Ujaas Energy Limited (NSE: UEL, BSE: 533644) has released its unaudited financial results for the quarter and half-year ended September 30, 2025, revealing a mixed performance with revenue growth but a shift to loss in the quarterly figures.

Financial Performance

The company reported the following key financial metrics for Q2 FY2026:

For the half-year period:

Despite a modest increase in revenue, Ujaas Energy faced a significant downturn in its quarterly performance, swinging from a profit to a loss compared to the same quarter last year. The half-yearly profit, while positive, showed a decline from the previous year.

Operational Segments

Ujaas Energy operates in two primary segments:

1. Solar power plant operations
2. Manufacturing and sale of solar power systems

Corporate Actions

The Board of Directors has approved two significant corporate actions:

Preferential Issue

The company will issue 1,275.70 lakh equity shares at ₹11 per share.

Bonus Shares

A bonus share allotment of 222.65 lakh shares to public shareholders in a 2:1 ratio.

These actions are aimed at strengthening the company's capital structure and rewarding shareholders.

Auditor's Observations

The company's auditors, Ashok Khasgiwala & Co. LLP, have issued a qualified opinion in their limited review report. Key points include:

Interest Income Discrepancy

Accrued interest income of ₹6.79 lakhs on fixed deposits with Axis Bank for Q2 FY2026 has not been credited by the bank, leading to a difference between the company's books and bank confirmation.

Emphasis of Matter

The auditors noted a discrepancy related to borrowings settled under a resolution plan approved by NCLT. While the company has recorded the settlement in its books, Axis Bank has not reflected this, resulting in an outstanding balance of ₹735.93 lakhs.

Looking Ahead

While Ujaas Energy faces challenges in its quarterly performance, the approved corporate actions suggest the company is taking steps to strengthen its financial position. The management's ability to address the auditor's concerns and improve operational efficiency will be crucial in the coming quarters. The solar energy market continues to present opportunities, and Ujaas Energy's dual focus on power plant operations and solar system manufacturing positions it to potentially capitalize on sector growth.

Swastika Fin-mart Private Limited has seen a significant increase in its shareholding in Ujaas Energy Limited, with its stake rising from 9.45% to 23.61%. This substantial change comes as a result of a recent bonus share issue by Ujaas Energy.

Key Details of the Shareholding Change

Nature of the Transaction

Sunil Nyati, a director at Swastika Fin-mart, disclosed that this increase in shareholding was passive in nature. The company did not make any acquisition for consideration; instead, the change occurred solely due to the bonus share issue by Ujaas Energy.

Shareholder Classification and Regulatory Compliance

Swastika Fin-mart is classified as a non-promoter shareholder of Ujaas Energy Limited. This disclosure was made in compliance with the Securities and Exchange Board of India (SEBI) regulations concerning substantial acquisition of shares and takeovers.

Impact of the Bonus Issue

The bonus issue has resulted in a significant shift in Swastika Fin-mart's ownership stake in Ujaas Energy, more than doubling their previous holding. Such changes in shareholding patterns can be of interest to other investors and market watchers, as they may influence the company's ownership structure.

Investors and stakeholders of Ujaas Energy Limited may want to take note of this development. However, as this change resulted from a bonus issue rather than market transactions, its immediate impact on the company's operations is likely to be minimal.