- Revenue jumps 44.63% to ₹141.81 crore as renewable-energy demand powers strong first-quarter performance
- EBITDA climbs 60.41% to ₹15.61 crore; margin expands to 11.01% from 9.93%
- PAT leaps 165.59% to ₹7 crore; PAT margin nearly doubles to 4.94%
- Solar PV modules and EPC contracts remain the dominant growth engine with ₹137.86 crore revenue
- Board approves strategic solar-project stake consolidation and proposes ₹0.75 final dividend per share
NE ECONOMIC BUREAU
AHMEDABAD, AUG 13
Zodiac Energy has kicked off FY27 with a powerful earnings surge, turning the first quarter into a compelling snapshot of how India’s renewable-energy momentum is translating into stronger growth and profitability. The solar-energy company reported a 44.63% jump in sales, 60.41% growth in EBITDA and a striking 165.59% rise in PAT for Q1 FY2027.
Zodiac Energy Limited recorded sales of ₹141.81 crore in Q1 FY2027, up from ₹98.05 crore in the corresponding quarter of FY2026.
EBITDA rose to ₹15.61 crore, compared with ₹9.73 crore a year earlier, marking a 60.41% year-on-year increase. The EBITDA margin consequently strengthened to 11.01%, against 9.93% in Q1 FY2026.
The bottom line delivered the biggest punch. PAT surged 165.59% to ₹7 crore, from ₹2.63 crore in the year-ago quarter, while PAT margin improved sharply to 4.94% from 2.69%.
As reported by the company, standalone PAT stood at ₹7.02 crore, while consolidated PAT was ₹7 crore for the quarter.
‘The 165%+ growth in PAT is particularly encouraging’
Kunj Shah, Chairman & Managing Director, Zodiac Energy Limited, attributed the strong opening quarter to the company’s strategy, execution capabilities and expanding opportunities in renewable energy.
“We are pleased with the strong performance delivered during the first quarter of FY2026-27. The significant improvement in revenue, EBITDA and PAT reflects the strength of our business strategy, execution capabilities and growing opportunities in the renewable energy sector.”
“The 165%+ growth in PAT, along with the improvement in EBITDA and PAT margins, is particularly encouraging,” Shah said.
He added that the company would remain focused on strengthening solar project execution capabilities, expanding its project portfolio and improving operational efficiency.
“With the continued growth in demand for renewable energy and energy storage sector, we see significant opportunities ahead and remain committed to delivering sustainable and profitable growth over the long term,” he said.
Solar PV-EPC powers the Q1 engine
The company’s Solar Photovoltaic Modules & EPC Contracts segment remained the principal growth driver, generating ₹137.86 crore revenue during Q1 FY2027.
The Generation of Power segment contributed another ₹5.01 crore during the quarter.
At the segment-result level, Solar PV Modules & EPC Contracts delivered ₹10.35 crore, while Generation of Power contributed ₹1.21 crore.
The performance underscores the growing importance of Zodiac Energy’s solar EPC and photovoltaic business as renewable-energy adoption accelerates.
Strategic solar expansion gathers pace
Zodiac Energy has also moved to consolidate its position in solar-project investments.
The Board approved 98% ownership in Umaputra Solar Projects LLP and Kripalu Solar Projects LLP, while increasing the company’s stake in Govind Solar Projects LLP and Harikrishna Solar Projects LLP from 15% to 98%, effective August 13, 2026.
The moves are aimed at strengthening the company’s participation in its solar-project portfolio and creating a broader platform for future renewable-energy growth.
Dividend, employee wealth creation add to the Q1 story
The Board fixed September 16, 2026 as the Record Date for the proposed ₹0.75 per share final dividend for FY2025-26, subject to shareholder approval at the company’s 34th Annual General Meeting on September 23, 2026 at 11.30 am.
Zodiac Energy also continued its employee-oriented initiatives during Q1 FY2027, allotting 28,043 equity shares of ₹10 face value to eligible employees under its Employee Stock Option Plan (ESOP).
With revenue accelerating, margins widening and profitability recording triple-digit growth, Zodiac Energy’s Q1 FY27 performance provides a strong opening signal for its renewable-energy growth strategy as it seeks to scale its solar project execution and tap the expanding energy-storage opportunity.
