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AHASOLAR TECHNOLOGIES LIMITED Audit Report / Information 2026
62999_rns_2026-05-28_9a412452-0dbd-413e-9545-625be539425a.pdf
Audit Report / Information
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AHASOLAR TECHNOLOGIES LIMITED
(Formerly AHA Solar Technologies Private Limited)
Registered Address: Office No. 207, 2nd Floor Kalasagar
Shopping Hub, Opp. Saibaba Temple
Sattadhar Cross Road, Ghatlodiya
Ahmedabad - 380 061, Gujarat, INDIA
☎ : +91-79 4039 4029
🌐 : www.ahasolar.in
ahasolar
ENERGY
CONSULTANCY
SOLAR SOFTWARE
NET ZERO ADVISORY
SOLAR MARKETPLACE
AHASOLAR/2026-27/11
Date: 28th May, 2026
To,
BSE Limited
Phiroze Jeejeebhoy Towers,
Dalal Street,
Mumbai-400 001,
MH,IN.
Scrip Code: 543941
Subject:- Outcome of Board Meeting Held on 28th May, 2026
Dear Sir/ Ma’am,
Pursuant to Regulations 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that the Board of Directors at their Board meeting held on today 28th May, 2026 inter alia, has transacted and approved the following:-
-
Audited Financial Results for the half year and financial year ended March 31, 2026 together with the Auditor’s Report thereon by the Statutory Auditor of the Company as per Regulation 33 of the SEBI (LODR) Regulations, 2015
-
Appointment of M/s. JHS & Associates LLP as Internal Auditor of the Company for the FY 2026-27
-
Appointment of M/s. Mukesh H Shah & Co. as Secretarial Auditor of the Company for the FY 2026-27;
-
Considered and approved all other businesses as per agenda circulated.
The brief profile of Secretarial and Internal Auditor appointed by listed entity is enclosed in “Annexure I.”
Please note that the said meeting was held at around 11:30 a.m. (IST) and concluded at around 01:15 p.m. (IST).
We hereby request you to take note of the same and update record of the Company accordingly.
Thanking you.
Yours faithfully,
For, AHAsolar Technologies Limited
PIYUSHKUMAR
VASANTLAL BHATT
Digitally signed by PIYUSHKUMAR
Date: 2026.05.28 13:28:04 +03'30'
Piyushkumar Vasantlal Bhatt
Chairman & Managing Director
DIN: 06461593
Encl.: As Above
AHASOLAR TECHNOLOGIES LIMITED
(Formerly AHA Solar Technologies Private Limited)
Registered Address: Office No. 207, 2nd Floor Kalasagar
Shopping Hub, Opp. Saibaba Temple
Sattadhar Cross Road, Ghatlodiya
Ahmedabad - 380 061, Gujarat, INDIA
: +91-79 4039 4029
: www.ahasolar.in
ahasolar
ENERGY
CONSULTANCY
SOLAR SOFTWARE
NET ZERO ADVISORY
SOLAR MARKETPLACE
Annexure-I
Brief Profile of M/s Mukesh H. Shah & Co., Secretarial Auditor
M/s Mukesh H. Shah & Co., Company Secretary, Ahmedabad is a Sole Proprietorship Firm of Mr. Mukesh Himatlal Shah, Company Secretary [M.NO.:-5827] having an experience of more than 26 year in the field of Corporate Laws, Foreign Exchange Management Act (FEMA), Securities Law, Foreign Contribution Regulation Act(FCRA) and appearing before Securities and Exchange Board of India (SEBI), Security Appellate Tribunal(SAT), Stock Exchange, NCLT, RD, ROC etc. The firm has well qualified and experienced team. The Secretarial Auditor is registered with the Institute of Company Secretaries of India, with CoP No.:-2213. The Firm is also holding Peer Review Certificate.
Brief Profile of M/s. JHS & Associates LLP, Internal Auditor
JHS was established on 28th February, 1981, with a legacy spanning 44 years. The firm combines the experience of 32 leaders with a dynamic team of 600+ professionals, ready to innovate and conduct business. JHS is a fully integrated, multi-location professional services firm, representing the aspirations of an emerging India.
With 13+ offices across India, JHS offers Assurance, Taxation, Consulting, and Outsourced Accounting services. Our team provides trusted business advisory to clients, ranging from established firms to startups, with experience across diverse service domains and sectors.
JHS is committed to fostering a diverse work environment, with over 45% of our workforce being women. We prioritize social and client interests by maintaining the highest standards of independence, honesty, and integrity. Our focus is on consistently enhancing service quality, and we value our clients' time by delivering projects promptly
JHS is a cutting-edge firm leveraging advanced tools like CAAT-IDEA, SQL, Excel-VBA, RPA, and BI Tools to enhance audit and data analysis processes. Through our Centre of Excellence (COE) model, we provide value-added services by integrating product and sector expertise. Our COE leaders specialize in key service verticals, including Statutory Audit, Internal Audit, Direct Taxation & GST, Forensics, and Management Consulting & Advisory.
