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Ujaas Energy Ltd
| Standalone Audited Financial Results for the Quarter and Year Ended March 31, 2026
Summary : Ujaas Energy Limited reported qualified financial results for FY26 due to unconfirmed receivables and interest income discrepancies, despite NCLT resolution and capital raising plans.
Quarterly Report Analysis & Insights
Financial Disclosures
- Cost of materials consumed: Rs. 511.94 Lakhs (FY26)
- Employee benefits expense: Rs. 348.13 Lakhs (FY26)
- Finance costs: Rs. 15.40 Lakhs (FY26)
- Depreciation and amortisation expense: Rs. 48.13 Lakhs (FY26)
- Other expenses: Rs. 1,195.41 Lakhs (FY26)
- Trade receivables of Rs. 2855.44 Lakhs unconfirmed
- Revenue from operations: Rs. 1,663.85 Lakhs (FY26)
- Other income: Rs. 938.35 Lakhs (FY26)
- Solar Power Plant Operation: Rs. 1,707.04 Lakhs (FY26)
- Manufacturing and sale of Solar Power Systems: Rs. 573.45 Lakhs (FY26)
- EV: Rs. 27.87 Lakhs (FY26)
- Net Cash from Operating Activities: Rs. 437.58 Lakhs (FY26)
- Net Cash from Investing Activities: (Rs. 402.15) Lakhs (FY26)
- Net Cash from Financing Activities: (Rs. 15.40) Lakhs (FY26)
- Net Increase in Cash & Cash Equivalents: Rs. 20.03 Lakhs (FY26)
- Total Assets: Rs. 11,710.48 Lakhs (FY26)
- Total Equity: Rs. 8,866.54 Lakhs (FY26)
- Total Liabilities: Rs. 2,843.94 Lakhs (FY26)
- Equity Share Capital: Rs. 1,333.98 Lakhs (FY26)
- Current Borrowings: Rs. 2,400.00 Lakhs (FY26)
- Trade Receivables: Rs. 2,219.47 Lakhs (FY26)
- Standalone Audited Financial Results
Corporate Overview
- Indore, Madhya Pradesh, India
- Significant audit qualifications on financial statements
- Unconfirmed trade receivables
- Discrepancy in accrued interest income
- Solar Power Plant Operation
- Manufacturing and sale of Solar Power Systems
- Factual and formal reporting of board meeting outcomes and financial results
- Solar Power Plant Operation
- Manufacturing and sale of Solar Power Systems
- Un-allocable Income
- 15 MW solar power plant from Hindustan Aeronautics Limited, Nashik
- Preferential issue and allotment of 1,275.70 Lakhs equity shares
- Issue of 2,400 Lakhs equity shares against convertible RA loan
Risk Factors
- Qualified audit opinion on financials.
- Unconfirmed trade receivables significant.
- Interest income difference with bank.
- Possible adjustments to unconfirmed trade receivables.
Key Drivers
- NCLT approved resolution plan.
- Preferential equity issue for cash.
- Bad debts recovered, arbitration award.
- Management Committee reconstituted for governance.
Auditor’s Report
- Qualified Opinion
- Trade receivables lack external confirmation (Rs. 2855.44 Lakhs)
- Difference in accrued interest income on Fixed Deposits (Rs. 80.21 Lakhs)
Board Commentary
- Reconstitution of the Management Committee
- Audit qualification on trade receivables (Rs. 2855.44 Lakhs)
- Audit qualification on accrued interest income difference (Rs. 80.21 Lakhs)
- NCLT approved Resolution Plan for the Company
- Compliance with SEBI Listing Regulations
- Preferential issue of equity shares for cash consideration
- Issue of equity shares against convertible RA loan
Corporate Governance
- Auditors comply with Code of Ethics
- Management Committee includes an Independent Director
- Reconstitution of Management Committee approved
- Management Committee powers defined
- Audit qualifications on financial reporting accuracy
Management Discussion & Analysis
Critical Risks
- Audit qualifications on financial reporting
- Unconfirmed trade receivables
- Discrepancy in accrued interest income