Dear Shareholders,
The Board of Directors hereby submits the 8th Annual Report of the
business and operations of your Company ("the Company"), along with the audited
financial statements, for the financial year ended March 31, 2025.
Financial Highlights: (Rs. in Lacs)
Particulars |
Consolidated |
Standalone |
|
F.Y. 202425 |
F.Y. 202324 |
F.Y. 202425 |
F.Y. 202324 |
Revenue From Operations
(including other operating income) |
5798.83 |
4203.81 |
3899.75 |
4203.81 |
Other Income |
47.83 |
48.24 |
49.28 |
48.24 |
Total Income |
5846.66 |
4252.05 |
3949.02 |
4252.05 |
OperatingexpenditurebeforeFinancecost,depreciationandamortization |
5897.45 |
4216.23 |
4007.87 |
4216.23 |
EarningsbeforeFinancecost,depreciationandamortization(EBITDA) |
(50.79) |
35.82 |
(58.85) |
35.82 |
Less: Depreciation &
Amortization |
37.60 |
29.50 |
37.60 |
29.50 |
Less: Finance Cost |
8.06 |
0.64 |
8.06 |
0.64 |
Profit Before Tax |
(96.45) |
5.68 |
(104.51) |
5.68 |
Less: Current Tax |
2.03 |
10.79 |
0 |
10.79 |
Less: MAT Credit |
(0.73) |
0.45 |
(0.73) |
0.45 |
Less: Deferred tax Liability
(Asset) |
(2.20) |
(9.78) |
(2.20) |
(9.78) |
Profit after Tax |
(95.55) |
4.22 |
(101.58) |
4.22 |
EPS |
(3.36) |
0.15 |
(3.57) |
0.15 |
BUSINESS OVERVIEW:
Consolidated Financial Performance
During the financial year 202425 the revenue from operation stood at
Rs. 5798.83 Lakhs as compared to Rs. 4203.81 Lakhs during the previous financial year
202324, revenue from operations increased by 37.29% in FY 202425 as compared to FY 202324.
The other income of the Company stood at Rs. 47.83 Lakhs in the financial year 202425 as
compared to Rs. 48.24 Lakhs in previous financial year 202324.
Further, during the financial year 202425, the total expenses have
increased to Rs. 5943.11 lakhs from Rs. 4247.05 Lakhs as compared to previous financial
year 202324. The Net Loss for the financial year 202425 Rs. (95.55) Lakhs in comparison to
Profit of Rs. 4.21 Lakhs in the previous year 202324.
Standalone Financial Performance
During the financial year 202425 the revenue from operation stood at
Rs. 3899.75 Lakhs as compared to Rs. 4203.81 Lakhs during the previous financial year
202324, revenue from operations increased by 8% in FY 202425 as compared to FY 202324. The
other income of the Company stood at Rs. 49.28 Lakhs in the financial year 202425 as
compared to Rs. 48.24 Lakhs in previous financial year 202324.
Further, during the financial year 202425, the total expenses have
increased to Rs. 4053.53 lakhs from Rs. 4246.37 Lakhs as compared to previous financial
year 202324. The Net Loss for the financial year 202425 stood at Rs. (101.58) Lakhs in
comparison to profit of Rs. 4.22 Lakhs in the previous year 202324.
Dividend:
With a view to conserve and save the resources for future prospects of
the Company, the Directors have not declared any dividend for the financial year 202425.
Transfer to General Reserve:
The Directors do not propose to transfer any amount to the Reserves.
The total amount of net profit is carried to the Reserves & Surplus as shown in the
Balance Sheet of the Company.
Change in Nature of Business:
During the year, the Company has not changed its business or object and
continues to be in the same line of business as per the main object of the Company.
Share Capital:
Authorized Capital
The Authorized Capital of the Company is Rs. 5,00,00,000/ divided into
50,00,000 Equity Shares of Rs. 10/ each.
PaidUp Capital
The Present Paidup Capital of the Company is Rs. 3,08,22,880/ divided
into 30,82,288 Equity Shares of Rs. 10/ each.
The Equity Shares of the Company are listed on the BSE SME platform.
The Company confirms that the annual listing fees to the stock exchange for FY 202526 have
been paid.
Further, the Company has not issued any convertible securities or
shares with differential voting rights nor has granted any stock options or sweat equity
or warrants.
Utilisation of IPO Proceeds:
The Company raised funds of Rs. 1284.89 Lakhs through Initial Public
Offering (IPO). The gross proceeds of IPO has been utilized in the manner as proposed in
the Offer Document, the details of which are hereunder:
(Rs. in Lakhs)
Sr. Original
Object No. |
Original Allocation |
Funds Utilized upto March 31, 2025 |
|
1. Development of Solar PV Plant |
705.13 |
149.47 |
1. To Develop the Solar |
|
|
|
Power Plant, multiple |
|
|
|
suitable opportunities |
|
|
|
were explored from |
|
|
|
October 2023 to |
|
|
|
September 2024. |
|
|
|
2. An advance level due |
|
|
|
diligence and |
|
|
|
negotiation of signing |
|
|
|
the PPA was also |
|
|
|
carried out with 23 |
|
|
|
clients but because of |
|
|
|
the nonsuitability in the |
|
|
|
due diligence, the |
|
|
|
Power Purchase |
|
|
|
Agreement was not |
|
|
|
signed even after |
|
|
|
reaching to the last |
|
|
|
stage. |
|
|
|
3. Thereafter between |
|
|
|
October 2024 to March |
|
|
|
2025, the fresh |
|
|
|
p r o s p e c t i v e |
|
|
|
opportunities were |
|
|
|
converted and |
|
|
|
agreement for 1 Power |
|
|
|
Plant of 110 kW was |
|
|
|
executed in November |
|
|
|
2024 and Solar Power |
|
|
|
Plant was installed in |
|
|
|
Jan. 2025. |
Sr. Original
Object No. |
Original Allocation |
Funds Utilized upto March 31, 2025 |
|
|
|
|
The PPA was signed |
|
|
|
with a data centre |
|
|
|
company backed |
|
|
|
office. |
|
|
|
4. Thereafter another |
|
|
|
Power Plant of 2.1 MW |
|
|
|
Solar Power Plant due |
|
|
|
diligence started with |
|
|
|
Power Purchase |
|
|
|
Agreement to be |
|
|
|
signed with Uttar |
|
|
|
Gujarat Vij Company |
|
|
|
Limited (UGVCL), |
|
|
|
Gowt. of Gujarat |
|
|
|
undertaking discom. |
|
|
|
The Project NoC |
|
|
|
