Onix Solar Energy Posts Rs 32.42 Crore September 2026 Net Sales, Down 47.89% Year on Year

Onix Solar Energy reported consolidated net sales of Rs 32.42 crore for September 2026, down 47.89% from Rs 62.21 crore in September 2025. Business News Today published the quarterly figures on November 6, 2026.

Onix Solar's Profit and EBITDA Decline

Quarterly net profit came to Rs 1.49 crore in September 2026, down 32.47% from Rs 2.20 crore in September 2025. EBITDA stood at Rs 2.25 crore, down 49.32% from Rs 4.44 crore a year earlier. EPS decreased to Rs 0.40 from Rs 11.13.

Purchase of traded goods was Rs 28.46 crore in September 2026, against Rs 50.31 crore in September 2025. Employees cost was Rs 1.04 crore, compared with Rs 1.78 crore a year earlier, and interest was Rs 0.06 crore against Rs 1.76 crore. Tax was Rs 0.57 crore, against Rs 0.30 crore in September 2025.

Net sales were Rs 94.51 crore in June 2026, and net profit for that quarter was Rs 20.90 crore. Equity share capital was Rs 36.87 crore in September 2026, against Rs 1.98 crore in September 2025.

Onix Renewable's Gujarat and Maharashtra Projects

Onix Renewable is an Indian solar EPC developer based in Rajkot that commissions projects under the PM-KUSUM scheme for state utilities and rural and agricultural consumers in Gujarat and Maharashtra, according to akta.pro company records. The same records list 115 MW commissioned and a 969 MW pipeline.

In June 2026, Onix commissioned 115 MW of solar capacity under the PM-KUSUM Component-C programme in Gujarat, which the records describe as making it the leading developer under the scheme in the state. In December 2025, the company restructured a Rs 2,035.26 crore EPC contract with Vikran Engineering for 600 MW AC solar projects in Maharashtra into a Rs 3,517.98 crore direct arrangement for 969 MW, after Vikran acquired NOPL Solar Projects.

Onix Renewable's Stake Increase and Share Sales

Onix Renewable Limited acquired 7,46,000 shares of Onix Solar Energy Limited in the open market on October 13, 2026, raising its stake to 51.73%, ScanX reported. The acquisition was disclosed under SEBI SAST Regulation 29(2), and the target's capital remained unchanged at ₹36,86,79,260.

Abhishek Ashvinbhai Kamdar sold a 3.15% stake in Onix Solar Energy, reducing his combined holding from 10.82% to 7.67% through off-market and on-market transactions completed between July 27 and August 20, 2026, ScanX reported.

What Comes Next for Onix Solar

Onix Renewable's 969 MW Maharashtra arrangement with Vikran Engineering followed the restructuring of the earlier 600 MW contract, according to akta.pro company records.