Onix Solar Energy Limited approved borrowing powers up to ₹1,000 crore during its 46th Annual General Meeting held on September 30, 2026. The company also sought shareholder approval for loans, guarantees, and investments of the same magnitude under the Companies Act, 2013.

The meeting, conducted via video conferencing in compliance with SEBI listing regulations, saw the adoption of audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026. Shareholders also ratified the appointment of M/s. A H Mandaliya & Associates as statutory auditors and re-appointed director Naman Madhavjibhai Viradiya.

Key resolutions passed

The board proposed six resolutions, three of which required special majority approval. The significant financial authorizations include:

Governance and attendance

Hardik Kantilal Adhiya chaired the meeting, which commenced at 2:00 pm and concluded at 2:19 pm. A total of 37 shareholders participated through the InstaMeet platform. Remote e-voting was facilitated via the InstaVote platform from September 26 to September 29, 2026.

The board included Managing Director Piyush Mansukhbhai Savaliya, Directors Naman Madhavjibhai Viradiya and Hardik Kantilal Adhiya, and Independent Directors Umeshkumar Singh and Yesha Aagam Shah. Hitesh Kantilal Bhansali attended as an additional independent director pending regularization.

Financial and audit updates

The statutory auditors and secretarial auditors did not raise any qualifications, reservations, or adverse remarks in their reports for the period. The company noted that the notice of the AGM along with the Annual Report 2025-26 had been circulated to all members prior to the meeting.

The scrutinizer’s report and consolidated voting results are scheduled to be disseminated to the stock exchanges and placed on the company’s website.

Abhishek Ashvinbhai Kamdar has disposed of a 3.59% stake in Onix Solar Energy , reducing his total holding to 4.08%.

The disposal involved the sale of 13,24,981 equity shares between August 21, 2026 and September 4, 2026. The transactions were executed through both open market and off-market routes.

Shareholding Changes

Kamdar, who is not part of the promoter group, held 28,27,868 shares (7.67%) prior to the transaction. This included shares held directly and through his Hindu Undivided Family (HUF).

Following the sale, his direct holding stands at 15,02,887 shares. The HUF entity, Abhishek Ashvinbhai Kamdar HUF, now holds zero shares after disposing its entire stake of 17,686 units.

Regulatory Disclosure

The disclosure was made under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing was submitted to the Bombay Stock Exchange on September 8, 2026.

Onix Solar Energy’s total equity share capital remains unchanged at ₹36.87 crore, divided into 3,68,67,926 equity shares of ₹10 each.