Results - Outcome of Board Meeting
Awaiting price reaction for this filing.
Onix Solar Energy Ltd reported strong audited financial results for FY ended March 2026. Revenue from operations surged to Rs. 15,711.79 Lakhs from Rs. 2,938.53 Lakhs in the previous year, representing over 434% growth. Profit after tax (PAT) jumped dramatically to Rs. 4,019.39 Lakhs compared to Rs. 145.39 Lakhs in FY 2025. Basic EPS improved from Rs. 7.34 to Rs. 196.13. However, operating cash flow was significantly negative at Rs. 73,879.64 Lakhs due to large increases in trade receivables (Rs. 9,557.63 Lakhs) and inventory (Rs. 6,452.35 Lakhs). The company raised substantial equity capital of Rs. 73,863.28 Lakhs during the year. Statutory auditors M/s. A H Mandaliya & Associates issued an unmodified (clean) audit opinion.
While PAT grew exceptionally, the large negative operating cash flow and massive working capital buildup may raise concerns about cash conversion quality despite strong profitability. The clean audit opinion provides some comfort to shareholders.