Zodiac Energy Limited has announced receipt of a substantial purchase order worth ₹5.44 crores for a ground mounted solar power system project in Gujarat. The company disclosed this development through a regulatory filing under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015 on April 29, 2026.

Project Details and Specifications

The order encompasses supply, installation and commissioning of a captive ground mounted solar PV power plant with 1.87 MWp DC capacity at Rajkot, Gujarat. The project falls under the Gujarat Renewable Power Policy, 2024 and will be executed through the open access model.

Commercial and Contractual Terms

The aggregate value of the order stands at ₹5,44,50,000 (Rupees Five Crore Forty-Four Lakh Fifty Thousand Only), exclusive of GST. The project is scheduled for completion within approximately 6 months from the order date.

The purchase order has been awarded by a domestic entity based in Gujarat. However, the company has chosen not to disclose the client's name citing confidentiality obligations and mutual understanding with the entity.

Regulatory Compliance and Disclosures

As per the regulatory filing, the company confirmed that:

• The order has been awarded by a domestic entity
• No promoter, promoter group or group companies have any interest in the entity that awarded the contract
• The order does not fall within related party transactions
• The project involves supply, installation and commissioning services for the solar power plant

This order represents a significant business development for Zodiac Energy Limited in the renewable energy sector, particularly in the growing Gujarat solar market under the state's renewable power policy framework.

Zodiac Energy Limited has announced a change in the designation of Mr. Dhaval Shah from Non-Executive Independent Director to Non-Executive Non-Independent Director effective April 23, 2026, subject to shareholder approval at the ensuing General Meeting or within a period of three months from the date of appointment, whichever is earlier. The decision was approved by the Board of Directors based on the recommendation of the Nomination and Remuneration Committee.

Board Meeting Details

The Board meeting was held on April 23, 2026, at the company's registered office located at "Zodiac House", 12 Times Corporate Park, Near Baghban Party Plot, Thaltej-Shilaj Road, Thaltej, Ahmedabad, Gujarat. The meeting commenced at 04:15 P.M. and concluded at 05:00 P.M.

Director Profile and Qualifications

Mr. Dhaval Shah is a member of the Institute of Chartered Accountants of India and the CFA Institute, USA. He holds B.Com, LLB, FCA, and CFA (USA) qualifications, demonstrating a strong academic foundation. His academic excellence is evidenced by securing 9th rank in India in CA Final Exam and 49th rank in India in CA PE II Exam.

Professional Experience

With approximately nineteen years of professional experience, Mr. Shah has developed expertise across multiple financial domains including credit and risk management, relationship management, corporate banking, investment banking, stressed asset management, credit rating, accounting, and audit. He has held positions at several prominent organizations including ICICI Bank, Citi Bank, CARE Ratings, Hero Finance, and Reliance Communications, working in Mumbai and Ahmedabad locations at middle and senior management levels.

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure follows SEBI Master Circular No. HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated January 30, 2026, ensuring full regulatory transparency regarding directorial changes.