CA
INDIA
Ambalal Patel & Co LLP
CHARTERED ACCOUNTANTS
LLPIN : ACN - 0930
Head Office : 1st Floor,
Sapphire Business Center,
Above SBI Vadaj Branch, Usmanpura,
Ashram Road, Ahmedabad - 380 013.
Phone : 079-3533 8368 - 69 -70
E-mail : [email protected]
Website : www.apcca.com
Branch Office : Unjha & Jamnagar
Independent Audit Report on Audited Standalone Financial Results of Ahasolar Technologies Limited for the half year ended 31st March 2026
Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended
To,
The Board of Directors of,
Ahasolar Technologies Limited
Opinion
We have audited the accompanying statement of Audited Standalone financial results of Ahasolar Technologies Limited for the period ended on March 31, 2026. This statement is the responsibility of the Company’s Management and approved by the Board of Directors, has been prepared in accordance with rules issued there under and other accounting principles generally accepted in India and in compliance with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements)Regulations, 2015 (‘Listing Regulations’).
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone annual financial results:
a) are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
b) give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Accounting Standards, and other accounting principles generally accepted in India, of the net profit and other financial information for the year ended 31 March 2026.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (“SAs”) specified under section 143(10) of the Companies Act, 2013 (‘the Act’). Our responsibilities under those SAs are further described in the Auditor’s Responsibilities for the Audit of the Standalone Annual Financial Results section
of our report. We are independent of the Company, in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us, is sufficient and appropriate to provide a basis for our opinion on the standalone annual financial results.
Emphasis of Matter
We draw attention to the fact that, during the period under review, the Company has transferred its significant trading-of-goods operations to its subsidiary. As a result of this, the turnover reported for the period is lower, since revenue from trading activities is majorly no longer recorded in the Company’s standalone financial information. Management has represented that, notwithstanding the change in the revenue profile, the overall profitability remains broadly in line with the corresponding period of the previous year. Our conclusion is not modified in respect of this matter.
Management’s and Board of Director’s Responsibility for the Standalone Financial Statements
These standalone annual financial results have been prepared on the basis of the standalone annual financial statements.
The Company’s Management and the Board of Directors are responsible for the preparation and presentation of these standalone annual financial results that give a true and fair view of the net profit/ loss and other financial information in accordance with the recognition and measurement principles laid down in accounting standards prescribed under Section 133 of the Act and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and
completeness of the accounting records, relevant to the preparation and presentation of the standalone annual financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the standalone annual financial results, the Management and the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
The Board of Directors is/are responsible for overseeing the Company's financial reporting process
Auditor's Responsibilities for the Audit of the Standalone Annual Financial Results
Our objectives are to obtain reasonable assurance about whether the standalone annual financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone annual financial results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the standalone annual financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
-
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of financial statements on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
-
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the standalone annual financial results made by the Management and Board of Directors.
-
Conclude on the appropriateness of the Management's and Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the appropriateness of this assumption. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report other related disclosures in the standalone annual financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
-
Evaluate the overall presentation, structure and content of the standalone annual financial results, including the disclosures, and whether the standalone annual financial results represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
Other Matter
The standalone annual financial results include the results for the half year ended 31 March 2026 being the balancing figure between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the 1st half of the current financial year which were subject to limited review by us.
