Onix solar energy Limited has scheduled a Rights Issue Committee meeting for February 12, 2026, to finalize key terms and conditions of its proposed rights issue worth up to ₹250 crore. The meeting notification was issued on February 09, 2026, in compliance with Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Rights Issue Background

The company's Board of Directors had previously approved the rights issue during their meeting held on December 29, 2025. The rights issue involves equity shares with a face value of ₹10 each, with the total issue size capped at ₹250 crore. The proposal was approved in accordance with the Companies Act, 2013, and the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Committee Meeting Agenda

The Rights Issue Committee meeting will address several critical aspects of the rights issue:

The committee will deliberate on specific terms including the determination of the rights issue price and related payment mechanisms. Additionally, the meeting will focus on establishing the rights entitlement ratio, which will determine how many new shares existing shareholders can purchase relative to their current holdings.

Key Decisions Expected

The committee is expected to finalize the record date for determining eligible shareholders and the overall timing of the rights issue. These decisions are crucial for the successful execution of the capital raising exercise. The meeting will also address other related matters necessary for the rights issue implementation.

Regulatory Compliance

The notification has been issued in accordance with Regulation 29 of SEBI's listing regulations, ensuring proper disclosure to stakeholders. The company has communicated the meeting details to BSE Limited, where Onix Solar Energy Limited is listed under scrip code 513119 with the scrip ID ONIXSOLAR.

Managing Director Piyush Savaliya (DIN: 06464445) signed the official communication, emphasizing the company's commitment to regulatory compliance and transparent communication with investors and regulatory authorities.

Onix Solar Energy has reported a significant decline in its third-quarter financial performance, with revenue dropping substantially compared to the same period in the previous year. The solar energy company's latest quarterly results reflect challenging market conditions and operational headwinds.

Financial Performance Overview

The company's Q3 revenue performance shows a marked deterioration from the previous year's corresponding quarter. The following table summarizes the key revenue metrics:

Revenue Analysis

The company recorded revenue of ₹161.00 million in the third quarter, representing a steep decline from ₹573.00 million achieved in the same quarter of the previous year. This translates to an absolute revenue reduction of ₹412.00 million, indicating substantial operational challenges during the reporting period.

The 72% year-over-year revenue decline represents one of the most significant contractions in the company's recent financial history. The sharp reduction in quarterly revenue highlights the impact of various market and operational factors on Onix Solar Energy's business performance.

Market Context

The substantial revenue decline reflects the challenges faced by the solar energy sector and the company's specific operational environment. The magnitude of the decrease suggests significant disruptions to the company's revenue-generating activities during the quarter.

This financial performance indicates that Onix Solar Energy encountered considerable difficulties in maintaining its revenue levels compared to the robust performance recorded in the corresponding quarter of the previous year.