5445322025-10-012025-12-315445322025-12-315445322025-04-012025-12-315445322025-10-012025-12-31in-capmkt:OtherExpenses1Member5445322025-10-012025-12-31in-capmkt:OtherExpenses2Member5445322025-04-012025-12-31in-capmkt:OtherExpenses1Member5445322025-04-012025-12-31in-capmkt:OtherExpenses2Member5445322025-10-012025-12-31in-capmkt:ReportableSegments1Member5445322025-10-012025-12-31in-capmkt:ReportableSegments2Member5445322025-04-012025-12-31in-capmkt:ReportableSegments1Member5445322025-04-012025-12-31in-capmkt:ReportableSegments2Member5445322025-10-012025-12-31in-capmkt:ReportableSegments1Member5445322025-10-012025-12-31in-capmkt:ReportableSegments2Member5445322025-04-012025-12-31in-capmkt:ReportableSegments1Member5445322025-04-012025-12-31in-capmkt:ReportableSegments2Member5445322025-10-012025-12-31in-capmkt:ReportableSegments1Member5445322025-12-31in-capmkt:ReportableSegments1Member5445322025-10-012025-12-31in-capmkt:ReportableSegments2Member5445322025-12-31in-capmkt:ReportableSegments2Member5445322025-10-012025-12-31in-capmkt:ReportableSegments1Member5445322025-12-31in-capmkt:ReportableSegments1Member5445322025-10-012025-12-31in-capmkt:ReportableSegments2Member5445322025-12-31in-capmkt:ReportableSegments2Member5445322025-10-012025-12-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15445322025-10-012025-12-31ItemsThatWillNotBeReclassifiedToProfitAndLoss25445322025-04-012025-12-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15445322025-04-012025-12-31ItemsThatWillNotBeReclassifiedToProfitAndLoss2iso4217:INRiso4217:INRxbrli:shares544532SOLARWORLDNOTLISTEDINE0TY101024SOLARWORLD ENERGY SOLUTIONS LIMITEDMain BoardEquity2025-04-012026-03-312026-01-282026-01-22INRMillionsQuarterlyThird quarterMulti segment2026-01-2812:00:002026-01-2814:00:00Not applicable2025-10-012025-12-31UnauditedConsolidated5782290000961700005878460000476732000013290000-10374000069220000637200001792000037814000052058700006725900000672590000174840000-54800001693600000503230000000-11040000492190000-10300004911600004921900000-103000049116000043337000055.685.68005.685.681 The above consolidated financial results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on January 28, 2026. The statutory auditors of the Group have carried out a limited review of these results. <BR> 2 The unaudited consolidated financial results of the Group for the quarter and nine months period ended December 31, 2025 have been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards as prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India and in terms of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015, as amended. <BR> 3 The equity shares of the Parent Company were listed on the National Stock Exchange of India Limited and the Bombay Stock Exchange on September 30, 2025. The comparative figures of the quarter and nine months period ended December 31, 2024 have not been subjected to audit or review by statutory auditors. However, the management has exercised due care and diligence to ensure that the consolidated unaudited financial results for the said period present a true and fair view of the Group's financial performance. <BR> 4 The figures for the year ended 31 March 2025 have been extracted from the consolidated audited general-purpose financial statements of the Group. <BR> 5 The Parent Company has completed its initial public offer (IPO) of Rs. 4,900.00 million which included 1,39,60,113 equity shares of face value of Rs. 5/- each at an issue price of Rs. 351 per equity share (including share premium of Rs. 346 per share). Out of the above, offer for sale by promoter selling 14,24,501 equity shares (at an issue price of Rs. 351 per equity share) valued at Rs. 500.00 million and fresh issue of 1,25,35,612 equity shares (at an issue price of Rs. 351 per equity share) valued at Rs. 4,400.00. The shares of the Company are listed on the National Stock Exchange of India Limited and the Bombay Stock Exchange on September 30, 2025. <BR> 6 The total proceeds from issue of shares consisted of IPO proceeds of Rs. 4,400 million (excluding offer for sale by promoters) and pre-IPO proceeds of Rs. 1,100 million aggregating to Rs. 5,500 million. The offer expenses (estimated) amounted to Rs. 283.22 million leaving a net proceeds Rs. 5,216.78 millions. The details of objects of issue and its utilised/unutilised portion is as follows: <BR> <BR> Objects of the issue as per prospectus Amount to be utilised as per prospectus (net proceeds) Utilised amount upto December 31, 2025 Unutilised amount upto December 31, 2025 <BR> Investment in our Subsidiary, KSPL for part-financing the establishment of the Pandhurana Project 4,200.00 - 4,200.00 <BR> General Corporate Purpose 1,016.78 998.58 18.20 <BR> Total 5,216.78 998.58 4,218.20 <BR> <BR> 7. During the previous year ended March 31, 2025, the Parent Company had received a notice from SJVN Green Energy Limited ("SJVN") regarding its Engineering, Procurement, and Construction (EPC) contracts for the 100 MW and 260 MW projects, having an aggregate EPC contract value of Rs. 4,592.19 million, suspending all project-related activities until September 15, 2025 or until further instructions are received from SJVN. The