Conclusion
Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with applicable accounting standards and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.
For, Ambalal Patel & Co LLP
Chartered Accountants
Firm Reg. No. : 100305W/W101093
NABhava
CA Nilay R Bhavsar
Designated Partner
M.No. 137932
UDIN:26137932VRPMUV3215
Place: Ahmedabad
Date: 28/05/2026
ahasolar DIGITALIZING SOLAR
AHASOLAR
TECHNOLOGIES LIMITED
CIN: L74999GJ2017PLC098479
ENERGY CONSULTANCY | SOLAR SOFTWARE | NET ZERO ADVISORY | SOLAR MARKETPLACE
Listed on 355 me
Ahasolar Technologies Limited (Formerly known as Ahasolar Private Limited)
CIN: L74999GJ2017PLC098479
Standalone Statement of Audited Financial Results for the year ended 31st March, 2026
(Rs. In Lakhs)
| S. No | Particulars | For the Six Month Ended | For the Year ended | For the Year ended | ||
|---|---|---|---|---|---|---|
| 31-Mar-26 | 30-Sep-25 | 31-Mar-25 | 31-Mar-26 | 31-Mar-25 | ||
| (Audited) | (Unaudited) | (Audited) | (Audited) | (Audited) | ||
| 1. | Income from Operations | |||||
| (a) Net Sales | 682.21 | 373.54 | 1,570.49 | 1,055.75 | 3,856.80 | |
| (b) Other Operating Income | 17.43 | 25.55 | 21.97 | 42.98 | 42.94 | |
| Total income from Operations (net) | 699.64 | 399.09 | 1,592.46 | 1,098.73 | 3,899.74 | |
| 2. | Expenses | |||||
| (a) Purchase of stock in trade | 176.44 | 0.00 | 862.30 | 176.44 | 2,854.35 | |
| (b) Changes in inventories of finished goods work-in-progress and Stock in Trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| (c) Employee benefits expense | 334.62 | 256.55 | 369.22 | 591.17 | 741.55 | |
| (d) Depreciation and amortization expense | 8.06 | 25.70 | 19.69 | 33.76 | 37.60 | |
| (e) Other expenses | 140.79 | 151.74 | 176.50 | 292.53 | 411.97 | |
| Total expenses | 659.91 | 433.99 | 1,427.71 | 1,093.90 | 4,045.48 | |
| 3. | Profit/(Loss) from operations before other income, finance costs and exceptional items (1-2) | 39.73 | (34.90) | 164.76 | 4.83 | (145.74) |
| 4. | Other Income | 4.69 | 23.69 | 23.61 | 28.38 | 49.28 |
| 5. | Profit/(Loss) from ordinary activities before finance costs and exceptional items(3 + 4) | 44.42 | (11.21) | 188.37 | 33.21 | (96.46) |
| 6. | Finance Costs | 0.97 | 3.82 | 4.99 | 4.79 | 8.06 |
| 7. | Profit/(Loss) from ordinary activities after finance costs but before exceptional items (5 + 6) | 43.45 | (15.03) | 183.39 | 28.42 | (104.52) |
| 8. | Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 9. | Profit/(Loss) from ordinary activities before tax (7 + 8) | 43.45 | (15.03) | 183.39 | 28.42 | (104.52) |
| 10. | Tax expense/(Income) | 13.79 | (2.20) | (2.93) | 11.59 | (2.93) |
| Total tax expense | 13.79 | (2.20) | (2.93) | 11.59 | (2.93) | |
| 11. | Net Profit/(Loss) from ordinary activities after tax (9 + 10) | 29.66 | (12.83) | 186.32 | 16.83 | (101.59) |
| 12. | Extraordinary items (net of tax expense) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 13. | Net Profit/(Loss) for the period(11 + 12) | 29.66 | (12.83) | 186.32 | 16.83 | (101.59) |
| 14. | Paid-up equity share capital (face value of Rs 10 per share) | 308.23 | 308.23 | 308.23 | 308.23 | 308.23 |
| 15. | Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year | 1,162.82 | 976.52 | 1,264.42 | 1,162.82 | 1,264.42 |
| 16. | Earnings Per Share (of 10/- each) (not annualised): | |||||
| (a) Basic | 0.96 | (0.45) | 6.55 | 0.55 | (3.57) | |
| (b) Diluted | 0.96 | (0.45) | 6.55 | 0.55 | (3.57) | |
| See accompanying note to the Financial Results |
Notes:
i) The above standalone financial results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors of the company at its meeting held on 28th May 2026.
ii) The figure for the half year ended March 31, 2026 are the balancing figure between the audited figures in respect of the full financial year and the unaudited figures of the half year ended September 30, 2025.
Date: 28th May 2026
Place: Ahmedabad
For AHAsolar Technologies Limited
Piyu ahumar Vasantlai Bhatt
Chairman & Managing Director
DIN: 06461593
207, Kalasagar Mall, Ghatlodia, Ahmedabad, 380061, Gujarat, INDIA
@ [email protected]
www.ahasolar.in
+91-79 4039 4029
ahasolar DIGITALIZING SOLAR
AHASOLAR
TECHNOLOGIES LIMITED
CIN: L74999GJ2017PLC098479
Listed on aSEA me
ENERGY CONSULTANCY | SOLAR SOFTWARE | NET ZERO ADVISORY | SOLAR MARKETPLACE
| Ahasolar Technologies Limited (Formerly known as Ahasolar Private Limited) | ||
|---|---|---|
| CIN: L74999GJ2017PLC098479 | ||
| Standalone Statement of Assets and Liabilities as on 31st March, 2026 | ||
| (Rs. in Lakhs) | ||
| Particulars | Period Ended on | Year Ended on |
| March, 312026 | March, 312025 | |
| (Audited) | (Audited) | |
| A. EQUITY AND LIABILITIES | ||
| 1. Shareholders' fund | ||
| (a) Share capital | 308.23 | 308.23 |
| (b) Reserves and surplus | 1,179.65 | 1,162.83 |
| Sub-total - Shareholders' funds | 1,487.88 | 1,471.06 |
| 2. Non-current liabilities | ||
| (a) Long term borrowing | 3.98 | - |
| (b) Other Long Term Liabilities | - | - |
| (c) Long-term provisions | 49.48 | 43.80 |
