Onix Solar Energy Appoints Independent Director, Approves Q1 FY27 Results and Establishes New Corporate Office
Onix Solar Energy Ltd. announced several corporate developments following its Board of Directors meeting held on July 15, 2026. The company approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, and formalized key operational changes, including the appointment of a new Independent Director and the establishment of a corporate office in Gujarat.Board Decisions and Corporate Structure
The meeting on July 15, 2026, saw the consideration and approval of critical strategic and governance items by Onix Solar Energy Ltd. Directors. Key decisions included:- Corporate Office: The company approved the establishment and commencement of its corporate office, effective from July 14, 2026, located at P-212 B, Gate No. 2, Lodhika GIDC, Rajkot, Metoda, Gujarat, India - 360021.
- Appointments: The Board approved the appointment of Mr. Hitesh Kantilal Bhansali as an Independent Director for a term of five consecutive years. This appointment remains subject to the approval of the company's shareholders. Mr. Bhansali, who is a Commerce Graduate with experience in business strategy development and marketing, was confirmed as not being related to any existing director.
- Committee Reconstitution: The Board considered and approved the reconstitution of the Audit Committee, Nomination and Remuneration Committee, and Stakeholders' Relationship Committee, effective immediately.
Financial Performance Highlights (Standalone Results)
The company reported its Unaudited Standalone Financial Results for the quarter ended June 30, 2026. The results show a net profit for the period from continuing operations of 2,083.13 Lakhs.Key financial metrics in Lakhs:
| Metric | Q Ended 30.06.2026 (Un-Audited) | Q Ended 31.03.2026 (Audited) | Q Ended 30.06.2025 (Un-Audited) | Y Ended 31.03.2026 (Audited) |
|---|---|---|---|---|
| Total Revenue | 9,373.56 | 7,059.14 | 4,530.91 | 15,774.08 |
| Total Expenses | 6,590.42 | 4,492.10 | 4,395.85 | 11,754.69 |
| Profit/(Loss) before Tax | 2,783.13 | 2,567.04 | 135.06 | 4,019.39 |
| Profit/(Loss) for the period from Continuing Operations | 2,083.13 | 2,567.04 | 101.01 | 4,019.39 |
Consolidated Financial Performance (Q1 FY27)
The Unaudited Consolidated Financial Results for the quarter ended June 30, 2026, reflect total revenue of 9,451.80 Lakhs and a Profit/(Loss) before tax of 2,791.94 Lakhs. Total expenses for the period stood at 6,659.86 Lakhs.The performance across various periods is summarized below:
| Metric | Q Ended 30.06.2026 (Un-Audited) | Q Ended 31.03.2026 (Audited) | Q Ended 30.06.2025 (Un-Audited) | Y Ended 31.03.2026 (Audited) |
|---|---|---|---|---|
| Total Revenue | 9,451.80 | 7,717.74 | 10,380.63 | 24,453.57 |
| Total Expenses | 6,659.86 | 4,907.31 | 9,635.51 | 19,199.99 |
| Profit/(Loss) before Tax | 2,791.94 | 2,810.44 | 745.12 | 5,253.57 |
| Profit/(Loss) for the period from Continuing Operations | 2,089.74 | 2,810.44 | 713.02 | 5,253.57 |
Key Earnings Per Share (EPS) metrics for both standalone and consolidated results are detailed below:
| Metric | Standalone EPS (Q Ended 30.06.2026) | Consolidated EPS (Q Ended 30.06.2026) |
|---|---|---|
| Basic Earnings per Equity Share | 5.65 | 5.67 |
| Diluted Earnings per Equity Share | 5.65 | 5.67 |
Stock Price Movement
Onix Solar Energy Ltd settled at ₹645.35 on Wednesday, with shares dipping 0.36% in after-hours trading. The stock saw movement throughout the day, trading within an intraday range that stretched from a low of ₹641.00 to a high of ₹656.75.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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