suspension was issued by SJVN citing land-related issues. The said suspension was further extended till December 31, 2025. The Company towards this project, had issued bank guarantees favouring SJVN valued at Rs. 137.77 million having validity till January 31, 2026. In view of the suspension of the project SJVN requested for extension of the bank guarantee issued by the Company. As no extension was granted by the Company, SJVN gave intimation of invocation of bank guarantee subsequent to the quarter ending December 31, 2025 with the condition that if the Company extends the bank guarantee it will call back the invocation. The Company instead of extending the bank guarantee has in the interim filed a petition under section 9 of the Arbitration and Conciliation Act, 1996 with Hon’ble High Court of Delhi on January 24, 2026 against the invocation of bank guarantee as the delay is on account of failure of SJVN to provide the land for the project. The Company has also further sought release of Retention amount of Rs 363.75 million and other recoverable(including trade receivables) of Rs. 356.78 million aggregating to Rs. 720.53 million (excluding interest). <BR> <BR> Based on the assessment and technical evaluation of the terms of the contract and considering that the failure is on the part of SJVN, the management is confident of getting favourable order and that all amounts due as above from SJVN are considered as good and fully recoverable and no provision is considered necessary at this stage. <BR> <BR> 8. The Government of India vide notification w.e.f November 21, 2025 has consolidated multiple existing legislations into a unified framework comprising four Labour Codes collectively referred to as the 'New Labour Codes'. As per Ind AS 19 ‘Employees Benefit’, changes to employee benefit plans arising from legislative amendments constitute a planned amendment, requiring recognition of past service cost immediately in the statement of profit and Loss. The calculated financial impact due to introduction of new labour codes is not considered material and therefore has not been taken in these financial results. <BR> <BR> 9. During the previous quarter, a wholly owned subsidiary of the Group, Znshine Solarworld Private Limited has commenced commercial operations and the Chief Operating Decision Maker (CODM) has accordingly identified two reportable segments as follows: <BR> <BR> (A) Engineering, Procurement and Construction (EPC) Contracts, and <BR> (B) Manufacturing. <BR> <BR> Accordingly, previous period figures have also been presented as per the requirements of Ind-AS 108 operating segments. <BR> <BR> <BR> <BR> <BR> <BR> 2025-04-012025-12-31UnauditedConsolidated784344000024769000080911300006076180000310850000-1232800001545200001348400003394000052643000071134800009776500000977650000258920000-102300002486900000728960000000-14760000714200000-30900007111100007142000000-309000071111000043337000059.099.09009.099.09Engineering, procurement and construction project expenses303940000Other Expenses74200000Engineering, procurement and construction project expenses383040000Other Expenses143390000(a) Engineering, procurement and construction (EPC) contracts4953830000(b) Manufacturing830490000(a) Engineering, procurement and construction (EPC) contracts6905050000(b) Manufacturing9489500005784320000785400000020200001056000057823000007843440000(a) Engineering, procurement and construction (EPC) contracts690050000(b) Manufacturing-13470000(a) Engineering, procurement and construction (EPC) contracts1109790000(b) Manufacturing-1256300006765800009841600001502000021270000661560000962890000(a) Engineering, procurement and construction (EPC) contracts14896780000(b) Manufacturing376533000018662110000-155703000017105080000(a) Engineering, procurement and construction (EPC) contracts7096560000(b) Manufacturing355520000010651760000-15376200009114140000During the previous quarter, a wholly owned subsidiary of the Group, Znshine Solarworld Private Limited has commenced commercial operations and the Chief Operating Decision Maker (CODM) has accordingly identified two reportable segments as follows: <BR> <BR> (A) Engineering, Procurement and Construction (EPC) Contracts, and <BR> (B) Manufacturing. <BR> <BR> Accordingly, previous period figures have also been presented as per the requirements of Ind-AS 108 operating segments. <BR> <BR> Remarks for Segment Information <BR> <BR> 1 Figures provided under the heading Other Unallocable Expenditure net off Unallocable Income in Segment results includes Share in loss of joint ventures and associates (net of taxes). <BR> <BR> 2 Figures provided under the heading Other Unallocable Assets in Segment assets includes Inter segment eliminations or adjustments. <BR> <BR> 3 Figures provided under the heading Other Unallocable Liabilities in Segment liabilities includes Inter-segment eliminations or adjustments. <BR> '-Re-measurement of defined benefit plans-1380000Income tax relating to items that will not be reclassified to profit or loss350000-1030000'-Re-measurement of defined benefit plans-4130000Income tax relating to items that will not be reclassified to profit or loss1040000-30900000000-1030000-3090000