Solarworld Energy Solutions Limited has closed its trading window for all designated persons and their immediate relatives starting October 1, 2026. The restriction remains in effect until 48 hours after the declaration of the company's unaudited financial results for the quarter ended September 30, 2026.

This action is taken pursuant to the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, and the company's internal code of conduct. The closure prevents any dealing in the company's securities during this sensitive period to ensure compliance with insider trading norms.

The Board of Directors will consider and approve the standalone and consolidated unaudited financial results for Q2FY27 in a separate meeting. The specific date of this board meeting will be intimated to the stock exchanges in due course. Investors are advised to monitor official announcements for the exact date of the results declaration.

Solarworld Energy Solutions subsidiary ZNShine Solarworld Private Limited won its appeal against a ₹1,22,12,498 GST penalty on September 23, 2026. The Joint Commissioner (Appeals) in Uttarakhand set aside the earlier order, annulling the penalty imposed by state tax authorities.

The appellate authority ruled that the non-compliance with E-Way Bill procedures was a documentary lapse and did not establish tax evasion. Consequently, the goods were held to be genuine imported goods covered by valid Customs documents.

Appellate Order Details

The appeal, filed under Section 107 of the CGST Act, challenged Order No. ZD0509260176084 passed by the Assistant Commissioner, State Tax, Mobile Squad, Roorkee. The original penalty was levied under Section 129(3) of the CGST/UKGST Act, 2017, following the interception of a consignment vehicle on September 16, 2026.

The Joint Commissioner (Appeals) directed that:

• The impugned order dated September 20, 2026, is set aside.
• The penalty of ₹1,22,12,498 (being 200% of IGST of ₹61,06,249) is annulled.
• Any amount deposited by the subsidiary, including the pre-deposit of ₹12,21,250 paid on September 21, 2026, shall be refunded or adjusted in accordance with law.
• Detained vehicles and goods, if any remain, are to be released forthwith.

Regulatory Timeline and Financial Impact

The dispute originated from a show cause notice issued on September 17, 2026, alleging vehicle mismatches and dispatch location discrepancies in E-Way Bill procedures. The subsidiary maintained throughout that the amount was disputed and not an admitted liability.

Solarworld Energy Solutions stated that there is no adverse impact on the financial position of the company consequent to the appellate order. The matter remains subject to any further appeal the Department may prefer under applicable laws.