| Sub-total - Non-current liabilities | 53.46 | 43.80 |
| 3. Current liabilities | ||
| (a) Short term borrowing | 2.37 | 71.22 |
| (b) Trade payable | - | - |
| - Due to Micro and Small Enterprises | 8.61 | 20.29 |
| - Due to Others | 58.58 | 41.77 |
| (c) Other current liabilities | 137.80 | 138.54 |
| (d) Short-term provisions | 15.70 | 35.12 |
| Sub-total - Current liabilities | 223.06 | 306.94 |
| TOTAL- EQUITY AND LIABILITIES | 1,764.40 | 1,821.80 |
| BASSETS | ||
| 1. Non-current assets | ||
| (a) Property, plant and equipment and intangible assets | ||
| i. Property, plant and equipment | 59.40 | 54.80 |
| ii. Intangible assets | 47.34 | 61.19 |
| iii. Intangible assets under development | 166.18 | 103.05 |
| (iv) Capital Work in Progress | 690.45 | 100.40 |
| (b) Non Current Investments | 1.00 | 1.00 |
| (c) Other Non Current Assets | 63.29 | 56.59 |
| (d) Deferred tax assets(net) | 16.62 | 16.62 |
| (d) Long term loan and advances | 1.89 | 13.47 |
| Sub-total - Non-current assets | 1,046.17 | 407.12 |
| 2. Current assets | ||
| (a) Inventories | 1.62 | 1.62 |
| (b) Trade receivables | 398.06 | 608.13 |
| (c) Cash and cash equivalents | 140.66 | 702.31 |
| (d) Short term loan & advances | 7.33 | 9.76 |
| (e) Other current assets | 170.56 | 92.86 |
| Sub-total - Current assets | 718.23 | 1,414.68 |
| TOTAL - ASSETS | 1,764.40 | 1,821.80 |
| Notes: | ||
| i) This Statement has been prepared with in accordance with Indian GAAP (Generally Accepted Accounting Practices). | ||
| ii) Previous period figures have been restated for prior period adjustment and regrouped/reclassified wherever necessary to make them comparable with current period figure. |
Date: 28th May 2026
Place : Ahmedabad
For AHAsolar Technologies Limited
Pirushkumar Vasantial Bhatt
Chairman & Managing Director
DIN : 06461593
207, Kalasagar Mall, Ghatlodia, Ahmedabad, 380061, Gujarat, INDIA @ [email protected] @ www.ahasolar.in +91-79 4039 4029
ahasolar DIGITALIZING SOLAR
AHASOLAR
TECHNOLOGIES LIMITED
CIN: L74999GJ2017PLC098479
ENERGY CONSULTANCY | SOLAR SOFTWARE | NET ZERO ADVISORY | SOLAR MARKETPLACE
Listed on
SSE
SME
| Ahasolar Technologies Limited (Formerly known as Ahasolar Private Limited) | ||
|---|---|---|
| CIN: L74999GJ2017PLC098479 | ||
| Standalone Cash Flow Statement for the period ended March 31, 2026 | ||
| (Rs. in Lakhs) | ||
| Particulars | Year ended March 31, 2026 | Year ended March 31, 2025 |
| (Audited) | (Audited) | |
| A. Cash flow from operating activities | ||
| Profit/(Loss) Before Tax as per Statement of Profit and Loss | 28.42 | (104.51) |
| Adjustments for: | ||
| Depreciation and amortization expenses | 33.76 | 37.60 |
| Interest income | (18.05) | (51.07) |
| Finance costs | 4.79 | 8.06 |
| Operating profit/(loss) before working capital changes | 48.92 | (109.92) |
| Adjustments for: | ||
| Inventories | 0.00 | 0.00 |
| Trade receivables | 210.07 | (157.13) |
| Other current assets | (60.06) | (3.85) |
| Loans and advances | 2.43 | 4.40 |
| Other current liabilities & Provisions | (9.35) | 109.36 |
| 143.10 | (47.22) | |
| Less: Tax paid(Net) | (17.66) | (26.79) |
| Net Cash Flows Generated From Operating Activities (A) | 174.35 | (183.93) |
| B. Cash flow from Investing activities | ||
| Purchase of property, plant and equipment | (677.68) | (164.78) |
| Investments in : | ||
| Bank FDs with original maturity of more than 12 months | (4.76) | 518.08 |
| Bank FDs with original maturity of 3 to 12 months | 260.52 | (188.40) |
| Investments in Subsidiary | 0.00 | (1.00) |
| Interest received | 20.28 | 43.26 |
| Net Cash (Used In) Investing Activities (B) | (401.63) | 207.17 |
| C. Cash flow from financing activities | ||
| Proceeds from Issue of Equity Shares (net of issue expenses) | 0.00 | 0.00 |
| Proceeds from availment of Cash credit | (68.85) | 71.22 |
| Proceeds from availment of Vehicle loan | 3.98 | - |
| Interest paid | (4.79) | (8.06) |
| Net Cash (Used In) Financing Activities (C) | (69.66) | 63.16 |
| Net Increase/(Decrease) In Cash And Bank Balances (A+B+C) | (296.95) | 86.39 |
| Add: Cash And Cash Equivalents at Beginning of the Year | 380.08 | 293.68 |
| Cash And Cash Equivalents At End Of The Year | 83.13 | 380.06 |
| Cash And Cash Equivalents as per Cash flow statement | 83.13 | 380.08 |
| (i) In Fixed Deposit with maturity more than 3 Month | 57.53 | 322.23 |
| Cash And Cash Equivalents as per Balance Sheet | 140.66 | 702.31 |
| Note: 1 The above cash flow statement has been prepared under the "Indirect Method" as set out in the Accounting Standard - 3 on Cash Flow Statements specified under Section 133 of the Companies Act, 2013. |
Date : 28th May 2026
Place : Ahmedabad
For AHAsolar Technologies Limited
Pirudhkumar Vasantlal Bhatt
Chairman & Managing Director
DIN : 06461593
207, Kalasagar Mall, Ghatlodia, Ahmedabad, 380061, Gujarat, INDIA @ [email protected] @ www.ahasolar.in @ +91-79 4039 4029
CA INDIA
Ambalal Patel & Co LLP
CHARTERED ACCOUNTANTS
LLPIN : ACN - 0930
Head Office : 1st Floor, Sapphire Business Center, Above SBI Vadaj Branch, Usmanpura, Ashram Road, Ahmedabad - 380 013.
