
About Citizen Solar Limited
Data last updated:
Citizen Solar Limited is a public limited company based in Ahmedabad, Gujarat, India. It operates in the electronics retail and distribution segment of the consumer electronics and durables sector. It was incorporated on 14 November 1994 and has been in existence for over 32 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN L31100GJ1994PLC023561. Its GSTIN is 24AAACC7713R1ZD (Gujarat). The company holds 3 GST registrations, of which 1 is active. It is a listed company as per MCA records. Its shares are listed on BSE: 538786.
The company has an authorised share capital of ₹15.5 Cr and a paid-up capital of ₹14.04 Cr. It was formerly known as Citizen Securities Ltd. It is led by directors including Omprakash Lalchand Jain (Managing Director) and Chirag Hemendrakumar Jirawala.
Its last annual general meeting (AGM) was held on 12 September 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at 411 Sakar – II Ellisbridge Ashram Road Ahmedabad – 380006, Gujarat, India – 380006.
As per the latest standalone financials for FY 2025-26, the company reported a revenue of ₹310.92 Cr, a growth of 67.4% compared to the previous year. For the same year it recorded a net profit of ₹22.77 Cr (net margin 7.3%) and EBITDA of ₹33.46 Cr (EBITDA margin 10.8%). The net worth stands at ₹41.88 Cr (up 76.1% YoY). Total assets are valued at ₹148.48 Cr (up 252.4% YoY).
The company has about 1 employee on its provident fund (EPFO) records.
The company is associated with 1 brand: Citizen Infoline. As per MCA filings, the company has open charges of ₹140.88 Cr and satisfied charges of ₹2.46 Cr on record. Court records list 15 cases involving the company, including 8 filed by the company and 7 filed against it. The company has 4 deals on record (4 market trades); the latest was in May 2023.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website citizeninfoline.com.
Company details
Name history
Citizen Solar has undergone 2 name changes throughout its history. The company was previously known as Citizen Securities Ltd, and Citizen Solar Limited. The current legal name is Citizen Solar Limited.
| Company Name | Status |
|---|---|
| Citizen Solar Limited | Current |
| Citizen Securities Ltd | Previous |
CIN history
Citizen Solar has one previous CIN (Corporate Identification Number): L67120GJ1994PLC023561. The current CIN is L31100GJ1994PLC023561, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L31100GJ1994PLC023561 | Current |
| L67120GJ1994PLC023561 | Previous |
Contact details
Citizen Solar Limited's registered office is in Ahmedabad, Gujarat. Its website is citizeninfoline.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Apps
- Registered Address411 Sakar – II Ellisbridge Ashram Road Ahmedabad – 380006, Gujarat, India – 380006
- IndustryConsumer Electronics & Durables, Electronic Appliances Retail & Distribution
To see the full contact details of Citizen Solar Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Brands
Citizen Solar operates one associated brand: Citizen Infoline. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Citizen's Yellow Pages – India's Largest Business Directory | citizeninfoline.com |
Business activity
The main business activity of Citizen Solar is information and communication. In detail, this covers other information & communication service activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| J | Information and communication | J8 | Other information & communication service activities |
To see the full business activity and turnover split of Citizen Solar Limited, buy the company report.
