During Friday’s trading session, the shares of one of India’s leading solar panel manufacturers and EPC service providers surged nearly 0.5 percent to hit an intraday high at Rs. 431 on NSE.
With a market cap of Rs. 1,051.4 crores, the shares of Ganesh Green Bharat Limited closed in the red at Rs. 423.95 on NSE, down by nearly 1.2 percent, as against its previous closing price of Rs. 428.75.
Capacity Expansion
The company plans to expand its capacity from the current 236 MW to 750 MW by the end of CY24. To support this expansion, an order has been placed for the necessary equipment.
Currently, the company produces between 2,500 and 3,000 modules per day, generating a revenue potential of Rs. 50-60 crores monthly.
Order Book
As of H1 FY25, the company’s order book stood at Rs. 295 crores, a decrease from Rs. 313 crores in July 2024. The current orders primarily consist of smaller orders valued around Rs. 3-5 crores each.
The management anticipates an increase in order volumes starting in November/December, in line with seasonal government tendering cycles.
Additionally, the company has participated in a tender valued at Rs. 2,400-2,500 crores, with the goal of securing Rs. 500-650 crores in orders over the next two years.
Management Guidance
The company’s EBITDA margin has reduced from 21 percent to 16 percent, primarily due to a higher proportion of lower-margin solar module sales compared to EPC contracts.
Management expects margins to stabilize between 16 percent and 20 percent as the share of EPC work increases, with an average margin of 18-19 percent anticipated by the end of the year.
The company is optimistic about achieving a turnover target of Rs. 300-350 crores for FY25 and expects to double its revenues annually.
Additionally, there are plans to explore expansion into lithium battery manufacturing, leveraging past experience and government support for backup power systems.
The long-term vision includes reaching a turnover of Rs. 3,500-4,000 crores over the next 4-5 years, driven by consistent growth in solar energy and related services.
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Recent Orders
2nd January 2025: Ganesh Green Bharat secured an order worth Rs. 13.93 crores from the Bihar Renewable Energy Development Agency (BREDA). The order involves the empanelment of executing agencies to design, supply, install, test, and commission a Smart Solar Street Light System on existing electric poles across various blocks in Bihar.
The project also includes a Comprehensive Maintenance Contract (CMC) for five years, along with the installation of a Remote Monitoring Syst (RMS).
31st January 2025: The company received a work order worth Rs. 78.7 crores from a Gujarat-based company Solberry Energy Private Limited for 50 MW for the supply of Solar PV Panel Module (590 Wp) in Gujarat.
Financials
Ganesh Green Bharat reported a significant growth in the revenue fr operations, experiencing a rise of nearly 134.7 percent YoY, increasing from Rs. 58.7 crores in H1 FY24 to Rs. 137.8 crores in H1 FY25.
Similarly, during the same period, the company’s net profit increased fr Rs. 6.8 crores to Rs. 13.3 crores, representing a growth of around 95.6 percent YoY.
EBITDA for H1 FY25 rose to Rs. 22.7 crores, reflecting a robust 78 perce YoY compared to Rs. 12.7 crores in H1 FY25, while the EBITDA margin decreased by 535 bps, from 21.6 percent to 16.3 percent, over the same period.
About the Company
Incorporated in 2016, Ganesh Green Bharat Limited specializes in Solar PV Module manufacturing, Solar Systems and Allied Services, Electrical Contracting, and Water Supply Scheme Projects.
Written by Shivani Singh
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During Friday’s trading session, the shares of one of India’s leading solar panel manufacturers and EPC service providers surged nearly 0.5 percent to hit an intraday high at Rs. 431 on NSE. With a market cap of Rs. 1,051.4 crores, the shares of Ganesh Green Bharat Limited closed in the red at Rs. 423.95 on
The post Green energy stock with revenue guidance of ₹4000 Cr for next 5 yrs to keep an eye on appeared first on Trade Brains. Read MoreNews, Stocks, Ganesh Green Bharat Limited, Ganesh Green Bharat Limited latest news, Ganesh Green Bharat Limited news, Ganesh Green Bharat Limited share price, Ganesh Green Bharat Limited stock price, Green Energy Stock, market news, revenue guidance, stock market, Stock market news, stock news Trade Brains