Phone : 079-3533 8368-69-70 E-mail : [email protected] Website: www.apcca.com Branch Office : Unjha & Jamnagar
Independent Auditor's Review Report on Audited Consolidated Financial Results of Ahasolar Technologies Limited for the half year ended 31st March 2026 Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended
To,
The Board of Directors of,
Ahasolar Technologies Limited
Opinion
We have audited the accompanying Statement of Consolidated Financial Results of Ahasolar Technologies Limited ("Holding company") and its subsidiary (holding company and its subsidiary together referred to as "the Group"), for the half year ended on March 31, 2026 ("the Statement"), being submitted by the holding company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("LODR Regulations").
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid consolidated annual financial results:
- include the annual financial results of the entities mentioned in Annexure I to the aforesaid consolidated annual financial results
- are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
- give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Accounting Standards, and other accounting principles generally accepted in India, of consolidated net profit and other financial information of the Group for the year ended 31 March 2026.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under section 143(10) of the Companies Act, 2013 ('the Act'). Our responsibilities under those SAs are further described in the Auditor's Responsibilities for the Audit of the Consolidated Annual Financial Results section of our report. We are independent of the Group in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us, along with the consideration of reports of the other auditors referred to in sub paragraph (a) of the "Other Matters" paragraph below, is sufficient and appropriate to provide a basis for our opinion on the consolidated annual financial results.
Emphasis of Matter
We draw attention to the fact that, during the period under review, the Company has transferred its significant trading-of-goods operations to its subsidiary. As a result of this, the turnover reported for the period is lower, since revenue from trading activities is majorly no longer recorded in the Company's standalone financial information. Management has represented that, notwithstanding the change in the revenue profile, the overall profitability remains broadly in line with the corresponding period of the previous year. Our conclusion is not modified in respect of this matter.
Management's and Board of Director's Responsibility for the Consolidated Financial Statements
These consolidated annual financial results have been prepared on the basis of the consolidated annual financial statements.
The Holding Company's Management and the Board of Directors are responsible for the preparation and presentation of these consolidated annual financial results that give a true and fair view of the consolidated net profit/ loss and other financial information of the Group in accordance with the recognition and measurement principles laid down in Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing
ABC
Regulations. The respective Management and Board of Directors of the companies included in the Group are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of each company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the consolidated annual financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the consolidated annual financial results by the Management and the Board of Directors of the Holding Company, as aforesaid.
In preparing the consolidated annual financial results, the respective Management and the Board of Directors of the companies included in the Group are responsible for assessing the ability of each company to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.
The respective Board of Directors of the companies included in the Group is responsible for overseeing the financial reporting process of each company.
Auditor’s Responsibilities for the Audit of the Consolidated Annual Financial Results
Our objectives are to obtain reasonable assurance about whether the consolidated annual financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated annual financial results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the consolidated annual financial results, whether due to fraud or error, design and perform
audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of financial statements on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the consolidated annual financial results made by the Management and Board of Directors.
- Conclude on the appropriateness of the Management's and Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the appropriateness of this assumption. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the consolidated annual financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the consolidated annual financial results, including the disclosures, and whether the consolidated annual financial results represent the underlying transactions and events in a manner that achieves fair presentation.
- Obtain sufficient appropriate audit evidence regarding the financial statements/financial information of the entities within the Group to express an opinion on the consolidated annual financial results. We are responsible for the direction, supervision and performance of the audit of financial statements/financial information of such entities included in the consolidated
APL
annual financial results of which we are the independent auditors. For the other entities included in the consolidated annual financial results, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion. Our responsibilities in this regard are further described in Other | Matter paragraph in this audit report.
We communicate with those charged with governance of the Holding Company and such other entities included in the consolidated annual financial results of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
We also performed procedures in accordance with the circular No CIRICFD/CMD1/44/2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.
Other Matter
a) Consolidated Financials have been prepared on the basis of consolidating financials of following one Subsidiary company:
| Sr. No. | Name of Subsidiary | Country of Inc |
|---|---|---|
| 1 | RTC Energy Private Limited | India |
We have audited the financial statement of above mentioned Subsidiary company whose financial statements reflect total assets of Rs.308.77 Lacs as on 31st March 2026, total revenues from operations of Rs.8175.92 Lacs for the year ended on that date, as considered in the consolidated financial statements.
Our opinion on the consolidated annual financial results is not modified in respect of the above matter With respect to our reliance on the work done and the report of the other auditor.
b) The consolidated annual financial results include the results for the half year ended 31 March 2026 being the balancing figure between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the 1st half of the current financial year which were subject to limited review by us.
