Jet Solar Limited has informed the stock exchange of the resignation of Mr. Krunal Shah (ACS 20161) from the position of Company Secretary and Compliance Officer of the company. The resignation is effective from the close of business hours on May 15, 2026, and was submitted citing personal and professional reasons. The disclosure was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with the relevant SEBI circulars.

Resignation Details

The company filed the requisite disclosure pursuant to Regulation 30 and Part A of Para A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The key details of the cessation are presented below:

Regulatory Compliance

The intimation was submitted to BSE Limited by Rajul Shah, Managing Director (DIN: 00227223), on behalf of Jet Solar Limited. The disclosure references SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023 (Master Circular) and SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. The resignation letter submitted by Mr. Krunal Shah confirms that there are no material reasons for his resignation other than those stated, and he has requested the Board to accept the resignation and file the necessary forms with the Registrar of Companies, stock exchanges, and other regulatory authorities as applicable.

Jet Solar Limited, formerly known as Jet Infraventure Limited, is headquartered in Mumbai.

Jet Solar Limited , formerly known as Jet Infraventure Limited, held its Board of Directors meeting on Friday, May 8, 2026, wherein the board considered and approved the audited financial results for the half year and financial year ended March 31, 2026. The meeting, held at the company's registered office in Kandivali (W), Mumbai, commenced at 12:00 Noon and concluded at 12:30 P.M. The filing was submitted to BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and was digitally signed by Company Secretary and Compliance Officer Krunal Shah.

Financial Performance Overview

For the full financial year ended March 31, 2026, Jet Solar Limited reported a net profit of ₹3.52 lakhs, compared to ₹4.04 lakhs in the previous year. Total income for the year stood at ₹208.86 lakhs, up from ₹130.50 lakhs in the prior year. Revenue from operations for the year was ₹54.50 lakhs, marginally higher than ₹54.41 lakhs recorded previously. Other income rose significantly to ₹154.36 lakhs from ₹76.09 lakhs. The statutory auditor, Mittal & Associates (Firm Registration No. 106456W), issued an audit report with an unmodified opinion on the financial results.

The following table summarizes the key financial metrics for the periods under review (₹ in Lakhs):

Balance Sheet Highlights

As at March 31, 2026, the company's total assets stood at ₹2,216.38 lakhs, compared to ₹2,266.40 lakhs as at March 31, 2025. Shareholders' funds increased to ₹2,077.28 lakhs from ₹1,786.48 lakhs, driven by a rise in share capital to ₹1,187.60 lakhs and reserves and surplus of ₹889.68 lakhs. Current liabilities declined significantly to ₹139.10 lakhs from ₹479.92 lakhs, reflecting a reduction in other current liabilities. The paid-up equity share capital carries a face value of ₹10 per share.

Cash Flow Summary

For the year ended March 31, 2026, net cash used in operating activities was ₹(416.92) lakhs, compared to ₹(246.14) lakhs in the previous year. Net cash from investing activities was ₹161.35 lakhs, primarily driven by proceeds from the sale of property, plant and equipment of ₹102.66 lakhs and interest received of ₹58.69 lakhs. Net cash from financing activities was ₹287.28 lakhs, supported by proceeds from capital of ₹182.40 lakhs and share premium of ₹200.64 lakhs. Cash and cash equivalents at the end of the year stood at ₹36.50 lakhs, up from ₹4.79 lakhs at the beginning of the year.

Re-appointment of Independent Director

The board also approved the re-appointment of Mr. Dipesh Maru (DIN: 09338263) as Non-Executive Independent Director for a second term of five consecutive years, from October 1, 2026, to September 30, 2031, subject to approval by members of the company through a Special Resolution. The re-appointment was based on the recommendation of the Nomination and Remuneration Committee. Mr. Maru has confirmed his compliance with the independence criteria under Section 149 of the Companies Act, 2013, and Regulation 16 of the Listing Regulations. He has over 25 years of experience in the garment industry, with expertise in export, finance, strategic planning, and international business relations, and holds a graduate degree from Mumbai University.

Trading Window and Regulatory Compliance

In accordance with SEBI (Prohibition of Insider Trading) Regulations, 2015, the trading window had been closed since April 1, 2026, and will remain closed until 48 hours after the declaration of the audited financial results. The financial results were reviewed by the Audit Committee and subsequently approved by the Board of Directors at their respective meetings held on May 8, 2026. The results have been prepared following the same accounting policies as those applied for the annual financial statements for the year ended March 31, 2025. The company has noted that there are no investor complaints received or pending as on March 31, 2026.