Citizen Solar revenue jumps to ₹310.92 cr after merger integration
The company nearly doubled its net profit to ₹22.43 crore in FY2026 following the NCLT-approved amalgamation of its subsidiary.
— 1 earlier story on Citizen Solar Ltd. →What's new
- Revenue rose to ₹310.92 crore from ₹185.69 crore in the previous fiscal year.
- Net profit nearly doubled to ₹22.43 crore.
- Director Ravindra Jain resigned as the board added five new members, including three from the promoter family.
Why this matters
The financial growth is a direct result of the NCLT-sanctioned merger with Citizen Solar Private Ltd. The board overhaul, which brings more promoter family members into the fold, warrants attention as the company scales.
What we're watching
- Whether the new board composition changes the company's capital allocation strategy.
- Sustained margin performance following the integration of the subsidiary.
- Any further changes to the board structure.
The full read
Citizen Solar reported ₹310.92 crore in revenue for FY2026, a sharp increase from the ₹185.69 crore recorded in the previous fiscal year. Net profit followed a similar trajectory, nearly doubling to ₹22.43 crore. These figures reflect the first full integration of Citizen Solar Private Ltd. after the NCLT approved the amalgamation earlier this year.
Board changes followed.
Director Ravindra Jain resigned, and the company appointed five new directors, three of whom are from the promoter family. The shift in board composition, combined with the scale of the merger, marks a new chapter for the nano-cap firm. The next test is whether the company can maintain these margins now that the subsidiary is fully integrated.
Questions answered
- What drove the revenue increase for Citizen Solar in FY2026?
- The growth reflects the integration of Citizen Solar Private Ltd. following its NCLT-approved amalgamation with the company earlier this year.
- How did the company's profitability change?
- Net profit nearly doubled, reaching ₹22.43 crore for the fiscal year ended March 31, 2026.
- What changes occurred on the board of directors?
- Director Ravindra Jain resigned, and the company appointed five new directors. Three of these new appointees are members of the promoter family.
- Is this a standard earnings report?
- Yes, the filing covers audited annual financial results for FY2026, though it also includes significant board restructuring alongside the financial data.
Story so far
All notes on CIL →- 29 May 2026 · 12:11 AM IST Citizen Solar revenue jumps to ₹310.92 cr after merger integration
- today Citizen Solar profit jumps 93% as board reshuffle brings in family