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 ₹ 874 Cr.
- Current Price ₹ 352
- High / Low ₹ 555 / 215
- Stock P/E 11.6
- Book Value ₹ 113
- Dividend Yield 0.00 %
- ROCE 35.4 %
- ROE 31.0 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 29.8%
- Debtor days have improved from 57.9 to 21.4 days.
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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 106 | 90 | 170 | 318 | 1,068 | |
| 96 | 76 | 135 | 270 | 954 | |
| Operating Profit | 9 | 14 | 35 | 48 | 114 |
| OPM % | 9% | 15% | 21% | 15% | 11% |
| 1 | 0 | 2 | 4 | 0 | |
| Interest | 2 | 3 | 5 | 5 | 6 |
| Depreciation | 1 | 1 | 3 | 5 | 10 |
| Profit before tax | 7 | 11 | 28 | 41 | 98 |
| Tax % | 26% | 26% | 23% | 27% | 23% |
| 5 | 8 | 22 | 30 | 75 | |
| EPS in Rs | 43.42 | 68.00 | 10.93 | 12.18 | 30.31 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 128% |
| TTM: | 236% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 110% |
| TTM: | 149% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -17% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 29% |
| 3 Years: | 30% |
| Last Year: | 31% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 1 | 1 | 18 | 25 | 25 |
| Reserves | 26 | 34 | 39 | 180 | 256 |
| 22 | 27 | 54 | 48 | 52 | |
| 39 | 25 | 39 | 86 | 155 | |
| Total Liabilities | 88 | 88 | 150 | 339 | 488 |
| 2 | 2 | 21 | 48 | 54 | |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 |
| 87 | 86 | 129 | 290 | 433 | |
| Total Assets | 88 | 88 | 150 | 339 | 488 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| -8 | -2 | 25 | -29 | 21 | |
| -2 | -0 | -34 | -48 | -26 | |
| 10 | 3 | 10 | 107 | -1 | |
| Net Cash Flow | 0 | -0 | 0 | 30 | -6 |
| Free Cash Flow | -10 | -3 | 17 | -62 | 6 |
| CFO/OP | -71% | 4% | 78% | -46% | 28% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 81 | 81 | 87 | 65 | 21 |
| Inventory Days | 39 | 99 | 127 | 176 | 68 |
| Days Payable | 100 | 123 | 90 | 76 | 33 |
| Cash Conversion Cycle | 20 | 57 | 124 | 164 | 57 |
| Working Capital Days | 72 | 141 | 38 | 100 | 50 |
| ROCE % | 24% | 38% | 25% | 35% |
Insights
In beta| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Nov 2025 | |
|---|---|---|---|---|---|
| Solar PV Module Manufacturing Capacity MW ・Standalone data |
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| Number of Employees Numbers ・Standalone data |
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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 % ・Standalone data |
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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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General Updates
23 May 2026 - Ongoing project order book increased from about Rs. 700 crore to Rs. 2,210 crore on 23 May 2026.
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Analysts/Institutional Investor Meet/Con. Call Updates
23 May 2026 - Ganesh Green Bharat invites investors to a conference call on 29 May 2026 at 11:30 AM.
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Bagging/Receiving of orders/contracts
23 May 2026 - Ganesh Green Bharat Limited has informed about Bagging/Receiving of orders/contracts
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Press Release
22 May 2026 - FY26 revenue rose 232% to ₹1,067.60 crore; PAT up 149%; FY27 revenue guidance ₹1,500-₹1,700 crore.
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Outcome of Board Meeting
21 May 2026 - Board meeting started at 1:30 PM and concluded at 2:30 PM.
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.