Onix Solar Energy reported a consolidated net profit of ₹208.91 crore for the quarter ended June 30, 2026, a substantial increase from ₹71.30 crore in the corresponding quarter of the previous year. Total revenue surged to ₹945.18 crore in Q1FY26, up from ₹103.81 crore in Q1FY25, driven by strong operational performance in the renewable energy sector. On a standalone basis, the company posted a net profit of ₹208 million against ₹10 million in the year-ago period, while standalone revenue from operations reached ₹937 million compared to ₹452 million previously.

The Board of Directors, in its meeting held on July 15, 2026, approved the unaudited standalone and consolidated financial results for the quarter. The results were reviewed by the statutory auditor, A H Mandaliya & Associates, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The audit committee also approved the results during its meeting on July 15, 2026.

Financial Performance

The company reported a profit before tax of ₹279.19 crore on a consolidated basis for Q1FY26, compared to ₹74.51 crore in the year-ago period. Total expenses for the quarter were ₹665.99 crore, lower than the revenue growth, contributing to the improved profitability. Earnings per share (EPS) on a consolidated basic and diluted basis increased to ₹5.67 for the quarter, up from ₹3.60 in Q1FY25. On a standalone basis, EBITDA stood at ₹278 million compared to ₹12 million in the year-ago period, with the EBITDA margin expanding significantly to 29.69% from 2.74%.

Key Financial Metrics (Consolidated, ₹ in Lakhs)

Standalone Key Metrics (YoY)

Board Decisions

Alongside the financial results, the board approved the establishment of a new corporate office effective July 14, 2026, located at P-212 B, Gate No. 2, Lodhika GIDC, Rajkot, Metoda, Gujarat. The board also reconstituted the Audit Committee, Nomination and Remuneration Committee, and Stakeholders' Relationship Committee with immediate effect.

Mr. Hitesh Kantilal Bhansali was appointed as an Independent Director for a term of five consecutive years, commencing July 15, 2026, subject to shareholder approval. The appointment is intended to strengthen the company's governance structure with his expertise in general management and business strategy.

Abhishek Ashvinbhai Kamdar has reduced his shareholding in onix solar energy by 3.42% through an open market transaction conducted on July 6, 2026. The disclosure was submitted to BSE Limited in accordance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This reduction impacts the promoter group structure, as the acquirer was previously identified as part of the promoter group, though the filing clarifies the acquirer does not currently belong to the promoter or promoter group category.

The transaction involved the sale of 12,62,148 equity shares. Prior to the disposal, the acquirer held a total of 63,36,986 shares, representing a 17.18% stake in the company. Following the sale, the total shareholding has decreased to 50,74,838 shares, which constitutes 13.76% of the total paid-up share capital of Onix Solar Energy Limited. The shares were sold via the open market mechanism.

The equity share capital of Onix Solar Energy Limited remains at Rs. 36,86,79,260, divided into 3,68,67,926 equity shares of Rs. 10 each. The diluted share capital also remains unchanged at this figure. The filing confirms that there are no warrants, convertible securities, or other instruments entitling the acquirer to additional voting rights, nor are there any encumbered shares involved in this transaction.

Shareholding Details

The following table outlines the changes in shareholding for Abhishek Ashvinbhai Kamdar and Abhishek Ashvinbhai Kamdar HUF:

The disclosure was signed and submitted by Abhishek Ashvinbhai Kamdar from Surat on July 6, 2026. The company's equity capital structure remains unaffected by the secondary market sale.