Jet Solar Limited Reports Half-Year Results and Completes Warrant Conversion
Jet Solar Limited announced unaudited financial results for the half-year ended September 30, 2025. Revenue from operations decreased by 48.5% to ₹34.50 lakhs, while net profit fell by 90.6% to ₹1.93 lakhs compared to the same period last year. The company completed a warrant conversion, raising ₹287.28 lakhs through a preferential allotment of 18,24,000 equity shares at ₹21.00 per share. Despite the decline in operational performance, other income increased by 220.5% to ₹31.95 lakhs.
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Jet Solar Limited has announced its unaudited financial results for the half-year ended September 30, 2025, along with the completion of a significant warrant conversion. The company, which primarily focuses on real estate development and construction, held its board meeting on November 13, 2025, to review and approve the financial statements.
Financial Performance
For the half-year ended September 30, 2025, Jet Solar Limited reported the following key financial metrics:
| Particulars | Half-Year Ended Sept 30, 2025 (in lakhs) | Half-Year Ended Sept 30, 2024 (in lakhs) | Year-on-Year Change |
|---|---|---|---|
| Revenue from Operations | 34.50 | 66.96 | -48.5% |
| Other Income | 31.95 | 9.97 | +220.5% |
| Total Income | 66.45 | 76.93 | -13.6% |
| Profit Before Tax | 2.59 | 27.68 | -90.6% |
| Net Profit | 1.93 | 20.48 | -90.6% |
The company experienced a significant decrease in revenue from operations and profitability compared to the same period last year. However, there was a substantial increase in other income, which partially offset the decline in operational revenue.
Warrant Conversion and Fund Utilization
Jet Solar Limited successfully converted 18,24,000 convertible warrants into equity shares at Rs. 21.00 per share through a preferential allotment. This conversion raised Rs. 287.28 lakhs, which the company reports has been fully utilized. The funds were intended for investment in new business, working capital requirements, and general corporate purposes.
Cash Flow and Liquidity
The cash flow statement reveals:
- Net cash used in operating activities: Rs. -310.59 lakhs
- Net cash generated from investing activities: Rs. 31.89 lakhs
- Net cash generated from financing activities: Rs. 281.42 lakhs
The company's closing balance of cash and cash equivalents stood at Rs. 7.51 lakhs as of September 30, 2025.
Corporate Governance and Compliance
The Audit Committee reviewed the financial results before the Board's approval. The company affirmed that there were no deviations in the utilization of funds raised through the preferential allotment, adhering to the regulations set by SEBI.
Market Implications
While Jet Solar Limited has successfully raised capital through warrant conversion, the significant decline in operational revenue and profitability may raise concerns among investors. The company's ability to effectively utilize the raised funds for growth and improve its operational performance will be crucial in the coming quarters.
Investors and market analysts will likely keep a close watch on how Jet Solar Limited navigates the challenges in the real estate and construction sector, and whether the recent capital infusion translates into improved business performance in the near future.
Historical Stock Returns for Jet Solar
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.82% | +4.82% | +30.55% | -25.94% | -47.01% | -45.15% |
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