For Ambalal Patel & Co LLP
Chartered Accountants
Firm Reg. No. : 100305W/W101093
NRBhana
CA Nilay R Bhavsar
Designated Partner
M. No. 137932
UDIN:26137932RPQMSC1369
Place: Ahmedabad
Date: 28/05/2026
ahasolar DIGITALIZING SOLAR
AHASOLAR
TECHNOLOGIES LIMITED
CIN: L74999GJ2017PLC098479
ENERGY CONSULTANCY | SOLAR SOFTWARE | NET ZERO ADVISORY | SOLAR MARKETPLACE
Listed on 3SE5ME
Ahasolar Technologies Limited (Formerly known as Ahasolar Private Limited)
ONL74999GJ2017PLC098479
Consolidated Statement of Audited Financial Results for the year ended 31st March, 2026
(Rs. In Lakhs)
| S.No | Particulars | For the Six Month Ended | For the Year ended | For the Year ended | ||
|---|---|---|---|---|---|---|
| 31-Mar-26 | 30-Sep-25 | 31-Mar-26 | 31-Mar-26 | 31-Mar-25 | ||
| (Audited) | (Unaudited) | (Audited) | (Audited) | (Audited) | ||
| 1. | Income from Operations | |||||
| (a) Net Sales | 5,551.64 | 3,602.36 | 3,468.87 | 9,153.99 | 5,755.19 | |
| (b) Other Operating Income | 17.31 | 25.67 | 22.67 | 42.98 | 43.64 | |
| Total Income from Operations (net) | 5,568.94 | 3,628.03 | 3,491.55 | 9,196.97 | 5,798.83 | |
| 2. | Expenses | |||||
| (a) Purchase of stock in trade | 5,021.58 | 3,191.62 | 2,747.61 | 8,213.19 | 4,739.66 | |
| (b) Changes in inventories of finished goods work-in-progress and Stock in Trade | (21.04) | 0.50 | (0.50) | (20.54) | (0.50) | |
| (c) Employee benefits expense | 360.74 | 269.57 | 369.22 | 630.30 | 741.56 | |
| (d) Depreciation and amortization expense | 8.59 | 26.24 | 19.70 | 34.82 | 37.60 | |
| (e) Other expenses | 151.44 | 171.27 | 180.72 | 322.71 | 416.72 | |
| Total expenses | 5,521.30 | 3,659.20 | 3,316.81 | 9,180.49 | 5,935.05 | |
| 3. | Profit/(Loss) from operations before other income, finance costs and exceptional items (1-2) | 47.64 | (31.17) | 174.74 | 16.48 | (136.22) |
| 4. | Other income | 4.90 | 23.69 | 22.17 | 28.59 | 47.83 |
| 5. | Profit/(Loss) from ordinary activities before finance costs and exceptional items (3+4) | 52.54 | (7.48) | 196.92 | 45.07 | (88.38) |
| 6. | Finance Costs | 6.11 | 6.25 | 4.99 | 12.36 | 8.06 |
| 7. | Profit/(Loss) from ordinary activities after finance costs but before exceptional items (5+6) | 46.42 | (13.73) | 191.93 | 32.70 | (96.45) |
| 8. | Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 9. | Profit/(Loss) from ordinary activities before tax (7+8) | 46.42 | (13.73) | 192.83 | 32.70 | (96.45) |
| 10. | Tax expense/(Income) | 14.35 | (2.20) | (0.90) | 12.16 | (0.90) |
| Total tax expense | 14.35 | (2.20) | (0.90) | 12.16 | (0.90) | |
| 11. | Net Profit/(Loss) from ordinary activities after tax (9+10) | 32.07 | (11.53) | 192.83 | 20.54 | (95.55) |
| 12. | Extraordinary items (net of tax expense) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 13. | Net Profit/(Loss) for the period (11+12) | 32.07 | (11.53) | 192.83 | 20.54 | (95.55) |
| 14. | Paid-up equity share capital (face value of Rs 10 per share) | 308.23 | 308.23 | 308.23 | 308.23 | 308.23 |
| 15. | Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year | 1,168.86 | 976.04 | 1,264.42 | 1,168.86 | 1,264.42 |
| 16. | Earnings Per Share (of 10/- each) (not annualised): | |||||
| (a) Basic | 1.04 | (0.41) | 6.78 | 0.67 | (3.36) | |
| (b) Diluted | 1.04 | (0.41) | 6.78 | 0.67 | (3.36) | |
| See accompanying note to the Financial Results |
Notes:
i) The above standalone financial results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors of the company at its meeting held on 28th May 2026.
ii) The figure for the half year ended March 31, 2026 are the balancing figure between the audited figures in respect of the full financial year and the unaudited figures of the half year ended September 30, 2025.
