Citizen Solar Limited - consumer electronics & durables in Ahmedabad, Gujarat, India. FY 2026 financials & compliance.
CIN L31100GJ1994PLC023561 Incorporated 14 November 1994 ROC Ahmedabad HQ Ahmedabad, Gujarat, India
Active Listed - BSE: 538786 Public Limited Company consumer electronics and durables
Data last updated
Market Cap
₹255 Cr
CITIZEN · BSE
Share Price
₹176.10
-3.19% today
Revenue
₹311 Cr
FY 2025-26 · +67.4% YoY
EBITDA
₹33.46 Cr
Margin 10.8%
Net Profit
₹22.77 Cr
FY 2025-26 · +93.8% YoY
P/E (TTM)
8.4x
P/B 4.3x
ROE
68.3%
ROCE 34.2%
Debt / Equity
1.89
Interest cover 7.8x

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

CIN L31100GJ1994PLC023561
Registration Number 023561
Incorporation Date 14 November 1994
ROC Ahmedabad
Listing Status Listed - Listed on BSE (538786)
Company Status Active
Date of Last AGM 12 September 2025
Date of Balance Sheet 31 March 2026
Compliance Status Active Compliant

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 NameStatus
Citizen Solar LimitedCurrent
Citizen Securities LtdPrevious

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.

CINStatus
L31100GJ1994PLC023561Current
L67120GJ1994PLC023561Previous

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
  • Social Media
  • Apps
  • Registered Address
    411 Sakar – II Ellisbridge Ashram Road Ahmedabad – 380006, Gujarat, India – 380006
  • Industry
    Consumer Electronics & Durables, Electronic Appliances Retail & Distribution

To see the full contact details of Citizen Solar Limited, buy the company report.

Comprehensive company report
Citizen Solar Limited - one report that includes everything
  • 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
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included

Brands

Citizen Solar operates one associated brand: Citizen Infoline. Each brand links to its own profile.

BrandDescriptionWebsite
Citizen's Yellow Pages – India's Largest Business Directorycitizeninfoline.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 codeMain activityBusiness activity codeBusiness activityShare of turnover
JInformation and communicationJ8Other 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 available

Citizen Solar Limited reported revenue of ₹310.92 Cr (up 67.4% YoY) for FY 2025-26.

Financial Highlights

FY 2025-26 · Standalone
Revenue
₹311 Cr
+67.4% YoY
EBITDA
₹33.46 Cr
+72.6% YoY
Profit After Tax
₹22.77 Cr
+93.8% YoY
Net Worth
₹41.88 Cr
+76.1% YoY
Total Assets
₹148 Cr
+252.4% YoY
Total Debt
₹106 Cr
+479.9% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue3111863.922.380.590.551.48
Revenue growth+67.4%+4637.0%+64.7%+303.4%+7.3%-62.8%-
EBITDA33.4619.39(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 tax30.1315.760.010.02(0.06)(0.12)(0.08)
Net profit22.7711.750.010.02(0.41)(0.13)(0.04)
Net profit margin+7.3%+6.3%+0.3%+0.8%-69.5%-23.6%-2.7%
EPS (₹)15.978.280.010.02(0.12)(0.21)(0.12)
Balance sheet
Total assets14842.134.604.594.584.654.83
Net worth41.8823.784.604.604.594.654.76
Total debt10618.260.000.000.000.000.00
Cash & bank1.590.800.010.020.020.030.11
Net working capital23.3415.520.140.030.020.03(0.02)
Cash flow
Cash from operations21.0222.96(0.09)0.04(0.04)(0.24)0.00
Cash from investing(102)(17.62)0.000.000.500.000.79
Cash from financing81.41(5.98)0.08(0.04)(0.46)0.16(0.70)
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue99.3676.771100.093.101090.500.94
Revenue growth (YoY)+3105.2%-29.4%--90.4%+70.3%---
Other income(0.22)0.140.920.000.000.100.110.10
Total expenses85.5668.3094.140.182.9389.690.611.03
EBITDA13.808.4715.63(0.09)0.1719.03(0.11)(0.09)
EBITDA margin+13.9%+11.0%+14.2%-100.0%+5.5%+17.5%-22.0%-9.6%
Depreciation0.600.600.500.000.000.500.000.00
Interest0.900.940.110.000.000.380.000.00
Profit before tax12.087.0715.94(0.09)0.1718.250.000.01
Tax2.301.301.930.000.003.050.010.00

