Citizen Infoline Limited has announced its unaudited financial results for the year ended September 30, 2025, revealing a loss before tax of Rs 0.61 lakhs. The company's Board of Directors approved these results at their meeting held on November 12, 2025.

Financial Performance

The company reported total income of Rs 1.34 lakhs and total expenses of Rs 1.95 lakhs for the period. Despite the loss, Citizen Infoline's financial position shows some positive indicators:

The significant increase in cash and cash equivalents from Rs 2.58 lakhs to Rs 177.54 lakhs indicates improved liquidity for the company.

Amalgamation Scheme

In a significant development, the Board of Directors has approved a scheme of amalgamation with Citizen Solar Private Limited. This strategic move is subject to approval by the National Company Law Tribunal and other relevant authorities. The scheme, if approved, will take effect from April 1, 2023.

Audit Opinion

The statutory auditors, M/s. Krutesh Patel & Associates, Chartered Accountants, have issued an unmodified opinion on the financial results for the year ended September 30, 2025. This indicates that the auditors found no significant issues or discrepancies in the company's financial reporting.

Regulatory Compliance

The financial results have been prepared in accordance with the Indian Accounting Standards (Ind-AS) as prescribed under Section 133 of the Companies Act 2013, read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015. The company has adhered to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Investors and stakeholders should note that these are unaudited results and may be subject to changes upon completion of the audit process. The proposed amalgamation, if approved, could significantly impact the company's future financial structure and operations.

Citizen Infoline has successfully concluded a crucial step in its proposed merger with Citizen Solar Private Limited. The company held a National Company Law Tribunal (NCLT)-convened meeting of equity shareholders on September 3, to consider and approve the Scheme of Amalgamation between the two entities.

Meeting Details

The extraordinary general meeting (EGM) was conducted through video conferencing at 12:00 PM IST, in compliance with the Companies Act, 2013, SEBI regulations, and applicable circulars issued by the Ministry of Corporate Affairs and SEBI. The meeting was held pursuant to an order dated July 21, passed by the NCLT, Ahmedabad Bench.

Voting Process and Outcome

Shareholders were provided with remote e-voting facilities from August 31 (11:00 AM IST) to September 02 (5:00 PM IST), as well as e-voting during the EGM. Mr. Aakash Modh, an advocate appointed by the NCLT, served as the scrutinizer to oversee the voting process.

According to the Consolidated Scrutinizer's Report dated September 4, the resolution for the Scheme of Amalgamation was passed with the requisite majority. This marks a significant milestone in the proposed merger between Citizen Infoline and Citizen Solar Private Limited.

Key Attendees

The meeting was chaired by Mr. Dipak Rachchha, with several key personnel in attendance:

• Mr. Omprakash Lalchand Jain (Managing Director)
• Mr. Ravindra Omprakash Jain (Director & CFO)
• Mr. Chirag Hemendrakumar Jirawala (Independent Director)
• Ms. Ashadevi Nathmal Gogad (Independent Director)
• Ms. Reena Harsh Shah (Company Secretary & Compliance Officer)

Next Steps

The company will submit the voting results and the Scrutinizer's Report in accordance with Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. These results will be made available on the company's website, as well as on the websites of the stock exchanges and the e-voting agency.

The approval of this Scheme of Amalgamation by the shareholders is a crucial step forward in the merger process between Citizen Infoline and Citizen Solar Private Limited. However, the completion of the merger will likely be subject to further regulatory approvals and legal procedures.

Investors and stakeholders are advised to keep an eye on further announcements from the company regarding the progress of this amalgamation.