Citizen Infoline Limited held its 32nd Annual General Meeting on September 21, 2026. The meeting was conducted via video conferencing to transact routine business.

The company, formerly known as Citizen Infoline Limited, convened the meeting in accordance with the Companies Act, 2013, and SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The quorum was present, allowing the proceedings to move forward.

Key Resolutions Passed

Shareholders approved the adoption of the audited financial statements for the year ended March 31, 2026. This included the balance sheet, statement of profit and loss, cash flow statement, and statement of changes in equity.

The meeting also focused on significant board appointments. Members approved special resolutions for the appointment of new independent and whole-time directors.

Omprakash Lalchand Jain was reappointed as Managing Director. Tansukhraj Lalchand Jain addressed members on the company's progress and long-term strategic vision.

Procedural Details

CS Jolly Patel served as the scrutinizer for the e-voting process. The company provided remote e-voting facilities to all eligible members. Voting results will be submitted to stock exchanges within statutory timelines.

The meeting concluded at 12:23 pm with a vote of thanks from the chairman.

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.