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 07 Nov 2026
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue99.3676.771100.093.101090.500.94
Revenue growth (YoY)+3105.2%-29.4%--90.4%+70.3%---
Other income(0.22)0.140.920.000.000.100.110.10
Total expenses85.5668.3094.140.182.9389.690.611.03
EBITDA13.808.4715.63(0.09)0.1719.03(0.11)(0.09)
EBITDA margin+13.9%+11.0%+14.2%-100.0%+5.5%+17.5%-22.0%-9.6%
Depreciation0.600.600.500.000.000.500.000.00
Interest0.900.940.110.000.000.380.000.00
Profit before tax12.087.0715.94(0.09)0.1718.250.000.01
Tax2.301.301.930.000.003.050.010.00
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue3111863.922.380.590.551.48
Revenue growth+67.4%+4637.0%+64.7%+303.4%+7.3%-62.8%-
Other income1.120.620.380.330.570.410.41
Total expenses2771664.292.691.221.081.95
Employee cost5.903.440.320.140.470.641.15
EBITDA33.4619.39(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%
Depreciation2.001.700.000.000.000.000.00
Interest2.452.550.000.000.000.000.02
Profit before tax30.1315.760.010.02(0.06)(0.12)(0.08)
Tax7.694.130.000.000.000.00(0.02)
Net profit22.7711.750.010.02(0.41)(0.13)(0.04)
Net profit margin+7.3%+6.3%+0.3%+0.8%-69.5%-23.6%-2.7%
EPS (₹)15.978.280.010.02(0.12)(0.21)(0.12)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital14.0414.045.405.405.405.405.40
Reserves & surplus27.849.74(0.80)(0.80)(0.81)(0.75)(0.64)
Shareholders' funds (net worth)41.8823.784.604.604.594.654.76
Secured loans10618.260.000.000.000.000.00
Unsecured loans0.000.000.000.000.000.000.00
Total debt10618.260.000.000.000.000.00
Total liabilities14842.134.604.594.584.654.83
Assets
Gross block49.5926.780.000.000.000.000.00
Net block42.9322.130.000.000.000.000.00
Capital work in progress79.330.000.000.000.000.000.00
Investments0.000.440.440.440.440.940.94
Inventories9.7910.350.000.000.000.000.00
Sundry debtors10.636.580.000.000.000.000.10
Cash & bank balances1.590.800.010.020.020.030.11
Loans & advances29.3910.660.140.110.080.060.03
Total current assets51.4028.390.150.130.100.090.24
Total current liabilities28.0612.870.010.100.080.060.26
Net working capital23.3415.520.140.030.020.03(0.02)
Total assets14842.134.604.594.584.654.83
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash0.030.660.020.020.030.110.02
Net cash from operating activities21.0222.96(0.09)0.04(0.04)(0.24)0.00
Net cash from investing activities(102)(17.62)0.000.000.500.000.79
Net cash from financing activities81.41(5.98)0.08(0.04)(0.46)0.16(0.70)
Net change in cash0.05(0.63)(0.01)0.00(0.01)(0.09)0.09
Closing cash1.590.800.010.020.020.030.11
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 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 / equity1.890.640.000.000.000.000.03
Long-term debt / equity1.260.430.000.000.000.000.01
Interest cover7.7914.410.000.000.000.00-4.26
Efficiency & per share
Fixed asset turnover8.1413.870.000.000.000.001.90
Inventory turnover30.8835.880.000.000.000.000.00
Debtors turnover36.1356.440.000.000.0011.0026.91
EPS (₹)15.978.280.010.02(0.12)(0.21)(0.12)
Dividend per share (₹)0.000.000.000.000.000.000.00
Book value per share (₹)29.8216.938.538.518.498.618.82

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.

