Oneindig profit rises to Rs 3.9454 crore as revenue climbs

Oneindig Technologies Limited reported consolidated profit of Rs 3.9454 crore for the half year ended September 30, 2026, compared with Rs 81.78 lakh a year earlier, as revenue from operations increased to Rs 46.273 crore from Rs 12.8485 crore. The results include three 51%-owned solar subsidiaries and followed the August 2026 initial public offer.

How did Oneindig perform in the September 2026 half year?

Oneindig reported total income of Rs 46.3543 crore for the half year ended September 30, 2026, compared with Rs 12.8507 crore in the corresponding half year ended September 30, 2025. Revenue from operations was Rs 46.273 crore and other income was Rs 8.12 lakh. The group reports one solar-power segment in India, covering supply, engineering, procurement and construction, and solar generation by subsidiaries.

Profit before tax was Rs 5.5688 crore, up from Rs 10.44 lakh in the prior-year half. Current tax was Rs 1.2999 crore and deferred-tax expense was Rs 32.34 lakh, producing consolidated profit for the period of Rs 3.9454 crore. Profit attributable to shareholders was Rs 3.8757 crore, while Rs 6.97 lakh was attributable to minority interest.

Earnings per share, or EPS, were Rs 4.33 for the September 2026 half year, compared with Rs 1.02 for the September 2025 half year. Oneindig said half-year EPS was not annualised and was calculated using a weighted average of 89,56,947 equity shares, including the IPO shares from their August 4, 2026 allotment date.

What changed between Oneindig’s reported half years?

Oneindig’s revenue from operations increased by Rs 33.4245 crore year on year, while total expenses rose by Rs 29.0392 crore. Purchases of stock-in-trade were Rs 34.3859 crore in the September 2026 half year, compared with Rs 12.8508 crore a year earlier. Changes in inventories reduced expenses by Rs 1.8985 crore, versus a Rs 6.4443 crore reduction in the prior-year half.

Finance cost rose to Rs 2.266 crore from Rs 1.0806 crore, depreciation and amortisation increased to Rs 1.573 crore from Rs 8.20 lakh, and employee benefit expense increased to Rs 1.416 crore from Rs 1.0222 crore. Operating expenses moved in the other direction, declining to Rs 1.6962 crore from Rs 2.4438 crore.

Against the immediately preceding half year ended March 31, 2026, revenue from operations declined from Rs 58.2225 crore to Rs 46.273 crore and profit fell from Rs 5.2627 crore to Rs 3.9454 crore. The filing describes the March 2026 half-year figures as balancing figures derived from the audited full-year results for the year ended March 31, 2026 and the unaudited September 2025 half-year figures.

How much did Oneindig’s subsidiaries contribute?

Oneindig consolidated Ziya Solar Energies Three Private Limited, Ziya Solar Energies Four Private Limited and Oneindig Jodhpur Solar Private Limited on a line-by-line basis for the September 2026 half year. The filing states that Oneindig holds 51% in each subsidiary, and that their solar generation activities form part of the group’s single reported solar-power segment.

The three subsidiaries together reported total revenue of Rs 3.1139 crore before consolidation adjustments for the half year ended September 30, 2026. Their combined profit after tax was Rs 20.09 lakh, net cash inflows were Rs 4.27 lakh, and total assets were Rs 20.3111 crore at September 30, 2026.

The subsidiaries’ Rs 3.1139 crore pre-consolidation revenue was part of group revenue of Rs 46.273 crore, but the filing does not provide a further revenue split between the parent and subsidiaries. Oneindig’s statutory reviewer said its conclusion on subsidiary amounts relied on review reports issued by other auditors, and said nothing had come to its attention indicating a material misstatement in the consolidated statement.

What changed in Oneindig’s capital, balance sheet and cash flow?

Oneindig’s total assets were Rs 95.7456 crore at September 30, 2026, up from Rs 83.5984 crore at March 31, 2026. Shareholders’ funds increased to Rs 48.7126 crore from Rs 20.7754 crore, while long-term borrowings declined to Rs 20.9287 crore from Rs 23.2976 crore and short-term borrowings decreased to Rs 18.3209 crore from Rs 23.0179 crore.

The increase in shareholders’ funds followed an IPO of 28,80,000 fresh equity shares at Rs 96 each, allotted on August 4, 2026. Gross IPO proceeds were Rs 27.648 crore, and paid-up share capital rose to Rs 10.9242 crore at September 30 from Rs 8.0442 crore at March 31. Oneindig disclosed Rs 3.656 crore of issue expenses adjusted against the securities premium account.

Net cash used in operating activities was Rs 12.4569 crore in the September 2026 half year. A Rs 13.0651 crore increase in short-term loans and advances and a Rs 9.0103 crore decrease in trade payables outweighed a Rs 3.3812 crore decrease in trade receivables. Investing activities used Rs 2.8011 crore, while financing activities generated Rs 14.9711 crore, including IPO proceeds of Rs 27.648 crore.

Oneindig had used Rs 19.9502 crore of the Rs 20 crore designated for working-capital requirements by September 30, 2026, leaving Rs 4.98 lakh unutilised. It also reported Rs 3.992 crore used for general corporate purposes and Rs 3.656 crore for public-issue-related expenses. The cash-flow statement separately recorded Rs 3.506 crore of share-issue expenses paid during the half year.

Conclusion

Oneindig’s half-year results show revenue rising from Rs 12.8485 crore to Rs 46.273 crore and consolidated profit increasing from Rs 81.78 lakh to Rs 3.9454 crore. The group’s results combine the parent’s solar supply and project activity with three solar subsidiaries, which reported Rs 3.1139 crore of revenue before consolidation adjustments.

The next disclosures to watch are the deployment of the remaining Rs 4.98 lakh of IPO working-capital proceeds and whether operating cash flow improves after the Rs 12.4569 crore outflow in the half year. The filing also says Tandon Brij & Co. was proposed as statutory auditor from November 13, 2026, subject to shareholder approval through a postal ballot, after Raj Gupta & Co. resigned effective November 12, 2026.