Results - Sept 2025
Awaiting price reaction for this filing.
Onix Solar Energy Ltd (formerly ABC Gas International Ltd) reported a massive jump in revenue for H1 FY26 at ₹8,846.68 lakhs, up sharply from just ₹38.96 lakhs in H1 FY25, reflecting a business pivot into the solar/renewable energy segment. However, profitability was weak — the company posted a net loss of ₹75.54 lakhs in Q2 FY26 (vs ₹14.84 lakhs profit a year ago), pulling down H1 FY26 PAT to ₹17.59 lakhs (slightly below ₹19.09 lakhs in H1 FY25). EPS for H1 stood at ₹0.89 vs ₹0.96 earlier. Operating cashflow turned negative at (₹31.95) lakhs, and cash balances plunged from ₹164.25 lakhs to just ₹4.26 lakhs as trade receivables and payables both ballooned sharply. The auditor issued a clean review report with no qualifications.
Top-line growth is impressive but margins are razor-thin, leading to a quarterly loss and negative operating cashflow. Sharp rise in receivables and payables along with dwindling cash could pressure short-term liquidity and is a watch-out for shareholders despite the revenue surge.