Financials of Citizen Solar Limited
FY 2025-26 filings availableCitizen Solar Limited reported revenue of ₹310.92 Cr (up 67.4% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · StandaloneRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 311 | 186 | 3.92 | 2.38 | 0.59 | 0.55 | 1.48 |
| Revenue growth | +67.4% | +4637.0% | +64.7% | +303.4% | +7.3% | -62.8% | - |
| EBITDA | 33.46 | 19.39 | (0.37) | (0.31) | (0.63) | (0.53) | (0.47) |
| EBITDA margin | +10.8% | +10.4% | -9.4% | -13.0% | -106.8% | -96.4% | -31.8% |
| Profit before tax | 30.13 | 15.76 | 0.01 | 0.02 | (0.06) | (0.12) | (0.08) |
| Net profit | 22.77 | 11.75 | 0.01 | 0.02 | (0.41) | (0.13) | (0.04) |
| Net profit margin | +7.3% | +6.3% | +0.3% | +0.8% | -69.5% | -23.6% | -2.7% |
| EPS (₹) | 15.97 | 8.28 | 0.01 | 0.02 | (0.12) | (0.21) | (0.12) |
| Balance sheet | |||||||
| Total assets | 148 | 42.13 | 4.60 | 4.59 | 4.58 | 4.65 | 4.83 |
| Net worth | 41.88 | 23.78 | 4.60 | 4.60 | 4.59 | 4.65 | 4.76 |
| Total debt | 106 | 18.26 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash & bank | 1.59 | 0.80 | 0.01 | 0.02 | 0.02 | 0.03 | 0.11 |
| Net working capital | 23.34 | 15.52 | 0.14 | 0.03 | 0.02 | 0.03 | (0.02) |
| Cash flow | |||||||
| Cash from operations | 21.02 | 22.96 | (0.09) | 0.04 | (0.04) | (0.24) | 0.00 |
| Cash from investing | (102) | (17.62) | 0.00 | 0.00 | 0.50 | 0.00 | 0.79 |
| Cash from financing | 81.41 | (5.98) | 0.08 | (0.04) | (0.46) | 0.16 | (0.70) |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 99.36 | 76.77 | 110 | 0.09 | 3.10 | 109 | 0.50 | 0.94 |
| Revenue growth (YoY) | +3105.2% | -29.4% | - | -90.4% | +70.3% | - | - | - |
| Other income | (0.22) | 0.14 | 0.92 | 0.00 | 0.00 | 0.10 | 0.11 | 0.10 |
| Total expenses | 85.56 | 68.30 | 94.14 | 0.18 | 2.93 | 89.69 | 0.61 | 1.03 |
| EBITDA | 13.80 | 8.47 | 15.63 | (0.09) | 0.17 | 19.03 | (0.11) | (0.09) |
| EBITDA margin | +13.9% | +11.0% | +14.2% | -100.0% | +5.5% | +17.5% | -22.0% | -9.6% |
| Depreciation | 0.60 | 0.60 | 0.50 | 0.00 | 0.00 | 0.50 | 0.00 | 0.00 |
| Interest | 0.90 | 0.94 | 0.11 | 0.00 | 0.00 | 0.38 | 0.00 | 0.00 |
| Profit before tax | 12.08 | 7.07 | 15.94 | (0.09) | 0.17 | 18.25 | 0.00 | 0.01 |
| Tax | 2.30 | 1.30 | 1.93 | 0.00 | 0.00 | 3.05 | 0.01 | 0.00 |
Financial Statements
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 99.36 | 76.77 | 110 | 0.09 | 3.10 | 109 | 0.50 | 0.94 |
| Revenue growth (YoY) | +3105.2% | -29.4% | - | -90.4% | +70.3% | - | - | - |
| Other income | (0.22) | 0.14 | 0.92 | 0.00 | 0.00 | 0.10 | 0.11 | 0.10 |
| Total expenses | 85.56 | 68.30 | 94.14 | 0.18 | 2.93 | 89.69 | 0.61 | 1.03 |
| EBITDA | 13.80 | 8.47 | 15.63 | (0.09) | 0.17 | 19.03 | (0.11) | (0.09) |
| EBITDA margin | +13.9% | +11.0% | +14.2% | -100.0% | +5.5% | +17.5% | -22.0% | -9.6% |
| Depreciation | 0.60 | 0.60 | 0.50 | 0.00 | 0.00 | 0.50 | 0.00 | 0.00 |
| Interest | 0.90 | 0.94 | 0.11 | 0.00 | 0.00 | 0.38 | 0.00 | 0.00 |
| Profit before tax | 12.08 | 7.07 | 15.94 | (0.09) | 0.17 | 18.25 | 0.00 | 0.01 |
| Tax | 2.30 | 1.30 | 1.93 | 0.00 | 0.00 | 3.05 | 0.01 | 0.00 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 311 | 186 | 3.92 | 2.38 | 0.59 | 0.55 | 1.48 |
