Ganesh Green Bharat Ltd
Incorporated in 2016, Ganesh Green Bharat
Ltd specializes in Solar PV Module manufacturing, Solar Systems and Allied Services, Electrical Contracting, and Water Supply Scheme
Projects[1]
- Market Cap ₹ 1,039 Cr.
- Current Price ₹ 419
- High / Low ₹ 635 / 282
- Stock P/E 20.8
- Book Value ₹ 93.5
- Dividend Yield 0.00 %
- ROCE 26.6 %
- ROE 23.6 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company has a good return on equity (ROE) track record: 3 Years ROE 26.1%
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.
Peer comparison
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|
| 83 | 106 | 85 | 166 | 311 | 517 | |
| 73 | 97 | 71 | 142 | 267 | 445 | |
| Operating Profit | 11 | 9 | 14 | 24 | 44 | 72 |
| OPM % | 13% | 9% | 16% | 15% | 14% | 14% |
| 1 | 1 | 0 | 1 | 4 | 3 | |
| Interest | 1 | 2 | 3 | 4 | 4 | 4 |
| Depreciation | 0 | 1 | 1 | 1 | 3 | 6 |
| Profit before tax | 10 | 7 | 11 | 20 | 41 | 66 |
| Tax % | 26% | 26% | 26% | 27% | 27% | |
| 7 | 5 | 8 | 14 | 30 | 50 | |
| EPS in Rs | 59.92 | 43.17 | 67.83 | 7.91 | 11.94 | 20.12 |
| Dividend Payout % | -0% | -0% | -0% | -0% | -0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 43% |
| TTM: | 133% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 79% |
| TTM: | 103% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 7% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 26% |
| Last Year: | 24% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 1 | 1 | 1 | 18 | 25 | 25 |
| Reserves | 21 | 26 | 34 | 34 | 174 | 207 |
| 10 | 23 | 27 | 41 | 40 | 30 | |
| 34 | 40 | 25 | 36 | 77 | 145 | |
| Total Liabilities | 67 | 89 | 88 | 128 | 316 | 408 |
| 1 | 2 | 2 | 7 | 33 | 31 | |
| CWIP | -0 | -0 | -0 | -0 | -0 | -0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| 66 | 88 | 86 | 121 | 283 | 377 | |
| Total Assets | 67 | 89 | 88 | 128 | 316 | 408 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| -4 | -8 | -4 | 23 | -40 | |
| -2 | -1 | -1 | -35 | -43 | |
| -2 | 9 | 5 | 12 | 114 | |
| Net Cash Flow | -8 | 0 | 0 | 0 | 30 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Debtor Days | 38 | 77 | 84 | 90 | 68 |
| Inventory Days | 66 | 31 | 90 | 104 | 170 |
| Days Payable | 231 | 81 | 110 | 78 | 67 |
| Cash Conversion Cycle | -126 | 26 | 64 | 116 | 171 |
| Working Capital Days | 62 | 75 | 153 | 26 | 104 |
| ROCE % | 23% | 24% | 31% | 27% |
Documents
Announcements
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Analysts/Institutional Investor Meet/Con. Call Updates
20 November 2025 - Ganesh Green Bharat Limited has informed about Link of Recording
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Investor Presentation
20 November 2025 - H1FY26 revenue ₹34,237.93L, EBITDA ₹5,002.18L, PAT ₹3,288.35L; 1.1GW capacity; ₹976.1Cr orderbook.
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Investor Presentation
19 November 2025 - H1FY26 revenue ₹342.38 Cr, PAT ₹32.88 Cr; 1.1GW capacity operational; ₹976.1Cr orderbook (17/11/2025).
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Analysts/Institutional Investor Meet/Con. Call Updates
17 November 2025 - Earnings call by Ganesh Green Bharat on Nov 20, 2025 at 11:30 AM for H1 FY26 results.
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Resignation
15 November 2025 - Ganesh Green Bharat Limited has informed regarding Resignation of Mr Arpan Raoul as Other of the company w.e.f. November 15, 2025.
Annual reports
Concalls
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Nov 2025TranscriptNotesPPT
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Nov 2025TranscriptNotesPPT
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Aug 2025TranscriptNotesPPT
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Jun 2025TranscriptPPTREC
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Nov 2024Transcript PPT REC
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Jul 2024TranscriptNotesPPT
Business Overview:[1]
GGBL is an ISO 9001:2015, ISO 14001:2015, BIS certified manufactures solar systems, and EPC services provider. It also undertakes electrical contracting and water supply scheme projects. Company has completed ~27+ Projects worth ~Rs. 220+ Cr including ~2.50 Lac+ Solar modules products, ~1 Lac+ Systems installed, and ~50,000+ Water connections installed, etc. in ~14 states.