GRE Renew Enertech Ltd
GRE Renew Enertech Limited is engaged in the business of solar energy solutions and LED lighting products.[1]
- Market Cap ₹ 206 Cr.
- Current Price ₹ 144
- High / Low ₹ 178 / 77.5
- Stock P/E 17.1
- Book Value ₹ 48.1
- Dividend Yield 0.00 %
- ROCE 34.8 %
- ROE 26.7 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company has delivered good profit growth of 89.1% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 38.7%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
* 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 2014 | Mar 2015 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| 2 | 3 | 20 | 11 | 34 | 76 | 80 | 115 | |
| 2 | 3 | 19 | 11 | 33 | 65 | 70 | 100 | |
| Operating Profit | 0 | 0 | 1 | 0 | 1 | 11 | 10 | 15 |
| OPM % | 6% | 11% | 6% | 4% | 4% | 14% | 12% | 13% |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Profit before tax | -0 | 0 | 1 | 0 | 1 | 11 | 9 | 16 |
| Tax % | -0% | -0% | 25% | -9% | 26% | 25% | 26% | 25% |
| -0 | 0 | 0 | 0 | 1 | 8 | 7 | 12 | |
| EPS in Rs | -4.00 | 0.67 | 4.00 | 2.00 | 6.16 | 64.40 | 6.66 | 8.45 |
| Dividend Payout % | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 42% |
| 3 Years: | 50% |
| TTM: | 45% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 89% |
| 3 Years: | 150% |
| TTM: | 72% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 37% |
| 3 Years: | 39% |
| Last Year: | 27% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.15 | 0.15 | 1 | 1 | 1 | 1 | 11 | 14 |
| Reserves | 0 | 0 | 1 | 2 | 2 | 10 | 11 | 54 |
| 3 | 4 | 5 | 4 | 5 | 5 | 2 | 2 | |
| 2 | 2 | 3 | 1 | 36 | 24 | 12 | 24 | |
| Total Liabilities | 5 | 7 | 11 | 8 | 44 | 40 | 35 | 94 |
| 2 | 2 | 1 | 1 | 1 | 1 | 4 | 14 | |
| CWIP | -0 | -0 | -0 | -0 | 0 | 2 | 9 | 7 |
| Investments | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| 2 | 4 | 9 | 7 | 42 | 37 | 22 | 74 | |
| Total Assets | 5 | 7 | 11 | 8 | 44 | 40 | 35 | 94 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| 1 | -0 | 0 | 6 | 9 | 5 | |||
| 0 | -0 | -1 | -1 | -12 | -15 | |||
| -1 | -0 | 0 | -1 | -0 | 35 | |||
| Net Cash Flow | -0 | -0 | -0 | 5 | -3 | 25 | ||
| Free Cash Flow | 1 | -0 | -0 | 5 | -1 | -3 | ||
| CFO/OP | 64% | -58% | 51% | 81% | 119% | 55% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 117 | 113 | 31 | 87 | 21 | 26 | 41 | 31 |
| Inventory Days | 404 | 407 | 84 | 101 | 46 | 28 | 24 | 51 |
| Days Payable | 344 | 281 | 60 | 38 | 11 | 4 | 23 | 43 |
| Cash Conversion Cycle | 176 | 239 | 55 | 150 | 56 | 50 | 42 | 38 |
| Working Capital Days | 113 | 194 | -13 | 9 | 20 | 24 | 24 | 42 |
| ROCE % | 7% | 8% | 17% | 88% | 49% | 35% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| Annual Solar Projects Executed (Capacity) KWp |
|
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| Tender Success Rate (Solar Capacity) % |
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| Trade Receivables Turnover Ratio |
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Extracted by Screener AI
Documents
Announcements
-
Intimation Of Commissioning And Operationalization Of Solar Power Projects Forming Part Of IPO Objects
3 Jun - GRE Renew Enertech commissioned 7.20 MW solar projects in Gujarat; generation began May 27, 2026.
-
Intimation Of Commencement Of Solar Power Project By Wholly Owned Subsidiary
3 Jun - Subsidiary commissioned 1.5 MW AC solar project in Gujarat; generation began May 30, 2026.
- Announcement under Regulation 30 (LODR)-Newspaper Publication 27 May
-
Shareholder Meeting / Postal Ballot-Notice of Postal Ballot
25 May - Postal ballot seeks approval to reallocate ₹2.06 crore IPO proceeds to general corporate purposes.
-
Statement On Deviation Or Variation Of Funds Under Regulation 32 Of SEBI (LODR) Regulations 2015
23 May - GRE Renew Enertech reported ₹33.23 lakh issue-expense savings reallocated to its solar project; IPO proceeds ₹3,956.40 lakh.
Business Profile[1]
GRE Renew Enertech Limited is an emerging Indian renewable energy company primarily focused on solar EPC and RESCO-based solar power projects for industrial and commercial customers. The company designs, engineers, procures, installs, commissions, and maintains rooftop and ground-mounted solar PV plants.