash flow | −4 | −6.6 | −4.1 |
| Financing cash flow | −0.2 | 5.2 | −121 |
| Capital expenditure | 0 | 0.8 | 0 |
| Free cash flow (CFO − capex) | 4.3 | −0.7 | 125 |
Net profit trend
annual, ₹ croreFY24
₹29
FY25
₹8.9−69%
FY26
₹3.2−64%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Standalone | 30 Jul 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | – | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 30 Apr 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 20 Jan 2026 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 12 Nov 2025 | PDF XBRL |
| Q1 FY26 | Standalone | 12 Aug 2025 | PDF XBRL |
| Q4 FY25 | Standalone · audited | 28 May 2025 | PDF on NSE XBRL |
| Q3 FY25 | Standalone | 23 Jan 2025 | PDF on NSE XBRL |
| Q2 FY25 | Standalone | 13 Nov 2024 | PDF on NSE XBRL |
| Q1 FY25 | Standalone | 13 Aug 2024 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 336.4×624.1×
P/B5Y avg 15.58×27.64×
ROEFY26, on average equity3.6%
Net margin19.0%
Debt / equity0.27×
Revenue CAGR (3Y)–
Profit CAGR (3Y)–
EPS (TTM)₹0.29
Market cap₹2,451 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
27.64×
vs 4-point avg 15.58× (+77%)
12.07× low15.58× avg27.64× high
History points are balance-sheet dates (2024 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹117 Cr+4%
Net worth₹89 Cr+4%
Total borrowings₹24 Cr+0%
Cash & bank balances₹1 Cr+52%
Investments₹14 Cr+8%
Inventories₹12 Cr−2%
Trade receivables₹22 Cr−7%
Trade payables₹1 Cr+7%
Change vs the same date a year earlier.
Revenue mix FY26
(a) Solar Power Plant Operation65.6%result ₹2.6 Cr
(b) Manufacturing and sale of Solar Power Systems22.0%result ₹2.8 Cr
(d) Un-allocable Income11.3%result ₹0.2 Cr
(c) EV1.1%result ₹−0.6 Cr
Segment revenue as reported, before inter-segment eliminations.