Deon Energy Awards ₹14.49-Crore Solar Module Contract to Gujarat Inject Kerala.

Gujarat Inject Kerala Ltd (BSE: 524238), which is in the process of rebranding as Regenova Renewtech Ltd, has secured a purchase order worth approximately ₹14.49 crore (excluding GST) from Deon Energy Ltd for the supply of 16,129 solar PV modules with 620 WP capacity.

The company said the order marks a key milestone in its ongoing expansion into the renewable energy and solar solutions segment, strengthening its position in India’s fast-growing solar infrastructure market.

The latest contract follows a series of similar solar PV module orders secured from clients including Earthwave Technology, Perfect Renewtech and Surja Infra. With the addition of the Deon Energy order, the company said it continues to build a strong order pipeline and expand its footprint in the clean energy sector.

The order comes alongside a period of strong financial performance for the company in FY26. Revenue from operations nearly doubled to ₹36.32 crore from ₹19.05 crore in FY25, reflecting a year-on-year growth of about 91 per cent. Net profit rose to ₹1.81 crore from ₹1.02 crore in the previous year, a growth of around 78 per cent.

For Q4FY26, the company reported revenue of ₹30.70 crore compared with ₹4.24 crore in the same quarter last year, while profit after tax increased to ₹1.64 crore from ₹0.07 crore. Profit before tax for FY26 stood at ₹2.50 crore versus ₹1.25 crore in FY25, and earnings per share improved to ₹1.24 from ₹0.70.

The company’s diversification into solar PV modules and renewable energy operations has emerged as a key growth driver, supported by strong policy backing and rising demand in India’s clean energy sector.

Commenting on the development, Executive Director Deepak Diwan Bachwani said the order reflects growing customer confidence and reinforces the company’s focus on building a scalable solar solutions platform.

“As India continues to accelerate its transition towards clean energy, we believe the renewable energy sector presents substantial long-term opportunities,” he said. “Our focus remains on timely execution, strengthening customer relationships and expanding our participation across the solar ecosystem.”

As part of its business transformation, the company has also received approval for a name change to Regenova Renewtech Ltd, reflecting its strategic shift towards renewable energy and future-focused sectors.

With a strengthening order book and improving financial performance, the company said it remains well-positioned to benefit from growing demand for solar infrastructure and renewable energy solutions in India.