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 ₹ 526 Cr.
- Current Price ₹ 212
- High / Low ₹ 475 / 202
- Stock P/E 6.99
- Book Value ₹ 111
- Dividend Yield 0.23 %
- 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 | 3.99 | 2.88 | 4.52 | 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: | -43% |
| 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/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | -12% | -68% | -9% | 105% | -79% | 21% |
Ratios
Standalone / 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 2019 | Mar 2024 | Mar 2025 | May 2026 | |
|---|---|---|---|---|
| Order Book INR Crores |
|
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| Revenue Mix - Solar Module Manufacturing Share % |
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| Solar PV Module Installed Capacity MW |
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| Order Book - Solar Module Supply INR Crores |
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| Module Capacity Utilization % |
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| Order Book - BESS Project INR Crores |
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Extracted by Screener AI
Documents
Announcements
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Certificate under SEBI (Depositories and Participants) Regulations, 2018
- Share capital audit report for quarter ended 30 September 2026 shows 24,801,000 shares and no capital changes.
-
Integrated Filing- Governance
- Q2 FY2026 investor complaints: 1 pending, 0 received, 1 disposed, 0 unresolved.
-
Certificate under SEBI (Depositories and Participants) Regulations, 2018
- Submitted Regulation 74(5) certificate for quarter ended 30 September 2026.
-
Shareholders meeting
- Shareholders approved FY2026 accounts, dividend of Rs 0.50, related-party transactions, and director reappointments.
-
Shareholders meeting
- Ganesh Green Bharat Limited has informed regarding Proceedings of Annual General Meeting held on September 29, 2026
Concalls
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Jun 2026Transcript PPT REC
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Nov 2025Transcript PPT REC
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Nov 2025PPT
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Aug 2025PPT
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Jun 2025Transcript REC
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Nov 2024Transcript PPT REC
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Jul 2024PPT
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.