received in the month |
|
|
|
of March and the |
|
|
|
construction work has |
|
|
|
started with the |
|
|
|
remaining funds to be |
|
|
|
utilized in this project |
|
|
|
which is due for |
|
|
|
completion in next 3 to |
|
|
|
4 months. |
|
|
|
The delay was done as |
|
|
|
the suitable and reliable |
|
|
|
power purchaser was |
|
|
|
being identified for the |
|
|
|
longterm agreement is |
|
|
|
executed. Further in |
|
|
|
the in 2023 there was |
|
|
|
also very high prices of |
|
|
|
the equipment due to |
|
|
|
the volatility caused to |
|
|
|
the policy transition |
|
|
|
and any power plant |
|
|
|
procured during that |
|
|
|
duration would have |
|
|
|
resulted in the less |
|
|
|
ROI. So these were |
|
|
|
major two reasons for |
|
|
|
the delay in the |
|
|
|
utilization of this funds |
2. Setting up of Electric Vehicle
Charging |
32.50 |
|
AHAsolar Technologies |
Infrastructure |
|
|
Limited has tied up with a |
|
|
|
new and innovative product |
|
|
|
for the portable charging |
|
|
|
and an MoU is also signed |
|
|
|
with them. |
Sr. Original
Object No. |
Original Allocation |
Funds Utilized upto March 31, 2025 |
|
|
|
|
The Portable chargers are |
|
|
|
undergoing pilot testing |
|
|
|
and thereafter it shall be |
|
|
|
purchased for installation. |
3. Purchase of Electric Vehicles |
9.02 |
1.45 |
Vehicle is procured and |
|
|
|
upon the setting up of the |
|
|
|
charging station new |
|
|
|
vehicle will be procured. |
4. To Meet Working Capital
Requirements |
240.00 |
240.00 |
|
5. General Corporate Purpose |
195.94 |
195.94 |
|
6. Public Issue Expenses |
102.29 |
102.29 |
|
Further, there is no deviation/variation in the utilization of the
gross proceeds raised through IPO.
DIRECTORS AND KEY MANAGERIAL PERSONNEL: Constitution of Board:
AAs on the date of this report, the Board comprises of the following
Directors;
Name of Director |
Category Cum |
Date of |
Total |
No.
of Committee1 |
No. of |
|
Designation |
Appointment |
Director |
in which |
in which |
Shares |
|
|
at current |
Ships in |
Director |
Director |
held as on |
|
|
Term & |
other |
is |
is |
March 31, |
|
|
designation |
co.2 |
Members |
Chairman |
2025 |
Mr. Piyushkumar |
Chairman and |
October 03, |
1 |
|
|
212905 |
Vasantlal Bhatt |
Managing
Director |
2022 |
|
|
|
Equity Shares |
Mr. Pulkit Dhingra |
Whole time
Director |
October 03, |
|
|
|
564224 |
|
|
2022 |
|
|
|
Equity Shares |
Mr. Shatrughan |
Executive
Director |
December 08, |
|
|
|
148986 |
Harinarayan Yadav |
|
2022 |
|
|
|
Equity Shares |
Ms. Garima Heerani |
Executive
Director |
October 03 |
1 |
|
|
|
|
|
2022 |
|
|
|
|
Mr. Ashokkumar |
NonExecutive |
October 03, |
2 |
1 |
4 |
|
Ratilal Patel |
Independent
Director |
2022 |
|
|
|
|
Mr. Sharadchandra |
NonExecutive |
October 03, |
2 |
2 |
2 |
|
Babhutabhai Patil |
Independent
Director |
2022 |
|
|
|
|
Mr. Vilin Devkaran |
NonExecutive |
December 08, |
|
1 |
|
|
Davda |
Independent
Director |
2022 |
|
|
|
|
1 Committee includes Audit Committee and Shareholders' Grievances
& Relationship Committee across all Public Companies including our Company.
2 excluding Section 8 Company, Struck off Company, Amalgamated Company
and LLPs
The composition of Board complies with the requirements of the
Companies Act, 2013 ("Act"). Further, in pursuance of Regulation 15(2) of SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing
Regulations"), the Company is exempted from the requirement of having composition of
Board as per Regulation 17 of Listing Regulations.
Disclosure by Directors:
The Directors on the Board have submitted notice of interest under
Section 184(1) i.e. in Form MBP 1, intimation under Section 164(2) i.e. in Form DIR 8 and
declaration as to compliance with the Code of Conduct of the Company.
Board Meeting
The Board of the Company regularly meets to discuss various Business
opportunities. Additional Board meetings are convened, as and when required to discuss and
decide on various business policies, strategies and other businesses.
During the year under review, Board of Directors of the Company met 4
(Four) times as on May 23, 2024; August 13, 2024; October 25, 2024 and February 7, 2025.
The details of attendance of each Director at the Board Meetings are
given below:
Name of Director |
Date of
Original Appointment |
Date of
Cessation |
Number of
Board Meetings Eligible to attend |
Number of
Board Meetings attended |
Mr. Piyushkumar Vasantlal Bhatt |
28/07/2017 |
|
4 |
3 |
Mr. Pulkit Dhingra |
28/07/2017 |
|
4 |
4 |
Mr. Shatrughan Harinarayan Yadav |
08/12/2022 |
|
4 |
4 |
Ms. Garima Heerani |
03/10/2022 |
|
4 |
4 |
Mr. Ashokkumar Ratilal Patel |
03/10/2022 |
|
4 |
4 |
Mr. Sharadchandra Babhutabhai
Patil |
03/10/2022 |
|
4 |
4 |
Mr. Vilin Devkaran Davda |
08/12/2022 |
|
4 |
4 |
The gap between two consecutive meetings was not more than one hundred
and twenty days as provided in section 173 of the Act.
GENERAL MEETINGS:
During the year under review, the following General Meetings were held,
the details of which are given as under:
Sr.No. |
Type of
General Meeting |
Date of
General Meeting |
1. |
Annual General
Meeting |
20th September,
2024 |
Independent Directors:
In terms of Section 149 of the Companies Act, 2013 and rules made there
under, the Company has two NonExecutive Independent Directors in line with the act. The
Company has received necessary declaration from each Independent Director under Section
149 (7) of the Companies Act, 2013 that they meet the criteria of independence laid down
in Section 149 (6) of the Act. Further, all the Independent Directors of the Company have
registered themselves in the Independent Director Data Bank.
