Gujarat Inject Kerala Limited has scheduled a Board of Directors meeting for Monday, October 26, 2026, to consider a proposal for the issuance of equity shares and equity warrants via preferential allotment.

The company, formerly known as Ecofinity Atomix Limited and Aryavan Enterprise Limited, filed this intimation with BSE Limited on October 22, 2026. The move is intended to raise capital in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 and the Companies Act, 2013.

Regulatory framework and approvals

The proposed preferential allotment is subject to obtaining necessary regulatory and statutory approvals. The issuance will be executed under Regulation 29(1)(d) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board meeting agenda specifically includes the consideration of this capital raising initiative.

Corporate identity and leadership

The company operates with its registered office in Vadodara, Gujarat. The filing was signed by Murli Shivshankaran Nair, Whole Time Director, on behalf of the Board. The entity has undergone name changes previously, operating as Ecofinity Atomix Limited before adopting its current designation.

Gujarat Inject (Kerala) Limited has secured a domestic purchase order valued at approximately ₹4.86 crore for the supply of 3,600 Solar PV Modules from Zentaraa Infra Projects Private Limited, scheduled for execution in October 2026.

This development marks a decisive strategic pivot for the Vadodara-based company, which is transitioning from an asset-light trading enterprise into the renewable power landscape. The order follows the signing of an Investment Sale Agreement with Soleos Energy Limited on June 27, 2025, to develop solar power projects.

Strategic expansion into renewable energy

To formalize this transition, shareholders approved an amendment to the Company's Object Clause on September 30, 2025. The updated charter allows Gujarat Inject to engage in the generation, transmission, trading, and supply of electricity from renewable and conventional sources. It also permits ventures into Battery Energy Storage Systems (BESS) and electric vehicle charging infrastructure.

The Company recognized ₹2,076.45 lakh as Capital Work in Progress (CWIP) toward its Solar Power Generation Project. This represents the first CWIP addition in two years, signaling a shift toward capital-intensive infrastructure assets.

Financial performance in FY26

While the solar project remains under development, the Company's core trading operations drove significant financial growth during FY26. Total revenue nearly doubled compared to the previous fiscal year, while Profit After Tax (PAT) also saw substantial expansion.

The Company maintained its agile trading model, recording purchases of stock-in-trade worth ₹3,362.37 lakh. It operates without holding finished goods inventory, focusing on high-turnover trading activities.

What the numbers show

A divergence exists between reported profitability and asset base growth. While PAT rose 78.3% YoY, this was driven entirely by trading operations, as no operational revenue was recognized from the solar generation project in FY26. The independent statutory auditors highlighted the CWIP capitalization and its eventual transition to Property, Plant, and Equipment (PPE) as a Key Audit Matter (KAM), reflecting the materiality of the new renewable energy investments relative to the current trading-focused balance sheet.

Governance and operational notes

Gujarat Inject continues to prioritize governance and project execution as it repositions itself for the green energy transition. Management stated that the Object Clause amendment provides greater flexibility to explore new business opportunities. The Company confirmed that operational cash flows and revenue entitlements from the solar project will accrue only upon the discharge of consideration payable to the seller.