Onix Solar Energy Ltd

Dematerialisation status

• The Registrar and Transfer Agent processed dematerialisation requests for the quarter ended 30 Sep 2026 (accepted/rejected).
• Securities dematerialised have been listed on the stock exchanges where the existing issued shares are listed.
• Physical certificates were mutilated and cancelled after verification, with the depository named as registered owner within prescribed timelines.

Key transaction details

• Target company: Onix Solar Energy Limited.
• Disclosing party: Onix Renewable Limited, promoter group.
• Transaction type: Acquisition of voting rights shares.
• Pre-transaction holding: 1,98,17,885 shares (53.7537%).
• Acquired: 7,46,000 shares (2.0234%), via open market.
• Post-transaction holding: 3,68,67,926 shares (51.7302%).
• Date of transaction: 13-Oct-2026.
• Equity capital before: Rs 36,86,79,260; 3,68,67,926 shares.
• Equity capital after: Rs 36,86,79,260; 3,68,67,926 shares.
• Total diluted capital after: Rs 36,86,79,260; 3,68,67,926 shares.

AGM details

• Date: 30 September 2026, time 2:00 PM–2:19 PM, mode: VC/OAVM.
• Remote e-voting window: Sep 26 2026 9:00 AM to Sep 29 2026 5:00 PM; AGM e-voting available.

Key resolutions

• Adopt audited financial statements for year ended 31 March 2026 (standalone and consolidated).
• Re-appoint director Naman Viradiya (retiring by rotation).
• Appoint M/s A H Mandaliya & Associates as statutory auditors.
• Regularize Hitesh Bhansali as Independent Director.
• Borrowing powers up to ₹1,000 crore under sec 180(1)(c).
• Loans/guarantees/securities/investments up to ₹1,000 crore under sec 186.

Voting results

• Voting outcomes not disclosed in filing; Scrutinizer report to be disseminated to stock exchange.

Dividends

• No dividend proposed or declared at the AGM.

Director changes

• Naman Viradiya to be re-appointed (retiring by rotation).
• Hitesh Bhansali regularized as Independent Director.

Auditor appointments

• Statutory auditors appointed: M/s A H Mandaliya & Associates.

Onix Solar Energy Ltd — Trading Window Closed from 01 October 2026 till 48 hours after the declaration of Unaudited Financial Results of the Company for the Quarter and half year ended on 30th September, 2026

Key details

• Target Company: Onix Solar Energy Limited.
• Disclosing Party: Abhishek Ashvinbhai Kamdar and HUF; non-promoter PAC.
• Transaction Type: Sale of voting rights in Onix Solar Energy Limited.
• Pre-disposal holdings: Kamdar 28,10,182; HUF 17,686; total 28,27,868 shares (7.67%).
• Shares sold: Kamdar 13,07,295; HUF 17,686.
• Total shares sold: 13,24,981 (3.59% diluted).
• Post-disposal holding: Kamdar 15,02,887; HUF 0.
• Mode of Transaction: Off Market and Open Market.
• Dates: 21 August 2026 to 04 September 2026.
• Equity capital before: Rs 36,86,79,260 in 3,68,67,926 shares.
• Equity capital after: Rs 36,86,79,260 in 3,68,67,926 shares.
• Total diluted capital after: Rs 36,86,79,260 in 3,68,67,926 shares.

Financial highlights

• Standalone revenue from operations FY26: ₹157.21 crore.
• Consolidated revenue from operations FY26: ₹165.42 crore.
• Standalone PAT FY26: ₹30.16 crore.
• Consolidated PAT FY26: ₹31.48 crore.
• Standalone EPS FY26: ₹12.03 per share.
• Consolidated EPS FY26: ₹12.56 per share.
• Dividend for FY25-26 not declared.

Capital structure & funding

• Rights issues raised ₹310.04 crore; second issue ₹60.17 crore.
• Fresh equity funded capacity expansion; debt use minimal.
• Consolidated equity FY26: ₹774.19 crore.

Operations & capacity

• Installed module capacity: 200 MW; utilization around 90%.
• Expansion: 1,200 MW module line under development to 1.4 GW total.
• Two Rajkot plants at Metoda and Shapar Bilyada.

Acquisition & subsidiaries

• Acquired Nexgenix Solar Manufacturing Private Limited (99.99% stake) in Oct 2025.
• Goodwill on consolidation: ₹458.44 crore.

Governance & leadership

• Independent Director Hitesh Kantilal Bhansali appointed from 15 Jul 2026.
• Resignations: Harpreet Singh, Khilan Hareshbhai Savaliya, Nikhil Hareshbhai Savaliya.

Audit, controls & disclosures

• Statutory auditor: A H Mandaliya & Associates; Secretarial auditor: H Togadiya & Associates; Internal auditor: A H Modasiya & Co.
• Secretarial observations: quarterly newspaper publication lapse; ROC filing delays; tracking implemented.

Dividend policy & shareholder matters

• No dividend declared for FY2025-26.
• Shareholder communications and AGM procedures via VC/OAVM.

Risks & outlook

• Key risks: working capital intensity; cell-supply dependency; expansion execution; policy volatility; Rajkot concentration.

AGM Details

• Date, time, and mode: 30 September 2026 at 02:00 PM via VC/OAVM.
• Record date: 23 September 2026; Register closure: 24–30 September 2026.

Key Resolutions

• Ordinary: Adoption of standalone and consolidated financial statements for year ended 31 March 2026.
• Ordinary: Re-appointment of Naman Madhavjibhai Viradiya as Director, retiring by rotation.
• Ordinary: Appointment of M/s A H Mandaliya & Associates as Statutory Auditors for five years.
• Special: Bhansali appointed Independent Director for five years.
• Special: Borrowing powers up to Rs 1,000 crore.
• Special: Loans, guarantees, securities and investments up to Rs 1,000 crore under Section 186.

Voting & Outcomes

• Voting results not disclosed in the notice.

Director Changes

• Naman Madhavjibhai Viradiya to be re-appointed as Director.
• Hitesh Kantilal Bhansali appointed Independent Director for five-year term starting 15 July 2026.

Financing & Investments

• Borrowing powers up to Rs 1,000 crore; terms determined by Board.
• Loans/guarantees/securities/investments up to Rs 1,000 crore under Section 186.

AGM and voting timelines

• Board approves 46th AGM on Sep 30, 2026 at 2:00 PM IST via VC/OAVM.
• Book closure from Sep 24 to Sep 30, 2026 (inclusive).
• Cut-off date for voting eligibility fixed Sep 23, 2026.
• Remote e-voting from Sep 26, 2026 9:00 AM to Sep 29, 2026 5:00 PM IST.