Considered and approved the Annual Financial Statements for the Financial year ended 31.03.2025. Considered and approved the Audited Financial Results for the quarter -4 and year ended ....
Awaiting price reaction for this filing.
On May 19, 2025, the Board of Onix Solar Energy Ltd approved audited financial results for Q4 and FY ended March 31, 2025, appointed Krina Gokulkumar Shah as Secretarial Auditor for FY26, and shifted its registered office from Worli to Andheri East, Mumbai. Revenue from operations jumped sharply to ~Rs. 2,327 lakhs in FY25 from a very small base in FY24, while net profit rose to ~Rs. 145 lakhs (EPS Rs. 7.34) from ~Rs. 21 lakhs (EPS Rs. 1.06) — a multi-fold jump. Exceptional items include a one-time Godown Compensation of Rs. 82.51 lakhs and a profit on sale of fixed assets, which materially boosted earnings. The statutory auditor (Jhunjhunwala Jain & Associates LLP) issued an unmodified opinion but flagged an Emphasis of Matter regarding non-compliance with Section 203 of the Companies Act — the company has not appointed a Managing Director, CEO, Manager, or Whole-Time Director, exposing it to indeterminate penalties.
Strong headline earnings growth is positive for shareholders, but the surge appears partly driven by one-time items (Godown Compensation, asset sale) rather than core operations. The Section 203 non-compliance flagged by auditors is a governance red flag and could attract regulatory penalties. Investors should look at the quality and sustainability of the revenue jump before drawing conclusions.