Ujaas energy has announced the unfortunate demise of its Chairman & Managing Director, Shri Shyamsunder Mundra, in a regulatory filing submitted to stock exchanges on February 2, 2026. The solar energy company informed that Shri Mundra passed away on February 1, 2026, marking a significant loss for the organization.

Leadership Tenure and Contribution

Shri Shyamsunder Mundra had been serving as a Director of the company since June 9, 1999, demonstrating nearly three decades of dedicated service. The company acknowledged his pivotal leadership role, stating that the organization immensely benefited from his guidance and vision throughout his tenure.

Regulatory Compliance and Impact

The company has filed the necessary disclosures under Regulation 30 and Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. As per regulatory requirements, Shri Shyamsunder Mundra will cease to be part of the Promoter/Promoter Group of the company following his demise, in accordance with Regulation 31A(6)(c) of the SEBI LODR Regulations, 2015.

Company Response

Ujaas Energy described the passing as sudden and unexpected, calling it an irreparable loss to the organization. The company stated that all Directors and employees have conveyed their deep sympathy, sorrow, and condolences to his family during this difficult time. The regulatory filing was signed by Company Secretary & Compliance Officer Sarvesh Diwan, who submitted the required documentation to both BSE Limited and National Stock Exchange of India Limited.

Stock Exchange Notification

The formal intimation was sent to both major stock exchanges where Ujaas Energy is listed - BSE Limited (Scrip Code: 533644) and National Stock Exchange of India Limited (Symbol: UEL). The company has provided all required details as mandated by SEBI Listing Regulations in the annexure accompanying the main disclosure.

Ujaas Energy Limited announced its Q3FY26 financial results, showing significant declines in revenue and profitability compared to the corresponding previous year period. The company's Board of Directors approved the unaudited financial results for the quarter and nine months ended December 31, 2025, in their meeting held on January 20, 2026.

Financial Performance Overview

The company's financial performance showed substantial year-on-year declines across key metrics for Q3FY26:

For the nine-month period ended December 31, 2025, revenue from operations declined 42.63% to ₹1,099.42 crores compared to ₹1,916.16 crores in the previous year. Net profit for the nine-month period was ₹273.80 crores, down 67.96% from ₹854.63 crores in the corresponding previous period.

Segment-wise Performance

The company operates across three main business segments with varying performance levels:

The solar power plant operations segment, which is the company's primary revenue driver, experienced a significant decline of 66.35% in Q3FY26. The manufacturing and sale of solar power systems segment showed positive revenue of ₹1.60 crores compared to negative revenue in the previous year.

Corporate Developments

During Q3FY26, the company allotted 222.65 lakh bonus shares to existing public shareholders, with promoters forgoing their entitlement to achieve Minimum Public Shareholding requirements. The Board approved a preferential issue of 1,275.70 lakh equity shares at ₹11 per share to non-promoter investors for cash consideration of ₹14,032.70 crores, which received shareholder approval on December 1, 2025.

For the nine-month period, other income included ₹395 lakhs from bad debts recovered and ₹173 lakhs interest income on arbitration award for a 15 MW solar power plant from Hindustan Aeronautics Limited, Nashik.

Auditor Qualification

The statutory auditors issued a qualified opinion regarding accrued interest income on fixed deposits with Axis Bank amounting to ₹4.41 lakhs for Q3FY26, which has not been credited by the bank. This creates a difference between the company's books and bank confirmation. The paid-up equity share capital increased to ₹1,333.98 crores as of December 31, 2025, compared to ₹1,066.27 crores in the previous year, reflecting the bonus share allotments during the period.