Onix Solar Q1 profit leaps 20x to ₹20.83 cr
Standalone net profit of ₹20.83 cr compared to ₹1.01 cr a year ago. Board also okays new corporate office and appoints independent director.
— 5 earlier stories on Onix Solar Energy Ltd. →What's new
- Q1 standalone PAT jumps to ₹20.83 cr from ₹1.01 cr YoY.
- Consolidated profit at ₹20.90 cr.
- Board appoints Hitesh Kantilal Bhansali as independent director for 5 years.
Why this matters
Profit growth of 20x in one quarter is rare even for a high-growth metal company. The Q1 number already approaches the ₹26 cr PAT reported in the full Mar 2026 quarter, suggesting momentum is accelerating. The profit surge comes weeks after a non-promoter sold ₹85 cr of shares, a divergence that will test whether earnings can sustain.
What we're watching
- Whether Q2 can maintain or improve this run rate.
- Any management commentary on revenue drivers behind the profit jump.
- Follow-up share sales by promoters or non-promoters.
The full read
Onix Solar Energy's Q1 numbers eclipse the prior year by a mile. Standalone net profit of ₹20.83 crore against ₹1.01 crore, a 20x jump that already brushes against the ₹26 crore PAT from the full March quarter. The consolidated figure is ₹20.90 crore. The rest of the board meeting is procedural: a new corporate office at Rajkot, an independent director appointment, committee reshuffles. The numbers give shareholders a lot to cheer, but the context matters. Just 9 days ago, a non-promoter unloaded ₹85 crore of stock. That selling now looks poorly timed. The open question is whether this profit spike is a one-off or the start of a sustained run.
Questions answered
- How much did Onix Solar's profit grow in Q1 FY27?
- Standalone net profit rose to ₹20.83 crore from ₹1.01 crore in the same quarter last year, a more than 20-fold increase.
- What other decisions did the board make?
- The board approved a new corporate office at Lodhika GIDC, Rajkot, appointed Hitesh Kantilal Bhansali as an independent director for five years (subject to shareholder nod), and reconstituted the audit, nomination, and stakeholders' committees.
- How does this compare to the previous quarter?
- The Q1 PAT of ₹20.83 cr is close to the ₹26 cr reported for the full Mar 2026 quarter, indicating strong sequential momentum.
- Why is the profit jump noteworthy given recent insider selling?
- A non-promoter sold ₹85 crore of shares on July 6, reducing stake to 13.76%. The profit surge suggests the seller may have exited too early, but it also raises questions about sustainability.
Onix Solar Energy Ltd.
Latest quarter · Jun 2026
Strength & growth
Story so far
All notes on ONIXSOLAR →- 15 Jul 2026 · 5:59 PM IST Onix Solar Q1 profit leaps 20x to ₹20.83 cr
- 13d ago Onix Solar Q1 profit jumps 20x to ₹20.83 cr
- 13d ago Onix Solar board okays Q1 results, sets up Rajkot office
- 19d ago Onix Solar board to meet July 15 for Q1 results
- 22d ago Onix Solar non-promoter sells ₹85 cr of shares, cuts stake to 13.76%