Date: 28th May 2026
Place: Ahmedabad
For AHAsolar Technologies Limited
Pirushkumar Vasantlai Bhatt
Chairman & Managing Director
DIN: 06461593
207, Kalasagar Mall, Ghatlodia, Ahmedabad, 380061, Gujarat, INDIA
@
[email protected]
www.ahasolar.in
+91-79 4039 4029
ahasolar DIGITALIZING SOLAR
AHASOLAR
TECHNOLOGIES LIMITED
CIN: L74999GJ2017PLC098479
ENERGY CONSULTANCY | SOLAR SOFTWARE | NET ZERO ADVISORY | SOLAR MARKETPLACE
Listed on 3SE 5ME
| Ahasolar Technologies Limited (Formerly known as Ahasolar Private Limited) | ||
|---|---|---|
| CIN : L74999GJ2017PLC098479 | ||
| Consolidated Statement of Assets and Liabilities as on 31st March, 2026 | ||
| (Rs. in Lakhs) | ||
| Particulars | Period Ended on | Year Ended on |
| March, 31 2026 | March, 31 2026 | |
| (Audited) | (Audited) | |
| A. EQUITY AND LIABILITIES | ||
| 1. Shareholders' fund | ||
| (a) Share capital | 308.23 | 308.23 |
| (b) Reserves and surplus | 1,189.42 | 1,168.86 |
| Sub-total - Shareholders' funds | 1,497.65 | 1,477.09 |
| 2. Non-current liabilities | ||
| (a) Long term borrowing | 3.98 | - |
| (b) Other Long Term Liabilities | - | - |
| (c) Long-term provisions | 49.48 | 43.80 |
| Sub-total - Non-current liabilities | 53.46 | 43.80 |
| 3. Current liabilities | ||
| (a) Short term borrowing | 86.03 | 71.22 |
| (b) Trade payable | - | - |
| - Due to Micro and Small Enterprises | 25.04 | 120.29 |
| - Due to Others | 79.03 | 42.13 |
| (c) Other current liabilities | 285.72 | 139.88 |
| (d) Short-term provisions | 21.75 | 39.26 |
| Sub-total - Current liabilities | 497.67 | 412.79 |
| TOTAL- EQUITY AND LIABILITIES | 2,048.68 | 1,933.67 |
| BASSETS | ||
| 1. Non-current assets | ||
| (a) Property, plant and equipment and intangible assets | ||
| i. Property, plant and equipment | 60.08 | 55.04 |
| ii. Intangible assets | 47.34 | 61.19 |
| iii. Intangible assets under development | 166.18 | 103.05 |
| iv. Capital Work in Progress | 690.45 | 100.40 |
| (b) Other Non Current Assets | 63.29 | 56.59 |
| (c) Deferred tax assets(net) | 2.40 | 13.47 |
| (d) Long term loan and advances | 16.63 | 16.63 |
| Sub-total - Non-current assets | 1,046.37 | 406.37 |
| 2. Current assets | ||
| (a) Inventories | 22.63 | 2.11 |
| (b) Trade receivables | 380.52 | 594.96 |
| (c) Cash and cash equivalents | 248.34 | 710.83 |
| (d) Short term loan & advances | 156.79 | 124.84 |
| (e) Other current assets | 194.03 | 94.56 |
| Sub-total - Current assets | 1,002.31 | 1,527.30 |
| TOTAL - ASSETS | 2,048.68 | 1,933.67 |
| Notes: | ||
| i) This Statement has been prepared with in accordance with Indian GAAP (Generally Accepted Accounting Practices). | ||
| ii) Previous period figures have been restated for prior period adjustment and regrouped/reclassified wherever necessary to make them comparable with current period figure. |
Date : 28th May 2026
Place: Ahmedabad
For AHAsolar Technologies Limited
Pirashkumar Vasantlal Bhatt
Chairman : S Managing Director
DIN: 06461593
207, Kalasagar Mall, Chatlodia, Ahmedabad, 380061, Gujarat, INDIA @ [email protected] www.ahasolar.in +91-79 4039 4029
ahasolar DIGITALIZING SOLAR
AHASOLAR
TECHNOLOGIES LIMITED
CIN: L74999GJ2017PLC098479
ENERGY CONSULTANCY | SOLAR SOFTWARE | NET ZERO ADVISORY | SOLAR MARKETPLACE
Listed on 3SEGme
| Ahasolar Technologies Limited (Formerly known as Ahasolar Private Limited) | ||
|---|---|---|
| CIN: L74999GJ2017PLC098479 | ||
| Consolidated Cash Flow Statement for the period ended March 31, 2026 | ||
| (Rs. In Lakhs) | ||
| Particulars | Period ended March 31, 2026 | Year ended March 31, 2025 |
| (Audited) | (Audited) | |
| A. Cash flow from operating activities | ||
| Profit/(Loss) Before Tax as per Statement of Profit and Loss | 32.72 | (96.45) |
| Adjustments for: | ||
| Depreciation and amortization expenses | 34.82 | 37.60 |
| Finance costs | 12.38 | 8.06 |
| Interest income | (18.28) | (47.83) |
| Operating profit/(loss) before working capital changes | 61.64 | (98.62) |
| Adjustments for: | ||
| Inventories | (20.52) | (0.49) |
| Trade receivables | 204.30 | (145.74) |
| Other current assets | (81.90) | (3.87) |
| Loans and advances | (31.95) | (110.76) |
| Other current liabilities & Provisions | 86.73 | 215.27 |
| 156.66 | (45.59) | |
| Less: Tax paid(Net) | (19.62) | (30.48) |
| Net Cash Flows Generated From Operating Activities (A) | 198.68 | (174.69) |
