Promax Power Ltd
Incorporated in 2004, Promax Power Ltd is involved EPC Power & Solar projects and other related activities[1]
- Market Cap ₹ 42.5 Cr.
- Current Price ₹ 17.0
- High / Low ₹ 37.4 / 15.5
- Stock P/E 17.5
- Book Value ₹ 12.6
- Dividend Yield 0.00 %
- ROCE 11.0 %
- ROE 8.10 %
- Face Value ₹ 10.0
Pros
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 6.14% over last 3 years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 7.76 | 36.87 | 39.58 | 54.55 | 60.26 | 66.42 | 73.41 | |
| 0.00 | 7.34 | 35.81 | 38.06 | 52.75 | 56.93 | 61.79 | 68.47 | |
| Operating Profit | 0.00 | 0.42 | 1.06 | 1.52 | 1.80 | 3.33 | 4.63 | 4.94 |
| OPM % | 5.41% | 2.87% | 3.84% | 3.30% | 5.53% | 6.97% | 6.73% | |
| 0.00 | 0.00 | 0.38 | 0.17 | 0.41 | 0.25 | 0.39 | 0.47 | |
| Interest | 0.00 | 0.00 | 0.65 | 1.29 | 1.62 | 1.75 | 1.84 | 2.12 |
| Depreciation | 0.00 | 0.00 | 0.10 | 0.10 | 0.05 | 0.05 | 0.05 | 0.06 |
| Profit before tax | 0.00 | 0.42 | 0.69 | 0.30 | 0.54 | 1.78 | 3.13 | 3.23 |
| Tax % | 23.81% | 36.23% | 33.33% | -29.63% | 23.03% | 24.92% | ||
| 0.00 | 0.31 | 0.43 | 0.20 | 0.71 | 1.37 | 2.34 | 2.43 | |
| EPS in Rs | 0.49 | 0.17 | 0.28 | 0.68 | 0.94 | 0.97 | ||
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 54% |
| 3 Years: | 19% |
| TTM: | 21% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 50% |
| 3 Years: | 127% |
| TTM: | 10% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -9% |
| 1 Year: | -50% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 6% |
| 3 Years: | 6% |
| Last Year: | 8% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.01 | 0.01 | 4.40 | 6.00 | 12.50 | 12.50 | 25.00 | 25.00 |
| Reserves | 0.00 | 0.31 | 0.49 | 0.69 | 10.80 | 15.20 | 5.05 | 6.41 |
| 0.00 | 11.20 | 6.09 | 9.72 | 10.07 | 13.06 | 19.38 | 20.83 | |
| 0.00 | 9.15 | 9.45 | 11.91 | 7.31 | 20.32 | 17.36 | 15.19 | |
| Total Liabilities | 0.01 | 20.67 | 20.43 | 28.32 | 40.68 | 61.08 | 66.79 | 67.43 |
| 0.00 | 1.89 | 2.52 | 2.33 | 0.46 | 0.41 | 0.35 | 0.35 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | 4.85 | 4.61 | 4.61 |
| 0.01 | 18.78 | 17.90 | 25.98 | 40.21 | 55.82 | 61.83 | 62.47 | |
| Total Assets | 0.01 | 20.67 | 20.43 | 28.32 | 40.68 | 61.08 | 66.79 | 67.43 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 0.00 | -6.66 | 3.15 | -4.55 | -17.29 | 1.99 | -3.01 | |
| 0.00 | -1.80 | -1.63 | 0.10 | 2.22 | -4.59 | 0.39 | |
| 0.00 | 11.20 | -1.26 | 5.12 | 14.73 | 4.58 | 4.48 | |
| Net Cash Flow | 0.00 | 2.75 | 0.26 | 0.67 | -0.34 | 1.98 | 1.85 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 333.02 | 64.74 | 97.38 | 78.82 | 144.82 | 116.56 | |
| Inventory Days | 410.81 | 77.74 | 116.28 | 95.16 | 97.25 | 129.87 | |
| Days Payable | 449.65 | 97.48 | 103.63 | 39.84 | 116.81 | 74.52 | |
| Cash Conversion Cycle | 294.18 | 45.00 | 110.02 | 134.14 | 125.27 | 171.90 | |
| Working Capital Days | 110.53 | 16.73 | 20.38 | 135.76 | 105.51 | 110.51 | |
| ROCE % | 7.29% | 8.71% | 11.61% | 7.83% | 9.52% | 11.02% |
Insights
In beta| Mar 2021 | Mar 2022 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Completed EPC Turnkey Line Projects Number |
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| Maximum Voltage Handling Capability kV |
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| Order Book / Backlog INR Crores |
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| Transmission Line Execution Experience KMs |
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| New Orders Secured during the year (Announced) INR Crores |
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Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Acquisition
3 Feb - Promax Power acquired 63.76% of Promax Solar One Hubli SPV on 02/02/2026 for 6.0 MW RESCO solar project (HESCOM).
-
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
19 Jan - Cameo certificate confirming dematerialisation processing for quarter ended 31 December 2025.
-
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
8 Jan - LOA: 6.0 MW BOO solar project from HESCOM; 25-year term; ₹2.97/unit; ₹70–75 crore estimate.
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Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s
25 Dec 2025 - Manish Jain & Associates appointed statutory auditor on 25/12/2025, replacing Raj Gupta & Co., term until AGM.
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Announcement under Regulation 30 (LODR)-Resignation of Statutory Auditors
5 Dec 2025 - Promax Power: Statutory auditor Raj Gupta & Co. resigned effective Dec 5, 2025; cited pre-occupation.
Business Overview:[1]
Company is in the business of Engineering, Procurement, Construction (EPC - Power & Solar) projects for Electrification, Power Substations, Underground Cabling from 11kV to 220kV. Company also provides Turnkey execution of Civil Infrastructure projects viz. Industrial buildings and Turnkey execution of water infrastructure management projects viz. water transmission and distribution work