| Revenue growth | +67.4% | +4637.0% | +64.7% | +303.4% | +7.3% | -62.8% | - |
| Other income | 1.12 | 0.62 | 0.38 | 0.33 | 0.57 | 0.41 | 0.41 |
| Total expenses | 277 | 166 | 4.29 | 2.69 | 1.22 | 1.08 | 1.95 |
| Employee cost | 5.90 | 3.44 | 0.32 | 0.14 | 0.47 | 0.64 | 1.15 |
| EBITDA | 33.46 | 19.39 | (0.37) | (0.31) | (0.63) | (0.53) | (0.47) |
| EBITDA margin | +10.8% | +10.4% | -9.4% | -13.0% | -106.8% | -96.4% | -31.8% |
| Depreciation | 2.00 | 1.70 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest | 2.45 | 2.55 | 0.00 | 0.00 | 0.00 | 0.00 | 0.02 |
| Profit before tax | 30.13 | 15.76 | 0.01 | 0.02 | (0.06) | (0.12) | (0.08) |
| Tax | 7.69 | 4.13 | 0.00 | 0.00 | 0.00 | 0.00 | (0.02) |
| Net profit | 22.77 | 11.75 | 0.01 | 0.02 | (0.41) | (0.13) | (0.04) |
| Net profit margin | +7.3% | +6.3% | +0.3% | +0.8% | -69.5% | -23.6% | -2.7% |
| EPS (₹) | 15.97 | 8.28 | 0.01 | 0.02 | (0.12) | (0.21) | (0.12) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 14.04 | 14.04 | 5.40 | 5.40 | 5.40 | 5.40 | 5.40 |
| Reserves & surplus | 27.84 | 9.74 | (0.80) | (0.80) | (0.81) | (0.75) | (0.64) |
| Shareholders' funds (net worth) | 41.88 | 23.78 | 4.60 | 4.60 | 4.59 | 4.65 | 4.76 |
| Secured loans | 106 | 18.26 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Unsecured loans | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total debt | 106 | 18.26 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total liabilities | 148 | 42.13 | 4.60 | 4.59 | 4.58 | 4.65 | 4.83 |
| Assets | |||||||
| Gross block | 49.59 | 26.78 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net block | 42.93 | 22.13 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Capital work in progress | 79.33 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 0.00 | 0.44 | 0.44 | 0.44 | 0.44 | 0.94 | 0.94 |
| Inventories | 9.79 | 10.35 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sundry debtors | 10.63 | 6.58 | 0.00 | 0.00 | 0.00 | 0.00 | 0.10 |
| Cash & bank balances | 1.59 | 0.80 | 0.01 | 0.02 | 0.02 | 0.03 | 0.11 |
| Loans & advances | 29.39 | 10.66 | 0.14 | 0.11 | 0.08 | 0.06 | 0.03 |
| Total current assets | 51.40 | 28.39 | 0.15 | 0.13 | 0.10 | 0.09 | 0.24 |
| Total current liabilities | 28.06 | 12.87 | 0.01 | 0.10 | 0.08 | 0.06 | 0.26 |
| Net working capital | 23.34 | 15.52 | 0.14 | 0.03 | 0.02 | 0.03 | (0.02) |
| Total assets | 148 | 42.13 | 4.60 | 4.59 | 4.58 | 4.65 | 4.83 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 0.03 | 0.66 | 0.02 | 0.02 | 0.03 | 0.11 | 0.02 |
| Net cash from operating activities | 21.02 | 22.96 | (0.09) | 0.04 | (0.04) | (0.24) | 0.00 |
| Net cash from investing activities | (102) | (17.62) | 0.00 | 0.00 | 0.50 | 0.00 | 0.79 |
| Net cash from financing activities | 81.41 | (5.98) | 0.08 | (0.04) | (0.46) | 0.16 | (0.70) |
| Net change in cash | 0.05 | (0.63) | (0.01) | 0.00 | (0.01) | (0.09) | 0.09 |
| Closing cash | 1.59 | 0.80 | 0.01 | 0.02 | 0.02 | 0.03 | 0.11 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +67.4% | +4637.0% | +64.7% | +303.4% | +7.3% | -62.8% | - |
| EBITDA growth | +72.6% | +5340.5% | -19.4% | +50.8% | -18.9% | -12.8% | - |
