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 ₹ 847 Cr.
- Current Price ₹ 342
- High / Low ₹ 635 / 282
- Stock P/E 16.9
- Book Value ₹ 96.0
- Dividend Yield 0.00 %
- ROCE 25.2 %
- ROE 23.0 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company has a good return on equity (ROE) track record: 3 Years ROE 27.9%
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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|
| 106 | 90 | 170 | 318 | 521 | |
| 96 | 76 | 135 | 270 | 446 | |
| Operating Profit | 9 | 14 | 35 | 48 | 75 |
| OPM % | 9% | 15% | 21% | 15% | 14% |
| 1 | 0 | 2 | 4 | 4 | |
| Interest | 2 | 3 | 5 | 5 | 4 |
| Depreciation | 1 | 1 | 3 | 5 | 8 |
| Profit before tax | 7 | 11 | 28 | 41 | 66 |
| Tax % | 26% | 26% | 23% | 27% | |
| 5 | 8 | 22 | 30 | 50 | |
| EPS in Rs | 43.42 | 68.00 | 10.93 | 12.18 | 20.18 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 44% |
| TTM: | 109% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 80% |
| TTM: | 91% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -30% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 28% |
| Last Year: | 23% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|
| Equity Capital | 1 | 1 | 18 | 25 | 25 |
| Reserves | 26 | 34 | 39 | 180 | 213 |
| 22 | 27 | 54 | 48 | 35 | |
| 39 | 25 | 39 | 86 | 157 | |
| Total Liabilities | 88 | 88 | 150 | 339 | 430 |
| 2 | 2 | 21 | 48 | 47 | |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 |
| 87 | 86 | 129 | 290 | 383 | |
| Total Assets | 88 | 88 | 150 | 339 | 430 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| -8 | -2 | 25 | -29 | |
| -2 | -0 | -34 | -48 | |
| 10 | 3 | 10 | 107 | |
| Net Cash Flow | 0 | -0 | 0 | 30 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Debtor Days | 81 | 81 | 87 | 65 |
| Inventory Days | 39 | 99 | 127 | 176 |
| Days Payable | 100 | 123 | 90 | 76 |
| Cash Conversion Cycle | 20 | 57 | 124 | 164 |
| Working Capital Days | 72 | 141 | 38 | 100 |
| ROCE % | 24% | 38% | 25% |
Documents
Announcements
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Bagging/Receiving of orders/contracts
11 December 2025 - MSEDCL empanelment for 2,064 off-grid solar pumps; contract Rs57.16 crore, 5-year RMS/warranty.
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Analysts/Institutional Investor Meet/Con. Call Updates
1 December 2025 - Management to attend Samruddhi'2025 virtual investor conference on 02-Dec-2025 at 11:00 IST.
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Analysts/Institutional Investor Meet/Con. Call Updates
26 November 2025 - H1 FY26 transcript: Revenue INR342cr, PAT INR32.88cr, EBITDA INR50.02cr; order book INR976cr; capacity 1.1GW.
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Analysts/Institutional Investor Meet/Con. Call Updates
25 November 2025 - Virtual investor conference (Samruddhi'2025) on 02-Dec-2025 at 11:00 AM IST.
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Analysts/Institutional Investor Meet/Con. Call Updates
20 November 2025 - Ganesh Green Bharat Limited has informed about Link of Recording
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.