Onix Solar Energy has delivered a strong financial performance in its third quarter results, showcasing significant growth in profitability. The solar energy company reported impressive year-on-year improvements that reflect its operational strength and market execution capabilities.

Financial Performance Highlights

The company's third quarter results demonstrate substantial profit growth, with net profit figures showing remarkable improvement over the previous year period.

Strong Profitability Growth

The company achieved net profit of ₹144.00 million in the third quarter, marking a significant increase from ₹63.00 million reported in the corresponding quarter of the previous year. This represents a substantial year-on-year growth of 128.57%, indicating strong operational performance and effective business execution.

The robust profit growth demonstrates the company's ability to capitalize on market opportunities in the solar energy sector. This performance reflects improved operational efficiency and successful implementation of business strategies during the quarter.

Market Position

The strong financial results position Onix Solar Energy favorably within the renewable energy sector. The significant profit improvement indicates the company's operational capabilities and its ability to generate substantial returns for stakeholders. This performance showcases the company's commitment to delivering consistent financial growth and operational excellence in the competitive solar energy market.

Onix Solar Energy Limited announced the outcomes of its Board of Directors meeting held on January 16, 2026, revealing significant corporate governance and capital structure decisions that will reshape the company's operational framework.

Major Capital Structure Enhancement

The board approved a substantial increase in the company's authorized share capital, representing a strategic move to strengthen its financial foundation. The following table outlines the key capital structure changes:

This capital increase will require subsequent amendments to the capital clause of the company's Memorandum of Association, pending shareholder approval through the postal ballot process.

Board Composition and Leadership Changes

The board approved comprehensive leadership restructuring through director appointments and regularizations. The postal ballot will seek shareholder approval for multiple director-related matters:

The regularization of additional directors demonstrates the company's commitment to formalizing its governance structure while ensuring compliance with regulatory requirements.

Postal Ballot Process and Governance

The board has initiated a comprehensive postal ballot process to secure shareholder approval for the proposed changes. M/s. H Togadiya & Associates, Practicing Company Secretary, has been appointed as the scrutinizer to conduct the postal ballot through remote e-voting process, ensuring fair and transparent shareholder participation.

The postal ballot will cover four critical corporate matters:

• Authorized share capital increase
• Regularization of two additional directors as non-executive directors
• Appointment of new managing director
• Related amendments to constitutional documents

Meeting Details and Timeline

The Board of Directors meeting was conducted efficiently, commencing at 4:00 PM and concluding at 4:30 PM on January 16, 2026. The company has communicated these decisions to BSE Limited under Regulation 30, ensuring timely disclosure to stakeholders and maintaining regulatory compliance throughout the process.