Solarworld Energy Solutions has reported a robust financial performance for the third quarter, with consolidated net profit increasing to 492 million rupees from 427 million rupees in the same period last year. The company achieved a year-on-year growth of 15.2% in its bottom line, reflecting strong operational performance.

Financial Performance Overview

The renewable energy company's quarterly results demonstrate consistent growth trajectory in profitability. The consolidated net profit figures highlight the company's ability to maintain upward momentum in its financial performance.

Business Performance

The year-on-year improvement in consolidated net profit indicates Solarworld Energy Solutions' strengthening market position in the renewable energy sector. The 65 million rupees increase in net profit demonstrates the company's enhanced operational efficiency and revenue generation capabilities.

The positive financial results reflect the company's continued focus on delivering value to stakeholders while maintaining growth in the competitive solar energy market. This performance positions the company favorably as it continues to expand its presence in the renewable energy landscape.

Solarworld Energy Solutions Limited has initiated legal proceedings against SJVN Green Energy Limited by filing an arbitration petition under Section 9 of the Arbitration and Conciliation Act, 1996 before the Delhi High Court on January 24, 2026. The petition concerns two solar projects totaling 360 MW capacity that the company is executing for SJVN Green Energy Limited.

Project Details and Dispute Background

The dispute centers around a 260 MW project and a 100 MW project being executed by Solarworld for SJVN Green Energy Limited. According to the company's disclosure, the projects have experienced significant delays due to SJVN's inability to timely complete its contractual obligations. The contract had been suspended by SJVN until December 2025, creating operational and financial challenges for Solarworld.

SJVN has now conditionally invoked the Performance Bank Guarantee, subject to its extension by Solarworld. Rather than extending the performance bank guarantees further, the company has sought relief from the Delhi High Court and requested the release of retention amounts and other dues.

Financial Implications and Claims

The arbitration petition involves substantial financial amounts across both projects:

The total financial exposure amounts to ₹92.38 crore, with bank guarantees worth ₹13.77 crore and other claims totaling ₹78.61 crore. The company has indicated that there are no quantum of claims against it in this matter.

Legal Proceedings

The petition has been filed before the High Court of Delhi at New Delhi, with SJVN Green Energy Limited and HDFC Bank Limited named as opposing parties. The legal action represents Solarworld's effort to protect its financial interests and seek resolution for the delayed project execution.

Regulatory Compliance

Solarworld Energy Solutions has disclosed this development in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided detailed information as required under SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, ensuring transparency for investors and stakeholders regarding this significant legal development.