Information on Directorate:
During the year under review, there was no change in the constitution
of the Board of Directors of the Company.
a) Change in Board Composition:
There was no Changes in Board Composition during the financial year
202425.
b) Retirement by rotation and subsequent reappointment: i. Ms.
Garima Heerani (DIN: 09642278), Director, is liable to retire by rotation at the ensuing
Annual General Meeting, pursuant to Section 152 and other applicable provisions, if any,
of the Companies Act, 2013, read with the Companies (Appointment and Qualification of
Directors) Rules, 2014 (including any statutory modification(s) or reenactment(s) thereof
for the time being in force), and being eligible have offered herself for reappointment.
Appropriate business for her reappointment is being placed for the
approval of the shareholders of the Company at the ensuing AGM. The brief resume of the
Director and other related information has been detailed in the Notice convening the
ensuing AGM of the Company.
The relevant details, as required under Regulation 36 (3) of SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing
Regulations") and Secretarial Standard, of the person seeking reappointment/
appointment as Director are also provided in Notes to the Notice convening the 8th Annual
General Meeting.
Key Managerial Personnel:
In accordance with Section 203 of the Companies Act, 2013, the Company
has Mr. Piyushkumar Vasantlal Bhatt who is acting as Chairman and Managing Director of the
Company and Mr. Pulkit Dhingra who is acting as WholeTime Director of the Company.
Further, Mr. Jaydeep Parekh is acting as Chief Financial Officer of the company.
Moreover, Mr. Pritesh Krishnaraj Mashru tendered his resignation w.e.f.
20th January, 2025. The Company has in his place, appointed Mr. Jaydeep Parekh as Chief
Financial Officer of the Company w.e.f. 7th February, 2025.
Performance Evaluation:
The Board of Directors has carried out an annual evaluation of its own
performance, board committees and individual directors pursuant to the provisions of the
Companies Act, 2013 and Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015 in the following manners; The performance of
the board was evaluated by the board, after seeking inputs from all the directors, on the
basis of the criteria such as the board composition and structure, effectiveness of board
processes, information and functioning etc.
The performance of the committees was evaluated by the board after
seeking inputs from the committee members on the basis of the criteria such as the
composition of committees, effectiveness of committee meetings, etc.
The board and the nomination and remuneration committee reviewed the
performance of the individual directors on the basis of the criteria such as the
contribution of the individual director to the board and committee meetings like
preparedness on the issues to be discussed, meaningful and constructive contribution and
inputs in meetings, etc.
In addition, the chairman was also evaluated on the key aspects of his
role.
Separate meeting of independent directors was held to evaluate the
performance of nonindependent directors, performance of the board as a whole and
performance of the chairman, taking into account the views of executive directors and
nonexecutive directors. Performance evaluation of independent directors was done by the
entire board, excluding the independent director being evaluated.
Directors' Responsibility Statement:
Pursuant to section 134(5) of the Companies Act, 2013, the board of
directors, to the best of their knowledge and ability, confirm that: a) In preparation of
annual accounts for the year ended March 31, 2025, the applicable accounting standards
have been followed and that no material departures have been made from the same;
b) The Directors had selected such accounting policies and applied them
consistently and made judgments and estimates that are reasonable and prudent so as to
give a true and fair view of the state of affairs of the Company at the end of the
financial year and of the profit or loss of the Company for that year;
c) The Directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the provisions of the
Companies Act, 2013, for safeguarding the assets of the Company and for preventing and
detecting fraud and other irregularities;
d) The Directors had prepared the annual accounts for the year ended
March 31, 2025 on going concern basis. e) The Directors had laid down the internal
financial controls to be followed by the Company and that such Internal Financial Controls
are adequate and were operating effectively; and
f) The Directors had devised proper systems to ensure compliance with
the provisions of all applicable laws and that such systems were adequate and operating
effectively.
COMMITTEES OF BOARD
The Board of Directors, in line with the requirement of the act, has
formed various committees, details of which are given hereunder.
A. Audit Committee:
The Company has formed audit committee in line with the provisions
Section 177 of the Companies Act, 2013 on 30th January, 2023.
During the year under review, Audit Committee met 4 (Four) time viz on
May 23, 2024; August 13, 2024; October 25, 2024 and February 7, 2025
The composition of the Committee and the details of meetings attended
by its members are given below:
Name |
Category |
Designation |
Number
of meetings during |
|
|
|
the financial
year |
202425 |
|
|
|
Eligible to
attend |
Attended |
Mr. Ashokkumar Ratilal Patel |
NonExecutive |
Chairperson |
4 |
4 |
|
Independent
Director |
|
|
|
Mr. Sharadchandra |
NonExecutive |
Member |
4 |
4 |
Babhutabhai Patil |
Independent
Director |
|
|
|
Mr. Vilin Devkaran Davda |
NonExecutive |
Member |
4 |
4 |
|
Independent
Director |
|
|
|
The Statutory Auditors of the Company are invited in the meeting of the
Committee wherever requires. Company Secretary and Chief Financial Officer of the Company
are the regular invitee at the Meeting.
Recommendations of Audit Committee, wherever/whenever given, have been
accepted by the Board of Directors.
Vigil Mechanism:
The Company has established a vigil mechanism and accordingly framed a
Whistle Blower Policy. The policy enables the employees to report to the management
instances of unethical behavior actual or suspected fraud or violation of Company's
Code of Conduct.
Further the mechanism adopted by the Company encourages the Whistle
Blower to report genuine concerns or grievances and provide for adequate safe guards
against victimization of the Whistle Blower who avails of such mechanism and also provides
for direct access to the Chairman of the Audit Committee in exceptional cases. The
functioning of vigil mechanism is reviewed by the Audit Committee from time to time. None
of the Whistle blowers has been denied access to the Audit Committee of the Board. The
Whistle Blower Policy of the Company is available on the website of the Company at
www.ahasolar.in.
B. Stakeholder's Grievance & Relationship Committee:
The Company has constituted Stakeholder's Grievance &
Relationship Committee mainly to focus on the redressal of Shareholders' /
Investors' Grievances, if any, like Transfer / Transmission / Demat of Shares; Loss
of Share Certificates; Nonreceipt of Annual Report; Dividend Warrants, etc. on 30th
January, 2023.
