Sahaj Solar Limited has released its audited financial results for the year ended March 31, 2026, following a Board meeting on May 16, 2026. The company reported a 27% year-on-year growth in revenue from operations, which increased to ₹419.2 crore in FY26 from ₹329.8 crore in FY25. Profit after tax (PAT) for the year stood at ₹29.6 crore, compared to ₹27.5 crore in the previous year. The Board approved the audited standalone and consolidated financial results, which were reviewed by the Audit Committee.

Financial Performance

The financial results for FY26 and the second half (H2) of the fiscal year are summarised below:

Management highlighted that the revenue has grown at a 58% CAGR during FY22 to FY26. The EBITDA margin remained stable around 13%, while the debt-equity ratio stood at 1.27x following a loan from IREDA in the last quarter of the financial year. The company repaid its working capital loan of ₹100 crore in April 2026.

Strategic Outlook

Sahaj Solar outlined its strategic growth drivers, including an order book of ₹402 crore. The company provided future guidance targeting a three-year compound annual growth rate (CAGR) of over 30% for revenue and EBITDA margins of above 12% within three years. Key growth areas include end-to-end EPC capabilities, fully integrated solar water pumping solutions, and strategic partnerships such as the collaboration with IDMC for solarizing Bulk Milk Coolers (BMCs).

The company is executing a 4.8 megawatt DREBP project in Gujarat and has qualified for UPNEDA's 500 megawatt rooftop RESCO tender. Internationally, Sahaj Solar is expanding its presence in Zambia and Uganda, with a signed agreement in Zambia estimated at ₹55 crores. The Board also appointed M/s. B. N. Kamothi & Co., Chartered Accountants, as the internal auditor for FY27 and approved an investment of up to AED 2,00,000 in its wholly owned subsidiary, Sahaj Renewable Energy Trading – FZCO.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE0P4701011/447cc4bd161c4c3c.pdf

Sahaj Solar has announced that its wholly-owned subsidiary, Sahaj Renewable Energy Trading – FZCO, has executed a Shareholders' Agreement with Clarion Investment LLC. The agreement, signed on May 18, 2026, establishes a Joint Venture Company named Sahaj Energy Solar Panels Manufacturing LLC. The primary objective of this joint venture is to develop and establish a solar panel manufacturing facility in the United Arab Emirates with a capacity of 750 MW.

Joint Venture Structure and Governance

The newly formed Joint Venture Company will see equal ownership between the two partners. Both Sahaj Renewable Energy Trading – FZCO and Clarion Investment LLC will hold 50% of the shares respectively. Neither party holds any shares in the other prior to this agreement. Clarion Investment LLC is not related to the promoter or promoter group of Sahaj Solar Limited.

Governance of the Joint Venture Company will be balanced, with each partner holding the right to appoint one Director to the Board. The Board will be responsible for overseeing, supervising, and strategizing the operations and affairs of the company.

Key Transaction Details

The significant terms and details of the agreement are summarized below: