5445322026-01-012026-03-315445322026-03-315445322025-03-315445322025-04-012026-03-315445322026-01-012026-03-31in-capmkt:OtherExpenses1Member5445322026-01-012026-03-31in-capmkt:OtherExpenses2Member5445322025-04-012026-03-31in-capmkt:OtherExpenses1Member5445322025-04-012026-03-31in-capmkt:OtherExpenses2Member5445322026-03-31OtherNoncurrentFinancialAssetsDomain15445322026-03-31OtherNoncurrentAssetsDomain15445322026-03-31OtherNoncurrentAssetsDomain25445322026-03-31OtherCurrentFinancialAssetsDomain15445322026-03-31OtherCurrentAssetsDomain15445322026-03-31OtherCurrentFinancialLiabilitiesDomain15445322026-03-31OtherCurrentLiabilitiesDomain15445322026-01-012026-03-31in-capmkt:ReportableSegments1Member5445322026-01-012026-03-31in-capmkt:ReportableSegments2Member5445322025-04-012026-03-31in-capmkt:ReportableSegments1Member5445322025-04-012026-03-31in-capmkt:ReportableSegments2Member5445322026-01-012026-03-31in-capmkt:ReportableSegments1Member5445322026-01-012026-03-31in-capmkt:ReportableSegments2Member5445322025-04-012026-03-31in-capmkt:ReportableSegments1Member5445322025-04-012026-03-31in-capmkt:ReportableSegments2Member5445322026-01-012026-03-31in-capmkt:ReportableSegments1Member5445322026-03-31in-capmkt:ReportableSegments1Member5445322026-01-012026-03-31in-capmkt:ReportableSegments2Member5445322026-03-31in-capmkt:ReportableSegments2Member5445322026-01-012026-03-31in-capmkt:ReportableSegments1Member5445322026-03-31in-capmkt:ReportableSegments1Member5445322026-01-012026-03-31in-capmkt:ReportableSegments2Member5445322026-03-31in-capmkt:ReportableSegments2Member5445322026-01-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15445322026-01-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss25445322025-04-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15445322025-04-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss25445322026-01-012026-03-31AuditorDomain15445322026-01-012026-03-31AuditorDomain2iso4217:INRiso4217:INRxbrli:shares544532SOLARWORLDNOTLISTEDINE0TY101024Solarworld Energy Solutions LimitedMain BoardEquity2025-04-012026-03-312026-05-262026-05-21INRMillionsQuarterlyFourth quarterMulti segment2026-05-2611:00:002026-05-2613:00:00trueCash Flow IndirectDeclaration of unmodified opinion2026-01-012026-03-31AuditedConsolidated5918120000151410000606953000051030500007840000-51965000084200000716900001847000066126000054268600006426700000642670000158710000-16300001570800000485590000000495000049054000046100004951500004905500000495170000043336000055.665.66005.665.661. The above consolidated financial results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on May 26, 2026. <BR> <BR> 2. The audited consolidated financial results of the Group for the quarter and year ended March 31, 2026 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> <BR> 3. The comparative figures of the quarter ended March 31, 2025 have not been subjected to audit or review by statutory auditors. However, the management has exercised due care and diligence to ensure that the unaudited consolidated financial results for the said period present a true and fair view of the Group's financial performance. <BR> <BR> 4. The figures for the quarter ended March 31, 2026 are the balancing figures between audited figures in respect of financial year ended March 31, 2026 and the published limited reviewed figures for the nine months period ended December 31, 2025. <BR> <BR> 5. The Parent Company has completed its initial public offer (IPO) of Rs. 4900.00 millions 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) comprising of fresh issue of Rs. 4400.00 millions which included 1,25,35,612 equity shares and offer for sale of Rs. 500.00 million which included 14,24,501 equity shares by the promoter selling shareholder. The shares of the Company got listed on the National Stock Exchange of India Limited and the Bombay Stock Exchange on September 30, 2025. <BR> <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 to 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 March 31, 2026 Unutilised amount upto March 31, 2026 <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 1,016.58 0.20 <BR> Total 5,216.78 1,016.58 4,200.20 <BR> IPO proceeds which were unutilized as at March 31, 2026 were temporarily invested in fixed deposits. <BR> <BR> 7. During the previous year ended March 31, 2025, SJVN Green Energy Limited (“SJVN”) issued notices suspending to the Parent Company’s EPC contracts relating to 100 MW and 260 MW solar projects having an aggregate contract value of Rs. 4,592.19 million, citing land-related issues. The suspension, initially imposed up to September 15, 2025, was subsequently extended up to December 31, 2025. <BR> <BR> In connection with the aforesaid projects, the Parent Company had furnished bank guarantees aggregating to Rs. 137.77 million in favour of SJVN. Pursuant to the continued suspension of the projects, SJVN sought extension of the bank guarantees and subsequently initiated steps for invocation thereof upon non-extension by the Parent Company. Considering that the delays and suspension were attributable to non-availability of land and other contractual obligations required to be fulfilled by SJVN, the Parent Company filed a petition under Section 9 of the Arbitration and Conciliation Act, 1996 before the Hon’ble High Court of Delhi, challenging the invocation of the bank guarantees and seeking recovery of retention money and other