The company’s consolidated net profit rose 54% year-on-year to ₹57 crore from ₹37 crore, while revenue from operations increased 55.4% to ₹505 crore from ₹325 crore a year earlier.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) grew 44% year-on-year to ₹82.4 crore, while the EBITDA margin contracted to 16.3% from 17.6% in the corresponding quarter last year.
Profit before tax increased to ₹80.3 crore from ₹50.5 crore a year earlier, while total income climbed to ₹508.6 crore from ₹326.4 crore. Total expenses rose to ₹428.4 crore from ₹275.9 crore, reflecting higher business activity during the quarter.
The company operates across two business segments — engineering, procurement and construction (EPC) and the trading of solar cells (DCR) and other products.
The EPC business continued to account for the bulk of revenue during the quarter. Segment profit before finance costs, depreciation and amortisation stood at ₹85 crore, compared with ₹65.7 crore in the year-ago period.
Separately, the board recommended a final dividend of ₹0.50 per equity share of face value ₹2 each for FY26, subject to shareholders’ approval at the upcoming annual general meeting.It also approved convening the 18th AGM on August 31 via video conferencing and appointed CS Avanti Rajwade as the company’s secretarial auditor for a five-year term beginning FY27.
Shares of the company gained as much as 10%, reaching the intraday high of ₹143.16 following the Q1 results announcement, but they have pared some gains and were 6.8% higher at ₹139. The stock has gained more than 22% over the last six months, while falling nearly 11% so far in 2026.
