Indosolar Limited has issued a comprehensive postal ballot notice to its shareholders, seeking approval for significant corporate governance changes and strategic relocations. The notice, dated January 16, 2026, outlines two critical resolutions that require member approval through the electronic voting process.

Key Resolutions Under Consideration

The postal ballot encompasses two distinct resolutions that will shape the company's future governance structure and operational framework.

E-Voting Schedule and Process

The company has established a comprehensive electronic voting framework to facilitate shareholder participation in the decision-making process.

The Board of Directors appointed Puneet Motwani & Associates, a practicing company secretary firm from Mumbai, as the scrutinizer for conducting the e-voting process. MUFG Intime India Private Limited, formerly Link Intime India Private Limited, will provide the remote e-voting facility to shareholders.

Director Appointment Details

Dr. Jignesh Devchandbhai Rathod brings substantial expertise to the board, with over 18 years of experience in the solar manufacturing and renewable energy sector. Currently serving as Director – Operations at Waaree Energies Limited and designated as the future Chief Executive Officer, Dr. Rathod holds comprehensive qualifications including a Bachelor of Engineering from Gujarat University, an MBA for Working Executives from NMIMS Mumbai, and a Doctorate in Business Administration from Xavier Institute of Business Management Studies.

Registered Office Relocation Rationale

The proposed shifting of the registered office from Delhi to Maharashtra stems from strategic considerations following the Corporate Insolvency Resolution Process. Waaree Energies Limited, which holds 74.93% of Indosolar's equity share capital after the approved resolution plan implementation in April 2022, has its registered office in Mumbai, Maharashtra.

The relocation aims to achieve several operational benefits:

• Enhanced coordination between the holding company and subsidiary operations
• More efficient utilization of managerial time and resources
• Streamlined business conduct and cost optimization
• Seamless management coordination between both entities

Compliance and Regulatory Framework

The postal ballot process adheres to multiple regulatory requirements, including provisions under Sections 108 and 110 of the Companies Act, 2013, Companies (Management and Administration) Rules, 2014, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has ensured compliance with various MCA circulars, including circular no. 09/2024 dated September 19, 2024, and related notifications.

Shareholders can access the postal ballot notice through multiple channels, including the company website at www.indosolar.co.in , BSE website at www.bseindia.com , NSE website at www.nseindia.com , and the registrar's portal at https://instavote.linkintime.co.in . The notice provides comprehensive instructions for various categories of shareholders, including those holding securities in demat mode with NSDL or CDSL, and those maintaining physical share certificates.

The proposed resolutions, if approved, will be deemed passed on February 20, 2026, with results announced within the prescribed timeline and made available across all designated platforms for shareholder access.

Indosolar Limited has delivered exceptional financial performance in Q3FY26, with significant improvements in profitability metrics alongside strong revenue growth. The company's EBITDA performance demonstrates enhanced operational efficiency and margin expansion capabilities.

EBITDA Performance and Margin Analysis

Indosolar's Q3FY26 EBITDA reached ₹71.00 crores compared to ₹23.50 crores in Q3FY25, representing a substantial 202.13% year-on-year growth. The EBITDA margin expanded significantly to 35.59% from 22.77% in the corresponding quarter of the previous year, indicating improved operational efficiency and cost management.

Comprehensive Financial Performance

The company's Q3FY26 results showcase robust growth across key financial metrics for the quarter ended December 31, 2025. Revenue from operations reached ₹199.53 crores, marking a substantial 92.70% increase from ₹103.01 crores in Q3FY25. Net profit demonstrated impressive growth, surging 305.18% to ₹41.47 crores from ₹10.24 crores in the previous year quarter.

Nine-Month Performance Analysis

For the nine months ended December 31, 2025, Indosolar reported total revenue of ₹596.75 crores compared to ₹130.57 crores in the corresponding period of FY25. Net profit for the nine-month period reached ₹204.60 crores against ₹14.74 crores in the previous year, representing substantial year-on-year improvement.

Leadership Transition and Corporate Restructuring

The Board of Directors approved significant leadership changes during their meeting held on January 16, 2026. Dr. Jignesh Devchandbhai Rathod has been appointed as Additional Director (Non-Executive) and Chief Executive Officer, effective from January 16, 2026, subject to shareholder approval. Mr. Amit Ashok Paithankar resigned from his positions as Non-Executive Director and Chief Executive Officer, citing other commitments and personal reasons.

The company has also approved a proposal to shift its registered office from Delhi to Maharashtra, requiring shareholder and statutory authority approvals. These results reflect the enhanced operational capacity following the commencement of commercial operations at the Greater Noida facility in July 2024.