General information about company
Scrip code*		544532
NSE Symbol*		SOLARWORLD
MSEI Symbol*		NOTLISTED
ISIN*		INE0TY101024
Name of company		Solarworld Energy Solutions Limited
Type of company		Main Board
Class of security		Equity
Date of start of financial year		01-04-2025
Date of end of financial year		31-03-2026
Date of board meeting when results were approved		26-05-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange		21-05-2026
Description of presentation currency		INR
Level of rounding		Millions
Reporting Type		Quarterly
Reporting Quarter		Fourth quarter
Nature of report standalone or consolidated		Consolidated
Whether results are audited or unaudited for the quarter ended		Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended		Audited
Segment Reporting		Multi segment
Description of single segment
Start date and time of board meeting		26-05-2026 11:00
End date and time of board meeting		26-05-2026 13:00
Whether cash flow statement is applicable on company		Yes
Type of cash flow statement		Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification		Declaration of unmodified opinion

Financial Results – Ind-AS
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period		01-01-2026	01-04-2025
Date of end of reporting period		31-03-2026	31-03-2026
Whether results are audited or unaudited		Audited	Audited
Nature of report standalone or consolidated		Consolidated	Consolidated
Part I	Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1	Income
	Revenue from operations	5918.12	13761.56
	Other income	151.41	399.1
	Total income	6069.53	14160.66
2	Expenses
(a)	Cost of materials consumed	5103.05	11179.23
(b)	Purchases of stock-in-trade	7.84	318.69
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	-519.65	-642.93
(d)	Employee benefit expense	84.2	238.72
(e)	Finance costs	71.69	206.53
(f)	Depreciation, depletion and amortisation expense	18.47	52.41
(g)	Other Expenses
1	Engineering, procurement and construction project expenses	577.84	960.88
2	Others	83.42	226.81
	Total other expenses	661.26	1187.69
	Total expenses	5426.86	12540.34
3	Total profit before exceptional items and tax	642.67	1620.32
4	Exceptional items	0	0
5	Total profit before tax	642.67	1620.32
6	Tax expense
7	Current tax	158.71	417.63
8	Deferred tax	-1.63	-11.86
9	Total tax expenses	157.08	405.77
10	Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement	0	0
11	Net Profit Loss for the period from continuing operations	485.59	1214.55
12	Profit (loss) from discontinued operations before tax	0	0
13	Tax expense of discontinued operations	0	0
14	Net profit (loss) from discontinued operation after tax	0	0
15	Share of profit (loss) of associates and joint ventures accounted for using equity method	4.95	-9.81
16	Total profit (loss) for period	490.54	1204.74
17	Other comprehensive income net of taxes	4.61	1.52
18	Total Comprehensive Income for the period	495.15	1206.26
19	Total profit or loss, attributable to
	Profit or loss, attributable to owners of parent	490.55	1204.74
	Total profit or loss, attributable to non-controlling interests	0	0
20	Total Comprehensive income for the period attributable to
	Comprehensive income for the period attributable to owners of parent	495.17	1206.26
	Total comprehensive income for the period attributable to owners of parent non-controlling interests	0	0
21	Details of equity share capital
	Paid-up equity share capital	433.36	433.36
	Face value of equity share capital	5	5
22	Reserves excluding revaluation reserve		8044.61
23	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	5.66	14.95
	Diluted earnings (loss) per share from continuing operations	5.66	14.94
ii	Earnings per equity share for discontinued operations
	Basic earnings (loss) per share from discontinued operations	0	0
	Diluted earnings (loss) per share from discontinued operations	0	0
iii	Earnings per equity share (for continuing and discontinued operations)
	Basic earnings (loss) per share from continuing and discontinued operations	5.66	14.95
	Diluted earnings (loss) per share from continuing and discontinued operations	5.66	14.94
24	Debt equity ratio			Textual Information( 1)
25	Debt service coverage ratio			Textual Information( 2)
26	Interest service coverage ratio			Textual Information( 3)
27	Disclosure of notes on financial results	Textual Information(4)

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Textual Information(4)

1. 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.

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.

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.

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.

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.