| PBT growth | +91.2% | - | -50.0% | +9998.0% | +50.0% | -50.0% | -700.0% |
| Net income growth | +93.8% | - | -50.0% | +104.9% | -215.4% | -225.0% | - |
| Revenue CAGR (3Y) | +407.4% | +580.2% | +92.5% | +17.2% | -37.7% | -42.4% | -24.1% |
| EBITDA CAGR (3Y) | - | - | -11.3% | -13.0% | +42.0% | +160.5% | +73.5% |
| Profitability & leverage | |||||||
| Net income margin | +7.2% | +6.3% | +0.3% | +0.8% | -10.2% | -21.8% | -4.1% |
| Return on capital employed | +34.2% | +77.1% | +0.2% | +0.2% | 0.0% | 0.0% | 0.0% |
| Return on net worth | +68.3% | +79.7% | +0.2% | +0.2% | 0.0% | 0.0% | 0.0% |
| Debt / equity | 1.89 | 0.64 | 0.00 | 0.00 | 0.00 | 0.00 | 0.03 |
| Long-term debt / equity | 1.26 | 0.43 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 |
| Interest cover | 7.79 | 14.41 | 0.00 | 0.00 | 0.00 | 0.00 | -4.26 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 8.14 | 13.87 | 0.00 | 0.00 | 0.00 | 0.00 | 1.90 |
| Inventory turnover | 30.88 | 35.88 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debtors turnover | 36.13 | 56.44 | 0.00 | 0.00 | 0.00 | 11.00 | 26.91 |
| EPS (₹) | 15.97 | 8.28 | 0.01 | 0.02 | (0.12) | (0.21) | (0.12) |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 29.82 | 16.93 | 8.53 | 8.51 | 8.49 | 8.61 | 8.82 |
To see the full year-wise statements and ratios of Citizen Solar Limited, buy the company report.
Board of directors of Citizen Solar Limited
Citizen Solar has 8 current directors and 15 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Omprakash Lalchand Jain Also directs: Citizen Solar Private Limited | Managing Director | 14 Nov 1994 | 31 Years 11 Months | Current |
| Chirag Hemendrakumar Jirawala | Director | 10 Jul 2025 | 1 Years 3 Months | Current |
| Ashadevi Nathmal Gogad | Director | 10 Jul 2025 | 1 Years 3 Months | Current |
| Tansukhraj Lalchand Jain Also directs: Citizen Solar Private Limited | Director | 28 May 2026 | 0 Years 5 Months | Current |
| Harsh Omprakash Jain Also directs: Citizen Solar Private Limited | Director | 28 May 2026 | 0 Years 5 Months | Current |
| Hareshkumar Jivanlal Parmar | Director | 28 May 2026 | 0 Years 5 Months | Current |
Auditor
Citizen Solar Limited is audited by KRUTESH PATEL & ASSOCIATES for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| KRUTESH PATEL & ASSOCIATES | FY 2023 | 100865W |
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 13.40%, foreign institutional investors hold 0.00%, domestic institutional investors hold 0.20% and retail and other public shareholders hold 86.50%.
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 13.40% | 34.80% | 34.80% | 34.80% |
| Public | 86.60% | 65.20% | 65.20% | 65.20% |
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 29 Oct 2019 | 100299006 | Hdfc Bank Limited | ₹140.88 Cr | Open | |
| 28 Oct 2010 | 10247087 | Dena Bank | ₹75 Lakh | Satisfied | |
| 11 Nov 2009 | 10186255 | Hdfc Bank Limited | ₹1.41 Cr | Satisfied | |
| 07 Aug 2004 | 90094481 | Punjab National Bank | ₹15 Lakh | Satisfied | |
| 29 Jul 2004 | 90095396 | Punjab National Bank | ₹15 Lakh | Satisfied |
To see the full charge records of Citizen Solar Limited, buy the company report.
