Ujaas Energy Limited has informed the Exchange about financial results for the quarter and year ended March 31, 2026
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Ujaas Energy Limited reported audited standalone financial results for FY 2026. Total revenue declined to Rs. 2,602.20 Lakhs from Rs. 3,435.52 Lakhs in the previous year (~24% decline), driven mainly by lower revenue from Solar Power Plant Operation (Rs. 1,707.04 Lakhs vs Rs. 2,723.68 Lakhs). Profit after tax dropped significantly to Rs. 316.26 Lakhs from Rs. 885.01 Lakhs (~64% decline). The auditor issued a qualified opinion due to two unresolved issues: (1) unconfirmed trade receivables of Rs. 2,855.44 Lakhs out of total Rs. 2,855.62 Lakhs, and (2) a Rs. 80.21 Lakhs discrepancy between company books and Axis Bank confirmations regarding accrued interest on fixed deposits. The company also completed a preferential issue of 1,275.70 Lakhs equity shares at Rs. 11 per share, raising Rs. 14,032.70 Lakhs. The Management Committee was reconstituted and M/s. MMM & Co. appointed as internal auditor for FY 2026-27.
The qualified opinion raises concerns about the reliability of trade receivables (Rs. 28.55 crore) and potential asset overstatement. The significant decline in revenue and profitability, combined with unresolved auditor concerns, may negatively impact investor confidence and stock price.