receivables. <BR> <BR> Pursuant to the directions of the Hon’ble High Court of Delhi, adjudication proceedings have been initiated before the Disputes Adjudication Board (“DAB”) in accordance with the dispute resolution mechanism prescribed under the contracts, and the Parent Company has extended the validity of the bank guarantees up to July 31, 2026. The Parent Company has filed its statement of claims before the DAB amounting to Rs 2,193.35 million including claims towards release of retention amounts, recovery of dues for supplied/dispatched materials, compensation for idling and prolongation costs, loss of profits and reimbursement of legal costs. SJVN has also filed its responses, and the adjudication proceedings are presently in progress. <BR> Based on the contractual terms, legal advice obtained and management’s assessment of the facts and circumstances of the matter, management of the Parent Company believes that the it has a strong case on merits and is confident of a favourable outcome including recovery of the amount of Rs. 515.06 million recognised in the books as receivables. The Parent Company will recognise the claims once the amount is certain as per the Indian Accounting Standards. However, the ultimate outcome of the proceedings is subject to final adjudication by the DAB, including evaluation of the evidence, merits of the respective claims and counterclaims, and quantification of the amounts recoverable/payable. Accordingly, pending final resolution of the matter, no provision is considered necessary in the accompanying financial results 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 material. <BR> <BR> The Government is in process of notifying related rules to the New Labour Codes and impact of these will be evaluated and accounted for in accordance with applicable accounting standards in the period in which they are notified. <BR> <BR> 9. During the year, the Parent Company incorporated a joint venture, Zentrix PV Labs Private Limited, to engage in the Manufacturing business activities with a focus on renewable energy and allied sectors. <BR> <BR> 10. During the year, a subsidiary of the Group has commenced commercial operations and the Chief Operating Decision Maker (CODM) has accordingly identified two reportable segments - Engineering, Procurement and Construction (EPC) Contracts and Manufacturing. Accordingly, previous period figures have also been presented for the first time as per the requirement of Ind AS-108, Operating segments. <BR> 2025-04-012026-03-31AuditedConsolidated137615600003991000001416066000011179230000318690000-64293000023872000020653000052410000118769000012540340000162032000001620320000417630000-1186000040577000001214550000000-981000012047400001520000120626000012047400000120626000004333600005804461000014.9514.940014.9514.94Engineering, procurement and construction project expenses577840000Others83420000Engineering, procurement and construction project expenses960880000Others22681000014476100004252800002400000637600000214390000278150000599100001005600002311750000106127000003477060000229120000549060000016386000030840400001244468000010623300001456828000016880030000433360000804461000084779700008477970000647800000647800000133600006611600001906790000427700000402462000044523200001372900006496400000124071000037900007740900000840206000016880030000Deposits with remaining maturity of more than 12 months214390000Non current tax assets (net)12460000Others88100000Other current financial assets3084040000Other current assets1062330000Other current financial liabilities137290000Other current liabilities1240710000(a) Engineering, procurement and construction (EPC) contracts5115000000(b) Manufacturing810800000(a) Engineering, procurement and construction (EPC) contracts12020050000(b) Manufacturing1759750000592580000013779800000768000018240000591812000013761560000(a) Engineering, procurement and construction (EPC) contracts670260000(b) Manufacturing-26500000(a) Engineering, procurement and construction (EPC) contracts1780050000(b) Manufacturing-1521300006437600001627920000-3870000174000006476300001610520000(a) Engineering, procurement and construction (EPC) contracts14728740000(b) Manufacturing392459000018653330000-177330000016880030000(a) Engineering, procurement and construction (EPC) contracts6164600000(b) Manufacturing406708000010231680000-18296200008402060000During the year, a subsidiary of the Group has commenced commercial operations and the Chief Operating Decision Maker (CODM) has accordingly identified two reportable segments - Engineering, Procurement and Construction (EPC) Contracts and Manufacturing. Accordingly, previous period figures have also been presented for the first time as per the requirement of Ind AS-108, Operating segments.206530000-1040840000-18904900000-53121000000-22136000000382701000002870600000524100000-164900005190000185200000300000022500000079300000000-1441500000-1656830000-365100000004482400000-4847500000000-50000000098000059714000000000000000114874000055330100003795000010000000000014626000000-477262000000439999000000000139887000023360000001730000000-22688000053756200001182500000118250000110870000229120000Re-measurement of defined benefit plans6160000Income tax relsting to these items-15500004610000Re-measurement of defined benefit plans2030000Income tax relsting to these items-51000015200000046100001520000AuditedtrueS S KOTHARI MEHTA & CO. LLPtrue2028-08-31DARPN & COMPANYtrue2028-08-31