| B. Cash flow from investing activities | ||
| Purchase of property, plant and equipment | (679.20) | (165.03) |
| Investments in: | ||
| Bank FDs with original maturity of more than 12 months | (4.76) | 518.08 |
| Bank FDs with original maturity of 3 to 12 months | 259.39 | (188.40) |
| Interest received | 20.51 | 41.82 |
| Net Cash (Used In) Investing Activities (B) | (404.04) | 206.47 |
| C. Cash flow from financing activities | ||
| Proceeds from Issue of Equity Shares (net of issue expenses) | 0.00 | 0.00 |
| Proceeds from availment of Cash credit | 14.81 | 71.22 |
| Proceeds from availment of Vehicle loan | 3.98 | 0.00 |
| Interest paid | (12.38) | (8.06) |
| Net Cash (Used In) Financing Activities (C) | 6.41 | 63.16 |
| Net Increase/(Decrease) In Cash And Bank Balances (A+B+C) | (198.95) | 94.92 |
| Add: Cash And Cash Equivalents at Beginning of the Year | 388.60 | 293.68 |
| Cash And Cash Equivalents At End Of The Year | 189.65 | 388.60 |
| Cash And Cash Equivalents as per Cash flow statement | 189.65 | 388.60 |
| In Fixed Deposit with maturity more than 3 Month | 58.70 | 322.23 |
| Cash And Cash Equivalents as per Balance Sheet | 248.35 | 710.83 |
| Note: 1 The above cash flow statement has been prepared under the "Indirect Method" as set out in the Accounting Standard - 3 on Cash Flow Statements specified under Section 133 of the Companies Act, 2013. |
Date: 28th May 2026
Place: Ahmedabad
For AHAsolar Technologies Limited
Piyushkumar Vasantial Bhatt
Chairman & Managing Director
DIN: 06461593
207, Kalasagar Mall, Ghatlodia, Ahmedabad, 380061, Gujarat, INDIA
@
www.ahasolar.in
+91-79 4039 4029
ahasolar DIGITALIZING SOLAR
AHASOLAR
TECHNOLOGIES LIMITED
CIN: L74999GJ2017PLC098479
ENERGY CONSULTANCY | SOLAR SOFTWARE | NET ZERO ADVISORY | SOLAR MARKETPLACE
Listed on: SSE SME
AHASOLAR/2026-27/12
Date:- 28th May, 2026
To
BSE Limited
P. J. Towers, Dalal Street,
Mumbai- 400001,
Maharashtra, INDIA
BSE Scrip Code: 543941
Dear Sir/ Madam,
Sub: Submission of Audited Standalone Financial Results of the Company for the Half Year and Financial Year Ended 31st March, 2026
With reference to above, we are pleased to submit herewith, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Audited Standalone Financial Results of the Company for the half year & financial year ended 31st March, 2026. Further note that the Statutory Auditors, i.e. M/s. Ambalal Patel & Co LLP, Chartered Accountants (Firm Reg. No. 100305W/W101093), of the Company have issued audit reports with un-modified/ un-qualified opinion in this regards, reviewed by the Audit Committee and subsequently approved by the Board of Directors of the Company at their respective meetings held on 28th May, 2026.
Kindly take the above information on record
Thanking you.
Yours faithfully,
For, AHAsolar Technologies Limited
Piyushkumar Vasantlai Bhatt
Chairman & Managing Director
DIN:06461593
207, Kalasagar Mall, Ghatlodia, Ahmedabad, 380061, Gujarat, INDIA [email protected] www.ahasolar.in +91-79 4039 4029
aha solar
DIGITALIZING SOLAR
AHASOLAR
TECHNOLOGIES LIMITED
CIN: L74999GJ2017PLC098479
ENERGY CONSULTANCY | SOLAR SOFTWARE | NET ZERO ADVISORY | SOLAR MARKETPLACE
Usted on 3SEs me
AHASOLAR/2026-27/13
Date:- 28th May, 2026
To
BSE Limited
P. J. Towers, Dalal Street,
Mumbai- 400001,
Maharashtra, INDIA
BSE Scrip Code: 543941
Dear Sir/ Madam,
DECLARATION
I, Piyushkumar Vasantlal Bhatt, Managing Director of M/s. AHAsolar Technologies ‘Limited having its registered office at Office No. 207, 2nd Floor, Kalasagar Shopping ‘Hub, Opp. Saibaba Temple Sattadhar Cross Road, Ghatlodiya, Ahmedabad - 380 061 do hereby declare that, the Statutory Auditors of the Company, M/s. Ambalal Patel & Co LLP, Chartered Accountants (Firm Reg. No. 100305W/W101093) of Ahmedabad have issue an Audit Report with un-modified/ un-qualified opinion on annual audited standalone financial results for the year ended March 31, 2026.
This declaration is issued in compliance of Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 as amended by the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2016.
Thanking you.
Yours faithfully,
For, AHAsolar Technologies Limited
Piyushkumar Vasantlal Bhatt
Chairman & Managing Director
DIN:06461593
207, Kalasagar Mall, Ghatlodia, Ahmedabad, 380061, Gujarat, INDIA 📞 [email protected] 🌐 www.ahasolar.in 📞 +91-79 4039 4029