Total charge records: 5 View all charges
Deals & funding
Citizen Solar Limited has 4 deals on record (4 market trades); the latest was in May 2023.
Deals on record (4 of 4)
| When | Deal | Amount | Parties |
|---|---|---|---|
| May 2023 | Market trade | ₹5.9 Lakh | Seller: an individual |
| Mar 2022 | Market trade | ₹12.2 Lakh | Buyer: an individual |
| Jan 2017 | Market trade | ₹4.1 Lakh | Buyer: an individual Seller: an individual |
| Nov 2016 | Market trade | ₹6.6 Lakh | Buyer: an individual Seller: an individual |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Citizen Solar Limited has 15 court cases on record: 8 filed by Citizen Solar, 7 filed against it. All cases are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 9 | 5 | 0 |
| High courts | 6 | 2 | 0 |
Cases on record (5 of 15)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Ahmedabad, Gujarat | Court case (CS CCC) | Filed by the company against Namastey Info Services Pvt. Ltd. and 9 others | Disposed |
| District court, Ahmedabad, Gujarat | Court case (CS CCC) | Filed by the company against Tata Teleservices Limited, | Disposed |
| District court, Ahmedabad, Gujarat | Court case (PWAPP LC) | Filed against the company by an individual | Disposed |
| District court, Ahmedabad, Gujarat | Court case (REFERENCE D LC) | Filed against the company by an individual | Disposed |
| District court, Ahmedabad, Gujarat | Court case (REFERENCE T LC) | Filed against the company by an individual | Disposed |
To see the full case history of Citizen Solar Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Citizen Solar Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Citizen Solar Limited has a workforce of 1 employees on its EPFO records as of Apr 01, 2024, across 1 active EPFO establishment.
GST
Citizen Solar has 3 GST registrations: 1 active and 2 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAACC7713R1ZD | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Citizen Solar Limited, buy the company report.
Recent activity
Citizen Solar Limited has 35 board changes on record since 1994: 22 appointments and 13 cessations. The latest: Hareshkumar Jivanlal Parmar was appointed as Director on 28 May 2026.
37 earlier events are in the company report.
News
Frequently asked questions
Citizen Solar is an active public limited company based in Ahmedabad, Gujarat, India. The company works in electronic appliances retail and distribution, within the consumer electronics and durables industry. It was incorporated on 14 November 1994 (32+ years old) and is registered under CIN L31100GJ1994PLC023561. Listed on BSE: 538786.
Citizen Solar reported revenue of ₹310.92 Cr for FY 2025-26 (up 67.4% YoY) based on standalone financials.
Citizen Solar has 8 current directors:
- Omprakash Lalchand Jain - Managing Director
- Chirag Hemendrakumar Jirawala - Director
- Ashadevi Nathmal Gogad - Director
- Tansukhraj Lalchand Jain - Director
- Harsh Omprakash Jain - Director
- Hareshkumar Jivanlal Parmar - Director
- Sagar Tansukhraj Jain - Director
- Vikash Madanlal Agrawal - Director
The latest financial statements of Citizen Solar on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 12 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Citizen Solar is 24AAACC7713R1ZD, registered in Gujarat. The company has 3 GST registrations in all, of which 1 is active and 2 are cancelled or inactive.
The CIN (Corporate Identification Number) of Citizen Solar is L31100GJ1994PLC023561. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Citizen Solar is a listed company as per MCA records. Its shares are listed on BSE (code: 538786).
Citizen Solar has 15 court cases on record: 8 filed by the company and 7 filed against it. Most are in the district courts.
Citizen Solar was incorporated on 14 November 1994, making it 32+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Citizen Solar has 4 deals on record (4 market trades); the latest was in May 2023.

