Submission of auditor report on consolidated financial results for the quarter and financial year ended on 31st March 2026 along with declaration on Unmodified opinion.
Awaiting price reaction for this filing.
Onix Solar Energy Limited submitted its consolidated audited financial results for FY2026 ending 31 March 2026. The company reported consolidated total revenue of Rs. 24,453.57 Lakhs, a significant jump from Rs. 13,012.07 Lakhs in FY2025 (~88% growth), driven largely by its subsidiary Nexgenix Solar Manufacturing Private Limited. Consolidated profit after tax stood at Rs. 5,253.57 Lakhs compared to a loss of Rs. 168.34 Lakhs in the prior year. The auditor, M/s. A H Mandaliya & Associates, issued an unmodified (clean) opinion, confirming the financials present a true and fair view. The filing was a resubmission as the company had inadvertently omitted the consolidated results from an earlier board meeting outcome. Standalone PAT was Rs. 4,019.39 Lakhs vs Rs. 145.39 Lakhs in FY2025. The company operates in the renewable energy sector (solar modules).
Strong profit turnaround and revenue growth with a clean audit opinion is broadly positive. However, the standalone cash flow statement shows deeply negative operating cash outflows of Rs. 25,003 Lakhs, raising concerns about the quality of earnings despite the profit surge.