Solarium Green Energy Ltd
Incorporated in 2018, Solarium Green Energy Ltd is a solar energy company which specializes in integrated solar solutions and turnkey services[1]
- Market Cap ₹ 758 Cr.
- Current Price ₹ 364
- High / Low ₹ 484 / 202
- Stock P/E 40.8
- Book Value ₹ 67.8
- Dividend Yield 0.00 %
- ROCE 20.0 %
- ROE 23.0 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 36.9%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -20.2%
- Company might be capitalizing the interest cost
- Debtor days have increased from 78.6 to 144 days.
- Working capital days have increased from 43.1 days to 85.6 days
* 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.
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| 167 | 99 | 177 | 230 | |
| 163 | 93 | 153 | 204 | |
| Operating Profit | 5 | 6 | 24 | 26 |
| OPM % | 3% | 6% | 14% | 11% |
| 1 | 0 | 0 | 1 | |
| Interest | 1 | 1 | 2 | 3 |
| Depreciation | 1 | 2 | 1 | 1 |
| Profit before tax | 3 | 3 | 21 | 23 |
| Tax % | 39% | 43% | 25% | 18% |
| 2 | 2 | 16 | 19 | |
| EPS in Rs | 6.83 | 5.80 | 51.97 | 8.92 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 11% |
| TTM: | 30% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 109% |
| TTM: | 19% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 37% |
| Last Year: | 23% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Equity Capital | 3 | 3 | 3 | 21 |
| Reserves | 0 | 2 | 17 | 121 |
| 15 | 27 | 31 | 68 | |
| 14 | 13 | 26 | 25 | |
| Total Liabilities | 32 | 44 | 77 | 234 |
| 5 | 6 | 5 | 6 | |
| CWIP | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 |
| 27 | 39 | 72 | 228 | |
| Total Assets | 32 | 44 | 77 | 234 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| 6 | -4 | -0 | -62 | |
| -2 | -4 | -3 | 2 | |
| -4 | 10 | 2 | 135 | |
| Net Cash Flow | -1 | 2 | -2 | 75 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Debtor Days | 14 | 27 | 65 | 144 |
| Inventory Days | 21 | 58 | 61 | 92 |
| Days Payable | 25 | 41 | 35 | 40 |
| Cash Conversion Cycle | 10 | 44 | 91 | 195 |
| Working Capital Days | 5 | 14 | 30 | 86 |
| ROCE % | 18% | 56% | 20% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
28 Jul - Received ₹26.6 Cr orders from NVVN for rooftop solar projects with 10-year O&M contracts.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
12 Jul - Certificate confirming securities dematerialisation for quarter ended June 30, 2025 by Solarium Green Energy.
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Announcement under Regulation 30 (LODR)-Memorandum of Understanding /Agreements
25 Jun - Solarium signs MoU with NISE for solar heating R&D targeting Himalayan regions, enhancing clean energy innovation.
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Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
24 Jun - Received Rs. 35.32 Cr order for 11,775 KW rooftop solar projects from Kirloskar Solar Technologies.
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Intimation Of Schedule Of Analyst/Institutional Investor Meetings Under The SEBI (LODR) Regulations, 2015
23 Jun - Solarium Green Energy schedules virtual analyst meeting on June 25, 2025; no UPSI to be discussed.
Concalls
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May 2025Transcript PPT
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May 2025TranscriptNotesPPT
Business Overview:[1]
SGEL offers Turnkey Solar Solutions, covering design, procurement, construction, commissioning, and O&M for solar power plants. It serves residential, commercial, industrial, and government projects and sells solar products like PV modules, inverters, and meters. Certified by BIS, ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018, SGEL also manages logistics, supply chain, site management, and financial structuring. Its O&M services include panel cleaning, repairs, replacements, and system inspections for government and private clients.