During the year under review, Stakeholder's Grievance &
Relationship Committee met 1 (One) time viz on February 7, 2025.
The composition of the Committee and the details of meetings attended
by its members are given below:
Name |
Category |
Designation |
Number
of meetings during |
|
|
|
the
financial year 202425 |
|
|
|
Eligible to
attend |
Attended |
Mr. Sharadchandra |
NonExecutive |
Chairperson |
1 |
1 |
Babhutabhai Patil |
Independent
Director |
|
|
|
Mr. Ashokkumar Ratilal Patel |
NonExecutive |
Member |
1 |
1 |
|
Independent
Director |
|
|
|
Mr. Vilin Devkaran Davda |
NonExecutive |
Member |
1 |
1 |
|
Independent
Director |
|
|
|
During the year, the Company had not received any complaints from the
Shareholders. There was no complaint pending as on March 31, 2025.
C. Nomination and Remuneration Committee:
The Company has formed Nomination and Remuneration committee on 30th
January, 2023, in line with the provisions of Section 178 of the Companies Act, 2013.
Nomination and Remuneration Committee meetings are generally held for identifying the
persons who are qualified to become Directors and may be appointed in senior management
and recommending their appointments and removal.
During the year under review, Nomination and Remuneration Committee met
2 (Two) time viz on August 13, 2024 and February 7, 2025.
The composition of the Committee and the details of meetings attended
by its members are given below:
Name |
Category |
Designation |
Number
of meetings during |
|
|
|
the
financial year 202425 |
|
|
|
Eligible to
attend |
Attended |
Mr. Vilin Devkaran Davda |
NonExecutive
& |
Chairperson |
1 |
1 |
|
Independent |
|
|
|
Mr. Sharadchandra |
NonExecutive
& |
Member |
1 |
1 |
Babhutabhai Patil |
Independent |
|
|
|
Mr. Ashokkumar Ratilal Patel |
NonExecutive
& |
Member |
1 |
1 |
|
Independent |
|
|
|
Nomination and Remuneration Policy:
Nomination and Remuneration Policy in the Company is designed to create
a high performance culture. It enables the Company to attract motivated and retained
manpower in competitive market, and to harmonize the aspirations of human resources
consistent with the goals of the Company. The Company pays remuneration by way of salary,
benefits, perquisites and allowances to its Executive Directors and Key Managerial
Personnel. Annual increments are decided by the Nomination and Remuneration Committee
within the salary scale approved by the members and are effective from April 1, of each
year.
The Nomination and Remuneration Policy, as adopted by the Board of
Directors, is placed on the website of the Company at www.ahasolar.in and is annexed to
this Report as Annexure A.
Remuneration of Director:
The details of remuneration paid during the financial year 202425 to
directors of the Company is provided in Form MGT7 available at website of the Company,
i.e. www.ahasolar.in.
PUBLIC DEPOSIT:
The company has not accepted any deposits from the public. Hence, the
directives issued by the Reserve Bank of India & the Provision of Section 73 to 76 of
the Company Act, 2013 or any other relevant provisions of the Act and the Rules there
under are not applicable.
PARTICULARS OF LOANS, GUARANTEES, INVESTMENTS & SECURITY:
Details of Loans, Guarantees, Investments and Security covered under
the provisions of Section 186 of the Companies Act, 2013 are given in the notes no. 35
(ii) to the Financial Statement.
ANNUAL RETURN:
Pursuant to Section 92(3) read with Section 134(3) (a) of the Act, the
Annual Return as on March 31, 2025 is available on the Company's website on
www.ahasolar.in.
CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:
All the Related Party Transactions entered into during the financial
year were on an Arm's Length basis and in the Ordinary Course of Business. No
material significant Related Party Transactions (i.e. exceeding 10% of the annual
consolidated turnover as per the last audited financial statement) with Promoters,
Directors, Key Managerial Personnel (KMP) and other related parties which may have a
potential conflict with the interest of the Company at large, were entered during the year
by your Company. Accordingly, the disclosure of Related Party Transactions as required
under Section 134(3)(h) of the Companies Act, 2013, in Form AOC2 is not applicable.
Further, prior omnibus approval of the Audit Committee is obtained on
yearly basis for the transactions which are of a foreseen and repetitive nature. The
transactions entered into pursuant to the omnibus approval so granted were placed before
the Audit Committee and the Board of Directors for their approval on quarterly basis.
The details of the related party transactions for the financial year
202425 is given in notes of the financial statements which is part of Annual Report.
The Policy on Related Party Transactions as approved by the Board of
Directors is available on the website of the Company at www.ahasolar.in.
DISCLOSURE OF REMUNERATION:
In terms of the provisions of Section 197(12) of the Act read with
Rules 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014, a statement showing the names and other particulars of the
employees drawing remuneration in excess of the limits set out in the said rules will be
available for inspection at the Registered Office of the Company during working hours and
any member interested in obtaining such information may write to the Company and the same
will be furnished on request.
Having regard to the provisions of the first proviso to Section 136(1)
of the Act and as advised, the Annual Report excluding the aforesaid information is being
sent to the members of the Company.
Disclosures relating to remuneration and other details as required
under Section 197(12) of the Act read with Rule 5(1) of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014 are provided as an Annexure B,
which forms part of this Report.
SUBSIDIARIES OF THE COMPANY:
1. RTC Energy Private Limited (100%)
Pursuant to the provisions of Section 129, 134 and 136 of the Act read
with rules made thereunder and Regulation 33 of the SEBI Listing Regulations, your Company
has prepared consolidated financial statements of the Company and a separate statement
containing the salient features of financial statement of subsidiaries, joint ventures and
associates in Form AOC1, which forms part of this Annual Report is annexed herewith as Annexure
C.
ASSOCIATES AND JOINT VENTURE OF THE COMPANY:
During the year under review, the Company does not have any Associate
or Joint Venture.
SIGNIFICANT AND MATERIAL ORDERS:
There are no significant and material orders passed by the regulators
or courts or tribunals which impact the going concern status and the Company's
operations in future.
MATERIAL CHANGES AND COMMITMENT:
There are no material changes and commitments, affecting the financial
position of the Company, have occurred between the ends of financial year of the Company
i.e. March 31, 2025 to the date of this Report.
