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 ₹ 839 Cr.
- Current Price ₹ 338
- High / Low ₹ 555 / 215
- Stock P/E 16.8
- 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
Industrials Capital Goods Electrical Equipment Other Electrical Equipment
Part of Nifty SME Emerge
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: | 1% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 26% |
| 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 |
| Free Cash Flow | -5 | -9 | -5 | 16 | -69 |
| CFO/OP | -12% | -68% | -9% | 105% | -79% |
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% |
Insights
In beta| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Nov 2025 | |
|---|---|---|---|---|---|
| Solar PV Module Manufacturing Capacity MW |
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| Number of Employees Numbers |
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| Total Order Book INR Crores |
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| Off-Grid Solar Systems Executed (Cumulative) Numbers |
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| Solar Module Supply Order Book INR Crores |
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| Solar PV Module Capacity Utilization % |
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| Solar Rooftop Order Book INR Crores |
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| Solar Water Pumping System Order Book INR Crores |
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Extracted by Screener AI
Documents
Announcements
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Bagging/Receiving of orders/contracts
16 April 2026 - Ganesh Green Bharat Limited has informed about Bagging/Receiving of orders/contracts
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Resignation
14 April 2026 - Chief Project Officer Col. (Retd.) Dr. Manish Kothari resigned effective 14 April 2026.
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Bagging/Receiving of orders/contracts
14 April 2026 - Ganesh Green Bharat Limited has informed about Bagging/Receiving of orders/contracts
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Certificate under SEBI (Depositories and Participants) Regulations, 2018
6 April 2026 - Regulation 74(5) certificate submitted for quarter ended 31 March 2026.
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Bagging/Receiving of orders/contracts
3 April 2026 - Ganesh Green Bharat Limited has informed about Bagging/Receiving of orders/contracts
Annual reports
Concalls
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Nov 2025Transcript PPT REC
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Nov 2025TranscriptAI SummaryPPT
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Aug 2025TranscriptAI SummaryPPT
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Jun 2025TranscriptPPTREC
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Nov 2024Transcript PPT REC
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Jul 2024TranscriptAI SummaryPPT
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.