Onix Solar Energy Ltd

₹ 323 4.99%

29 Oct - close price

onixsolarenergy.com BSE: 513119 NSE: ONIXSOLAR

About

Incorporated in 1980, Onix Solar Energy Ltd is in the business of renewable energy solutions.^[1]

Key Points

Business Overview:^[1]
OSEL was in the business of manufacturing
of Gas Products and trading in related products.
However, due to its nonperformance in current business line; it has switched its main business from Gas Industry to Solar Energy Industry on May 14th 2024

Website BSE NSE

Market Cap ₹ 1,191 Cr.
Current Price ₹ 323
High / Low ₹ 782 / 150
Stock P/E 19.0
Book Value ₹ 232
Dividend Yield 0.00 %
ROCE 10.3 %
ROE 7.74 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Company is expected to give good quarter
Company has delivered good profit growth of 139% CAGR over last 5 years
Promoter holding has increased by 2.93% over last quarter.

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Company has a low return on equity of 7.78% over last 3 years.
Promoters have pledged 94.5% of their holding.
Company has high debtors of 210 days.

* 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

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	0.00	0.01	0.00	0.26	0.13	57.26	23.27	45.20	43.37	16.12	70.30	93.74	31.88
	0.13	0.17	0.18	0.32	0.08	52.07	22.67	43.96	43.97	1.86	44.89	65.91	29.38
Operating Profit	-0.13	-0.16	-0.18	-0.06	0.05	5.19	0.60	1.24	-0.60	14.26	25.41	27.83	2.50
OPM %		-1,600.00%		-23.08%	38.46%	9.06%	2.58%	2.74%	-1.38%	88.46%	36.15%	29.69%	7.84%
	0.00	0.01	0.83	0.10	0.10	1.09	0.11	0.11	0.11	0.11	0.30	0.00	0.00
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.07	0.00	0.04	0.00	0.01
Depreciation	0.01	0.01	0.01	0.00	0.00	0.02	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Profit before tax	-0.14	-0.16	0.64	0.04	0.15	6.26	0.71	1.35	-0.56	14.37	25.67	27.83	2.49
Tax %	0.00%	18.75%	1.56%	0.00%	0.00%	0.00%	9.86%	25.19%	35.71%	0.00%	0.00%	25.15%	22.89%
	-0.14	-0.20	0.63	0.04	0.15	6.26	0.64	1.01	-0.76	14.37	25.67	20.83	1.92
EPS in Rs	-0.40	-0.57	1.80	0.11	0.43	17.89	1.83	2.89	-2.17	3.90	6.96	5.65	0.52
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	4	2	4	2	1	1	0	2	0	0	29	157	212
	4	3	4	2	1	2	1	3	0	1	28	117	142
Operating Profit	-0	-0	-0	-0	-0	-0	-1	-1	-0	-1	1	40	70
OPM %	-2.0%	-14%	-9%	-28%	-34%	-33%	-157%	-94%	-750%	-5,300%	3.8%	25%	33%
	0	0	0	0	0	0	0	2	3	1	0	1	0
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
Profit before tax	0	-0	-0	-0	0	-0	-0	0	2	0	2	40	70
Tax %	6%	-4%	-8%	-36%	19%	-4%	0%	0%	11%	19%	5%	25%
	0	-0	-0	-0	0	-0	-0	0	2	0	1	30	63
EPS in Rs	0.46	-0.63	-0.34	-0.17	0.37	-0.74	-1.17	0.71	5.97	0.60	4.14	8.17	17.03
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	52%
5 Years:	227%
3 Years:	1888%
TTM:	25%

Compounded Profit Growth
10 Years:	62%
5 Years:	139%
3 Years:	572%
TTM:	778%

Stock Price CAGR
10 Years:	35%
5 Years:	106%
3 Years:	110%
1 Year:	44%

Return on Equity
10 Years:	7%
5 Years:	7%
3 Years:	8%
Last Year:	8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
Equity Capital	2	2	2	2	2	2	2	2	2	2	2	25	37
Reserves	0	0	0	-0	0	-0	-1	-0	2	2	3	749	820
	2	2	2	1	1	1	2	0	1	0	0	0	0
	2	2	3	3	2	2	2	6	0	0	34	26	31
Total Liabilities	6	6	7	7	5	5	5	7	5	4	39	801	888
	0	0	0	0	0	0	0	0	0	0	0	0	7
CWIP	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments	0	0	0	0	0	0	0	0	0	0	0	572	632
	6	5	7	6	5	5	5	7	4	4	39	229	249
Total Assets	6	6	7	7	5	5	5	7	5	4	39	801	888

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-0	0	-0	-0	-0	-0	0	1	-6	3	17	-160
	0	0	0	0	0	0	-0	0	6	1	-19	1
	-0	0	-0	-0	-0	0	0	-2	0	-1	0	159
Net Cash Flow	-0	0	-0	0	0	0	0	-0	-0	4	-2	0
Free Cash Flow	-0	0	-0	-0	-0	-0	0	1	-1	3	-2	-160
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	325%	-15%	38%	16%	38%	124%	-27%	-81%	4,060%	-640%	1,597%	-401%

Ratios

Standalone / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	41	189	386	859	1,337	1,193	3,242	654	0	0	4	210
Inventory Days	443	572	198	622	1,044	216	681	85	12,775	1,408	0	219
Days Payable	161	244	300	846	1,072	501	1,736	35	6,205	261		51
Cash Conversion Cycle	324	516	285	636	1,308	907	2,186	704	6,570	1,147	4	378
Working Capital Days	170	253	144	363	811	456	904	325	60,955	8,760	-198	426
ROCE %	8%	-6%	-4%	-3%	5%	-8%	-13%	-48%	-1%	-14%	32%	10%

Insights

In beta

Mar 2025

Mar 2026

Mar 2027 (P)

Mar 2028 (P)

Mar 2029 (P)

Mar 2030 (P)

Green Hydrogen Capacity
MT/PA

		xx,xxx	xxx,xxx	xxx,xxx	xxx,xxx
xxx	xxx	x,xxx
		x
	xx

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Solar Module Manufacturing Capacity
MW

Number of Solar Module Product Variants
types

Solar Module Capacity Utilisation
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

12 Recently

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	19.89%	1.21%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	91.72%	74.98%	50.22%	53.15%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.77%	0.77%	0.70%
	80.12%	98.79%	99.99%	100.00%	100.00%	100.01%	100.00%	99.99%	8.29%	24.27%	49.00%	46.15%
No. of Shareholders	6,483	6,545	6,150	6,045	5,963	6,372	6,431	6,972	7,062	8,142	10,452	13,217

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
	32.96%	32.96%	32.94%	33.09%	33.09%	33.09%	29.93%	1.21%	0.00%	74.98%	53.15%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.77%	0.70%
	67.04%	67.04%	67.06%	66.91%	66.91%	66.91%	70.08%	98.79%	100.01%	24.27%	46.15%
No. of Shareholders	5,194	5,198	5,245	5,259	5,304	5,317	6,398	6,545	6,372	8,142	13,217

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Onix Solar Energy Ltd

Onix Solar Energy Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

Documents

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