SEXUAL HARASSMENT OF WOMEN AT WORKPLACE:
To foster a positive workplace environment, free from harassment of any
nature, we have institutionalized the AntiSexual Harassment Initiative (ASHI) framework,
through which we address complaints of sexual harassment at the all workplaces of the
Company. Our policy assures discretion and guarantees nonretaliation to complainants. We
follow a genderneutral approach in handling complaints of sexual harassment and we are
compliant with the law of the land where we operate. The Company has setup an Internal
Complaints Committee (ICC) for redressal of Complaints.
During the financial year 202425, the Company has received nil
complaints on sexual harassment, out of which nil complaints have been disposed off and
nil complaints remained pending as of March 31, 2025.
ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO: A. Conservation of Energy: i.) The steps taken or impact on
conservation of energy:
During the year under review, your Company was not engaged in any
manufacturing or processing activity. Considering the nature of the Company's
business, there is no reporting to be made on conservation of energy in its operations.
Notwithstanding this, the Company recognizes the importance of energy conservation in
decreasing the adverse effects of global warming and climate change. The Company carries
on its activities in an environmentally friendly and energy efficient manner. ii.) The
steps taken by the Company for utilizing alternate sources of energy:
Your Company is already engaged in the business of generation of energy
using solar energy and thereby using ecofriendly source of generation of energy. iii.)
The capital investment on energy conservation equipment:
Not Applicable
B. Technology Absorption: i.) Major efforts made towards technology
absorption:
The Company has not entered into any technology agreement or
collaborations. ii.) The benifits derived like product improvement, cost reduction,
product development or import substitution:
Not Applicable iii.) Information regarding imported technology
(Imported during last three years):
The Company has not imported any technology during the last three
years. iv.) Expenditure incurred on research and development:
None
C. Foreign Exchange Earnings and Outgo:
The particulars relating to foreign exchange earnings and outgo during
the year under review are as under:
Sr. No. Particulars |
202425 |
202324 |
1 Foreign Exchange Earned |
56.70 |
1.11 |
2 Foreign Exchange Outgo |
|
|
SECRETARIAL STANDARDS OF ICSI:
The Company is in compliance with the applicable Secretarial Standard
issued by the Institute of Company Secretaries of India and approved by the Central
Government.
RISK MANAGEMENT:
A welldefined risk management mechanism covering the risk mapping and
trend analysis, risk exposure, potential impact and risk mitigation process is in place.
The objective of the mechanism is to minimize the impact of risks identified and taking
advance actions to mitigate it. The mechanism works on the principles of probability of
occurrence and impact, if triggered. A detailed exercise is being carried out to identify,
evaluate, monitor and manage both business and nonbusiness risks.
INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY:
The Company has an effective internal control system, which ensures
that all the assets of the Company are safeguarded and protected against any loss from
unauthorized use or disposition.
The Internal Auditor M/s. Dhaval D Thakkar & co., Chartered
Accountants, have played an important role in strengthening the internal controls within
the Company.
The Internal Auditors of the Company carry out review of the internal
control systems and procedures. The internal audit reports are reviewed by Audit
Committee.
The Company has also put in place adequate internal financial controls
with reference to the financial statements commensurate with the size and nature of
operations of the Company. During the year, such controls were tested and no material
discrepancy or weakness in the Company's internal controls over financial reporting
was observed.
CODE OF CONDUCT FOR PREVENTION OF INSIDER TRADING
Pursuant to the SEBI (Prohibition of Insider Trading) Regulations,
2015, as amended from time to time, the Company has adopted the Code of Conduct for
Prevention of Insider Trading to regulate the dealing in securities by the directors and
employees of the Company. The Code requires preclearance from the authorised person of the
Company for dealing in the Company's shares and prohibits the purchase or sale of the
Company's shares by the directors and employees while in possession of unpublished
price sensitive information in relation to the Company or its securities.
The Company has appointed the Company Secretary as the Compliance
Officer to ensure compliance of the said Code by all the directors and employees likely to
have access to unpublished price sensitive information.
CORPORATE GOVERNANCE:
The Company strives to incorporate the appropriate standards for
corporate governance. However, pursuant to Regulation 15(2) of SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015 the Company is not required to mandatorily
comply with the provisions of certain regulations of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015 and therefore the Company has not provided a
separate report on Corporate Governance, although few of the information are provided in
this report under relevant heading.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT:
In terms of Regulation 34 and Schedule V of SEBI (Listing Obligations
and Disclosure Requirements) Regulations 2015 a review of the performance of the Company
for the year under review, Management Discussion and Analysis Report is presented in a
separate section which is annexed to this Report as Annexure D.
STATUTORY AUDITOR AND THEIR REPORT:
The Board of Directors at their meeting dated 27th May, 2025
recommended the appointment of M/s. Ambalal Patel & Co LLP, Chartered Accountants
(Firm Reg. No. 100305W/W101093) as Statutory Auditors of the Company in place of M/s. K.
C. Parikh & Co., Chartered Accountants (FRN 107550W) who have tendered their
resignation w.e.f. 27th May, 2025 as Statutory Auditors of the Company. M/s. Ambalal Patel
& Co LLP, Chartered Accountants (Firm Reg. No. 100305W/W101093) were appointed w.e.f.
27th May, 2025 till the ensuing AGM to fill the casual vacancy caused due to resignation
of M/s. K. C. Parikh & Co., Chartered Accountants (FRN 107550W).
Further, the Board of Directors of the Company at its meeting held on
27th May, 2025 have appointed M/s. Ambalal Patel & Co LLP, Chartered Accountants (Firm
Reg. No. 100305W/W101093) for a term of 5 years, subject to the approval of shareholders
at ensuing Annual General Meeting, to hold office from the conclusion of 8th Annual
General Meeting till the conclusion of 13th Annual General Meeting of the Company to be
held in the year 2030. The Board recommends to the members of the Company approval of
appointment of M/s. Ambalal Patel & Co LLP, Chartered Accountants (Firm Reg. No.
100305W/W101093) as the Statutory Auditors of the Company. They have confirmed their
eligibility under Section 141 of the Companies Act, 2013 and the Rules framed thereunder.
As required under SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015, the Auditors have also confirmed that they hold a valid certificate issued by the
Peer Review Board of the Institute of Chartered Accountants of India.
The Notes to the financial statements referred in the Auditors Report
are selfexplanatory and therefore do not call for any comments under Section 134 of the
Companies Act, 2013. The Auditors' Report does not contain any qualification,
reservation or adverse remark. The Auditors' Report is enclosed with the financial
statements in this Annual Report.
