Surana Solar sees profit surge, divests subsidiary

Surana Solar Limited’s board of directors approved its unaudited financial results for the quarter and half-year ended September 30, 2025. The company reported a profit of INR 82.27 lakhs for the half-year, significantly higher than the INR 60.47 lakhs reported in the previous year. Revenue from operations for the half-year stood at INR 466.31 lakhs.

A key development during the quarter was the divestiture of Surana Technologies Private Limited (STPL). Surana Solar sold 49% of its shares/voting rights in STPL to Baidyanath Power Private Limited (BPPL) via an Investment Agreement dated May 22, 2025. Subsequently, the remaining 51% beneficial ownership was also transferred to BPPL. Consequently, STPL ceased to be a subsidiary of Surana Solar, and its financial results have not been consolidated in the current period.

Other income for the half-year included INR 338.43 lakhs received from Paradip Port Trust (PPT) towards interest and reimbursement of project expenses, following a court order dated September 17, 2025. The company's unaudited financial statements for this period have undergone a Limited Review by Luharuka & Associates, chartered accountants.