Solarium Green Energy has secured a significant order worth approximately ₹186.525 crore for the execution of End-to-End Engineering, Procurement and Construction (EPC) works for a 50 MW AC/65 MW DC Solar PV Power Project in Maharashtra. The Letter of Award (LOA), dated June 22, 2026, was received as a sub-contractor for a project awarded under Maharashtra State Power Generation Company Limited (MAHAGENCO). This contract is expected to strengthen the company's presence in the renewable energy sector and contribute to its revenues over the project execution period.

Order Details

The scope of work encompasses the turnkey execution of the solar power project, including comprehensive Operation and Maintenance (O&M) services for a period of three years (36 months). The total order value is ₹186.525 crore, exclusive of Goods and Services Tax (GST). The project is classified as a domestic order, and the EPC execution schedule will be specified in the definitive agreement to be executed between the parties.

Key Contractual Information

The company confirmed that neither the promoter group nor group companies hold any interest in the entity awarding the order. Furthermore, the transaction does not fall within related party transactions. The identity of the direct client remains undisclosed due to confidentiality obligations, although the project is associated with MAHAGENCO.

Solarium Green Energy Limited reported a 60% increase in revenue from operations to ₹368 Cr for the financial year ended March 31, 2026, driven by a strategic shift towards large-scale EPC projects. Profit after tax (PAT) for the year stood at ₹20.5 Cr, while EBITDA was recorded at ₹35.3 Cr. The company disclosed these figures in an investor presentation and earnings conference call transcript submitted to the BSE on June 2, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The presentation highlighted that the company secured a 50 MW solar project in Maharashtra with a contract value exceeding ₹185 crore during the year. This transition to larger ground-mounted projects was undertaken to mitigate extended receivable cycles associated with government-distributed projects. However, the change in business mix resulted in a moderation of gross margins to 30% in FY26 from 34.5% in FY25, as large-scale EPC projects generally operate at comparatively lower margins.

Consolidated Financial Highlights

For the second half of FY26 (H2FY26), revenue rose 70% year-on-year to ₹251 Cr, compared to ₹148 Cr in H2FY25. EBITDA for H2FY26 increased 27% to ₹19 Cr, while PAT remained flat at ₹11 Cr. The company noted that the commencement of operations at its module manufacturing facility led to incremental finance costs, which impacted profitability during the year.

Operational Metrics

The company reported an unexecuted order book of ₹300+ Cr and a presence across approximately 15 states and union territories. Its team size has expanded to over 400 employees. Solarium Green Energy operates a 1.2 GW fully automated module manufacturing line in Ahmedabad, producing panels up to 725 Wp, which drives cost efficiency across its value chain.

Ankit Garg, Chairman & Managing Director, stated that the company remains well-positioned regarding regulatory developments surrounding ALMM-II. A significant portion of the order book pertains to module supply for projects bid prior to August 31, 2025. The EPC order book includes approximately 65 MW of confirmed captive module consumption, with a forward pipeline exceeding 300 MW of projects under active discussion.