Current Directors
NameDesignationAppointment DateTenureStatus
Omprakash Lalchand JainManaging Director14 Nov 199431 Years 11 MonthsCurrent
Chirag Hemendrakumar JirawalaDirector10 Jul 20251 Years 3 MonthsCurrent
Ashadevi Nathmal GogadDirector10 Jul 20251 Years 3 MonthsCurrent
Tansukhraj Lalchand JainDirector28 May 20260 Years 5 MonthsCurrent
Harsh Omprakash JainDirector28 May 20260 Years 5 MonthsCurrent
Hareshkumar Jivanlal ParmarDirector28 May 20260 Years 5 MonthsCurrent
Showing 6 of 8 current directors. View all directors

Auditor

Citizen Solar Limited is audited by KRUTESH PATEL & ASSOCIATES for the financial year 2023.

Auditor firmFinancial yearFirm registration number
KRUTESH PATEL & ASSOCIATESFY 2023100865W

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%.

Promoters: 13.40%DII (Domestic Institutional): 0.20%Retail & Others: 86.50%
Sep 2026
QUARTER
13.40% Promoters
0.20% DII (Domestic Institutional)
86.50% Retail & Others
Promoter holding - history
Now 13.40% · Sep 2026High 34.80% · Dec 2025Low 13.40% · Sep 2026
12%18%24%30%36%Dec 2025Mar 2026Jun 2026Sep 2026Dec 2025: 34.80%Mar 2026: 34.80%Jun 2026: 34.80%Sep 2026: 13.40%34.80%13.40%
Shareholding trend - last 6 quarters
Sep 2026Jun 2026Mar 2026Dec 2025
Promoters13.40%34.80%34.80%34.80%
Public86.60%65.20%65.20%65.20%

Charges & borrowings

Open charges
₹140.88 Cr
Satisfied charges
₹2.46 Cr
Breakdown by lending institutions
Hdfc Bank Limited₹140.88 Cr
Latest charge details
DateCharge IDLenderAmountStatusModified or satisfied on
29 Oct 2019100299006Hdfc Bank Limited₹140.88 CrOpen
28 Oct 201010247087Dena Bank₹75 LakhSatisfied
11 Nov 200910186255Hdfc Bank Limited₹1.41 CrSatisfied
07 Aug 200490094481Punjab National Bank₹15 LakhSatisfied
29 Jul 200490095396Punjab National Bank₹15 LakhSatisfied

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.

Total deals
4
Market trades
4

Deals on record (4 of 4)

WhenDealAmountParties
May 2023Market trade₹5.9 LakhSeller: an individual
Mar 2022Market trade₹12.2 LakhBuyer: an individual
Jan 2017Market trade₹4.1 LakhBuyer: an individual
Seller: an individual
Nov 2016Market trade₹6.6 LakhBuyer: an individual
Seller: an individual

Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.

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.

Employee count
1
Active EPFO establishments
1

GST

Citizen Solar has 3 GST registrations: 1 active and 2 cancelled or inactive.

Total GSTINs
3
Active
1
Cancelled / inactive
2
GSTINStateStatusRegistered on
24AAACC7713R1ZDGujaratActive01 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.

Appointed
Hareshkumar Jivanlal Parmar was appointed as Director.
Appointed
Harsh Omprakash Jain was appointed as Director.
Appointed
Sagar Tansukhraj Jain was appointed as Director.
Appointed
Tansukhraj Lalchand Jain was appointed as Director.
Appointed
Vikash Madanlal Agrawal was appointed as Director.
Filing
Citizen Solar Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Ahmedabad.
AGM
Citizen Solar Limited last Annual general meeting of members was held on 12 Sep 2025 as per latest MCA records.
Charges
A charge with Hdfc Bank Limited of Rs. 140.88 Cr registered on 29 Oct 2019 with Charge ID 100299006 was modified on 20 Aug 2025.
Ceased
Kasturi Ravindra Jain ceased to be Director.
Ceased
Mitesh Ashokkumar Jain ceased to be Director.
Ceased
Sandeep Motilal Jain ceased to be Director.
Ceased
Vikas Hemendrakumar Jirawala ceased to be Director.

37 earlier events are in the company report.

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:

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.