AHASOLAR TECHNOLOGIES LIMITED

About

Ahasolar Technologies Limited develops a software as a service for solar companies to streamline the processes in India. The company provides Aha Solar helper, a project management software and a software for solar PV installers to manage and design projects; Aha marketplace which buys and sells solar products and services; Aha Advisory, which includes transaction advisory and technical consultancy for RE projects; and Aha Energy for fractional ownership of RE assets and decentralized solar scale. It also offers solar calculator, a common platform for end consumers and Solar PV Installers. The company was formerly known as AHAsolar Technologies Private Limited. Ahasolar Technologies Limited was incorporated in 2017 and is based in Ahmedabad, India.

Quarterly Results

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Profit & Loss

Annual · Rs. Crores

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018
Sales	10.99	39.00	42.04	20.87	17.30	1.88	1.29	0.18	0.00
Expenses	10.50	40.10	42.16	19.08	16.19	1.77	1.27	0.18	0.01
Operating Profit	0.49	-1.10	-0.12	1.79	1.11	0.11	0.02	0.00	-0.01
OPM %	4.46	-2.82	-0.29	8.58	6.42	5.85	1.55	0.00	—
Other Income	0.18	0.51	0.48	0.01	0.01	0.00	0.00	0.00	0.00
Interest	0.05	0.08	0.01	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation	0.34	0.38	0.30	0.21	0.03	0.00	0.00	0.00	0.00
Profit before tax	0.28	-1.05	0.05	1.59	1.09	0.11	0.02	0.00	-0.01
Tax %	42.86	-2.86	20.00	-0.63	27.52	27.27	0.00	—	0.00
Net Profit	0.17	-1.02	0.04	1.60	0.79	0.08	0.02	0.01	-0.01
EPS in Rs	0.55	-3.31	0.13	7.07	790.00	80.00	20.00	10.00	-100.00
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Balance Sheet

Annual · Rs. Crores — latest first

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018
Equity Capital	3.08	3.08	3.08	2.26	0.01	0.01	0.01	0.01	0.00
Reserves	11.80	11.63	12.64	1.72	0.88	0.09	0.01	-0.01	-0.01
Borrowings	0.06	0.71	0.00	0.00	0.58	0.24	0.23	0.01	0.01
Other Liabilities	2.71	2.80	1.71	1.23	0.95	0.51	1.14	0.09	0.01
Total Liabilities	17.65	18.22	17.43	5.21	2.42	0.85	1.39	0.10	0.01
Fixed Assets	1.07	1.16	0.96	0.78	0.54	0.02	0.02	0.00	0.00
CWIP	8.57	2.03	0.96	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.01	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	8.00	15.02	15.51	4.43	1.88	0.83	1.37	0.10	0.01
Total Assets	17.65	18.22	17.43	5.21	2.42	0.85	1.39	0.10	0.01

Cash Flows

Annual · Rs. Crores — latest first

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020
Cash from Operating Activity	1.74	-1.84	-1.42	-0.27	0.21	0.10	-0.20
Cash from Investing Activity	-4.02	2.07	-7.77	-0.44	-0.53	-0.01	-0.02
Cash from Financing Activity	-0.70	0.63	11.69	0.92	0.34	0.01	0.22
Net Cash Flow	-2.97	0.86	2.50	0.21	0.02	0.11	0.00
Free Cash Flow	-5.04	-3.49	-2.86	-0.72	-0.33	0.09	-0.22
CFO/OP %	392.00	143.00	1,000.00	11.00	44.00	91.00	-1,000.00

Ratios

Annual · Days / % — latest first

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019
Debtor Days	132.18	56.90	39.16	49.32	33.12	40.77	99.03	20.28
Inventory Days	4.15	0.26	0.21	0.00	0.00	0.00	—	60.83
Days Payable	138.95	7.93	2.36	—	—	—	—	243.33
Cash Conversion Cycle	-2.62	49.23	37.00	49.32	33.12	40.77	99.03	-162.22
Working Capital Days	117.57	38.00	34.82	42.15	15.19	19.41	-144.30	-60.83
ROCE %	2.17	-6.23	0.61	58.35	120.44	37.29	15.38	0.00

Shareholding Pattern

% holding — latest first

Holder	Mar 2026	Sep 2025	Mar 2025	Sep 2024	Mar 2024	Sep 2023
Promoters	36.95	36.95	36.95	36.95	36.95	36.95
Public	63.04	63.05	63.04	63.06	63.05	63.04
No. of Shareholders	1,014	1,172	1,192	1,145	880	500

Corporate Actions

No corporate actions recorded.

Announcements

5 filings

Announcement under Regulation 30 (LODR)-Newspaper Publication
05 Sep 2026 5 Sep - Newspaper Advertisement - Notice of 9th AGM, Intimation of Record Date and E-Voting Information etc.
Announcement under Regulation 30 (LODR)-Newspaper Publication
02 Sep 2026 2 Sep - Newspaper Advertisement - 9th Annual General Meeting through Video conferencing / other Audio - Visual means (VC/OVM) facility
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
31 Aug 2026 31 Aug - Received consultancy work order from NLC India Renewables for 600MW solar project with 300MW/1800MWh ESS in Rajasthan.
Notice Of 09Th Annual General Meeting
31 Aug 2026 31 Aug - AHASOLAR’s 9th AGM on 28 September 2026; shareholders to adopt FY26 results and appoint directors.
Reg. 34 (1) Annual Report.
31 Aug 2026 31 Aug - 9th Annual Report 2025-26 and AGM notice filed; consolidated revenue rose 58.6% to Rs 91.97 crore.