Citizen Infoline has rebranded as Citizen Solar Limited and reported a sharp rise in profitability for FY26, with net profit after tax reaching ₹2,242.73 lakh. This marks a significant increase from ₹1,163.42 lakh in the previous fiscal year, driven by substantial growth in operational turnover.

The company's total revenue from operations surged by approximately 167.44% year-on-year, reflecting the impact of the recent Scheme of Amalgamation with Solar Citizen Private Limited. The National Company Law Tribunal (NCLT) approved the scheme on March 19, 2026, with an appointed date of April 1, 2023. Consequently, the financial statements for FY25 have been restated to reflect the combined entity from that date.

Financial Performance Overview

The profit before depreciation and taxation stood at ₹3,212.60 lakh for FY26, compared to ₹1,746.61 lakh in FY25. After accounting for depreciation of ₹200.47 lakh and a tax provision of ₹750.00 lakh, the net profit more than doubled. The net profit ratio improved to 7.22% in FY26 from 6.27% in the prior year.

What the Numbers Show

The divergence between the reported turnover growth of 167.44% and the revenue figure increase of roughly 67% highlights the structural shift caused by the amalgamation. The Directors' Report notes that performance figures are reviewed considering the retrospective effect of the merger, meaning the prior year's base was significantly larger than previously reported standalone figures. Despite this higher base, the current year's operational scale expanded rapidly, evidenced by the debt-equity ratio rising to 2.53 from 0.77, indicating increased leverage to fund this growth.

Corporate Governance and Board Changes

The Board of Directors decided not to recommend any dividend for FY26, citing future growth plans and working capital requirements. The company will hold its 32nd Annual General Meeting on September 21, 2026, via video conferencing. Key agenda items include the appointment of new Whole-Time Directors—Harsh Jain, Tansukhraj Jain, and Sagar Jain—and Independent Directors Haresh Parmar and Vikash Agrawal. Additionally, shareholders will ratify the remuneration of the Cost Auditor for FY27.

Citizen Infoline has fixed Monday, September 14, 2026 as the record date for its 32nd Annual General Meeting. The company, now operating as Citizen Solar Limited, will hold the AGM on Monday, September 21, 2026.

The meeting will address matters pertaining to the financial year 2025-26. It will be conducted through Video Conferencing or Other Audio-Visual Means, aligning with provisions under the Companies Act, 2013 and relevant circulars from the Ministry of Corporate Affairs and SEBI.

Key Dates for Shareholders

Shareholders must note the following deadlines to participate in the meeting and claim dividend entitlements:

During the book closure period, the Register of Members and Share Transfer Books will remain closed. This ensures accurate determination of shareholder eligibility for the AGM and any dividends declared. The cut-off date determines eligibility for voting at the AGM through remote e-voting and voting during the meeting.

Regulatory Compliance

The intimation is issued pursuant to Section 91 of the Companies Act, 2013 and Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Notice of the Annual General Meeting along with the Annual Report for FY26 will be dispatched to shareholders in due course.

Abhijit Roy, Company Secretary and Compliance Officer, signed the intimation on August 25, 2026.