Zodiac Energy Limited – New Solar EPC Order

Announcement Date: 29 April 2026
Order Value: ₹5.44 50,000 (exclusive of GST) ≈ ₹5.45 Cr

Overview

• Client: Confidential domestic entity (non‑listed, India)
• Project: Supply, installation & commissioning of a 1.87 MWp ground‑mounted solar PV plant in Rajkot, Gujarat
• Policy Framework: Open‑access under Gujarat Renewable Power Policy 2024
• Execution Timeline: Approximately 6 months from award

Financial Impact

• Direct revenue contribution of ~₹5.45 Cr, a modest addition to the company's annual turnover.
• Cash flow will be realized as milestones are met during the six‑month execution period.
• No impact on existing debt covenants or capital structure.

Strategic Significance

• Pipeline Growth: Enhances the order book, signalling continued demand for Zodiac’s EPC capabilities.
• Geographic Focus: Strengthens presence in Gujarat, a key solar hub with supportive state policies.
• Policy Alignment: The project leverages the Gujarat Renewable Power Policy 2024, underscoring Zodiac’s ability to operate within evolving regulatory frameworks.

Regulatory & Compliance

• The contract is an ordinary‑course‑business transaction with a domestic, non‑listed counter‑party.
• No related‑party or promoter interest; therefore, no additional compliance or disclosure burdens.

Execution Risks & Mitigation

• Timeline Risk: Six‑month delivery window is tight but achievable given Zodiac’s prior experience.
• Supply Chain: No specific material shortages reported; standard EPC procurement channels will be used.
• Regulatory Risk: Minimal, as the project complies with state renewable‑energy policy.

Investor Takeaway

• Opportunity: Incremental revenue and validation of Zodiac’s EPC model in a high‑growth renewable segment.
• Risk: Limited size of the contract means modest short‑term earnings impact; execution risk is low.
• Outlook: The order supports a moderately positive outlook (score 7/10), reinforcing confidence in Zodiac’s growth trajectory without materially altering its financial profile.

Prepared for investors on 29 April 2026.