REPORTING OF FRAUD:
The Auditors of the Company have not reported any fraud as specified
under Section 143(12) of the Companies Act, 2013.
CORPORATE SOCIAL RESPONSIBILITY
The provisions of the Section 135 the Act are not applicable to the
Company.
MAINTENANCE OF COST RECORD:
As per the Cost Audit Orders and in terms of the provisions of Section
148 and all other applicable provisions of the Companies Act, 2013, read with the
Companies (Audit and Auditors) Rules, 2014, Cost Audit and Cost Records are not applicable
to our Company.
SECRETARIAL AUDITOR AND THEIR REPORT:
Pursuant to Section 204 of the Act, your Company had appointed M/s.
Mukesh H Shah & Co., Company Secretaries, as its Secretarial Auditors to undertake the
Secretarial Audit of your Company for the financial year ended March 31, 2025. The
Secretarial Audit Report in the prescribed Form No. MR3 is attached as Annexure E.
There are no qualifications or observations or adverse remarks or
disclaimers of the Secretarial Auditors in its Report.
GENERAL DISCLOSURE:
Your Directors state that the Company has made disclosures in this
report for the items prescribed in section 134 (3) of the Act and Rule 8 of The Companies
(Accounts) Rules, 2014 and other applicable provisions of the act and listing regulations,
to the extent the transactions took place on those items during the year. Your Directors
further state that no disclosure or reporting is required in respect of the following
items as there were no transactions on these items during the year under review; (i) Issue
of Equity Shares with differential rights as to dividend, voting or otherwise; (ii) Issue
of shares (including sweat equity shares) to employees of the Company under any scheme
save and ESOS; (iii) There is no revision in the Board Report or Financial Statement; (iv)
pendency of any proceeding against the Company under the Insolvency and Bankruptcy Code,
2016; (v) instance of onetime settlement with any bank or financial institution; (vi)
fraud reported by Statutory Auditors; and
ACKNOWLEDGEMENT:
Your Directors wish to place on record their sincere appreciation for
significant contributions made by the employees at all levels through their dedication,
hard work and commitment, enabling the Company to achieve good performance during the year
under review.
Your Directors also take this opportunity to place on record the
valuable cooperation and support extended by the banks, government, business associates
and the shareholders for their continued confidence reposed in the Company and look
forward to having the same support in all future endeavors.
Registered office: For, AHASOLAR TECHNOLOGIES LIMITED
Office No. 207, Kalasagar Shopping Hub, By order of the Board of
Directors Opp. Saibaba Temple, Sattadhar Cross Road, Ghatlodiya, Ahmedabad, Gujarat, India
380061
Piyushkumar Vasantlal Bhatt Pulkit Dhingra Place : Ahmedabad
Chairman & Managing Director Whole Time Director Date : 22/07/2025 DIN:
06461593 DIN: 07863075
ANNEXURE A
NOMINATION & REMUNERATION POLICY
Preface: Background
This Nomination and Remuneration Policy is being formulated in
Compliance with Section 178 of the Companies Act, 2013, as amended from time to time. This
policy on Nomination and Remuneration of the Directors, Key Managerial Personnel and
Senior Management has been approved by the Board of Directors.
Our Policy on the Appointment and Remuneration of Directors, Key
Managerial Personnel and Senior Management Personnel provides a framework based on which
our human resources management aligns their recruitment plans for strategic growth of the
Company.
Definitions
I. "Act" means the Companies Act, 2013 and rules framed
there under, as amended from time to time.
II. "Board of Directors" or "Board", in
relation to the Company, means the collective body of the Directors of Company.
III. "Committee" means the Nomination and Remuneration
Committee of the Company as constituted or reconstituted by the Board.
IV. "Company" means Ahasolar Technologies Limited.
V. "Managerial Personnel" means Managerial Personnel or
Persons, applicable under Section 196 and other applicable provisions of the Companies
Act, 2013.
VI. "Policy" or "This Policy" Nomination and
Remuneration Policy.
VII. "Remuneration" means any money or its equivalent
given or passed to any person for services rendered by him and includes perquisites as
defined under the IncomeTax Act, 1961;
VIII. "Key Managerial Personnel" means an Individual as
defined under Section 2(51) and Section 203 of the Companies Act, 2013: a. the Chief
Executive Officer or the Managing Director or the Manager;
b. the Company Secretary; c. the WholeTime Director; d. the Chief
Financial Officer;
e. such other officer, not more than one level below the directors who
is in the wholetime employment, designated as key managerial personnel by the Board; and
f. such other person as may be prescribed by the Company from time to
time.
IX. "Senior Managerial Personnel" mean officers/personnel
of the listed entity who are members of its core management team excluding the Board of
Directors and normally this shall comprise all members of management one level below the
chief executive officer/managing director/whole time director/manager (including chief
executive officer/manager, in case they are not part of the Board) and shall specifically
include company secretary and chief financial officer.
Purpose
Pursuant to the Section 178 of the Companies Act, 2013 read with Rule 6
of the Companies (Meetings of Board and its Powers) Rules, 2014, the Board of Directors
shall constitute the Nomination and Remuneration Committee, to guide the Board on various
issues on appointment, evaluate the performance, remuneration of Directors, Key Managerial
Personnel, etc.
Constitution of Nomination and Remuneration Committee
The Board has constituted the "Nomination and Remuneration
Committee" in line with the requirements under the Companies Act, 2013.
Applicability
This Policy is applicable to all Directors, Key Managerial Personnel
and Senior Management Personnel and such other officer as may be prescribed by the Board
of Ahasolar Technologies Limited.
Objective
The objective of the Policy is to ensure that: i. The level and
composition of remuneration is reasonable and sufficient to attract, retain and motivate
Directors of the quality required to run the Company successfully;
ii. Relationship of remuneration to performance is clear and meets
appropriate performance benchmarks; and;
iii. Remuneration to Directors, Key Managerial Personnel and Senior
Management involves a balance between fixed and incentive pay reflecting short and
longterm performance objectives appropriate to the working of the Company and its goals.
