5445322026-04-012026-06-305445322026-06-305445322026-04-012026-06-30in-capmkt:OtherExpenses1Member5445322026-04-012026-06-30in-capmkt:OtherExpenses2Member5445322026-06-30Statement15445322026-04-012026-06-30Statement15445322026-06-30Statement25445322026-04-012026-06-30Statement25445322026-06-30StatementDynamic1I1Statement15445322026-06-30StatementDynamic1I2Statement15445322026-06-30StatementDynamic2I1Statement25445322026-06-30StatementDynamic2I2Statement2iso4217:INRxbrli:pureiso4217:INRxbrli:shares544532SOLARWORLDNOTLISTEDINE0TY101024Solarworld Energy Solutions LimitedMain BoardEquity2026-04-012027-03-312026-08-142026-08-11INRMillionsQuarterlyFirst quarterSingle segmentEngineering, Procurement and Construction (EPC) services2026-08-1415:00:002026-08-1416:20:00Not applicabletrue2falseThe Company has not issued any debt securities and has no outstanding defaults in respect of any loans2026-04-012026-06-30UnauditedStandalone14396000001323500001571950000926730000004270000030120000134000035230000013531900002187600000218760000556000009700005657000001621900000000162190000016219000043336000051.871.87001.871.871.The above standalone financial results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on August 14, 2026. <br /> 2.The above unaudited standalone financial results of the Company for the quarter ended June 30, 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 /> 3.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 /> 4.The 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 ) 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 ) 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 /> 5.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 /> Objects of the issue as per prospectus: 1) Investment in our Subsidiary, KSPL for part-financing the establishment of the Pandhurana Project 2) General Corporate Purpose <br /> Amount to be utilised as per prospectus (net proceeds) : 1) 4,200 Mn. 2) 1016.78 Mn <br /> Utilised amount upto June 30, 2026 : 1) Nil 2) 1016.78 Mn. <br /> Unutilised amount upto June 30, 2026 : 1) 4200 Mn. 2) Nil <br /> IPO proceeds which were unutilized as at June 30, 2026 were temporarily invested in fixed deposits. <br /> 6. During the year ended March 31, 2025, SJVN Green Energy Limited (“SJVN”) issued notices suspending to the 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 /> In connection with the aforesaid projects, the 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 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 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 /> 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 Company has extended the validity of the bank guarantees up to July 31, 2026 and subsequently extended upto August 31, 2026. The Company has filed its statement of claims before the DAB 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 believes that the Company has a strong case on merits and is confident of a favourable outcome including recovery of the amount of Rs. 494.86 million recognised in the books as receivables. The 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 /> 7. Since the segment information as per Ind AS 108-Operating Segments is provided in the consolidated financial results, the same is not provided seperately for the standalone financial results <br /> <br /> <br /> Engineering, procurement and construction project expenses334360000Other Expenses17940000Preferential Issues2024-11-2111000000002026-06-30trueCRISIL Ratings LimitedfalseNANO COMMENTSNO COMMENTSKartik TeltiaManaging DirectorNoida2026-08-14Public Issues2025-09-2644000000002026-06-30trueCRISIL Ratings LimitedfalseNANo CommentsNo CommentsInvestment in the Subsidiary, Kartik Solarworld Private Limited for part-financing the establishment of a 1.2 GW solar PV TopCon Cell manufacturing facility in Pandhurana, Madhya Pradesh, India (the Pandhurana Project)NA83220000000General Corporate PurposesNA1016780000010167800000Investment in the Subsidiary, Kartik Solarworld Private Limited for part-financing the establishment of a 1.2 GW solar PV TopCon Cell manufacturing facility in Pandhurana, Madhya Pradesh, India (the Pandhurana Project)NA4116780000000Issue ExpensesNA28322000002596000000