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:

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
Investment in our Subsidiary, KSPL for part-financing the establishment of the Pandhurana Project 4,200.00 - 4,200.00
General Corporate Purpose 1,016.78 1,016.58 0.20
Total 5,216.78 1,016.58 4,200.20
IPO proceeds which were unutilized as at March 31, 2026 were temporarily invested in fixed deposits.

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.

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.

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.
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.

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.

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.

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.

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.

Statement of Asset and Liabilities
Particulars		Year ended (dd-mm-yyyy)
Date of start of reporting period		01-04-2025
Date of end of reporting period		31-03-2026
Whether results are audited or unaudited		Audited
Nature of report standalone or consolidated		Consolidated
	Assets
1	Non-current assets
	Property, plant and equipment	1447.61
	Capital work-in-progress	425.28
	Investment property
	Goodwill	0.24
	Other intangible assets	0
	Intangible assets under development
	Biological assets other than bearer plants
	Investments accounted for using equity method
	Non-current financial assets
	Non-current investments	63.76
	Trade receivables, non-current
	Loans, non-current	0
	Other non-current financial assets
1	Deposits with remaining maturity of more than 12 months	214.39
2
3
4
5
	Details of other non-current financial assets
	Total of other non-current financial assets	214.39
	Total non-current financial assets	278.15
	Deferred tax assets (net)	59.91
	Other non-current assets
1	Non current tax assets (net)	12.46
2	Others	88.1
3
4
5
	Details of other non-current assets
	Total of other non-current assets	100.56
	Total non-current assets	2311.75
2	Current assets
	Inventories	1061.27
	Current financial asset
	Current investments	0
	Trade receivables, current	3477.06
	Cash and cash equivalents	229.12
	Bank balance other than cash and cash equivalents	5490.6
	Loans, current	163.86
	Other current financial assets
1	Other current financial assets	3084.04
2
3
4
5
	Details of other current financial assets
	Total of Other current financial assets	3084.04
	Total current financial assets	12444.68
	Current tax assets (net)
	Other current assets
1	Other current assets	1062.33
2
3
4
5
	Details of other current assets
	Total of other current assets	1062.33
	Total current assets	14568.28
3	Non-current assets classified as held for sale
4	Regulatory deferral account debit balances and related deferred tax Assets
	Total assets	16880.03
	Equity and liabilities
1	Equity
	Equity attributable to owners of parent
	Equity share capital	433.36
	Other equity	8044.61
	Total equity attributable to owners of parent	8477.97
	Non controlling interest
	Total equity	8477.97
2	Liabilities
	Non-current liabilities
	Non-current financial liabilities
	Borrowings, non-current	647.8
	Trade Payables, non-current
	(A) Total outstanding dues of micro enterprises and small enterprises
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises
	Total Trade payable
	Other non-current financial liabilities
1
2
3
4
5
	Details of other non-current financial liabilities
	Total of other non-current financial liabilities
	Total non-current financial liabilities	647.8
	Provisions, non-current	13.36
	Deferred tax liabilities (net)
	Deferred government grants, Non-current
	Other non-current liabilities
1
2
3
4
5
	Details of other non-current liabilities
	Total of other non-current liabilities
	Total non-current liabilities	661.16
	Current liabilities
	Current financial liabilities
	Borrowings, current	1906.79
	Trade Payables, current
	(A) Total outstanding dues of micro enterprises and small enterprises	427.7
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	4024.62
	Total Trade payable	4452.32
	Other current financial liabilities
1	Other current financial liabilities	137.29
2
3
4
5
	Details of other current financial liabilities
	Total of other current financial liabilities	137.29
	Total current financial liabilities	6496.4
	Other current liabilities
1	Other current liabilities	1240.71
2
3
4
5
	Details of other current liabilities
	Total of other current liabilities	1240.71
	Provisions, current	3.79
	Current tax liabilities (Net)
	Deferred government grants, Current
	Total current liabilities	7740.9
3	Liabilities directly associated with assets in disposal group classified as held for sale
4	Regulatory deferral account credit balances and related deferred tax liability
	Total liabilities	8402.06
	Total equity and liabilities	16880.03
	Disclosure of notes on assets and liabilities

Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars		3 months/ 6 month ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period		01-01-2026	01-04-2025
Date of end of reporting period		31-03-2026	31-03-2026
Whether results are audited or unaudited		Audited	Audited
Nature of report standalone or consolidated		Consolidated	Consolidated
1	Segment Revenue (Income)
	(net sale/income from each segment should be disclosed)
1	(a) Engineering, procurement and construction (EPC) contracts	5115	12020.05
2	(b) Manufacturing	810.8	1759.75
	Total Segment Revenue	5925.8	13779.8
	Less: Inter segment revenue	7.68	18.24
	Revenue from operations	5918.12	13761.56
2	Segment Result
	Profit (+) / Loss (-) before tax and interest from each segment
1	(a) Engineering, procurement and construction (EPC) contracts	670.26	1780.05
2	(b) Manufacturing	-26.5	-152.13
	Total Profit before tax	643.76	1627.92
	i. Finance cost
	ii. Other Unallocable Expenditure net off Unallocable income	-3.87	17.4
	Profit before tax	647.63	1610.52
3	(Segment Asset - Segment Liabilities)
	Segment Asset
1	(a) Engineering, procurement and construction (EPC) contracts	14728.74	14728.74
2	(b) Manufacturing	3924.59	3924.59
	Total Segment Asset	18653.33	18653.33
	Un-allocable Assets	-1773.3	-1773.3
	Net Segment Asset	16880.03	16880.03
4	Segment Liabilities
	Segment Liabilities
1	(a) Engineering, procurement and construction (EPC) contracts	6164.6	6164.6
2	(b) Manufacturing	4067.08	4067.08
	Total Segment Liabilities	10231.68	10231.68
	Un-allocable Liabilities	-1829.62	-1829.62
	Net Segment Liabilities	8402.06	8402.06
	Disclosure of notes on segments	Textual Information(1)

Text Block
Textual Information(1)	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.

Other Comprehensive Income
Date of start of reporting period		01-01-2026	01-04-2025
Date of end of reporting period		31-03-2026	31-03-2026
Whether results are audited or unaudited		Audited	Audited
Nature of report standalone or consolidated		Consolidated	Consolidated
	Other comprehensive income [Abstract]
1	Amount of items that will not be reclassified to profit and loss
1	Re-measurement of defined benefit plans	6.16	2.03
2	Income tax relsting to these items	-1.55	-0.51
	Total Amount of items that will not be reclassified to profit and loss	4.61	1.52
2	Income tax relating to items that will not be reclassified to profit or loss	0.00	0.00
3	Amount of items that will be reclassified to profit and loss
	Total Amount of items that will be reclassified to profit and loss
4	Income tax relating to items that will be reclassified to profit or loss
5	Total Other comprehensive income	4.61	1.52