Role of the Committee
The role of the NRC will be the following: i. Formulation of the
criteria for determining qualifications, positive attributes and independence of a
director and recommend to the Board a policy, relating to the remuneration of the
directors, key managerial personnel and other employees;
ii. Formulation of criteria for evaluation of Independent Directors and
the Board;
iii. To ensure that the relationship of remuneration to performance is
clear and meets appropriate performance benchmarks; and
iv. Identifying persons who are qualified to become directors and who
may be appointed in senior management in accordance with the criteria laid down, and
recommend to the Board of Directors their appointment and removal and shall carry out
evaluation of every director's performance.
Appointment And Removal Of Director, Key Managerial Personnel And
Senior Management: i. The Committee shall identify and ascertain the integrity,
qualification, expertise and experience of the person for appointment as Director, KMP or
at Senior Management level and recommend his/her appointment, as per Company's
Policy.
ii. A person should possess adequate qualification, expertise and
experience for the position he/she is considered for appointment. The Committee has
authority to decide whether qualification, expertise and experience possessed by a person
is sufficient/satisfactory for the position.
iii. The Company shall not appoint or continue the employment of any
person as WholeTime Director who has attained the age of seventy years. Provided that the
term of the person holding this position may be extended beyond the age of seventy years
with the approval of shareholders by passing a special resolution.
Term/Tenure i. Chairman/Managing Director/Wholetime Director: The
Company shall appoint or re appoint any person as its Executive Chairman, Managing
Director or Executive Director for a term not exceeding five years at a time under the
terms of the applicable provisions of the law. No reappointment shall be made earlier than
one year before the expiry of term.
ii. Independent Director: An Independent Director shall hold office for
a term up to five consecutive years on the Board of the Company and will be eligible for
reappointment on passing of a special resolution by the Company and disclosure of such
appointment in the Board's Report.
16 8th Annual Report 202425 iii. No Independent Director
shall hold office for more than two consecutive terms of upto maximum of 5 years each, but
such Independent Director shall be eligible for appointment after expiry of three years of
ceasing to become an Independent Director. iv. Provided that an Independent Director shall
not, during the said period of three years, be appointed in or be associated with the
Company in any other capacity, either directly or indirectly. v. At the time of
appointment of Independent Director, it should be ensured that number of Boards on which
such Independent Director serves is restricted to seven listed companies as an Independent
Director and in case such person is serving as a Wholetime Director in any Listed Company
then he/she may serve as an Independent Director in not more than three listed companies.
Evaluation
Evaluation of the Board, Committee, the Individual Directors, etc.
shall be carried out as per the Performance Evaluation Policy of the Company.
Removal
The Committee may recommend with reasons recorded in writing, removal
of a Director, KMP or Senior Management Personnel subject to the provisions and compliance
of the Companies Act, 2013, rules and regulations and the policy of the Company.
Retirement
The Director, KMP and Senior Management Personnel shall retire as per
the applicable provisions of the Act and the prevailing policy of the Company. The Board
will have the discretion to retain the Director, KMP, Senior Management Personnel in the
same position/remuneration or otherwise even after attaining the retirement age, for the
benefit of the Company.
Policy For Remuneration To Directors/KMP/Senior Management Personnel A.
Remuneration to Managing Director/Wholetime Directors: i. The Remuneration/Commission
etc. to be paid to Managing Director/Wholetime Directors, etc. shall be governed as per
the applicable provisions of the Companies Act, 2013 and rules made there under or any
other enactment for the time being in force and the requisite approvals obtained from the
Members of the Company and from other concerned authorities, if required as per the
applicable provisions. ii. The Nomination and Remuneration Committee shall make such
recommendations to the Board of Directors, as it may consider appropriate with regard to
remuneration to Managing Director/Wholetime Directors.
B. Remuneration to NonExecutive/Independent Directors: i. The
NonExecutive/Independent Directors may receive sitting fees and such other remuneration as
permissible under the provisions of the Companies Act, 2013. The amount of sitting fees
shall be such as may be recommended jointly by Managing Director and WholeTime Director
and approved by the Board of Directors unanimously. ii. All the remuneration to the
NonExecutive/Independent Directors (excluding remuneration for attending meetings as
prescribed under Section 197(5) of the Companies Act, 2013), in case of no profit or
inadequate profit, shall be subject to ceiling/limits as provided under the Companies Act,
2013 and rules made there under or any other enactment for the time being in force. The
amount of such remuneration shall be such as may be recommended jointly by Managing
Director and WholeTime Director and approved by the Board of Directors unanimously. iii.
An Independent Director shall not be eligible to get Stock Options and also shall not be
eligible to participate in any sharebased payment schemes of the Company. iv. Any
remuneration paid to NonExecutive/Independent Directors for services rendered which are of
professional in nature shall not be considered as part of the remuneration for the
purposes of clause (ii) above if the following conditions are satisfied: a. The services
are rendered by such Director in his capacity as the professional; and b. In the opinion
of the Committee, the Director possesses the requisite qualification for the practice of
that profession.
v. The Nomination and Remuneration Committee of the Company,
constituted for the purpose of administering the Employee Stock Option/Purchase Schemes,
shall determine the stock options and other sharebased payments to be made to Directors
(other than Independent Directors).
C. Remuneration to Key Managerial Personnel and Senior Management: i.
The remuneration to Key Managerial Personnel and Senior Management shall consist of fixed
pay and incentive any, in compliance with the provisions of the Companies Act, 2013 and in
accordance with the Company's Policy, to the extent it is applicable to the Company.
ii. The Nomination and Remuneration Committee of the Company,
constituted for the purpose of administering the Employee Stock Option/Purchase Schemes,
shall determine the stock options and other sharebased payments to be made to Key
Managerial Personnel and Senior Management.
iii. The Fixed pay shall include monthly remuneration, employer's
contribution to Provident Fund, contribution to pension fund, pension schemes, etc. as
decided from time to time.
iv. The Incentive pay shall be decided based on the balance between
performance of the Company and performance of the Key Managerial Personnel and Senior
Management, to be decided annually or at such intervals as may be considered appropriate.
Implementation i. The Committee may issue guidelines, procedures,
formats, reporting mechanism and manuals in supplement and for better implementation of
this policy as considered appropriate.
ii. The Committee may delegate any of its powers to one or more of its
members.
Amendment to the Policy
The Board of Directors on its own and/or as per the recommendations of
Nomination and Remuneration Committee can amend this Policy, as and when required. In case
of any amendment(s), clarification(s), circular(s), etc. issued by the relevant
authorities, not being consistent with the provisions of this Policy, then such
amendment(s), clarification(s), circular(s), etc. shall prevail upon the provisions
hereunder and this Policy shall stand amended accordingly from the effective date as laid
down under such amendment(s), clarification(s), circular(s), etc. However, to bring the
effects of such amendment(s), clarification(s), etc. Committee may recommend such changes
in this Policy to the Board for the approval in the meeting of the Board of Directors.
