Sahaj Solar Ltd
Incorporated in 2010, Sahaj Solar Ltd manufactures solar energy based products and provides EPC services[1]
- Market Cap ₹ 581 Cr.
- Current Price ₹ 264
- High / Low ₹ 395 / 150
- Stock P/E 22.5
- Book Value ₹ 47.8
- Dividend Yield 0.19 %
- ROCE 31.6 %
- ROE 37.8 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 131% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 41.8%
Cons
- Company might be capitalizing the interest cost
- Company has high debtors of 233 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
Sector: Capital Goods - Electrical Equipment Industry: Electric Equipment
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 3 | 32 | 55 | 66 | 183 | 179 | 307 | |
| 3 | 29 | 52 | 62 | 173 | 157 | 268 | |
| Operating Profit | -0 | 2 | 3 | 4 | 11 | 22 | 39 |
| OPM % | -3% | 7% | 5% | 6% | 6% | 12% | 13% |
| 0 | 1 | -0 | 0 | 0 | 0 | 1 | |
| Interest | 0 | 1 | 1 | 2 | 2 | 4 | 4 |
| Depreciation | 0 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 0 | 1 | 1 | 1 | 8 | 18 | 35 |
| Tax % | 25% | 37% | 30% | 28% | 26% | 32% | 26% |
| 0 | 0 | 0 | 1 | 6 | 12 | 26 | |
| EPS in Rs | 0.60 | 0.38 | 0.44 | 0.98 | 3.70 | 7.61 | 11.73 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 57% |
| 5 Years: | 58% |
| 3 Years: | 67% |
| TTM: | 71% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 119% |
| 5 Years: | 131% |
| 3 Years: | 221% |
| TTM: | 110% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 37% |
| 3 Years: | 42% |
| Last Year: | 38% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 0.26 | 5 | 5 | 5 | 8 | 8 | 11 |
| Reserves | 0 | 3 | 4 | 5 | 8 | 23 | 94 |
| 0 | 16 | 15 | 17 | 12 | 52 | 57 | |
| 2 | 13 | 8 | 34 | 60 | 60 | 136 | |
| Total Liabilities | 2 | 37 | 32 | 61 | 87 | 144 | 298 |
| 0 | 8 | 8 | 8 | 7 | 6 | 6 | |
| CWIP | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 1 | 1 | 1 |
| 1 | 29 | 23 | 53 | 80 | 137 | 292 | |
| Total Assets | 2 | 37 | 32 | 61 | 87 | 144 | 298 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| -0 | 3 | -2 | 9 | -32 | -52 | ||
| -1 | -1 | 0 | -1 | -1 | 0 | ||
| 1 | -2 | 1 | -7 | 42 | 50 | ||
| Net Cash Flow | 0 | -0 | -1 | 1 | 9 | -2 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 15 | 71 | 57 | 206 | 105 | 176 | 233 |
| Inventory Days | 13 | 258 | 69 | 74 | 22 | 36 | 29 |
| Days Payable | 181 | 167 | 52 | 211 | 124 | 114 | 178 |
| Cash Conversion Cycle | -152 | 162 | 73 | 69 | 3 | 98 | 85 |
| Working Capital Days | -134 | 176 | 88 | 98 | 33 | 129 | 135 |
| ROCE % | 8% | 11% | 36% | 39% | 32% |
Documents
Announcements
-
Updates
20 May 2025 - May 2025 newsletter: new subsidiaries, strong YoY growth, CSR initiatives, awards, and industry updates.
-
Disclosure under SEBI Takeover Regulations
15 May 2025 - Pramit Brahmbhatt has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
-
Analysts/Institutional Investor Meet/Con. Call Updates
29 April 2025 - Sahaj Solar reports FY25 revenue INR331Cr (+64%), PAT INR28Cr; expands capacity to 850MW by Oct 2025; order book INR304Cr.
-
Analysts/Institutional Investor Meet/Con. Call Updates
25 April 2025 - Audio recording of earnings call for half year and year ended March 31, 2025 shared.
-
Investor Presentation
25 April 2025 - Sahaj Solar FY25 investor presentation details growth, 304Cr order book, 1500MW capacity expansion by FY27.
Annual reports
No data available.
Concalls
-
Apr 2025Transcript PPT REC
-
Feb 2025TranscriptNotesPPT
-
Nov 2024TranscriptNotesPPT
Business Overview:[1]
SSL develops small to large Photovoltaic Solar pv power plant projects for its clients & investors. This includes carrying out the initial economic feasibility forecasts, finding a suitable location, securing title to the land (including obtaining all necessary permits) and taking care of all feed-in contracts or Power Purchase Agreements (PPA) with energy off-takers.