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 ₹ 717 Cr.
- Current Price ₹ 289
- High / Low ₹ 555 / 215
- Stock P/E 9.55
- Book Value ₹ 111
- Dividend Yield 0.17 %
- ROCE 36.8 %
- ROE 31.8 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 59.9% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 29.4%
- Debtor days have improved from 60.8 to 24.5 days.
Cons
* 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 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 83 | 106 | 85 | 166 | 311 | 1,065 | |
| 73 | 97 | 71 | 142 | 267 | 954 | |
| Operating Profit | 11 | 9 | 14 | 24 | 44 | 111 |
| OPM % | 13% | 9% | 16% | 15% | 14% | 10% |
| 1 | 1 | 0 | 1 | 4 | 0 | |
| Interest | 1 | 2 | 3 | 4 | 4 | 5 |
| Depreciation | 0 | 1 | 1 | 1 | 3 | 7 |
| Profit before tax | 10 | 7 | 11 | 20 | 41 | 98 |
| Tax % | 26% | 26% | 26% | 27% | 27% | 23% |
| 7 | 5 | 8 | 14 | 30 | 75 | |
| EPS in Rs | 59.92 | 43.17 | 67.83 | 7.91 | 11.94 | 30.30 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 66% |
| 3 Years: | 132% |
| TTM: | 242% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 60% |
| 3 Years: | 110% |
| TTM: | 154% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -41% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 29% |
| 3 Years: | 29% |
| Last Year: | 32% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 1 | 1 | 1 | 18 | 25 | 25 |
| Reserves | 21 | 26 | 34 | 34 | 174 | 249 |
| 10 | 23 | 27 | 41 | 40 | 50 | |
| 34 | 40 | 25 | 36 | 77 | 150 | |
| Total Liabilities | 67 | 89 | 88 | 128 | 316 | 474 |
| 1 | 2 | 2 | 7 | 33 | 38 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| 66 | 88 | 86 | 121 | 283 | 436 | |
| Total Assets | 67 | 89 | 88 | 128 | 316 | 474 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| -4 | -8 | -4 | 23 | -40 | 13 | |
| -2 | -1 | -1 | -35 | -43 | -23 | |
| -2 | 9 | 5 | 12 | 114 | 4 | |
| Net Cash Flow | -8 | 0 | 0 | 0 | 30 | -6 |
| Free Cash Flow | -5 | -9 | -5 | 16 | -69 | 0 |
| CFO/OP | -12% | -68% | -9% | 105% | -79% | 21% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 38 | 77 | 84 | 90 | 68 | 25 |
| Inventory Days | 66 | 31 | 90 | 104 | 170 | 67 |
| Days Payable | 231 | 81 | 110 | 78 | 67 | 32 |
| Cash Conversion Cycle | -126 | 26 | 64 | 116 | 171 | 60 |
| Working Capital Days | 62 | 75 | 153 | 26 | 104 | 53 |
| ROCE % | 23% | 24% | 31% | 27% | 37% |
Insights
In beta| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Nov 2025 | |
|---|---|---|---|---|---|
| Solar PV Module Manufacturing Capacity MW |
|
||||
| Number of Employees Numbers |
|||||
| Total Order Book INR Crores |
|||||
| Off-Grid Solar Systems Executed (Cumulative) Numbers |
|||||
| Solar Module Supply Order Book INR Crores |
|||||
| Solar PV Module Capacity Utilization % |
|||||
| Solar Rooftop Order Book INR Crores |
|||||
| Solar Water Pumping System Order Book INR Crores |
|||||
Extracted by Screener AI
Documents
Announcements
-
Reply to Clarification- Financial results
25 June 2026 - GGBL clarifies IPO proceeds utilization, monitoring agency report, and single-segment reporting applicability.
-
Clarification - Financial Results
25 June 2026 - Exchange has sought clarification from Ganesh Green Bharat Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (LODR) Regulations, 2015. …
-
Disclosure under SEBI Takeover Regulations
23 June 2026 - Ketanbhai Narsinbhai Patel has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, …
-
Outcome of Board Meeting
16 June 2026 - Outcome of Meeting held on 16th June,2026 for Withdrawal of Issuance of Warrants Convertible into Equity Shares of the Company on Preferential basis and Cancellation …
-
Dividend
16 June 2026 - Board at its meeting held on Jun 16, 2026, declared Interim Dividend of Rs. 0.50 per equity share.
Annual reports
Concalls
-
Jun 2026Transcript PPT REC
-
Nov 2025Transcript PPT REC
-
Nov 2025TranscriptAI SummaryPPT
-
Aug 2025TranscriptAI SummaryPPT
-
Jun 2025TranscriptPPTREC
-
Nov 2024Transcript PPT REC
-
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.