Annexure B Particulars of Employees
Disclosures pertaining to remuneration and other details as required
under Section 197(12) of the Companies Act, 2013 read with Rules made there under.
3A. IInformation as per Rule 5(1) of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014: a) The ratio of remuneration of each
director to the median remuneration of employees for the financial year:
Sr. Name No. |
Designation |
Nature of Payment |
Ratio against
median employee's remuneration |
1 Mr. Piyushkumar Vasantlal Bhatt |
Chairman & |
Remuneration |
7.08:1 |
|
Managing Director |
|
|
2 Mr. Pulkit Dhingra |
Whole time Director |
Remuneration |
5.28:1 |
3 Mr. Shatrughan Harinarayan
Yadav |
Executive Director |
Remuneration |
4.92:1 |
4 Ms. Garima Heerani |
Executive Director |
Remuneration |
2.04:1 |
5 Mr. Ashokkumar Ratilal Patel |
Independent Director |
Sitting Fees |
NA |
6 Mr. Sharadchandra Babhutabhai
Patil |
Independent Director |
Sitting Fees |
NA |
7 Mr. Vilin Devkaran Davda |
Independent Director |
Sitting Fees |
NA |
8 Mr. Priteshkumar Krishnaraj
Mashru |
CFO |
Salary |
NA |
9 Mr. Jaydeep Parekh |
CFO |
Salary |
1.80:1 |
10 Mr. Darshil Shah |
CS |
Salary |
1.63:1 |
b) The Percentage increase in remuneration of each director, Chief
Financial Officer, Chief Executive Officer, Company Secretary or Manager, if any, in the
financial year:
Sr. Name |
Designation |
Nature of |
Percentage |
No. |
|
Payment |
Increase in |
|
|
|
remuneration |
1 Mr. Piyushkumar Vasantlal Bhatt |
Chairman & |
Remuneration |
|
|
Managing Director |
|
|
2 Mr. Pulkit Dhingra |
Whole time Director |
Remuneration |
|
3 Mr. Shatrughan Harinarayan
Yadav |
Executive Director |
Remuneration |
|
4 Ms. Garima Heerani |
Executive Director |
Remuneration |
|
5 Mr. Ashokkumar Ratilal Patel |
Independent Director |
Sitting Fees |
|
6 Mr. Sharadchandra Babhutabhai
Patil |
Independent Director |
Sitting Fees |
|
7 Mr. Vilin Devkaran Davda |
Independent Director |
Sitting Fees |
|
8 Mr. Priteshkumar Krishnaraj
Mashru |
CFO |
Salary |
|
10 Mr. Jaydeep Parekh |
CFO |
Salary |
17.00 |
11 Mr. Darshil Shah |
CS |
Salary |
8.00 |
c) The percentage increase/decrease in the median remuneration of
employees in the financial year:
Median remuneration of Employees has increased by 4.165 % in F.Y 202425
from F.Y. 202324.
d) The number of permanent employees on the rolls of the Company:
100 Employees
e) Average percentile increase already made in the salaries of
employees other than the managerial personnel in the last financial year and its
comparison with the percentile increase in the managerial remuneration and justification
thereof and point out if there are any exceptional circumstances for increase in the
managerial remuneration:
During the Financial Year 202425 the average salary of the employees
other than the managerial personnel were increased by 8.26% from Financial Year 202324.
During the Financial Year 202425 the managerial remuneration has
decreased by 12.60% from Financial Year 202324.
The Board of Directors of the Company affirmed that remuneration of all
the Key Managerial Personnel of the Company are as per the Remuneration Policy of the
Company.
Registered office: For, AHASOLAR TECHNOLOGIES LIMITED
Office No. 207, Kalasagar Shopping Hub, By order of the Board of
Directors Opp. Saibaba Temple, Sattadhar Cross Road, Ghatlodiya, Ahmedabad, Gujarat, India
380061
Piyushkumar Vasantlal Bhatt Pulkit Dhingra Place : Ahmedabad
Chairman & Managing Director Whole Time Director Date : 22/07/2025 DIN:
06461593 DIN: 07863075
Annexure C Form AOC1
(Pursuant to first proviso to subsection (3) of section 129 read with
rule 5 of Companies (Accounts) Rules, 2014)
Statement containing salient features of the financial statement of
subsidiaries or associate companies or joint ventures
Part A Subsidiaries
(Information in respect of each subsidiary to be presented with amounts
in Rs. in Lakhs)
Sl.No. Particulars |
RTC Energy
Private Limited |
1 The date since when subsidiary
was acquired |
05.06.2024 |
2 Reporting period for the
subsidiary concerned, if different from the |
05.06.2024 to
31.03.2025 |
holding company's reporting
period. |
|
3 Reporting currency and Exchange
rate as on the last date of the |
INR |
relevant Financial year in the
case of foreign subsidiaries. |
|
4 Share capital |
1.00 |
5 Reserves and surplus |
6.03 |
6 Total assets |
126.23 |
7 Total Liabilities |
119.20 |
8 Investments |
|
9 Turnover |
1911.40 |
10 Profit before taxation |
8.06 |
11 Provision for taxation |
2.03 |
12 Profit after taxation |
6.03 |
13 Proposed Dividend |
|
14 Extent of shareholding (in
percentage) |
100% |
Notes: The following information shall be furnished at the end of
the statement:
1. Names of subsidiaries which are yet to commence operations: Nil
2. Names of subsidiaries which have been liquidated or sold during the
year.: Not Applicable
Part B Associates and Joint Ventures
Statement pursuant to Section 129 (3) of the Companies Act, 2013
related to Associate Companies and Joint Ventures: Not Applicable
Registered office: For, AHASOLAR TECHNOLOGIES LIMITED
Office No. 207, Kalasagar Shopping Hub, By order of the Board of
Directors Opp. Saibaba Temple, Sattadhar Cross Road, Ghatlodiya, Ahmedabad, Gujarat, India
380061
Piyushkumar Vasantlal Bhatt Pulkit Dhingra Place : Ahmedabad
Chairman & Managing Director Whole Time Director Date : 22/07/2025 DIN:
06461593 DIN: 07863075