Zodiac Energy Limited has announced the acquisition of a 98% stake in Shamli Solar Projects LLP, making it a subsidiary of the company with effect from March 11, 2026. The acquisition was disclosed under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Acquisition Details

The company acquired its majority position through direct capital contribution of Rs. 19,600 out of the total capital of Rs. 20,000 of the LLP. Shamli Solar Projects LLP (LLPIN: AAU-8180) was incorporated on November 25, 2020, and is engaged in setting up solar power plants, producing electricity through solar energy, and selling solar power.

Financial and Operational Profile

Shamli Solar Projects LLP currently has nil turnover for the last three financial years (2022-23, 2023-24, and 2024-25). The LLP operates exclusively in India and focuses on solar power generation and sales, aligning with Zodiac Energy's core business objectives.

Strategic Impact

The acquisition represents a strategic expansion of Zodiac Energy's renewable energy portfolio. The transaction is conducted on an arm's length basis and involves promoter group interest, as disclosed in the regulatory filing. The acquisition aligns with the company's main line of business and is expected to contribute to further business expansion.

Regulatory Compliance

The acquisition was completed without requiring additional governmental or regulatory approvals. Zodiac Energy filed the necessary disclosures with BSE Limited (Scrip Code: 543416) and National Stock Exchange of India Limited (Symbol: ZODIAC) in compliance with SEBI regulations and circular requirements.

Zodiac Energy Limited announced its unaudited standalone and consolidated financial results for the quarter ended December 31, 2025, alongside several strategic corporate decisions approved by the Board of Directors on February 09, 2026.

Financial Performance for Q3FY26

The company delivered solid financial performance during the third quarter of FY26. On a standalone basis, Zodiac Energy reported strong operational metrics across key financial parameters.

The consolidated financial results showed total revenue from operations of ₹13,766.62 lakhs for Q3FY26, with profit after tax of ₹507.67 lakhs. The nine-month consolidated revenue reached ₹33,259.83 lakhs with profit after tax of ₹1,038.55 lakhs.

Strategic Investment in Battery Energy Storage

The Board approved a significant strategic investment to acquire an equity stake in Zenwatt Clean Energy Limited, a company specializing in Battery Energy Storage Systems (BESS). The company authorized Managing Director Mr. Kunjbihari Shah to negotiate and finalize the transaction details. Detailed information regarding this investment will be disclosed upon completion of the transaction in compliance with SEBI regulations.

Registered Office Relocation for Operational Enhancement

The Board approved the shifting of the company's registered office within Ahmedabad city limits, effective February 09, 2026. The relocation represents a strategic move to strengthen infrastructure facilities and accommodate the company's growing workforce.

The company stated that the relocation to larger space will make operational requirements more effective and support improved operational efficiency, contributing to long-term growth objectives.

Corporate Governance and Organizational Changes

The Board implemented several important organizational changes during the meeting, including reconstitution of key committees and office relocation.

The reconstituted Audit Committee comprises Mr. Ambar Patel as Chairman (Independent Director), Mr. Kalpesh Joshi as Member (Independent Director), and Mr. Kunjbihari Shah as Member (Managing Director). The Nomination and Remuneration Committee includes Mr. Ambar Patel as Chairman (Independent Director), Mr. Kalpesh Joshi as Member (Independent Director), and Mr. Jaxay Shah as Member (Non-Executive Director).

Segment Performance and Earnings Metrics

The company operates through two primary business segments: Solar Photovoltaic Modules & EPC Contracts, and Generation of Power. For Q3FY26, the Solar Photovoltaic Modules & EPC segment generated revenue of ₹13,312.29 lakhs with segment results of ₹930.82 lakhs. The Generation of Power segment contributed revenue of ₹454.33 lakhs with segment results of ₹19.36 lakhs.

The company maintained a paid-up share capital of ₹1,512.37 lakhs with a face value of ₹10.00 per equity share. Basic earnings per share for Q3FY26 stood at ₹2.68, while diluted earnings per share was ₹2.67. For the nine-month period, basic earnings per share reached ₹6.24 with diluted earnings per share at ₹6.20.