Cash flow statement, indirect
Particulars		Year ended (dd-mm-yyyy)
Date of start of reporting period		01-04-2025
Date of end of reporting period		31-03-2026
Whether results are audited or unaudited		Audited
Nature of report standalone or consolidated		Consolidated
Part I	Blue color marked fields are non-mandatory.
1	Statement of cash flows
	Cash flows from used in operating activities
	Profit before tax	1620.32
2	Adjustments for reconcile profit (loss)
	Adjustments for finance costs	206.53
	Adjustments for decrease (increase) in inventories	-1040.84
	Adjustments for decrease (increase) in trade receivables, current	-1890.49
	Adjustments for decrease (increase) in trade receivables, non-current	0
	Adjustments for decrease (increase) in other current assets	-531.21
	Adjustments for decrease (increase) in other non-current assets	0
	Adjustments for other financial assets, non-current	0
	Adjustments for other financial assets, current	-2213.6
	Adjustments for other bank balances	0
	Adjustments for increase (decrease) in trade payables, current	3827.01
	Adjustments for increase (decrease) in trade payables, non-current	0
	Adjustments for increase (decrease) in other current liabilities	287.06
	Adjustments for increase (decrease) in other non-current liabilities	0
	Adjustments for depreciation and amortisation expense	52.41
	Adjustments for impairment loss reversal of impairment loss recognised in profit or loss	0
	Adjustments for provisions, current	-16.49
	Adjustments for provisions, non-current	5.19
	Adjustments for other financial liabilities, current	18.52
	Adjustments for other financial liabilities, non-current	0
	Adjustments for unrealised foreign exchange losses gains	0.3
	Adjustments for dividend income	0
	Adjustments for interest income	225
	Adjustments for share-based payments	7.93
	Adjustments for fair value losses (gains)	0
	Adjustments for undistributed profits of associates	0
	Other adjustments for which cash effects are investing or financing cash flow	0
	Other adjustments to reconcile profit (loss)	0
	Other adjustments for non-cash items	-144.15
	Share of profit and loss from partnership firm or association of persons or limited liability partnerships	0
	Total adjustments for reconcile profit (loss)	-1656.83
	Net cash flows from (used in) operations	-36.51
	Dividends received	0
	Interest paid	0
	Interest received	0
	Income taxes paid (refund)	448.24
	Other inflows (outflows) of cash	0
	Net cash flows from (used in) operating activities	-484.75
3	Cash flows from used in investing activities
	Cash flows from losing control of subsidiaries or other businesses	0
	Cash flows used in obtaining control of subsidiaries or other businesses	0
	Other cash receipts from sales of equity or debt instruments of other entities	0
	Other cash payments to acquire equity or debt instruments of other entities	0
	Other cash receipts from sales of interests in joint ventures	-0.5
	Other cash payments to acquire interests in joint ventures	0
	Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships	0
	Cash payment for investment in partnership firm or association of persons or limited liability partnerships	0
	Proceeds from sales of property, plant and equipment	0.98
	Purchase of property, plant and equipment	597.14
	Proceeds from sales of investment property	0
	Purchase of investment property	0
	Proceeds from sales of intangible assets	0
	Purchase of intangible assets	0
	Proceeds from sales of intangible assets under development	0
	Purchase of intangible assets under development	0
	Proceeds from sales of goodwill	0
	Purchase of goodwill	0
	Proceeds from biological assets other than bearer plants	0
	Purchase of biological assets other than bearer plants	0
	Proceeds from government grants	0
	Proceeds from sales of other long-term assets	1148.74
	Purchase of other long-term assets	5533.01
	Cash advances and loans made to other parties	37.95
	Cash receipts from repayment of advances and loans made to other parties	100
	Cash payments for future contracts, forward contracts, option contracts and swap contracts	0
	Cash receipts from future contracts, forward contracts, option contracts and swap contracts	0
	Dividends received	0
	Interest received	146.26
	Income taxes paid (refund)	0
	Other inflows (outflows) of cash	0
	Net cash flows from (used in) investing activities	-4772.62
4	Cash flows from used in financing activities
	Proceeds from changes in ownership interests in subsidiaries	0
	Payments from changes in ownership interests in subsidiaries	0
	Proceeds from issuing shares	4399.99
	Proceeds from issuing other equity instruments	0
	Payments to acquire or redeem entity's shares	0
	Payments of other equity instruments	0
	Proceeds from exercise of stock options	0
	Proceeds from issuing debentures notes bonds etc	0
	Proceeds from borrowings	1398.87
	Repayments of borrowings	23.36
	Payments of lease liabilities	0
	Dividends paid	0
	Interest paid	173
	Income taxes paid (refund)	0
	Other inflows (outflows) of cash	-226.88
	Net cash flows from (used in) financing activities	5375.62
	Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes	118.25
5	Effect of exchange rate changes on cash and cash equivalents
	Effect of exchange rate changes on cash and cash equivalents	0
	Net increase (decrease) in cash and cash equivalents	118.25
	Cash and cash equivalents cash flow statement at beginning of period	110.87
	Cash and cash equivalents cash flow statement at end of period	229.12

Details of Impact of Audit Qualification
Whether results are audited or unaudited		Audited
Declaration of unmodified opinion or statement on impact of audit qualification		Declaration of unmodified opinion
Auditor's opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Consolidated results		Yes
	Audit firm's name	Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI	Certificate valid upto
1	S S KOTHARI MEHTA & CO. LLP	Yes	31-08-2028
2	DARPN & COMPANY	Yes	31-08-2028

General information about company

Financial Results – Ind-AS

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Statement of Asset and Liabilities

Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results

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Other Comprehensive Income

Cash flow statement, indirect

Details of Impact of Audit Qualification