Ujaas Energy Limited's Board of Directors concluded their meeting on April 30, 2026, approving crucial financial results and organizational changes for the quarter and year ended March 31, 2026. The meeting, which commenced at 02:30 P.M. and concluded at 06:15 P.M., addressed several significant matters including audited financial results that received a qualified opinion from auditors.

Financial Performance Overview

The company's standalone audited financial results for Q4 FY26 demonstrated mixed performance across key metrics. Revenue from operations reached 564.43 lakhs for the quarter, while other income contributed 127.09 lakhs, bringing total revenue to 691.52 lakhs.

The company's earnings per share stood at 0.03 for the quarter on a basic calculation and 0.01 on a diluted basis. For the full year FY26, basic earnings per share reached 0.24 compared to 0.66 in the previous year.

Audit Qualifications and Concerns

Ashok Khasgiwala & Co. LLP, the company's statutory auditors, issued a qualified opinion highlighting two significant concerns. The primary qualification relates to trade receivables aggregating 2,855.44 lakhs as of March 31, 2026, for which external confirmations have not been received from respective parties.

The second qualification concerns accrued interest income on Fixed Deposits with Axis Bank. The auditors noted a discrepancy of 80.21 lakhs between the company's books and bank confirmations, with accrued interest of 4.31 lakhs for Q4 FY26 and 17.49 lakhs for the full year not being credited by the bank.

Regulatory Compliance and Board Decisions

The Board meeting was conducted under Regulation 30 & 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company submitted comprehensive documentation including audited financial results, auditor's report, and impact statements on audit qualifications to both NSE and BSE.

Segment-wise Performance Analysis

The company's business segments showed varied performance during Q4 FY26. Solar Power Plant Operation emerged as the primary revenue generator, contributing 605.40 lakhs to net segment revenue for the quarter.

Corporate Governance and Organizational Changes

The Board approved several important organizational decisions during the meeting. MMM & Co. (formerly S.K. Malani & Co.), Chartered Accountants, Indore, was appointed as the Internal Auditor for Financial Year 2026-27. Additionally, the Board reconstituted the Management Committee with a revised policy framework.

The company's borrowing details for FY26 showed no outstanding qualified borrowings at both the start and end of the financial year, with no incremental borrowing or debt securities issuance during the period.

Balance Sheet Position

As of March 31, 2026, the company maintained total assets of 11,710.48 lakhs compared to 11,271.52 lakhs in the previous year. The equity base strengthened with paid-up equity share capital of 1,333.98 lakhs and other equity of 7,532.56 lakhs, resulting in total equity of 8,866.54 lakhs.

The financial results reflect the company's ongoing operations in the renewable energy sector, with particular focus on solar power generation and manufacturing activities, while addressing the audit qualifications that require management attention.

Ujaas Energy Limited has announced the appointment of M/s. MMM & Co. (formerly known as S.K. Malani & Co.), Chartered Accountants, as Internal Auditors for the financial year 2026-27. The Board of Directors approved this appointment on April 30, 2026, following a recommendation from the Audit Committee.

Regulatory Disclosure and Compliance

The company made this disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 to both BSE Limited and National Stock Exchange of India Limited. The official communication was signed by Sarvesh Diwan, Company Secretary & Compliance Officer, and filed on April 30, 2026.

Appointment Details

About the Appointed Firm

According to the regulatory filing, M/s. MMM & Co. (formerly known as S.K. Malani & Co.), Chartered Accountants, is a practicing chartered accountant firm based in Indore. The firm specializes in audit, taxation, business modeling, and other commercial and accounting aspects of business operations.

Corporate Governance Enhancement

This appointment represents part of Ujaas Energy Limited's ongoing commitment to maintaining robust internal audit functions and corporate governance standards. The selection of experienced chartered accountants ensures professional oversight of the company's internal processes and compliance requirements for the upcoming financial year.